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(Alliance News) - Red Rock Resources PLC on Tuesday said it is awaiting quotes from its geological advisors regarding geophysical work to be carried out on the Luanshimba copper-cobalt license in the Democratic Republic of Congo.
Red Rock holds an 80% stake in the Luanshimba project.
The iron ore company also said it has made the final payment of USD100,000 to project vendors in relation to its 50% owned joint venture agreement for the development of cobalt and copper assets in the Congo. The payment comprised USD50,000 in cash paid in December, and the issue of 6 million shares at 0.6 pence each.
The stock closed untraded on Tuesday in London, last quoted at 0.23p each.
Following admission, Red Rock will have 682.1 million shares in issue.
"We continue to work on progressing our existing interests in the Democratic Republic of Congo, at the same time building our network and reviewing new opportunities. We look forward to announcing further developments over the coming weeks," said Chair Andrew Bell.
By Ife Taiwo; ifetaiwo@alliancenews.com
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