Red Moon Resources – Gypsum Update
Red Moon Resources – Gypsum Update St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V:RMK) announces that in 2019 the Company produced 155,914 tonnes of gypsum/anhydrite from its Ace mine in western Newfoundland in its first year of production. This amounts to net proceeds of $366,400.00 before tax but after payment of all mining and production costs. The Company is currently finalizing its contract mining arrangements for 2020 as well as bidding and negotiating sales contracts for the coming production season. It is premature to provide guidance for 2020 production until sales contracts and a production schedule are finalized. However, based on discussions to date, the Company expects production to exceed 2019 numbers barring any production or sales interruptions. The production season commences in mid-May though overburden removal is expected to commence before that date. Recent Special Measures Orders (“measures”) by the Province of Newfoundland […]