Red 5 lowers March quarter guidance on Darlot mill issues

The share price of gold miner Red 5 slid by more than 11% on Tuesday as the company amended its production guidance for the March quarter following operational issues at the Darlot mill, in Western Australia. Red 5 on Tuesday lowered its March quarter production to be between 12 000 oz and 15 000 oz, from an initial guidance of between 16 000 oz and 19 000 oz, on the back of issues relating the gear and clutch on Mill 1 at the Darlot mill.