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Red 5 forecasts 850,000oz gold output over 11 years from Siana

By · February 7, 2012 · 3:43 am · Leave a Comment

 

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By Ray Brindal

THE Australia-listed miner Red 5 today reported pouring first gold and silver at its $US75 million ($69.9m) Siana project in the Philippines.

The 228oz bar is estimated to contain 50 per cent gold, the company said in a statement.

Red 5 plans to call for an initial open-pit mine and transitioning to an underground operation to extract more than 850,000oz of gold over 11 years.

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