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Red Rock Resources books loss, focused on gold

By BFN News | 10:23 AM | Wednesday 25 March, 2015


Red Rock Resources, the mineral exploration and development company focused on iron ore and manganese, and gold, and operating in Greenland, Colombia, and East Africa, has reported a FY total loss of £1.18m, from a prior-year loss of £1.02m. However, losses from continuing operations were reduced to £392,577, compared to a loss of £1.34m for the second half of 2013. Executive chairman of Red Rock, Andrew Bell, said that the refocusing of the company's efforts on gold, and on the early stage exploration it regards as its strength, continues. He commented: "If the 25% increase in the trade-weighted dollar since May 2014 is adjusted for, the gold price has been strengthening, and few adverse factors, and many potentially favourable ones, exist for gold demand. "If exceptional opportunities occur, the company will be open to them, but our expectation is that gold will remain the primary focus, and Ivory Coast will be the main arena. There is enough to do there, given the size of the portfolio, to keep a company many times Red Rock's size usefully employed." At 10:23am: (LON:RRR) Red Rock Resources PLC share price was 0p at 0.09p Story provided by StockMarketWire.com

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