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Red Rock Resources spring cleans its balance sheet

Red Rock Resources (LON:RRR) has been tidying up its balance sheet by paying off debt and selling its Colombian gold assets. Andrew Bell, the executive chairman tells Proactiveinvestors how the $5 million raised from the sale, in stage payments and royalties, of the El Limon mine to Colombia Mining, will bolster the company’s balance sheet over the coming months. The deal is set to be completed by the end of this month. 

The company has also just paid  off some debt to UKBN which Bell believes has put the company in a good position to take advantage of future opportunities.

Quick facts: Red Rock Resources PLC

Price: 0.34 GBX

AIM:RRR
Market: AIM
Market Cap: £2.37 m
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Red Rock Resources PLC boss hoping to be cash flow positive by year's end

Andrew Bell, chairman of Red Rock Resources PLC (LON:RRR), is hopeful that the mineral exploration and production company will be ”showing appreciable positive cash flows” by the end of 2016. Bell tells Proactive that if everything goes to plan at Shoats Creek, Red Rock will also “be...

on 1/4/16

2 min read