5: RED5 Limited

5

RED5 Limited

Red5 Limited owns the King of the Hills (KOTH) gold deposit, ranked among the top 10-largest ore reserves in Australia.

In March 2021, the company entered a Power Purchase Agreement (PPA) with Zenith Energy for a hybrid energy installation at the project.

Zenith Pacific (KOTH) Pty Ltd (Zenith), a subsidiary of Zenith Energy Limited, will build, own and operate the power facility. High-efficiency reciprocating gas generation, a 2 MW PV solar farm, and a battery energy storage system will combine to produce 30 MW of power supply for the KOTH mine.

The term of the PPA is 10 years, commencing in the March quarter of 2022. In the event the mine is run at a throughput higher than 4 Mtpa, the PPA contains a provision to enhance the capacity of the power plant.

The arrangement “provides the efficiency and stability required for the processing plant and

infrastructure to enable King of the Hills to be a long-life, low-cost gold producer,” said Red 5 Managing Director Mark Williams.

Red 5 has separately contracted for the gas supply from the Goldfields Gas Pipeline, about 13 km from the mine. The hot tap into the pipeline has been completed, while the gas lateral pipeline installation is underway.