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Pin to quick picksRockfire Share News (ROCK)

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AIM WINNERS & LOSERS: IOG up as first gas delivered at Blythe H2 well

Tue, 13th Jun 2023 09:58

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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IOG PLC, up 11% at 4.40 pence, 12-month range 3.26p-41.00p. The UK-focused gas producer delivers first gas from the Blythe H2 well. The well is brought onstream in three months and one week from the spud date, versus initial guidance of around three months, despite 34 days lost to the well control event. Company is sending equipment to the rig at H2 to resolve an apparent downhole mechanical blockage. If successful, IOG says this could increase H2 flow rates by around month-end to the 30 to 40 million standard cubic feet per day range that the company had previously guided.

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Rockfire Resources PLC, up 5.9% at 0.32 pence, 12-month range 0.13p-0.47p. The Australia and Greece-focused mineral exploration company says that a fourth drill hole has encountered strong zinc continuity as part of its geotechnical drilling programme at the Molaoi zinc deposit in Greece. Explains two lodes have been intersected in the fourth drill hole, reaffirming that multiple lodes are continuous at Molaoi. Chief Executive David Price says: "It's great to see confirmation of high grade zinc occurring in each hole being drilled by Rockfire. The continuity of zinc mineralisation is being confirmed, and the positioning of the zinc lodes in accordance with those encountered during drilling by the Greek government in the 1980s is being affirmed. Zinc grades remain robust. Importantly, the minimum mining width for mechanised mining of 2 metres is still being achieved. This is a critical aspect of mine design and planning for underground extraction."

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AIM - LOSERS

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Driver Group PLC, down 4.6% at 31.00 pence, 12-month range 23.10p-35.04p. The construction consultancy firm posts a pretax profit of GBP508,000 in the six months ended March 31, up sharply from GBP130,000 the year prior. Revenue, meanwhile, dips to GBP24.2 million from GBP24.4 million. Says it is focused on improving bottom-line in the current financial year after the challenges encountered in the past financial year. Notes "positive progress" in the first quarter of new financial year and says this momentum has "continued and strengthened" in the second quarter. However, says April was slower than expected due to the timing of the Easter weekend and a succession of public holidays.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Jan 2024 14:02

IN BRIEF: Rockfire confident about twinned holes at Maloi zinc deposit

Rockfire Resources PLC - London-based mineral exploration company - Says drilling at Maloi zinc deposit in Greece replicates historical drill holes. Finds 73.44 grams of silver per tonne at hole MO_GTK_009, as well as 30.63 grams of germanium per tonne. Chief Executive Officer David Price said: "This replication of historical holes was requested by SRK Consulting Geologists to provide increased confidence in the positioning and grades/widths of historical drill holes. The results indicate that the similarities between the original holes and the new holes are close. The width varies in hole MO_GTK_009, however this is likely due to differences in sample lengths and sampling intervals selected. This drilling provides confidence in the original data and validates many of the historical drill holes to be included into a future resource upgrade."

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19 Jan 2024 10:29

Rockfire touts positive drill results from Lighthouse tenement

(Alliance News) - Rockfire Resources PLC on Friday noted Sunshine Metals Ltd's "encouraging" drill results at the Lighthouse tenement in Queensland.

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12 Dec 2023 11:23

IN BRIEF: Rockfire shares rise as it secures USD2 million repayment

Rockfire Resources PLC - London-based mineral exploration company - UK Government's Office of Financial Sanctions Implementation confirms that an exemption licence is not required for Rockfire to secure the return of a USD2 million payment, which can now be transferred back to the firm. Rockfire paid this initial consideration for a 10% shareholding in Emirates Gold DMCC and Emperesse Bullion LLC, but applied for the exemption license earlier this month after withdrawing from the conditional share purchase agreement.

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4 Dec 2023 16:27

Rockfire requests exemption license from OFSI for return of USD2Million

(Alliance News) - Rockfire Resources PLC has applied to the UK government's Office of Financial Sanctions Implementation for an exemption license relating to the cancelled purchase of shares in Emirates Gold DMCC and Emperesse Bullion LLC.

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8 Nov 2023 18:19

IN BRIEF: Rockfire Resources taking legal advice amid Paloma sanctions

Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Notes the announcement by the UK Foreign, Commonwealth & Development Office imposing sanctions on Paloma Precious DMCC and 28 other individuals and entities. In September, Rockfire said it acquired 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement which constituted a reverse takeover. Subsequently, Paloma notified the company it had sold its entire interest of 400 million shares in Rockfire in an off-market transaction. In light of the sanctions announced today, says taking urgent legal advice in order to determine the impact on the transaction.

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13 Oct 2023 15:14

Rockfire launches drilling programme at Molaoi

(Sharecast News) - Base metal, gold and critical minerals explorer Rockfire Resources announced a precise drilling programme at its wholly-owned Molaoi zinc deposit in Greece on Friday.

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13 Oct 2023 12:58

Rockfire Resources begins drilling at Molaoi in Greece

(Alliance News) - Rockfire Resources PLC on Friday said it has begun drilling at its 100%-owned Molaoi zinc deposit in Greece.

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29 Sep 2023 12:21

EARNINGS: Rockfire interim loss widens due to increased expenses

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21 Sep 2023 21:14

IN BRIEF: Rockfire Resources raises GBP3.5 million via investors

Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Successfully raises GBP3.5 million through two new institutional investors subscribing for 700.0 million new shares at 0.5 pence per share. Net proceeds will be used to satisfy the initial USD2 million consideration for the acquisition of 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement. The final consideration will be USD18 million. On admission of the shares, the company's issued share capital will consist of 2.54 billion shares.

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15 Sep 2023 09:52

Rockfire Resources acquires two precious metals businesses

(Alliance News) - Rockfire Resources PLC on Friday said it has acquired 100% of Emirates Gold DMCC and 99% of Emperesse Bullion LLC from Paloma Precious DMCC via a share purchase agreement.

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