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R3D Resources (ASX: $R3D) achieves commercial production at Tartana Copper Sulphate plant

R3D Resources achieves key milestone at Tartana Copper Sulphate plant


R3D Resources Limited (ASX: $R3D) has successfully achieved commercial production at its Tartana Copper Sulphate plant, marking a significant milestone for the company. The Chairman's address at the 2023 Annual General Meeting highlighted the achievement of commercial production at the plant, which is expected to generate cash flows to support the company's future operations and exploration activities. The company also announced its intention to change its name to Tartana Minerals Limited, subject to shareholder approval.

Chairman's Address Highlights Key Milestones and Future Plans


I am pleased to welcome you to our 2023 Annual General Meeting. This last year has been a formative period for R3D as we focussed on achieving commercial production at our Tartana Copper Sulphate plant, which has now been achieved. The cash flows the Plant will generate underpin the Company's future operations, including providing the necessary funding to support our exploration activities. It has been a long road to get to this point, but your directors believe we've reached the turning point and should see strong results from here on out. To that end, we expect to be cash flow positive on an operational basis for the December quarter. We have a portfolio of assets that include highly prospective Copper, Gold, Silver, and Zinc targets with published mineral resources of significance. Funded partly by cash flows from Copper Sulphate production, we expect to significantly increase our exploration activities over 2024 and return to being an exploration-focused Company.

Outlook and Future Plans for R3D Resources


R3D Resources has successfully achieved commercial production at its Tartana Copper Sulphate plant, positioning the company for cash flow positive operations in the coming months. The company's focus on exploration activities, particularly in highly prospective Copper, Gold, Silver, and Zinc targets, is expected to be supported by the cash flows generated from the Copper Sulphate production. Additionally, the company has outlined critical upcoming milestones, including first revenues from Copper Sulphate operation, resource extension drilling at Tartana, and realizing the value of Gold tailings at the Zeehan project. The company's long-term view is optimistic, with expectations of continued strength in Gold and Copper prices, positioning R3D Resources to benefit from these market trends. Furthermore, the company's intention to change its name to Tartana Minerals Limited reflects its commitment to aligning the company's identity with its current business activities and future strategic direction.

Sourcehttps://announcements.asx.com.au/asxpdf/20231127/pdf/05xtzvtjl313hw.pdf

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