REG - Red Rock Resources - Sale of Royalty

Red Rock ResourcesAnnouncement

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RNS Number : 0455Z  Red Rock Resources plc  12 September 2025

Red Rock Resources PLC

("Red Rock" or the "Company")

Sale of Royalty

 

12 September 2025

 

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 sale of the Company's
gold royalty in Colombia.

·   Gold royalty over product of El Limon mine and mill sold back to mine
owner Soma Gold Corp. ("Soma").

·    Consideration of £1,000,000.

·    Additional consideration of 200,000 share subscription rights
exerciseable for 36 months into Soma shares at C$2 per share.

The additional consideration is upon the same terms as the subscription rights
attached to placement shares issued to subscribers to the most recent private
placement of Soma on 29(th) August 2025, including the accelerated exercise
provision.

The royalty, which has been held since 2015, and which has not yielded
payments to the Company for several years, but is expected to recommence
payments later this year, consists of a 3% net smelter return (NSR) royalty up
to a maximum of $2,000,000 and a 0.5% NSR royalty in respect of a maximum of a
further $1,000,000.

An announcement by Soma of this transaction has been issued to newswire
services in Canada on 11(th) September 2025.

Red Rock Chairman Andrew Bell comments: "The sale of the royalty back to the
mine owner gives Red Rock cash to extinguish liabilities and support working
capital, consistent with the priorities set out in our announcement of 21(st)
July 2025.

We believe that the price of c USD1,350,000 plus warrants is a fair one,
giving the mine owner a discount to the £1,500,000 at which the asset is
carried in our books but accelerating the payment to us and removing our
exposure to performance risk of the gold assets concerned.

A further announcement will be made upon receipt of consideration.

The Company continues to advance towards final documentation and announcement
significant transactions in the Ivory Coast and DRC."

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.

 

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

 

 

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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