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Red Rock Placing Raises GBP1 Million To Fund Drill Programmes

Fri, 12th Feb 2021 09:36

(Alliance News) - Red Rock Resources PLC on Friday said it has raised GBP1 million through the placing of 95.2 million shares at 1.05 pence each.

Shares in the Kenya, Australia and Democratic Republic of Congo-focused gold explorer were trading 8.8% lower at 1.14p each on Friday morning in London, giving it a market capitalisation of GBP11.1 million.

"A combination of license grants in Australia, re-grants in Kenya, and exploration progress in Congo, mean that Red Rock is now planning three promising drill programmes. This financing will enable us to move forward more rapidly with these drill programmes, the cost of which over 2021 is already estimated to exceed USD800,000," said Red Rock Chair Andrew Bell.

Following admission of the new shares, Red Rock will have 1.07 billion shares in issue.

By Ife Taiwo; ifetaiwo@alliancenews.com

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19 Dec 2011 08:32

Red Rock plummets on weak mine data

Red Rock Resources, the mining and exploration company, has released updated estimates for the amount, and type, of gold available at its El Limon mine in Colombia. The firm admits, however, these estimates "have been completed without independent verification and without the use of modern ...meth

6 Dec 2011 08:23

London open: Flat start after S&P warning

UK stocks opened flat on Tuesday morning as yesterday's optimism surrounding the key Merkel-Sarkozy meeting and an upcoming EU summit was outweighed by some worrying comments from Standard & Poor's (S&P). S&P WARNS OF MASS EUROZONE DOWNGRADE Reports of a impending credit rating agency action on th

6 Dec 2011 08:03

Red Rock Resources reports rise in gold sales

Red Rock Resources, the gold mining company, says November sales from its Colombia project were ahead of the previous month. By 30 November preliminary sales figures from the El Limon mine were 520.8 ounces compared to the October figure of 509 ounces. November was still behind September, however,

29 Nov 2011 15:30

Red Rock Resources up 30% on big profits

Shares in miner Red Rock Resources were up almost a third at one point today after it announced full year profits had almost tripled. The company said pre-tax profits for the year ended 30 June were just under £14m, up from £4.75m the previous year. Earnings per share rose from 0.65p per share to

4 Aug 2011 15:38

Red Rock feeds a hungry gold market

On Wednesday miner Red Rock Resources said it had significantly increased gold sales from its mines in Columbia. The firm said in the month ending 31st July its preliminary figures showed gold sales of 361 ounces, compared to 273 ounces in the previous month. The news led to a slight recovery in R

8 Jul 2011 16:21

England expects with £85,000 ITE purchase

Non-executive director Neil England has taken advantage of a weak spell in the share price of ITE Group, splashing out £85,000 on shares in the FTSE 250-listed exhibitions organiser. He took 40,000 shares at 213.5p a share and now had 50,000. ITE organises exhibitions in areas such as the oil and

29 Jun 2011 16:01

Anglo American finance boss sells again

Anglo American's finance director Rene Medori has pocketed £450,000 from the sale of shares in the mining giant. He offloaded 15,000 at 3,000p a pop, in his second big sale of shares this month. On 7 June he sold the same amount at just over 3,000p a share. Today's sale leaves him with a beneficia

1 Nov 2010 11:42

Battle for 'rare earth' begins

Most of us won't have looked at a periodic table since school, but now's the time to brush up on your chemistry as mining companies go chasing ever more exotic and elusive elements. Rare earth metals are the latest craze in the mining world. China has the biggest deposits and is getting protective.

1 Oct 2010 16:31

Daly buys at BAT

British American Tobacco's chief operating officer John Daly has invested nearly £511,000 in shares in the tobacco company. He has bought 21,200 shares at 2408.57p each and that takes his beneficial stake to 52,417 shares. Daly joined BAT as a result of its merger with Rothmans in 1999. He was a

26 Sep 2010 12:34

Sunday tips round-up: Ryanair, Red Rock, HSBC Infra...

The Telegraph says Michael O'Leary, Ryanair's chief executive, certainly knows how to milk publicity - but he also knows how to run a low-cost airline too. At last week's AGM, Ryanair confirmed that everything was on track in the current year. Mr O'Leary said he was comfortable with guidance of a n

29 Jul 2010 14:35

Red Rock Resources Sees Initial Results From VTEM Program End-August

LONDON (Dow Jones)--Red Rock Resources PLC (RRR.LN), a gold mining and exploration company with projects in Kenya and Colombia, said Thursday it expects initial results from the helicopter geophysical VTEM program by end-August. MAIN FACTS: -A fixed wing magnetic/radiometric survey has been

5 Jul 2010 10:57

Red Rock Resources Procures $2M Bank Loan For Mineras Four

LONDON (Dow Jones)--Red Rock Resources PLC (RRR.LN), a mining exploration and mineral investment company with interests in steel feed, uranium and gold, said Monday pursuant to the June 10 funding and co-operation agreement with Mineras Four Points SA, Red Rock has procured a bank loan for Mineras F

25 Jun 2010 16:42

Red Rock boss sells

Red Rock Resources chairman Andrew Bell has sold more than half of his holding in the AIM-quoted minerals explorer. Bell raised £21,300 from the disposal of 1m shares at 2.13p each. He still owns 800,000 shares. Bell is a former mining analyst with Morgan Grenfell. The shares were sold on the d

24 Jun 2010 14:12

Red Rock finds 'easy' gold at Macalder gossan

Red Rock Resources says results from 35 hand-grab samples taken at the Macalder gossan body in Migori, Kenya, indicate "significant" grades of easily recoverable gold. Using the underground workings of local artisanal workers, the miner found 12 samples with 1-5 grammes per tonne of gold, 14 sample

24 Jun 2010 14:03

Red Rock Resources Macalder Gossan Results Show Recoverable Gold

LONDON (Dow Jones)--Red Rock Resources (RRR.LN), a mineral exploration company, said Thursday new results for samples obtained from prospecting of the Macalder gossan in April 2010 indicate that there are significant grades of easily recoverable gold in this body. MAIN FACTS: -Shares at 1300

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