Red River completes Hillgrove transaction
The deal with Bracken Resources saw it pay $4 million in shares for the project, which was placed on care and maintenance in 2016 due to low prevailing antimony prices.
Red River said the site included significant infrastructure with a historical cost of $180 million and a significant high-grade mineral resource.
This includes existing processing plant, surface infrastructure, underground development, resource definition drilling and underground mining fleet.
Red River managing director Mel Palancian said the company was seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development.
Its foundation asset is the Thalanga base metal operation in North Queensland, where Red River commenced copper, lead and zinc concentrate production in September 2017.
New Century Resources is hitting new highs in zinc production, lifting average daily metal production rates by more than 30 per cent from May through...