Red Hill Iron Limited (AU:RHI) has released an update.
Red Hill Iron Limited has made significant progress on its West Pilbara Gold and Base Metal Project, completing an extensive Ultrafine soil sampling program and preparing for a 4,000-meter drilling campaign in May. The company’s Onslow Iron Project is operating at full capacity, with a major ore shipment slated for June, which will secure a $200M payment and royalties for Red Hill. As of March 31, 2024, the company reported a robust cash balance of $23.89 million, demonstrating its strong financial position.
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