Red 5's King of the Hills gold mine achieved exceptional results in the June 2023 quarter, recording four months of record gold production. With 61,705 ounces produced, a significant increase from the previous quarter, the company's sales reached 58,960 ounces, generating operating cash flows of $50.6 million. Demonstrating strong operational efficiency, Red 5 met its production and cost guidance for the second half of the fiscal year, producing 102,574 ounces at an AISC of $1837/oz. Equally noteworthy was the company's commitment to safety, achieving a remarkable improvement with no recordable injuries during the quarter. In addition to successful operations, Red 5 made strategic board appointments and improved its financial position by reducing net debt to $81.9 million. The positive outcomes pave the way for Red 5's promising future, with a focus on continued safe and profitable growth at the KOTH processing hub.
