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Red River Resources director buys more shares on market

During the March quarter, Red River generated sales of $16.5 million.
Thalanga mine
Canaccord is forecasting zinc production to increase

Red River Resources Limited (ASX:RVR) has had 167,830 of its shares purchased on-market by its director Mark Hanlon.

Hanlon spent $45,314 buying shares priced at 27 cents each, increasing his total holding in the company to 3.1 million shares.

During the March quarter, Red River generated sales of $16.5 million with $10.4 million from the sale of zinc metal in concentrate from its Queensland-based Thalanga project.

READ: Red River Resources in strong cash position with compelling fiscal 2019 zinc fundamentals

Canaccord is forecasting zinc production to increase from 11,200 tonnes in 2018 to 21,200 tonnes in 2019, and copper production is projected to increase more than three-fold.

Furthermore, this growth is expected to be sustained into fiscal 2020 with zinc production increasing to 26,800 tonnes.

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