Red River Resources (RVR.ASX)

Red River Resources Limited is an emerging zinc producer with production and sales to start in Q4, 2017.   In March 2014, we organised a group of investors to buy 70% of Red River Resources from Iron Mountain Mining Limited at a price of 0.73 of a cent and a market capitalisation of $0.5m.

At the end of this transaction, Paul Hart (Executive Director at Canary Capital) became a director of the company and together with the management team, set the company on a new strategic course. Paul Hart resigned as director in January 2018.

Since this time, Red River has made significant progress and is about to recommence its commercial production at its Thalanga zinc project. The Thalanga plant refurbishment is also on track and budget.

The team at Canary Capital have been involved with Red River Resources since the beginning. We’ve now watched it grow to a company with a current market capitalisation of A$110m.  Our network of investors have participated in all capital raisings along the way.

We look forward to the next exciting stage as the company recommences production at the Thalanga project at a time when zinc prices are the highest they have been for a decade. This should enable the company to generate significant profits and cash flow for shareholders.

Red River Resources controls the prime exploration ground in the region so the potential for further significant discoveries is real and exciting. The company is firmly focused on discovering more ore, and increasing the plant utilisation up to 100 percent.

   Key milestones delivered

APR 2014

Red River’s new strategy is announced.

MAY 2014

initial capital raising of $400,000 at 4.5 cents.

JUL 2014

acquisition of Thalanga project from liquidators for $6.5m.

SEP 2014

capital raising of $7.5m at 10c to fund Thalanga purchase.

OCT 2014

acquisition of Thalanga successfully completed.

OCT 2015

operational restart feasibility study is delivered.

DEC 2016

$30m raised at 18.5 c for Thalanga’s operational restart.

APR 2017

start of mining operations at West 45 deposit.

Red River Resources ASX Price History


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