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109.15
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R3D Resources (ASX: $R3D) extends rights issue offer & updates production

R3D Resources (ASX: $R3D) Rights Issue Offer Extension & Production Update


R3D Resources Limited (ASX: $R3D) has extended the open period for its Rights Issue offer until Monday, 29 January 2024. The company also provided an update on production, confirming the recommencement of production on Friday, 5 January 2024, following a halt due to Cyclone Jasper and the holiday break. However, poor weather conditions continue to hamper production, affecting access to the site and the supply chain of required input materials.

Executive Commentary on Production Update and Rights Issue Extension


Activities on site in the past week have provided confidence in reaching a 'free-flowing' production state. However, poor weather conditions in Far North Queensland continue to affect our ability to operate on-site at Chillagoe and source required input materials, including diesel and acid. We are working closely with our 100% offtake partner, Kanins, to target our first shipment being sent within the coming days, which will represent the first revenues from the Plant.

Summary of R3D Resources (ASX: $R3D) Announcement


R3D Resources Limited (ASX: $R3D) has extended the open period for its Rights Issue offer due to the status of production at Tartana. The company confirmed the recommencement of production but highlighted that poor weather conditions in Far North Queensland continue to affect operations. The company aims to target its first shipment within the coming days, representing the first revenues from the Plant. R3D Resources is a significant copper, gold, silver, and zinc explorer and developer in the Chillagoe Region of Far North Queensland, owning several projects of varying maturity. The company cautions that forward-looking statements in the announcement are inherently subject to uncertainties and may be affected by various risks, variables, and factors.

Sourcehttps://announcements.asx.com.au/asxpdf/20240115/pdf/05zfhd9twwb98b.pdf

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