Overview of Red 5's March 2024 Quarter Results

Red 5 Limited (ASX: $RED) has reported a successful March 2024 Quarter, achieving gold production of 50,132 ounces from the King of the Hills (KOTH) Gold Project. The company's combined cash and liquid assets have reached $58.3 million, with net debt reduced to $41.9 million as of 31 March 2024. Red 5 is well positioned to meet its full year production guidance for FY24.

Executive Commentary on March 2024 Quarter Results

The Company is pleased to announce that we have once again surpassed the 50,000-ounce mark in gold production for the fourth consecutive quarter. Despite the planned SAG mill reline and some unplanned downtime, our operational performance remained strong. With no major shutdowns planned for the rest of the financial year, we anticipate higher production in the upcoming June Quarter. Our increased cash and liquid assets, along with the reduction in net debt, reflect our commitment to maintaining a solid financial position while investing in the future of our mines.

Summary of Red 5's March 2024 Quarter Performance

Red 5's March 2024 Quarter results demonstrate the company's consistent operational performance, with gold production exceeding 50,000 ounces for the fourth consecutive quarter. Despite challenges such as the planned SAG mill reline and unplanned downtime, the KOTH Gold Project and other mines continued to perform well. The company's strong cash position and reduction in net debt indicate financial stability and prudent investment in future mine development. With the expectation of higher production in the June Quarter and the potential to meet the upper end of its annual gold production guidance for FY24, Red 5 remains focused on delivering sustainable results and maintaining a positive outlook for the future.