RCS - Red Rock Resources - Update

Red Rock ResourcesAnnouncement

01/11/2024 10:00

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RNS Number : 6246K  Red Rock Resources plc  01 November 2024

Red Rock Resources PLC

("Red Rock" or the "Company")

Update

 

1 November 2024

 

Red Rock Resources Plc, the natural resource exploration and development
company with interests in gold, base metals, battery metals, and hydrocarbons
principally in Africa and Australia, announces, further to announcements
and RNS Reach announcements on 7(th), 14(th), 18(th) and 23(rd) October 2024,
a further update in relation to its activities in the Democratic Republic of
Congo ("DRC").

 

Since Monday 21(st) October a series of important meetings have taken place
with institutions of the Presidency, and we expect to visit various locations
on a return visit next week.

 

The meetings were focussed primarily on new business opportunities, but the
unresolved matters surrounding the Court Judgment in our favour for $2.5m and
our pending Arbitration award were necessarily raised.

 

A framework agreement has been signed with our local associate, Koto DRC SARL,
under which we would participate with them on an equal basis on a new project
(the "JV"). This agreement is conditional upon, and its operational terms
depend upon, the JV being allocated a suitable asset or assets upon terms
agreeable to the partners.

 

Red Rock CEO Andrew Bell comments "We continue to prepare for the final award
of the arbitration. In parallel, and never ceasing to emphasise that it is
essential we demonstrate the ability to obtain justice and repatriate funds in
this existing matter, we have through the relationships established in the
country found ourselves in a position to move forward in a close co-operation
which is expected to lead to a new project opportunity.

 

These are continuing discussions, and given their sensitivity and potential
impact on the Company we will continue to update frequently, erring always
however on what we judge to be the side of caution."

 

For further information, please contact:

Andrew Bell 0207 747
9990
Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD
Beaumont Cornish Limited

Bob Roberts 0203
8696081
Broker Clear Capital Corporate Broking

 

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