A number of ASX 300 gold shares are rising on Monday, but their gains pale in comparison to the two miners listed below.
Thanks to strong updates, they are charging higher in morning trade. Here's what you need to know:
Red 5 Limited (ASX: RED)
The Red 5 share price is up 7% to 30 cents. This follows the release of a production update from the ASX 300 gold share this morning.
The gold miner revealed that it achieved gold production of 53,017 ounces for the December quarter from the King of the Hills (KOTH) Gold Project, located in the Eastern Goldfields region of Western Australia.
This means that its production for the first half of FY 2024 was 108,026 ounces, which puts the company firmly on track to achieve the upper end of its full-year production guidance of 195,000 ounces to 215,000 ounces.
Red 5's net debt position reduced by $18.6 million for the quarter to $49.6 million.
Silver Lake Resources Ltd (ASX: SLR)
The Silver Lake share price is up 4% to $1.175 after investors responded positively to the gold miner's quarterly update.
The ASX 300 gold share reported quarterly sales volumes of 57,360 ounces of gold and 239 tonnes of copper. This brought its half-year sales to 122,781 ounces of gold and 534 tonnes of copper.
While no dollar sales figures were provided, the company notes that it ended the half year with a net cash, bullion and liquid investments position of $421 million. This was up almost 18% from $358 million at the end of September.
Management believes this strong operating performance and cash generation has Silver Lake well positioned to build on its nine consecutive years of meeting guidance.
