REG - Red Rock Resources - Joint Venture Provisional Award

Red Rock ResourcesAnnouncement

Mon 16:00

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RNS Number : 5254G  Red Rock Resources plc  01 June 2026

Red Rock Resources PLC

("Red Rock" or the "Company")

Joint Venture Provisional Award

 

1 June 2026

 

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 the issue of the Avis de Non
Objection (ANO) by the Direction Générale de Contrôle des Marchés Publics
(DGCMP) of the Ministry of Budget of the Democratic Republic of Congo, to our
joint venture partner in relation to the award of a contract for the provision
and operation of factories for low cost housing.

 

This follows a process whereby the Company formed the 50-50 joint venture
("JV") in November 2024, made a proposal to and signed an agreement with the
Ministry of Rural and Periurban Development in October 2025, and subsequently
in 2026 the JV won an open tender which was then reviewed by the DGCMP and
other regulatory bodies.

 

Previous announcements have been made by the Company as matters progressed,
notably on 6 November 2024, 23 October 2025, 11 February 2026, and 1 April
2026.

 

The ANO reads in part:

 

"I have the honour to receive your letter………………..of 12(th) May
2026 by which you sent me, for Notice of No Objection,  the evaluation report
of the offers and the minutes of Provisional Award relating to the works of
construction and  installation of the  factor ies  for manufacture of wall
panels for the rapid construction at least cost of houses, and thank you.

 

After checking your dossier, the DGCMP issues this Notice of No Objection on
the said evaluation report and minutes making its Provisional Award to KOTO
DRC sarl, at a cost of $21,476,663.10" [Translation from the original French]

 

Red Rock Chairman Andrew Bell comments: "The importance that the Government
and the Ministry attach to this project is shown by the Ministry's decision to
fast track it by funding the initial factories. Koto is now able to draw this
money, and order the factories, the first of which is expected to arrive in
late Summer or early Autumn. The JV expects to scale up operations rapidly,
and make first sales of houses by year end.

 

Meanwhile the resolution of the Company's claims in relation to the Musonoi
licence and the grant of the first major copper-cobalt licence since the loss
of Musonoi are near the announcement stage.

 

After a long period of working on these three issues, their conclusion, or the
conclusion of even this one of them, is a matter of the first importance for
the Company. "

 

Other:  The Company has been granted a 3 year renewal of its important Boulon
gold licence in Burkina Faso, at a cost of XOF 7,000,000 and has progressed
further in its renewal of its Kenya gold licences.

 

Notes:

(1)  The Company has made this announcement because the full Avis
d'Attribution Provisoire ("Provisional Award") may now at any time be posted
on the website of the Autorité de Régulation des Marchés Publics where it
will be publicly accessible, and it is desirable that the key element in that
Décision, which is contained in the Avis already in our hands but without
some fuller context, should be made available to all shareholders
simultaneously;

 

(2)  Koto DRC sarl is the Company's partner under the 50-50 JV signed in
November 2024 which was formed as an unincorporated joint venture with the
object of implementing a low cost housing project and operating mines granted
in relation to the financing of that project, and an agreement to convert the
unincorporated joint venture into joint venture limited companies upon
concretisation of the project, a process that is now under way;

 

(3)  The JV will assist the Ministry in the construction of the factories,
each of which will have the capacity to produce between 3,300 and 5,000 houses
a year, and will operate them on behalf of the Ministry and jointly sell the
housing units;

 

(4)  The Avis d'Attribution Définitive or Final Award notice follows
submission of a timetable and is a compliance stage whereas the Avis
d'Attribution Provisoire or Provisional Award is generally the substantive
stage;

 

(5)  The Company notes (a) that the operations of the JV Company are expected
to be profitable but that it is unable to quantify profitability at this stage
and (b) the establishment and initial operation of the three factories has
been funded by the amounts allocated under the Provisional Award;

 

(6)  As further information is released, it will be communicated to
shareholders.

 

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

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU, which is part of domestic UK law pursuant to the
Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed
in accordance with the Company's obligations under Article 17.

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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