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The Siana Gold Project is located in the north-east of the island of Mindanao, not so far from the Masbate Gold Project that you have just heard about. The project is located in an old mining district, in a very safe area.There is a common misconception that all of Mindanao is Muslim dominated, but in fact we have a 50% Protestant, 50% Roman Catholic community, and no issues from the local churches. We have excellent local infrastructure——“there is a shipping port nearby at Surigao City, an airport, and a major concrete highway running past the project, located some 40 kilometres from the city.It’s a very strategic land position geologically speaking, with numerous epithermal gold and porphyry copper occurrences in the region. In fact just 5 kilometres from Siana, there is a very large porphyry copper deposit still not drilled out, discovered by Anglo American. In collaboration with our joint venture partner we are operating under a Mineral Production Sharing Agreement, which is a very secure form of mining title in the Philippines. It is equivalent to a mining lease in Australian terms. Red 5 has been in the Philippines since December 2002 when the MPSA was granted and has spent about A$22 million to date.
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译文：
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希艾娜金矿开发项目（Siana Gold Project）将在棉兰老岛/明达瑙岛（island of Mindanao）的东北部落实开展，与诸位刚听到的马斯巴特金矿开发项目（Masbate Gold Project）的落实地相距不远。该项目将在一个历时已久的矿山管区，也就是说将在一个安全的区域内开展。对于棉兰老岛/明达瑙岛（island of Mindanao），大家普遍都有一个错误的印象，就是认为该岛居民多是穆斯林信徒，但实际上，50%的居民是新教徒，而另外的50%则属于罗马天主教派，因此我们与当地的教会相安无事。我们在当地有绝佳的基础设施条件，在苏里高市（Surigao City）周边有一个运输港口和一个机场，在距离苏里高市约40公里的地方还有一条穿越此项目矿区的主干高速公路。从地理位置上来看，这儿是一个非常具有战略意义的区域，它拥有数之不尽的浅成低温热液金矿床和斑岩铜矿矿藏。事实上，在距离希艾娜（Siana）只有5公里之遥的地方，有一个在美国盎格鲁（Anglo American）时期就被发现，但至今仍未被完全开发的斑岩铜矿矿床。在我们公司与合资合伙人合作期间，我们会按照签署的矿产开采共享条约严格执行开发任务。这个条约在菲律宾是保障开采权的一种非常稳妥的形式，它就相当于我们澳大利亚的采矿契约。瑞德5号有限公司自2002年12月份获得MPSA起就已进军菲律宾，至今为止，已相继投入资金约2,200万澳元。
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