Whilst the reserve for the main pit is nice, I actually feel the most important part of the update is the Darlot result.
115k in reserve means they are likely able to produce 40-50k p.a over the next 3 years which is simply cream for the KOTH processing plant (hopefully the can further expand the reserve, I mean... they have 1.7m ounces in MRE, not even 10% is converted).
600ktpa from Darlot is a bit over 10% of the processing capacity, yet it gives them almost 1/4 of the production profile. While I have been scathing of the Darlot operation when it was a stand alone the mining teams are clearly doing a great job.
Some very... rough numbers over the next 3 years imply that KOTH should be able to comfortably produce above 200,000 ounces.
Yes, FY2024 guidance is already implying 200k+, but above all, I just want to see them hit guidance, nothing more. Great if they beat it, but... RED still has a lot of work to rebuild it's reputation.
I am still a little unimpressed with the KOTH underground. A question for those more into RED, does mining the shallow U/G potentially eat into a deeper open pit resource? As the main pit could go a LOT deeper than it's current 400m cuttoff.
- Forums
- ASX - By Stock
- RED
- Ann: Red 5 Ore Reserve and Mineral Resource Statement
Ann: Red 5 Ore Reserve and Mineral Resource Statement, page-7
-
-
- There are more pages in this discussion • 21 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review