The pre-tax loss from continuing operations narrowed to £392,577 to end December compared to a loss of £1.336mln in the comparative period.
The key development in the period was Red Rock's expansion of its Ivory Coast interests by the acquisition of prospective licences.
Exploration kicked off at the Alepe license where results from initial geochemistry over around 350 sq km of ground at the Alepe and Dabakala licences have been received and are being processed. An initial announcement will be made imminently.
Elsewhere, the company is progressing the expected imminent sale of the 50.1% owned Colombian subsidiary.
The firm said it expects gold will remain its primary focus, and Ivory Coast will be the main arena, where there is enough work to be done to keep a company many times Red Rock's size usefully employed, it said.
Earlier, the group told investors it will issue new shares to MG Partners, an affiliate of financier Magma, due to the conversion of loan notes.
It will issue new shares to satisfy $200,000 of the outstanding $535,000 loan, the company said.
These new shares will represent about 4.7% of the company’s share capital.
"Following discussions with Magna about outstanding loan conversion we are pleased to see them converting a significant part of their debt position to equity,” said Andrew Bell, Red Rock’s chairman.
“They are taking on the risks and opportunities of equity and we are taking a further significant step towards our objective of eliminating liabilities from our balance sheet, following the placing last week."
Red Rock raised £1mln through a placing last week, with the proceeds earmarked for gold exploration in Ivory Coast.
Red Rock shares eased 5.56% to 0.085p.