Red 5 Limited (Red 5) is engaged in the completion of the mine development and construction phase of the Siana gold project. During the fiscal year ended June 30, 2012 (fiscal 2012), the Siana gold project moved into the production phase. Its Siana gold assets are located in the Philippine. In February 2012, an initial gold and silver dore bar was produced at the Siana mine. As of June 30, 2012, a total of 5,586 ounces were produced, of which 2,079 ounces were produced after commercial production was declared on the Siana project in mid-April 2012. In May 2012 and June 2012, the Siana project recorded gold sales of 2,742 ounces.