Contract Award

Engineering, Procurement and Construction Management contract for the Siana Gold Project awarded to TWP Australia

Red 5 Limited has awarded TWP Australia, the EPCM contract to develop the gold plant and associated infrastructure for the Siana Gold Project in the Philippines.

The TWP Australia bid was one of several high quality tenders submitted by metallurgical process design consultancies from around the world. The selection of TWP Australia culminates an intensive review of the EPCM capabilities of each of these groups.

TWP Australia provides specialist engineering and project management services to the mining industry and more specifically will provide engineering (design), procurement, and construction management (EPCM) to the development of the Siana Project. In particular, TWP's innovative project control and scheduling approach, coupled with superior design capabilities, will ensure the project's successful development to first gold pour.

A letter of intent has been received by TWP Australia highlighting the Company's intention to enter into an EPCM contract, subject to successfully negotiating such an agreement. In the interim, TWP has commenced preliminary engineering work and reviews, including optimisation of the project schedule.

The awarding of the EPCM contract is a major milestone in the development of the Siana Gold Project. The Company is currently reviewing open pit mining contract tender submissions.

Greg Edwards

Managing Director - Red 5 Limited