Red Hill Minerals Reports Robust Quarter with Promising Drilling Results

Red Hill Iron Limited ( (AU:RHI) ) has provided an update.

Red Hill Minerals Limited reported a strong December quarter with $2.7 million in royalty revenue, a special dividend distribution, and a cash balance of $64 million. The company completed extensive drilling programs in the West Pilbara region, revealing promising gold and base metal results. Additionally, the Onslow Iron Project, where Red Hill holds a royalty interest, is progressing towards reaching its full production capacity by mid-2025, which could enhance revenue streams.

More about Red Hill Iron Limited

Red Hill Minerals Limited operates in the mining industry, focusing on the exploration and development of gold and base metals, as well as earning royalties from iron ore projects. The company holds a 0.75% royalty on the Onslow Iron Project and maintains a significant presence in the West Pilbara region through its gold and base metal rights over the Red Hill Iron Ore Joint Venture tenements.

YTD Price Performance: -1.46%

Average Trading Volume: 35,769

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$259.7M

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