A prefeasibility study (PFS) for the King of the Hills gold project, in Western Australia, has estimated a capital cost of A$218-million to develop an openpit mine supporting a long-term bulk mining operation.
Underpinned by a maiden openpit mineral reserve estimate of 1.45-million ounces, ASX-listed Red 5 on Thursday said that the project could support an average annual production of 140 000 oz over a mine life of ten years.