Red River Resources (ASX:RVR) - Managing Director, Mel Palancian
Managing Director, Mel Palancian
Source: Sydney Mining Club
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  • 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
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