Red River Resources (ASX: RVR)
Announced it has signed an offtake agreement with leading global commodity producer and trader Glencore International AG for gold concentrate produced at its Hillgrove Gold Mine in New South Wales.
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| Red River Resources | ASX : RVR |
| Stage | Production / Exploration |
| Metals | Gold, Antimony, Copper, Zinc, Lead |
| Market cap | A$106 m @ 20c |
| Location | Queensland + New South Wales |
Red River secures offtake deal with Glencore for Hillgrove gold
Red River Resources Limited (“Red River” or “the Company”) (ASX: RVR) is pleased to announce it has signed an offtake agreement with leading global commodity producer and trader Glencore International AG for gold concentrate produced at its Hillgrove Gold Mine in New South Wales.
Red River commenced gold production from Bakers Creek stockpile material in December 2020 and will sell 100% of gold concentrate produced at Hillgrove to Glencore under the offtake agreement.
Red River trucked its first load of gold concentrate from Hillgrove on 18 June 2021. Commissioning activities at Hillgrove are progressing.
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Highlights:
• Red River Resources signs offtake agreement with Glencore International AG for gold
concentrate produced from Hillgrove’s Bakers Creek stockpile
• Glencore is also Red River’s copper offtake partner at Thalanga Base Metal Operations
• Red River has commenced trucking gold concentrates from Hillgrove.
Red River Resources Management Comments
“It’s great to have the support of Glencore for Hillgrove given our strong four-year working relationship to date.
“Also to commence trucking our gold concentrates to add to our Hillgrove gold dore revenues.
“We are focused on the commercial ramp up at Hillgrove whilst also increasing our JORC 2012 resource base.”
Red River Managing Director Mel Palancian
About Red River Resources (ASX: RVR)
RVR is building a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development.
RVR’s foundation asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017.
RVR has commenced production at the high-grade Hillgrove Gold Operation in New South Wales which was acquired in 2019.
The Hillgrove Operation is a key part of RVR’s strategy to build a multi-asset operating business focused on base and precious metals.
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To read the article in full, please click HERE
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At the current time the writer is a shareholder of Red River Resources, bought in the market at the prevailing price on the day of purchase.
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