Red 5 Reports FY24 Annual Financial Results
Key points
- Record gold production of 223,498 ounces, contributing to gross gold sales of $614.5 million
- Completed merger with Silver Lake Resources, creating a diversified, leading mid-tier gold company
- Incurred a loss of $5.4 million, including $43.4 million in acquisition and stamp duty costs
Full summary
Red 5 Limited reported its financial results for the year ended 30 June 2024. The company had record gold production of 223,498 ounces, contributing to gross gold sales of $614.5 million. This included 11,559 ounces for $36.9 million from Silver Lake operations following the merger on 19 June 2024. The company completed the merger with Silver Lake Resources, creating a diversified, leading mid-tier gold company with a strong balance sheet positioned for growth. Red 5 incurred a loss for the period of $5.4 million, which included $43.4 million in acquisition and stamp duty costs related to the merger. The company did not pay or propose any dividends during the year. Red 5's net tangible assets per ordinary share for the year ended 30 June 2024 was $0.24.
Guidance
Red 5 did not provide any high-importance, price-sensitive forward-looking financial metrics in the announcement.
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