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Today 11:47
RNS Number : 7324B
Rockfire Resources PLC
01 February 2024
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
1 February 2024
Rockfire Resources plc
("Rockfire" or the "Company")Corporate Update
Rockfire Resources plc (LON: ROCK), the base metal, precious metal, and critical mineral exploration company, is pleased to provide the following update to the market.
Further to the announcement on 12 December 2023, confirming that an Exemption Licence is not required for the return of a US$2 million consideration which was paid by Rockfire as part of its terminated acquisition of Emirates Gold DMCC and Emperesse Bullion LLC, Rockfire is pleased to announce that the US$2 million has now arrived in Rockfire's bank account.
These funds will be put towards multiple activities which the Company is currently undertaking. The first is the continuation of drilling at the Company's 100%-owned Molaoi base metal and critical mineral deposit in Greece. Funds will also contribute to on-going working capital requirements of the Company.
At Molaoi, all four drill holes which were drilled as "twin" holes to replicate historical holes have now been completed. Results from holes MO_GTK_008 and MO_GTK_09 were released to the market in an RNS dated 30 January 2024. Samples from holes MO_GTK_010 and MO_GTK_011 are at the laboratory and results are awaited. The market will be informed once these results are available.
Exploration drilling to in-fill a large, undrilled area in the centre of the resource is currently underway. This lack of drilling is a result of steep terrain. Rockfire has been granted permission from the landowner to establish access and to drill at the site. This hole remains in progress and as at the date of this RNS, is at a depth of 210m, with a planned total depth of 300m. The hole is expected to intersect the zinc mineralisation at approximately 275m deep, but visible sulphides are already being recorded in the logging. Resource expansion drilling at depth and towards the north will be on-going over the coming months.
The Company is considering avenues and business development strategies to achieve a cash-positive business for our investors. As planning is in its infancy, no further information is available now. However, the market will be kept fully informed should the Company's strategy advance.
On the leaderboard...up 10 percent and moving up
Incoming this afternoon....lovely RNS
MOVING UP
RECEIPT OF 2MILLION....GREAT RNS
Been looking good here. Good momentum but still got some yo break even but moving in the right direction now.
Once it commercially economic studies in place it was previously had infrastructure so it will be handling that well close to road acess it mentioned truck loading they can go for private placement or jv depends on what scale and size of mineral resources at minimum if done right could be 100m to 300m asset like premier African was
Out of curiosity, what price do you think we should be sitting at DJ? and your prediction also after the JORC update?
If the dubi gold wasn't sanction if only then yes 10p
10p!
2 years later still waiting for the 1p club
Raassurngly placees who bought at 0.5 not dumping withi money in bank and drilling ongoing with resource upgrade to follow shortly after cannot see why we cannot breach the placing price of 0.5
Hopefully we're moving back to last years high and beyond.
Will see if it's like last week's up and down
You have to subscribe. Was £79 now I think it may have doubled.
they were good 4 years ago for a year or so
Anyone got a link they could share to southbank report, cant seem to find it
Good start for the week. May it continue but possibly bigger news.
Will read that South bank recommendation again.
Waiting...but it may prove to be a good entry point for those who are not invested....
Southbank Research recently gave this a buy rating due to its suppressed market cap, and in demand scarce critical minerals inferred in the ground.
Are long term holders adding here, or waiting for further news catalysts?
Do your research back to .40 in no time £1m in the bank
ROCK not ROCH - doh!
Ramp EST on the EST board not here please. Investors in ROCK see the wider plays that ROCH are involved with. Not trying to have an argument, just raising a fair point.
How rock is £7m vs EST £2.8m?
worth researching this tiddler before herds pile in, copper in Kazakhstan
with grades 1.5% - 2.8%
click on my name
Erratum: travesty these are NOT baselined to 0.5p atm,
The drum beat has started. Fundamentals still look good and confidence reasserted that ROCK focuses on what it's good at rather than chasing unicorns.
Also key, the 0.5p mentioned below, travesty these are baselined to 0.5p atm, now that is MM manipulation the bar stewards!!!!!!!!!!!!!!!!!!
Think that delayed buy explains it.