The gold stock is targeting commissioning of its flagship 2.4 million ounce King of the Hills project early next year, which means one of Australia’s best endowed gold assets will be commissioned in mid-2022.
() has made further progress on its flagship King of the Hills (KOTH) project, where construction is underway on one of Australia’s richest gold assets.
During the month of September, the Gold Stockpile began installation work on its Semi-Autogenous Mill (SAG) – crucial equipment that will turn KOTH ore into finer particles for further processing.
In addition to advancing the plant, RED has also advanced work on its crushing equipment, carbon leach tanks, and power plant foundations.
The KOTH project – with 2.4 million ounces in reserve and a 16-year mine life – is on budget and on schedule, meaning it is expected to be commissioned in the June quarter 2022.
Pass milestones every month
Red 5 General Manager Mark Williams said, âSeptember was another month of progress for our construction and development teams, and King of the Hills is now rapidly shaping up as a new tier gold mine. intermediary from Australia.
âThanks to the diligence and hard work of our internal team, led by Project Manager Warren King and our contractual partner EPC MACA Interquip, development is moving forward and we continue to take important milestones every month.
âAs the photos show, some of the highlights for September included the start of installation of the large crusher shell and crusher metal construction.
âWith the painting of the CIL tanks and the construction of the ROM wall underway, the site as a whole is quickly starting to look like the state-of-the-art gold mining and processing center that it will soon become!
“We continue to benefit from locking down major items and long-term contracts last year as we are on schedule and on budget for first gold by the June 2022 quarter.”
The securities are now 17.78% higher at 26.5 cents and the company started the day with a market cap of around $ 530.2 million.
One of the key construction milestones in September was the start of installation work on the very large SAG crusher.
The 36-foot mill hull is currently being put in place, while the engines – which weigh 62 tons each – have been put in place.
Work on the crushing plants is also progressing, with the steel construction of the building in progress.
The concrete base and the chutes of the structure have been installed, while the gyratory crusher is assembled before it is put in place.
Work on a key retaining wall at the KOTH site continues, where nearly three-quarters of the 40 elevators are now complete.
Meanwhile, the four gigantic leaching carbon reservoirs, seen in the foreground of the image below, undergo a paint job.
Work on the project’s gold room is also progressing, with steel work on the large structure now underway.
RED is also working on the electrification of the KOTH site – the foundations for the power plant are now complete, which means the electrical cables can be installed.
The first gas engine is now in place and will soon help bring the gold project online.
Finally, the KOTH mining services building has been erected, while development continues.
Just beyond the treatment hub, earthworks for the fourth tailings storage facility are underway, paving the way for a wall lifter at the hub.
Proactive Gold Webinar
Red 5’s Director of Business Development Patrick Duffy will present the case of the company’s investors during next Tuesday’s Proactive Gold webinar.
The webinar will take place starting at noon Sydney time (9 a.m. Washington time) on Tuesday, October 12, and registrations can be made here.