R3D Resources

First Copper Sulphate Shipment Ready

Tartana Copper Sulphate Production Meets Minimum Shipment Level

R3D Resources Limited (ASX: R3D) (the Company), is pleased to advise that it has produced its first shipment of Copper Sulphate Pentahydrate (Copper Sulphate) which is ready for collection at the Tartana mine site. Minimum shipments are 28 bags weighing approximately 1.2 tonne each. The Copper Sulphate comprises 25% Copper and is priced at 25% of the LME copper price plus a premium.


HIGHLIGHTS:
  • Production of 28 bulka bags (approximately 34 tonne) of Copper Sulphate Pentahydrate has been completed at Tartana Plant, with this production meeting the minimum shipment requirements
  • Offtaker, Kanins International, will purchase the shipment at mine gate, providing important cash flow
  • Production is expected to continue early next week again, pending supply of reagents and additional pumps
  • Profit margins continue to increase with Copper price improvement which is currently ~US$9000 per tonne
  • First $500k of the Rights Issue has been underwritten by Breakaway Investment (controlled by Stephen Bartrop) and is presently scheduled to close on Wednesday, 10 April 2024

R3D bulka bags ready for shipment

R3D Managing Director, Stephen Bartrop, commented:

“It is very exciting to announce the milestone of the first shipment of Copper Sulphate which is ready for pick up by our offtake partner Kanins. This is an important milestone and it means that Tartana’s Copper Sulphate is now entering the Australian technical grade market.

“We are also encouraged with the increase in the copper price which is now around US$9,000 per tonne. We have a positive outlook for the Copper market, influenced by electric vehicle market and energy transition. A potential appreciating Renminbi will also make it cheaper for Chinese consumers.”

The Company continues to expect Kanins to pay for the product at mine gate, pending arrangement of transportation of the product. The Walsh River crossing nearest to the Tartana site continues to be at a level making truck transportation difficult – both for our product to leave the site, and for input materials to be received.


Click here for the full ASX Release

This article includes content from Red Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


R3D:AU
The Conversation (0)
Aurum Resources

Takeover Offer for Mako Gold Limited – Share Offer Unconditional and Status of Offers Conditions

Aurum Resources Limited (ASX: AUE) (Aurum) refers to its off-market takeover offer to acquire all of the ordinary shares (Share Offer) and certain options (Option Offers) in Mako Gold Limited (ASX:MKG) (Mako) pursuant to its bidder’s statement dated 30 October 2024 (as supplemented or replaced from time to time) (Bidder’s Statement).

Keep reading...Show less
Rows of gold bars.

Top 10 Gold Reserves by Country

Gold is one of the most important metals on the planet. For millennia it has been used in jewelry, art and currency, capturing the collective imagination as a thing of wonder. Gold's association with royalty and wealth has inspired explorers and treasure hunters alike, who put themselves at risk for a chance to strike it rich.

Today, gold's hold on us as a precious metal is no less powerful. Still used for jewelry and as a store of wealth, the metal also has a variety of modern industrial and electronic applications.

Even though gold seems to be everywhere, in reality it's a finite resource. Only 244,000 metric tons of gold have ever been mined, and two-thirds of that has been extracted since 1950. Comparing that amount to the more than 700 million metric tons of copper that have been pulled from the ground provides an idea of how precious a resource gold truly is.

Keep reading...Show less
Physical gold bar and gold Maple Leaf coin with small gold nuggets on top.

A Guide to Investing in Physical Gold (Updated 2024)

Gold is known as an attractive safe-haven investment and has been used to store wealth during volatile times through history.

It has interesting currency-like tendencies, and retains its purchasing power better than paper currencies.

For that reason, gold market analysts typically recommend that investors build a diversified portfolio with a portion of their wealth in gold bullion. Here the Investing News Network explains what's involved in building and managing a physical gold portfolio.

Keep reading...Show less
Providence Insider Participates in Financing

Providence Insider Participates in Financing

Providence Gold Mines Inc. (“the Company) is pleased to announce further to the Private placement announced on November 14, 2024 that an insider of the Company is participating in the first tranche of the private placement in the amount of $75,000 Cdn for 1,500,000 units at $0.05 per unit. Each unit comprises of one common share and one non-transferable warrant exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing. The funds will be used for general purposes.

As announced, a placement of up to $1,800,000 Cdn for 36,000,000 units at $0.05 per unit is now underway. Each unit will comprise of one common share and one non-transferable warrant, exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing.

Keep reading...Show less
Tempest Minerals

TEM | Yalgoo Update - Further Excellent Iron Results

Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.

Keep reading...Show less

Latest Press Releases

Related News

×