Red River posts profit

NEWLY-minted zinc miner Red River Resources has managed to post a profit of A$6 million after just a few months of operations at the Thalanga operations in Queensland, which have restarted after five years on care and maintenance.

Red River posts profit Red River posts profit Red River posts profit Red River posts profit Red River posts profit

Thalanga

Red River started production in September, shipped its first copper, lead and zinc concentrates in October and declared commerciality in December, generating revenue of $17.8 million for the six months to December 31.
 
Some 99,000t of ore was taken from the West 45 Underground with reported grades of 0.3% copper, 2.5% lead and 5.3% zinc, of which 96,000t was processed at grades of 0.5% copper, 3% lead and 5.7% zinc.
 
Operationally, the lead and zinc concentrates have been reportedly high-grade and clean, while the lead concentrate does contain some precious metals, including payable gold recoveries - something that was not anticipated in the 2015 restart study.
 
Total underground development w...

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