Red River Resources Limited (ASX: RVR) advises that the Board has decided to place its Hillgrove Operation on care and maintenance while it undertakes a detailed study on the options available to it. Processing activities will cease in an orderly manner to allow an effective care and maintenance program to be carried out during this period. Staff required to ensure site security, plant integrity and that all environmental licence and statutory requirements are met will be retained on site. Other roles will be made redundant. Staff in these positions will receive all contractual and statutory entitlements. Previously released exploration results from the Hillgrove exploration program will be used to plan for further activities in due course.
Red River will update the market when the options study is completed.
On behalf of the Board,
Patrick O’Connor
Executive Director Red River Resources Limited
RVR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
