Red Moon Resources – Gypsum Production Continues in Newfoundland
Red Moon Resources – Gypsum Production Continues in Newfoundland St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V:RMK) announces that production has commenced at its Ace gypsum/anhydrite mine in western Newfoundland. The first shipment of the season was made on June 19th and a second shipment is scheduled for this week. Notwithstanding the Covid 19 disruptions which have impacted production and sales, the company is pleased with the progress made thus far in 2020. Overall, production is anticipated to be less than in 2019. Barring any future Covid 19 disruptions markets are expected to normalize in 2021. In anticipation of future demands for gypsum, the Company has been evaluating further mine development opportunities in the historic Flat Bay mines. This includes the possible reclamation of historic gypsum tailings left over from previous operations. It is estimated internally, based on drone surveys, that the tailings pile contains […]