Update

RNS Number : 9252M

Red Rock Resources plc

30 August 2013

 



Red Rock Resources plc

("Red Rock" or the "Company")

Update

30 August 2013

Red Rock Resources Plc, the mining and exploration company with an iron ore project in Greenland, a producing gold mine in Colombia, and advanced gold and copper exploration in Kenya, announces an update on operations and developments.

Greenland

Further to the Company's announcement on 5 August 2013, in relation to an offer by a third party for a controlling interest in Nama Greenland Limited a company 60% owned by Red Rock (the "Offer"), the Company has been advised that the transaction has been proceeding on track, and the Company will make a further announcement next week.

Resource Star Limited     

Further to the Company's announcement on 5 August 2013, Resource Star Limited (ASX:RSL), where Red Rock holds 38.6% of the issued shares, had announced a transaction whereby it would buy in to a rework programme on Texan oil wells, and the due diligence is being conducted by Red Rock. The due diligence team has mobilised to Texas and started work. The transaction is subject to approval by Resource Star shareholders.

Colombia

Further to the Letter of Intent issued by Ashmont Resources Corporation on 17 July 2012, in relation to a proposed disposal of the Company's interest in Four Points Mining Ltd, whose principal asset is the El Limon gold mine in Antioquia, Colombia, Ashmont is preparing to visit the mine next week and, subject to agreement with Red Rock, to issue a definitive term sheet for the purchase.

Enquiries:

Andrew Bell	020 7747 9990 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7747 9990 or 07757 660798	Red Rock Resources plc	Press Relations
Colin Aaronson/David Hignell/Ed Thomas	020 7383 5100	Grant Thornton UK LLP	Nominated Adviser
Nick Emerson	01483 413500	SI Capital Ltd	Broker

 

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