ASX Round-Up: A Look at Red 5 and Western Mining Network

The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Red 5 and Western Mining Network.

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Red 5 (ASX:RED) and Western Mining Network (ASX:WMN).

Red 5 is a Western Australia-based gold exploration company whose principal asset is the Siana gold project on the island of Mindanao in the Philippines. Currently Siana is an open-pit mine, but the company plans to transition to underground mining in the future.

Western Mining Network was incorporated for the purpose of acquiring resource-based projects in Indonesia. The company currently has three projects in Central and Southwest Sulawesi: the Tamboli graphite project, the Persada gold project and the Genesis manganese project. At the end of April, Western Mining signed a letter of intent with Dongsung Hichem (KOSDAQ:013450) for the purchase of up to 50,000 tonnes of graphite a year from Tamboli.

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