Red Rock Resources Share News (RRR)

IN BRIEF: Red Rock Resources closes in on Power Metal deal

Red Rock Resources PLC - resources development company focused on gold, base metals, battery metals, and hydrocarbons projects in Africa and Australia - Says all conditions relating to purchase of remaining 49.9% stake of Red Rock Australasia Pty Ltd from Power Metal Resources PLC have been fulfilled. Expects deal to complete by June 16. Red Rock will deliver to Power Metal Resources GBP250,000 in convertible loan notes, with a conversion price equal to the price of any placement of new shares of Red Rock raising proceeds of over GBP200,000. Should conversion not be undertaken within six months from March 8, the CLNs of GBP250,000 are repayable immediately as cash and Red Rock will deliver 166.7 million shares to Power Metal, with accompanying warrants exercisable at 0.25p per share in Red Rock.

IN BRIEF: Red Rock's astonishing Australian find; Burkina Faso headway

Red Rock Resources PLC - resources development company focused on gold, base metals, battery metals, and hydrocarbons projects in Africa and Australia - Agrees short extension of the long stop date relating to taking 100% ownership of Red Rock Australasia Pty Ltd from Power Metal Resources PLC to Tuesday. This reflects Monday's public holiday in Australia. Explains an announcement relating to the transaction will therefore not be issued before Wednesday. Power Metal Resources acknowledges the statement. Further, Red Rock discloses "exceptional" gold drill results from Australia. In addition, says preparation of operating sites continues at Bilbale and Boulon in Burkina Faso. Due to increase in air freight charges, decides to to transport containers by sea. Target times for arrival are early July. Chief Executive Andrew Bell comments: "Progress towards continuous operations in Burkina Faso continues satisfactorily. The scale of the logistics operation is considerable, and involves overcoming regulatory challenges at the points of both export and import." Bell describes results in Australia as "astonishing."

IN BRIEF: Red Rock's consultant highlights potential of Bilbale field

Red Rock Resources PLC - resources development company focused on gold, base metals, battery metals, and hydrocarbons projects in Africa and Australia - Provides update on the Burkina Faso gold project at Bilbale. Following a site visit by the company's consultant a work programme has been suggested. Thinks Red Rock should embark on a detailed geo-structural mapping program of select areas and a quick-start program production testing alluvial and placer deposits employing specialist washing and concentration plants. Consultant thinks Bilbale holds significant potential that requires an aggressive program of value enhancement. "It is further my opinion that this permit can, if subjected to an appropriate exploration program, realize a significant Resource and Reserve in excess of 1 Moz over the next two years," consultant says. The chief executive and other senior personnel will be on site to oversee camp preparations from late next week, with a view to starting operations at scale from early June after arrival of personnel and equipment, Red Rock says.

Red Rock Resources raises GBP260,000 to fund Burkina Faso activities

(Alliance News) - Red Rock Resources PLC on Thursday said that it has raised GBP260,000 from a placing of 509.8 million shares at 0.051 pence each.

Red Rock reports progress in Burkina Faso, DRC

(Sharecast News) - Natural resources developer Red Rock Resources updated the market on two key areas on Friday, being the ongoing arbitration in the Democratic Republic of the Congo (DRC) related to the VUP copper-cobalt joint venture, and developments regarding its gold assets in Burkina Faso.

EARNINGS: AdvancedAdvT hails "good progress" after Capita deal

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:

TRADING UPDATES: Audioboom extends partnerships; Ecora eyes growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

TRADING UPDATES: Windward extends LSEG pact; Vinanz eyes DTC trading

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

IN BRIEF: Red Rock awaits arbitration ruling; mulls ASX listing

Red Rock Resources PLC - Africa, South America and Australia-focused natural resource explorer and developer - Releases update in relation to the arbitration in the Democratic Republic of Congo with respect to the USD10 million claim the company is pursuing relating to the VUP copper-cobalt joint venture. Notes last Monday, a subsidiary received judgement for USD2.5 million while the results of an arbitration hearing in order to obtain USD7.5 million was pending. Red Rock says a draft of the arbitration award has been received and an update will be provided as soon as possible - perhaps by Friday. In Australia, work continues on two key local gold projects - Berringa Mine and Ajax Mine. Continues to discuss with its partner the best structure for going forward. Says sourcing capital to drill these tenements will be a priority in 2024 to bring one of these gold targets into JORC-compliant resource status. Listing Red Rock on the ASX is also being considered now to realise value for shareholders and provide the funds necessary to further advance the projects.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Red Rock brings in Vinanz chair to help enhance key assets

Red Rock Resources PLC - Africa, South America and Australia-focused natural resource explorer and developer - Hires David Lenigas as a strategic consultant as it "begins a new phase of growth". Lenigas is the executive chair of North America-focused oil and gas producer Pennpetro Energy PLC, and of British Virgin Islands-registered bitcoin miner Vinanz Ltd.

IN BRIEF: Red Rock notes draft arbitration for DRC subdsidiary

Red Rock Resources PLC- Africa, South America and Australia-focused natural resource exploration and development - Notes the receipt of a draft arbitration award in regard to its subsidiary in the Democratic Republic of Congo. Says Arbitration hearings and negotiations have been held in Kinshasa in order to obtain 50% of the USD15 million still to be paid. Says draft awaits signature and will provide an update "as soon as possible." Adds that geochemical testing of the Bilbale licence in Burkina Faso, and mapping of key zones has begun, with a view to semi-mechanised mining of alluvial areas and follow-up drilling of hard rock targets. Notes promising rock chip results from mapped areas at Bilbale, including 14.7 grams per tonne and 11.2 g/t of gold. A development team is arriving at the site in Bilbale.

IN BRIEF: Red Rock Resources awaits Elephant Oil listing in new year

Red Rock Resources PLC - Africa, South America and Australia-focused natural resource exploration and development - Pretax loss widens to GBP3.0 million in the financial year that ended June 30 from GBP2.8 million the year before. Red Rock generates no revenue. Administrative expenses increase to GBP1.4 million from GBP1.2 million. Finance costs more than double to GBP613,000 from GBP285,000.

Red Rock Resources raises GBP500,000 via placing to fund projects

(Alliance News) - Red Rock Resources PLC on Thursday said it raised GBP500,000 from a placing of new shares, which will be used towards developing projects.

TRADING UPDATES: First Class says Zigzag enthusiasm "vindicated"

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: