Revenue jumped from $154 million to $200.3 million on sales of 92,953 ounces of gold.

Underlying EBITDA was $54 million, up from $30.9 million.

The gross profit from operations was $39.2 million, while net cashflow from operations was $51.5 million.

The company spent $54.5 million on development and growth.

Red 5 said FY20 was focused on progressing the company towards becoming a multi-mine producer via Darlot and King of the Hills in Western Australia's Eastern Goldfields.

Equity capital raising of $125 million completed to underpin KOTH development.

"Red 5 maintained a strong safety and sustainable performance with underlying net profit and free cashflow generation from our existing mining operations at Darlot and King of the Hills," Red 5 managing director Mark Williams said.

"This allowed us to invest in the future growth and diversification of the company by maintaining an expansive exploration commitment, delivering the KOTH final feasibility study and strengthening our balance sheet with a $125 million equity raising.

"As a result, following the completion of the KOTH FFS in September 2020, I believe we have now put in place all the required building blocks for our transition to a multi-asset gold producer by 2022 - opening a clear pathway for Red 5 to join the ranks of Australia's larger mid-tier gold miners."

The FFS, released earlier this month, outlined a new 4 million tonne per annum bulk mining and processing operation at KOTH to produce an average 146,000oz of gold over a 16-year mine life.

A final investment decision is planned in the coming months.

Red 5 had $122.3 million in cash and metal at the end of June, and $12 million owing to Macquarie under a debt facility.

The company is targeting $165 million of debt for the KOTH development.

Shares in Red 5 outperformed ASX 200 gold miners today, rising by 5.7% to 31.7c. Canaccord Genuity has a speculative buy rating and 50c price target.