REG - Red Rock Resources - Update on Australian Assets

Red Rock ResourcesAnnouncement

16/08/2024 12:30

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RNS Number : 8013A  Red Rock Resources plc  16 August 2024

Red Rock Resources PLC

("Red Rock" or the "Company")

Update on Australian Assets

16 August 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 the announcements
of 13(th) March 2024, 12(th) June 2024 and 19(th) June 2024, that the date for
fulfilment of the £250,000 payment obligation under section 5(c) of the
Agreement to take 100% ownership of its Australian Gold interests, and related
amounts, has been re-set to 13(th) September 2024 by agreement between the
parties to that Agreement.

 

Red Rock CEO Andrew Bell comments: "As noted in our announcement of April
5(th) we have been working for the release of the arbitration award in
relation to our Congolese interests. Handover of this matter to the new
post-election Administration has taken place and we have been in Kinshasa over
recent weeks and expect to return for the final meeting.

 

Given the tempo of activity during the holiday season across the Company's
activities, notably in DRC but also in Burkina Faso where we are moving
towards gold production and travel plans have been affected by illness of two
key personnel, we are grateful for the agreement of the vendors in Australia
in adjusting the timing of one element of the consideration.

 

In Victoria exploration in the easternmost of our licences at Kilmore is under
way, across the boundary from Southern Cross Gold's exploration at Sunday
Creek, and we will report on this once we have sufficient results.

 

NDAs have now been signed with various potential listed partners. With the
help of our advisors, we are discussing possibilities for a listing of the
assets.

 

We intend to report an operational and financial update covering developments
in the Company's business in the coming days."

 

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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