Business
Why the Red 5 (ASX:RED) share price is lifting 6% today
The Red 5 Ltd (ASX: RED) share price is on the move, up 6% in afternoon trading after earlier being up more than 11%.
This follows a company update on the ASX gold miner’s King of the Hills project.
What milestones did Red 5 report?
The Red 5 share price is lifting after the company reported it has cleared a key legislative hurdle and moved forward with an engineering contract at its King of the Hills gold mine in Western Australia.
On the legislative side, the company reported that the Department of Mines, Industry Regulation and Safety has approved its mining proposal for King of the Hills. This paves the way for Red 5 to recommence mining at the gold mine in 2022. The first gold production is forecast for the June 2022…
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