Tag: Red 5 managing director Mark Williams

The spate of gold miners merging continues with this latest announcement by Red 5 and Silver Lake Resources.

Red 5-Silver Lake Resources to merge

In breaking news, Red 5 Ltd (ASX: RED) and Silver Lake Resources (ASX: SLR) will merge to create a 445,000ozpa mid-tier gold mining company, with ore reserves and mineral resource inventory of 4moz and 12.4moz respectively. Once the merger is finalised, the company will have ownership of four gold projects: King of the Hills (KOTH), Deflector operations, Mount Monger operations, all three in WA, with the Sugar Zone project in Ontario, Canada. Silver Lake managing director Luke Tonkin says “this transaction represents a highly complementary combination of assets and balance sheets for the mutual benefit of both Silver Lake and Red 5 shareholders”. Red 5 managing director Mark Williams says the “logical merger of two leading mid-tier gold companies …

Red 5: Go For Gold

Red 5: Go For Gold

Image: Red 5. BY EMMA DAVIES RED 5 recently celebrated 30 years of continuous production at its newly acquired Darlot gold mine in the Eastern Goldfields, WA, and with positive results from drilling at its King of the Hills mine, the company looks set for a productive year ahead. The Darlot mine was acquired by Red 5 from Gold Fields in October 2017 and has historically produced almost 3 million ounces of gold – with the company confident the site will continue to produce consistently for years to come. Red 5’s other major operation, the King of the Hills (KOTH) mine, which is acquired from Saracen also in 2017, had seen its resources almost triple to 1.9 million ounces of…