Red River production recovers

RED River Resources was punished by investors last month after delivering a loss after issues emerged at its new Far West decline in Queensland, but managing director Mel Palancian has delivered on a promise the pain would be short-lived with record copper production for January.
Red River production recovers Red River production recovers Red River production recovers Red River production recovers Red River production recovers

Far West appears to have recovered.

Haydn Black


The Queensland miner produced 860 tonnes, up 31% on December's monthly production, which bodes well considering Red River produced 1560t of the red metal for the December quarter.
Monthly lead and zinc concentrate production were up 12% and 13% respectively at 1431t and 357t, compared to 3781t zinc and 876t lead for the prior quarter.
Ore mined for the month was 34,503t while 27,367t was pushed through the Thalanga mill.
The miner had hoped to complete mining at West 45, but was forced to keep it operating to keep the mill fed after Far West offered some ground support and productivity issues in the upper levels, and some metallurgical issues from the transitional ore.
Far West's issues appear to be settling down, with mining recovering 12% more ore at 26,322t for month compared to December. 
The company also continues to push ahead with its precious metals strategy, with a decision waste recovery on Hillgrove in New South Wales expected soon, and promising results from its Charters Towers regional exploration reported recently.
At New Homestead, 3km from Thalanga, sampling of historical gold workings returned almost 60 grams per tonne.
Red River shares recovered 5% in midday trade to rise from its 12-month low of A9.6c to 10.5c, increasing the company's value to $54 million.
It is still well off its peak of 23c from in the first half of 2019.