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Red River Resources Ltd

Red River Resources' directors exercise in-the-money options

The Thalanga zinc project is located in central Queensland.

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Red River's shares last traded at $0.31

Red River Resources Ltd (ASX:RVR) share price has doubled to $0.31 over the past 12-months, with the company receiving a positive re-rating as production re-commenced from the Thalanga zinc project, also assisted by a continual increase in the underlying commodity price.

Go back two years and the shares have tripled.

The rise share price has provided the opportunity for options to be exercised, with directors of the company providing further support with their own money.

Mark Hanlon, non-executive director, has exercised 500,000 $0.15 options before their expiry date in December 2017, for a consideration of $75,000.

Hanlon now holds over 2.9 million shares.

Brett Fletcher, non-executive chairman, reported an increase in indirect holdings through Julie Fletcher, who exercised 119,048 of the same options for nearly $18,000.

Mel Palancian, managing director, exercised 50,000 options to increase his holding to 425,000 shares.

READ NOW: Red River set for cash flow from zinc production

Quick facts: Red River Resources Ltd

Price: $0.17

Market: ASX
Market Cap: $83.42 m
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