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

    Investing News Network
    Jun. 12, 2015 11:05AM PST
    Resource Investing News

    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.

     

    Related reading: 

    ASX Round-Up: Highlighting Troy Resources and Hillgrove Resources

    ASX Round-Up: Looking at Focus Minerals and Alkane Resources

    ASX Round-Up: An Overview of RTG  Mining and Intrepid Mines

    ASX Round-Up: Spotlight on ABM Resources and Amex Resources

    ASX Round-Up: Aditya Birla and Greenland Minerals and Energy in Focus

    western australiagold exploration companyasx:wmnaustraliaunderground mininggreenland minerals and energy
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