viewRed Rock Resources PLC

Red Rock Resources says two disposals are imminent


Red Rock Resources (LON:RRR) said the proposed sale of a controlling interest in Nama Greenland, a company 60% owned by Red Rock, remains on track.

The company said it will make an announcement in the first week of September about the offer from a third party to buy the stake.

Meanwhile, there have been further developments with Resource Star (ASX:RSL), in which Red Rock has a 38.6% stake.
Red Rock announced that it had worked with the Resource Star (RSL) board to identify a transaction that would take RSL into oil development through the acquisition of a project in Abilene, Texas.

Red Rock’s due diligence team has now mobilised to Texas and started work.

Completing the update on corporate manoeuvring, Red Rock said Ashmont Resources still intends to purchase Red Rock’s interest in gold mining company, Four Points Mining. Four Point’s main asset is the El Limon gold mine in Antioquia, Colombia; Ashmont is preparing to visit the mine in the first week of September and, subject to agreement with Red Rock, to issue a definitive term sheet for the purchase.

Quick facts: Red Rock Resources PLC

Price: 0.34 GBX

Market: AIM
Market Cap: £2.37 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Red Rock Resources PLC named herein, including the promotion by the Company of Red Rock Resources PLC in any Content on the Site, the Company...



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