Red River Resources Limited

Red River Resources director lifts holding in zinc producer through on-market purchase

Donald Garner has acquired more than 14,000 shares and now holds in excess of 7.609 million.

Processing facilities at Thalanga Operations
The company is producing from the Thalanga Operations in north Queensland

Red River Resources Limited (ASX:RVR) director Donald Garner has demonstrated his confidence in the company’s zinc-focused Queensland operations by acquiring shares on-market.

The executive director increased his holding in the company through an on-market purchase on December 19 of more than 14,000 shares.

This purchase means he now holds more than 7.609 million ordinary shares in the zinc-focused base and precious metals producer.

READ: Red River’s development at Far West on track to increase Thalanga production

Red River is producing zinc along with lead, copper, gold and silver from the Thalanga Operations in northern Queensland.

The company is advancing a decline to access underground ore at the Far West deposit which will augment production from the West 45 mine.

Ore production from Far West is on schedule to begin during the first quarter of 2019 and is expected to extend production at the Thalanga Operations for at least the next five years.

READ: Red River Resources Limited has more strong base and precious metals results underground at Thalanga

The company is also planning to undertake further drilling in early 2019 to target extensions of the high-grade mineralisation.

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

Red River mined, processed and produced record amounts from the operation during the September quarter.

There were 6,800 tonnes of zinc concentrate produced, an increase of 24% on the previous quarter and 2,747 tonnes of lead concentrate, a 33% increase on the June quarter.

Quick facts: Red River Resources Limited

Price: $0.16

Market: ASX
Market Cap: $79.62 m

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