Sign up Australia
Proactive Investors - Run By Investors For Investors

Red River Resources receives milestone first payment for Thalanga zinc

Thalanga in Central Queensland is Australia’s newest zinc mine.
Red River Resources receives milestone first payment for Thalanga zinc
Red River has also been receiving some broker attention

Red River Resources Ltd (ASX:RVR) has now received the first payment for the sale of zinc concentrate from the Thalanga Mine, located in Central Queensland.

The payment marks the commencement of strong ongoing cash flow from the project.

Zinc and lead concentrates from Thalanga are sold under an offtake agreement to Trafigura Pte Ltd.

The off-take is in respect of 122,000 dry metric tonnes of zinc concentrate and 27,400 dry metric tonnes of lead concentrate, with pricing being determined by reference to the applicable metal prices on the London Metal Exchange at the time of shipment.

The concentrate tonnage is expected to be shipped in the first 36 months following commencement of commercial production.

The broker community has also been watching the stock closely.

READ NOW: Red River attracts increased broker targets following transition to zinc producer

View full RVR profile View Profile

Red River Resources Ltd Timeline

Related Articles

Picture of drill rig
May 03 2018
The Strickland project covers over 100 strike kilometres of greenstone belts and straddles the Evanston and Yuinmery Shear Zones.
underground mine
April 26 2018
Orion is moving steadily towards a production decision at the Prieska mine in South Africa
Picture of area surrounding Paradox Lithium Project
May 07 2018
Cloud, Cane and LC South will be part of Anson's Paradox project with the claims being close to oil wells with historically recorded lithium values.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use