Australia's Red River Resources drops on halting Hillgrove ops for maintenance

Red River Resources

07/09/2022 05:53

** Shares of gold and base metal exploration co Red River
Resources  RVR.AX  fall as much as 13% to A$0.1, eyeing their
worst session since July 15
    ** RVR says it has decided to place its Hillgrove Operation
on care and maintenance  urn:newsml:reuters.com:*:nASX8wtgkw
    ** In the meantime, co will undertake a detailed study on
the options available to it
    ** Processing activities will stop in an orderly manner to
allow effective care and maintenance program, says co
    ** Shares hit their lowest levels since July 27
    ** More than 1.4 mln shares change hands, compared with the
30-day average volume of about 566,000 shares
    ** Stock down ~42.5% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))