27 September 2016
Philippine Mining Audit Press Conference
Red 5 Limited (ASX: RED) advises that at a press conference held in Manila today, the Philippines Department of Environment and Natural Resources (DENR) has announced the results of an audit of mining operations in the Philippines to determine compliance by mining companies with the regulatory requirements of the DENR.
At the press conference, the DENR noted that the operator of the Siana Gold Project, Greenstone Resources Corporation (Greenstone Resources) (Red 5's Philippine affiliated company) has been cleared to continue operations at the Siana Mine. No formal notification of the DENR audit results has yet been received.
A further update will be provided as additional information becomes available.
For more information:
ENDS
Investors/Shareholders: Media:
Mark Williams, Managing Director Nicholas Read
Joe Mobilia, Chief Financial Officer Read Corporate
Red 5 Limited Tel: +61-8 9388 1474
Telephone: +61 8 9322 4455
About Red 5 Limited
Red 5 Limited (ASX: RED) through its associated Philippine company Greenstone Resources Corporation is a gold producer which operates the Siana Gold Project, located in the established gold mining region of Surigao del Norte in the Philippines. This richly endowed region hosts epithermal gold systems and porphyry copper-gold deposits.
The Siana Gold Project re-commenced operations in January 2015 following the redevelopment of tailings storage capacity and is now focused on steady-state gold production and laying the foundations for the Company's future growth. The Company is focusing on the following key areas to create value for shareholders:
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Reliable production - to deliver steady and reliable gold production at Siana based on achievable targets;
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Technical strength - to implement high standards across all aspects of the business, including mining, processing, the management of the tailings storage facilities and the pit wall cut-backs; and
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Growth - to lay the foundations for the Company's future growth by implementing its long-term mining plans for the open pit and future underground mines, and by recommencing exploration activities to grow its resource and reserve inventory and unlock the potential of its highly prospective exploration portfolio.
Red 5 Limited
ABN 73 068 647 610 ASX: RED Shares on issue: 761.9M
Level 2, 35 Ventnor Avenue West Perth 6005 Western Australia Tel: (+61) 8 9322 4455 Fax: (+61) 8 9481 5950
Web: www.red5limited.com Investor enquiries:[email protected]