Red 5 told the ASX on Wednesday the mine churned out 19,039 ounces of gold during May, up from 18,633oz in April.
The company noted it was the third consecutive month of record production at the $226 million operation which poured first gold one year ago this week.
Red 5 said May’s output came from 0.35Mt of ore processed at an average head grade of 1.80g/t with a gold recovery of 93.6 per cent.
This was while completing planned mill and crusher maintenance which resulted in four days of zero mill production during the month.
The company said work undertaken included replacing the crusher’s mantle and concave liners, replacing the mill’s original discharge grates with ones which were nine times larger, and replacing and bolstering heavy wear areas.
Red 5 said the open-pit and underground mines continued to perform well during the month, with run-of-mine stockpiles containing an estimated 560,000t of ore grading an estimated 1.2 g/t at the end of May.
First gold was poured at King of the Hills on June 5 last year following a five-year journey to develop the mine and 4.7Mtpa processing plant which has a 2.7Moz ore reserve and 16-year life.
Red 5 picked up King of the Hills from Saracen Mineral Holdings in 2017, along with the Darlot goldmine near Leinster from Gold Fields, for a combined $34.5 million in cash and scrip on October 2, 2017.
The company on Wednesday said production guidance for the second half of the 2022-23 financial year remained at 90,000oz-105,000oz at an all-in-sustaining cost $1750/oz-$1950/oz.
