Red River Resources Ltd (ASX:RVR) non-executive director Mark Hanlon has demonstrated his confidence in the company’s strategy by purchasing shares on-market.
Hanlon has bought one million shares for a total consideration of $151,544.54.
Red River’s zinc concentrate production from its Thalanga operations in Queensland was 6,199 dry metric tonnes (DMT) in the September quarter, while lead concentration production was 2,016 DMT and copper concentrate production was 1,372 DMT.
Canaccord Genuity and Hartleys have maintained their speculative buy rating for Red River with a target price of 35 cents per share and 39 cents per share respectively.
Far West mine
Red River recently fired the first production stope at the Far West mine, part of the Thalanga operations.
The first stope ore was delivered to the Thalanga run-of-mine pad and production from the mine will progressively ramp up to more than 300,000 tonnes a year.