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Red Rock Resources focuses on costs

By BFN News | 11:29 AM | Friday 21 November, 2014


Red Rock Resources has reported its final results for the year ended 30 June 2014, today, stating that, while the company was not active in exploration terms, it focussed on maximising value from existing assets, which it said reflects a stock market in which the valuation of mineral exploration companies continued to be depressed, and investors were unwilling to finance extensive exploration programmes. Highlights included: Ramp up in manganese production and profit from Jupiter's Tshipi mine · Four Points Mining controls costs in preparation for expected sale · Cost reduction programme undertaken across Group · Parent company borrowings cut to £1.1 million from £2.6m · Total assets £21.9m (2013: £28.0m) · Early into gold exploration in Ivory Coast · Steps taken to reinvigorate Resource Star At 11:29am: (LON:RRR) Red Rock Resources PLC share price was +0.05p at 0.22p Story provided by StockMarketWire.com

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