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The miner significantly boosted output and sales of copper, zinc and lead at Thalanga, with increasing A$20 million quarter-on-quarter to $35 million and earnings going from $3.5 million to $13.8 million - on an EBITDA basis.
Red River had a cash balance of $12.5 million (plus financial assets of $12.9 million comprising cash backed security bonds and deposits) at the end of September, up from $8.1 million at the end of June.
The miner became debt free in the September quarter after repayment of a US$6 million working capital facility.
Meanwhile, production at the third-party developed Hillgrove has been outlined for an initial 12 months or so, with exploration underway to end mine life.
Initial operations will focus on a 225,000t stockpile grading 2.5 grams per tonne, with pre-production capex expected to be about A$5 million.
Shares in Red River were up 2.5% to 21c in late trade, capitalising the company at $109 million.
The stock is up four-fold since March.
