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Red River Resources Ltd

Red River Resources lowers costs, increases earnings in September quarter

Concentrate production tonnages improved significantly during the September quarter.

project location map in Queensland
Record quarterly zinc concentrate production was up 24% on the June quarter

Red River Resources Ltd (ASX:RVR) achieved $16.3 million in revenue from concentrate sales for the September quarter from its Thalanga Zinc Operations located in central Queensland.

C1 cash costs were 25% lower than the prior June quarter at US$0.70 per pound of payable zinc metal and EBITDA increased $1.7 million to $1.3 million.

At the end of the quarter, Red River had a cash balance of $17.4 million plus financial assets of $8.8 million with its US$10 million working capital facility undrawn.

READ: Red River Resources has record September quarter at zinc mine

Red River achieved record production from the West 45 deposit and record mill throughput at its Thalanga Zinc Operations located in central Queensland.

Stoping continued at the West 45 underground mine, with quarterly production of 90,000 tonnes grading 8.8% zinc equivalent.

The process plant’s record quarterly throughput reached 98,000 tonnes at 8.2% zinc equivalent.

Quick facts: Red River Resources Ltd

Price: $0.17

Market: ASX
Market Cap: $80.96 m
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