About Company
R3D Resources (ASX:R3D) is a significant copper-zinc-gold explorer and developer in the prospective Chillagoe Region in North Queensland. The company's strategy is to become a self-funded and dividend-paying explorer.
In terms of future cash flows, the company plans to start copper sulphate production in December 2022. It is refurbishing its heap leach – solvent extraction – crystallisation plant at Tartana mining leases. It intends to commence the production ramp-up in 2023 and the company expects to generate strong cashflows. These will supplement existing cashflows from the export of Zeehan's low-grade zinc furnace slag/matte operation in Tasmania.
The company's significant exploration tenure in the prospective Chillagoe region covers a range of advanced and greenfield projects with more advanced projects, including the quantification of the underlying porphyry copper and related zinc skarn mineralisation at Tartana, upgrading copper/gold mineralisation at Cardross to resource status, upgrading existing JORC 2004 resources at the Mountain Maid gold project to be JORC 2012 compliant and continue down-dip copper exploration at the Ok Copper Mines at Bellevue.
The less advanced projects of the company range from exploration of copper/gold surface prospects in the Bellevue and Dimbulah projects to the large (1250km2) Bulimba/Beefwood' frontier' project, which exhibits large-scale geophysical and geochemical targets which have never been drill tested.