InvestSMART

R3D Resources Limited (ASX:R3D)

ALERT: Price-sensitive ASX Announcement for R3D
Current share price for R3D : $0.037 0.007 (23.33%)+
Announcement
Release
3 Apr 2024 12:10PM
Price at Release
$0.030
Full Release
download
Summary
R3D Resources Limited has announced the readiness of its first shipment of Copper Sulphate Pentahydrate from its Tartana Plant, achieving the minimum required shipment level of 28 bulka bags totaling approximately 34 tonnes. The shipment will be purchased by Kanins International, providing a significant cash flow boost. The company expects production to resume soon and has noted improved profit margins due to rising copper prices, which are currently around US$9,000 per tonne. Additionally, a rights issue is underway to secure further funding.
Key Points
  • First shipment of Copper Sulphate Pentahydrate is ready for collection.
  • Production completed at Tartana Plant meets minimum shipment requirements.
  • Kanins International will purchase the shipment at mine gate.
  • Production expected to continue pending supply of reagents and additional pumps.
  • Profit margins are increasing due to improved copper prices.
  • Rights issue underway with $500k underwritten by Breakaway Investment.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.