Ann: Red 5 Ore Reserve and Mineral Resource Statement, page-25

Ok. So.... why oh why has RED not updated their mine plan since 2020....
They have more reserves, they have Darlot, yet as far I know, they have still not factored Darlot reserves into any LOM plan. This from August 2021, though of course costs are likely somewhat higher.



Yes, Darlot only has 115k of reserves currently but... even if it only adds 600ktpa at 2.5g/t, that is another 40-45k p.a for 3 years.
It was totally excluded from the DFS. So was the plant upgrade... upgrades... to 6mtpa.

Surely it's time for RED to start actually explaining to the market that this project is... going to beat almost every other asset held by all the other mid tier producers located in W.A?

This from Sept 2020.... 100% KOTH ore.





Perhaps I have been conservative in what RED can do during FY24 and... over the next 3-4 years... when combined with Darlot.

I guess I am really just re-iterating my point about how important Darlot is. If they can expand the mine life even further, the above graph should change quite dramatically, plus strengthened with the extra processing capacity.

The best defence, is a strong offense... so why is RED not explaining everything to the market....