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Red 5 finishes Siana pre-feasibility

AFTER initially refusing to accept the cost estimates for its Siana gold project in the Philippines, Red 5 has signed off on a pre-feasibility showing a mine development costing $US44.5 million ($A58.7 million) and having cash operating costs of $253 per ounce.

Michael Vaughan
Red 5 finishes Siana pre-feasibility

At a gold price of $600/oz, the project has a net cash flow of $73.6 million and an internal rate of return of 27.4%. Red 5 chairman Nicholas Smith voiced his frustration at not being able to report...

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