CAPITAL MARKETS

Commercial zinc production declared by Red River

New zinc miner in Queensland already boosting cash

Michael Quinn

This article is 6 years old. Images might not display.

Thalanga processed 79,000 tonnes of ore grading 0.5% copper, 3.2% lead and 6.2% zinc in the December quarter, just shy of the current annualised target rate of 325,000t per annum.

Annual production is targeted at 34,200t zinc equivalent, including 21,400t of zinc, 3600t of copper, 5000t of lead – plus gold and silver.

Life-of-mine cash costs are put at US18c per payable zinc pound after credits.

Red River has three mines in mind and can potentially substantially increase Thalanga plant throughput if exploration success warrants it.

The company’s cash balance increased by about 30% to $23.2 million (quarter-on-quarter).

Shares in Red River were up 11% to a 10-year high of 35.5c in afternoon trade, capitalising the company at $174 million. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.