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Red Rock Resources raises £1mln through placing

The money will be used for exploration said the mining junior

Red Rock Resources PLC -

Red Rock Resources PLC (LON:RRR) has raised £1mln through a placing at 0.8p per share.

The junior explorer said the new shares come with a warrant attached on a 1 for 1 basis exchangeable at 1.2p.

Andrew Bell, chairman, said: "Red Rock is entering a period of intense activity with active exploration due at its recently restored 1.2 million ounce JORC compliant gold resource in Kenya, and the IPO process for its new and highly prospective gold JV business in the Victoria Goldfields of Australia.”

Quick facts: Red Rock Resources PLC

Price: 1.1 GBX

AIM:RRR
Market: AIM
Market Cap: £10.7 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