Interesting read on RED 5 - The latest owners of  King Of The...

Interesting read on RED 5 - The latest owners of  King Of The Hills (formerly SBM's (and SAR's))...
You can do your own reading on KOTH - it certainly appears that RED 5 are on to something here with new geological interpretation / drilling. Time will tell (with committed drilling program) but it makes you wonder if SBM missed this - with all the focus (back then) on Simberi (and what turned out to be a very average acquisition of Canadian pump up, Allied Gold). SBM pulled 0.3 M Oz out of the U/G at KOTH..

This is what was in the latest RED 5 note...

Historical mine data shows that the Tarmoola Open Pit produced approximately 28 million tonnes grading 1.8g/tAu for 1.65 million ounces of contained gold between 1985 and 2004, with the open pit operations prematurelyending in mineralised material due to a slippage on the open pit eastern wall.To date, the underground mining operation has produced 2.48 million tonnes grading 4.3g/t Au for 319,000ounces of gold (2011 to September 2018) with underground mining focused on the extraction of high-grademineralised veins.Red 5 is currently reviewing the bulk mineralisation that continues below the historical open pit and down alongthe eastern extent of the granodiorite damage zone (see Figure 3).Red 5’s Managing Director, Mark Williams said the exploration opportunity at KOTH is continuing to grow.“The more we learn about this target, the more exciting it becomes – the damage zone associated with thegranodiorite unit has genuine potential to transform the King of the Hills mining operation,” he said.

With SBM needing an acquisition (after a couple of years of chatter about it and no real action other than investing in others potential success) - perhaps keeping an eye closer to home is the order of the day..
Time to do something..