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  • Red Moon Resources (RMK) is currently negotiating gypsum orders for 2021
  • Operations at the open-pit Ace mine at the company's Flat Bay Gypsum Project in western Newfoundland have already commenced
  • The company has digitized the drill logs of 439 historic holes and will carry out a drill program in the near future to confirm the historic results from highest priority areas
  • The company has been evaluating further mine development opportunities at the historic Flat Bay gypsum deposits
  • Red Moon Resources is unchanged on the day, with shares of the company trading for C$0.64 at 1:14 pm ET

Red Moon Resources (RMK) is currently negotiating gypsum orders for 2021.

Operations at the open-pit Ace mine at the company's Flat Bay Gypsum Project in western Newfoundland have already commenced.

The site is immediately adjacent to the company's flagship Great Atlantic Salt Project.

The company says growth in the North American construction markets has also created a favorable backdrop for gypsum demand.

In preparation for a gypsum-anhydrite resource calculation covering the entire Flat Bay Project, the company has digitized the drill logs of 439 historic holes and will carry out a drill program in the near future to confirm the historic results from highest priority areas.

In anticipation of increasing demand for natural rock gypsum, the company has been evaluating further mine development opportunities at the historic Flat Bay gypsum deposits. This includes the reclamation of gypsum tailings left over from historic operations.

Red Moon has received encouraging test sample results from the tailings piles after completing a dry screening sampling process to determine gypsum content and recoverability factors.

Red Moon’s Ace mine produced a total of 119,700 tonnes of gypsum in 2020, of which 94,700 tonnes were shipped. Approximately 25,000 tonnes were produced late in the year and are ready for shipment. 

Red Moon Resources an emerging commodities company in Atlantic Canada, focused on Newfoundland and Labrador, with 100 per cent ownership of the Great Atlantic salt deposit in addition to a producing gypsum mine and an early-stage nepheline discovery.

Red Moon Resources is unchanged on the day, with shares of the company trading for C$0.64 at 1:14 pm ET.

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