Red River Resources Limited (ASX:RVR) has achieved improved operating performance from its Thalanga Operation in Northern Queensland during the June quarter.
Notably, electrical switchgear upgrade at the West 45 mine materially reduced downtime due to power outages.
Combined with increases in production drilling and cemented rock filling productivity rates, Red River mined record tonnes at the West 45.
Thalanga operations summary
Importantly, Red River ended the quarter with a cash balance of $20.2 million, an increase of $2.7 million from 31 March 2018 and has no debt.
The company has invested substantially in exploration and capital development at West 45 and commenced mining at Far West during the quarter.
READ: Red River Resources moves forward with Far West development by awarding mining contract
The company also has strong exploration results from the Liontown East Project as it moves towards the declaration of a maiden Liontown East JORC resource.