Base and precious metals producer
The Proceedings relate to the obligation for Red River to pay royalties to TCM at its Thalanga Operations in northern
The final amount payable within the initial estimate and the timing of the payments has yet to be determined. Prior to these Proceedings, the royalties had no cap on the time period or dollar amounts that would have had to be paid by the Company from Thalanga.
Once determined, a final amount for these royalties can crystallise and Red River will have no ongoing royalty obligations to TCM. Red River is reviewing the judgement with its lawyers to assess its options and reserves its rights.
Management continues to focus on the commercial ramp up of Hillgrove, further optimising operations at Thalanga and increasing mineral resources inventories at both operations. Red River will provide further updates to the market in due course
About
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
Contact:
Mel Palancian
Tel: +61 3 9017 5380
Email: mpalancian@redriverresources.com.au
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