First gold for Siana
6th Feb 2012
PERTH, Feb 6 – The Siana gold mine in the Philippines has produced its first gold for its Australian operator Red5.
The commissioning phase at the mine in Surigao del Norte produced a 228oz bar containing an estimated 50% gold and 50% silver, derived from the Siana low grade stockpiles, minor Mapawa low grade stockpiles and ore exposed during pre-strip of the upper pit benches.
The company says materials handling issues at transfer points due to sticky ore are largely resolved and the gold plant commissioning is progressing satisfactory.
Managing director Greg Edwards says Red5 will provide new production guidance including cash flows and cash costs at the end of this month.
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