Ann: Quarterly Activities and Cash Flow Report 30 June 2020, page-2

ASX Announcement ASX Code: RVR
28 July 2020
Quarterly Activities and Cash Flow Report
for the period ending 30 June 2020
________________________________________________________________________________
Quarter Highlights
• Thalanga Operations record quarterly copper concentrate production of 2,697 DMT
• A parcel of historic gold tailings from the Liontown Project was treated through the Thalanga Mill to
produce 475 DMT of gold concentrate grading 62.3 g/t Au, 197 g/t Ag and 12.8% Cu
• Thalanga Operations passed the milestone of milling 1.0Mt of ore since Red River restarted operations at
the site in September 2017
Thalanga Operations
• Record quarterly copper concentrate production of 2,697 DMT
• Zinc concentrate production of 4,544 DMT
• Lead concentrate production of 1,133 DMT
• Gold concentrate production of 475 DMT
• Total Far West UG capital development of 1038.9m
Development Activities
• $3.3 million invested in capital development, primarily at Far West
• $0.2 million invested in exploration activities at Thalanga Operations
• Delivery of gravity gold concentrate circuit for Hillgrove Gold Mine Restart completed
Corporate
• $15.6 million revenue generated from concentrate sales
• C1 cost of US$ 0.30 per pound of payable zinc metal
• C2 cost of US$ 0.64 per pound of payable zinc metal
• C3 cost of US$ 0.86 per pound of payable zinc metal
• Thalanga Operations EBITDA of $3.5 million
• Cash balance of $8.1 million plus financial assets of $12.9 million (cash backed security bonds and deposits)
as at 30 June 2020
• Red River repaid US$1 million during the quarter on the working capital facility, with the balance at quarter
end reducing to US$5 million.