PERTH (miningweekly.com) – Base metals producer Red River Resources has reported its first net profits after tax, after starting production at its Thalanga zinc project, in Queensland.
The ASX-listed company has reported revenues of A$17.7-million for the three months to December, compared with the A$245 334 reported in the previous corresponding period, along with a profit after tax of more than A$6-million, compared with a loss of more than A$1-million in the previous corresponding period.
Copper, lead and zinc production from the Thalanga mine started in September last year, with commercial production declared at the end of December.
A total of 99 000 t of ore was mined from the underground operations during the period under review, with some 7 205 t of zinc concentrate, 3 332 t of lead concentrate and 708 t of copper concentrate produced.