Red Hill Minerals reports strong royalty income, project milestones in Q3

Red Hill Minerals Limited reported a productive September 2025 quarter, highlighted by $7.0m in royalty revenue from the Onslow Iron Project, aligning with an anticipated FY26 income of approximately $28.7m. The Onslow Iron Project achieved its nameplate capacity of 35 Mtpa between August and October 2025, contributing to a strong cash balance of $62.71m. The company also declared and paid a fully franked dividend of 6.5 cents per share, totaling $4.17m.

Exploration activities under the Curnamona Earn-In Joint Venture saw the commencement of a 4,300-meter diamond drilling program, with 1,603 meters completed at the Woolly target. The company secured NSW Government exploration grants totaling $320,000 for its Broken Hill Project, supporting diamond drilling and geophysical surveys. Additionally, an IP survey at the Anabama copper-gold target revealed extensive chargeability and resistivity anomalism, with drilling scheduled to begin in November.

In the West Pilbara Gold and Base Metals project, logging and processing of diamond drill core from the Barkley gold project were completed. Heritage surveys across six target areas were finalized, paving the way for future drilling and exploration. The Pannawonica Iron Ore Project advanced its access negotiations for a proposed haul road corridor, with all third-party access agreements now finalized.