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.
