Red River Resources Ltd (ASX:RVR)

Red River Resources Ltd (ASX:RVR)

Share Price
$ 0.19
0 (0.00 %)
Market Cap
$93.23 m
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Red River Resources Ltd

Red River Resources Ltd (ASX:RVR) is a zinc, lead & copper producer with significant gold and silver credits.

Market: ASX:RVR
52-week High/Low: A$0.26 / A$0.15
Sector: Mining
Market Cap: $93.23 m
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Big Picture – A Deep Dive Examination of Red River Resources Ltd

Red River Resources Ltd Snapshot

The primary goal of Red River Resources is to deliver our shareholders sustainable capital growth in addition to cash flow in the form of dividends, from the exploration, acquisition development and operation of mineral resources.



  • Commenced concentrate production in September 2017, ahead of schedule and on budget
  • Producing zinc, copper and lead concentrates
  • Offtake agreements in place with Glencore and Trafigura for three years
  • Mining underway at West 45 deposit, with Far West deposit (1.6Mt @ 14.9% Zn Eq) next to come online
  • Available capacity of 650,000tpa, expected to process 300-400,000tpa – potential to process additional tonnage
  • Regional exploration underway to discover next generation of deposits to provide additional feed to Thalanga.

Thalanga Zinc Project

Red River Resources’ Thalanga Zinc Project consists of the Thalanga Mill and base metal deposits at West 45, Far West, Waterloo, Orient and Liontown, located about 65km southwest of Charters Towers in central Queensland.

(click here for more information on this project)

West 45

The West 45 deposit is the first to be mined at Thalanga as part of the recommencement of concentrate production. It consists of five semi‐massive to massive sulphide lenses rich in zinc and lead.
West 45 hosts a JORC Code (2012) compliant Ore Reserve of 567kt at 11.6% Zn Eq. and a Mineral Resource estimate of 582kt at 15.45% Zn Eq. using a cut-off grade of 5% Zn Eq., as at 20 December 2017.

(click here for more information on this project)

Thalanga Far West

Far West is the down dip extension of the Thalanga West mineralisation, and is classified as volcanogenic-massive-sulphide (VHMS) style of mineralisation where copper, zinc, lead and silver mineralisation is found associated with a suite of sulphide minerals.

(click here for more information on this project)


The Orient deposit is located 1.3km east of Vomacka pit under cover (Campaspe Formation) and the resource consists of a high grade massive sulphide lens plus a footwall stringer zone.

Orient was drilled out on 20m sections in the upper zone and 40m sections at depth by RGC Thalanga Pty Ltd from 1995-1997 and the current resource based on intersections from 37 diamond drill holes.

Orient hosts a JORC Code (2012) compliant Mineral Resource of 539kt grading 0.9% Cu, 1.8% Pb, 8.0% Zn, 0.2g/t Au and 45g/t Ag. The resource estimate was completed by Mining One Consultants in January 2015.

Thalanga Project Reserves and Resource Statement

Mineral Resources and Ore Reserves underpin the enterprise value of a company and provide a basis for life of mine and annual budgets.

(click here for more information on this project)


Last updated 13th December 2018


Mr Brett Fletcher

Non Executive Chairman

Mr Fletcher, a qualified Mining Engineer (University of NSW, 1989), brings over 25 years experience in the metals and mining industry to Red River. His experience within the Australian base metal mining and smelting sector is without equal, where he has held multiple senior management and executive roles including Manager UG Operations Broken Hill Zinc Lead Mine, General Manager Rosebery Copper Lead Zinc Mine, General Manager Century Zinc Mine and General Manager Hobart Zinc Smelter, and from 2007 to 2011 was the Chief Operating Officer of Zinifex/OZ Minerals and then MMG. His most recent role (from 2011 to 2014) was Executive General Manager PNG Operations at Newcrest where he was responsible for the Morobe Mining JV, Gosowong and Lihir.

Mr Mel Palancian
Managing Director

Mr Palancian has over 20 years experience in the mining industry and his most recent role was Deputy Operations Director at Newcrest’s Gosowong operation in Indonesia. Prior to this, he held a range of senior positions including General Manager Technical Services for MMG, Manager Dugald River Development for OZ Minerals and Principal Adviser Mining for Zinifex.

He holds a Bachelor of Engineering (Civil & Computing) from Monash and a Masters in Engineering from RMIT.

Mr Donald Garner
Executive Director

Mr Garner is a geologist with over twenty years experience in the resource industry, corporate finance and corporate development roles. Mr Garner has a strong track record in the identification and acquisition of resource projects, recently being responsible for New Age Exploration’s (ASX: NAE) Lochinvar coking coal project and Sirius Minerals Plc (LSE:SXX) York Potash project. He previously worked in a corporate development role at Zinifex, and prior to that worked in metals and mining corporate finance in the United Kingdom. Mr Garner worked as a geologist in Western Australia in a number of roles, both as an exploration geologist and a mine geologist and also worked as an exploration geologist in Myanmar.

Mr Mark Hanlon
Non-Executive Director
BABus(Fin) MABus(Fin)

Mr Hanlon has over ten years of experience in the resources and resource services sector as well as over ten years’ experience in commercial and merchant banking. He has a broad background of senior executive experience across a wide range of industries including mining, mining services, electricity distribution, electronics contract manufacturing, paper & packaging and insurance. He has most recently been the Finance Director of ENK plc and previously held the position or equivalent position of CFO with listed companies such as Century Drilling and International Contract Manufacturing Limited. Mr Hanlon is currently a director of Copper Strike Limited, Jacana Resources Limited and Rusina Mining Limited and is Company Secretary of VU Group Limited.


Mr Rod Lovelady
Qualifications: CPA, BBus

Mr Lovelady has over 25 years of operational experience working in management, finance and commercial roles within ASX listed and unlisted mining and energy companies, having previously worked with Mount Isa Mines Limited, Pasminco Limited, Zinifex Limited, OZ Minerals Limited, MMG Limited, Newcrest Mining Limited, Sydvaranger Gruve AS (Norway), Moreton Resources Limited and most recently AGL Energy Limited.

Mr Cameron Bodley
Qualifications: CA, B.Com, MAICD

Mr Bodley has a Bachelor of Commerce, is a Licensed Member of ICAA and a registered Tax Agent. Over the past 15 years he has worked both in Australia and England in both professional practice and industry, including National Australia Bank Limited, BNP Paribas Bank, Aviva Plc and Moore Stephens, giving him specialised experience in Mining and Investment companies. Mr Bodley has been providing accounting, taxation and secretarial services to other ASX listed and unlisted public and private entities for the past 8 years. He is also a member of the Australian Institute of Company Directors

Mr Karl Spaleck
Qualifications: B.Eng (Met)

Mr Spaleck has over 20 years experience in the mining and metallurgical industry and his most recent role was at Newcrest’s Lihir Gold Operations in Papua New Guinea where he was General Manager for the past 2 and a half years. Prior to this, he spent six years at MMG’s Century zinc mine in Queensland, the global #3 zinc mine, where he held a range of senior positions including Concentrate Manager Operations, Deputy General Manager and culminating in 2 years as site General Manager.

Last updated 13th December 2018


Level 6, 350 Collins Street
Melbourne VIC 3000

Telephone: +61 3 9017 5380

Investor/Media Queries:

Nathan Ryan
[email protected]
+61 420 582 887

Thalanga Minesite

PO Box 1248
Charters Towers QLD 4820


Donald Garner
Executive Director

Mel Palancian
Managing Director

Rod Lovelady
Chief Financial Officer

Cameron Bodley
Company Secretary

Company Secretary

Cameron Bodley
Telephone: +61 3 9095 7775
Fax: +61 3 9670 5942

Registered Office

Level 6, 350 Collins Street
Melbourne VIC 3000

Telephone: +61 3 9095 7775
Facsimile: +61 3 9670 5942

Company Auditors

RSM Australia Partners
Level 21, 55 Collins Street
Melbourne VIC 3000

Solicitors to the Company

Piper Alderman
Level 16, 70 Franklin Street
Adelaide SA 5000

Share Registry

Computershare Investor Services Pty Limited
Level 2, 45 St Georges Terrace
Perth WA 6000

Telephone: 9323 2000
Facsimile: 9323 2033

Last updated 13th December 2018

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