Red River Resources (ASX:RVR) - Managing Director, Mel Palancian
Managing Director, Mel Palancian
Source: Sydney Mining Club
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Red River Resources (RVR) is now debt-free, after repaying US$5 million (~A$6.97 million) outstanding on its debt-financing facility
  • The facility was held with lead and zinc off-take partner Trafigura and was repaid with cash generated from the company’s Thalanga operations
  • Red River produces copper, lead and zinc concentrates at the project in Northern Queensland
  • Shares have jumped 10.7 per cent and are trading at 15.5 cents

Red River Resources (RVR) is now debt-free, after repaying US$5 million (~A$6.97 million) outstanding on its debt-financing facility.

The facility was held with the company’s lead and zinc off-take partner Trafigura and was repaid with cash generated from Red River’s Thalanga operations.

Red River has produced copper, lead and zinc concentrates at the project in Northern Queensland since September 2017.

The company is also working to diversify its commodity production and acquired the Hillgrove Gold Project in New South Wales where it intends to restart gold production later this year.

Earlier this week, the company updated the Hillgrove Mineral Resource to five million tonnes at 4.3 grams per tonne of gold and 1.5 per cent antimony for 692,000 ounces of contained gold and 75,000 tonnes of contained antimony.

Shares have jumped 10.7 per cent and been trading at 15.5 cents at 12:30 pm AEST.

RVR by the numbers
More From The Market Online
Two miners in a Westgold Resources dig site.

Westgold glitters with 2.4% gain as lofty gold prices lead to half-year glow

Westgold Resources has traded up today after the gold explorer nearly doubled its half-year revenues on…
Mpama South gravity plant, thickener area, fine tin plant and final product house

One-to-watch profitable mining stock breaks production records, wows investors

A profitable Venture-listed mining stock responsible for 6.5% of the world’s tin recently gifted investors with news it beat its own production record…
Image of a lithium brine project

Pantera begins drilling of maiden test well at Smackover

Pantera Minerals Ltd has commenced drilling of its first test well at the Smackover Lithium Brine…
The Market Online Video

Rick Rule looks ahead to U.S. election’s outcome and impact on energy

Rick Rule, president and CEO of Rule Investment Media, joins The Market Online in the above video to share his