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Pin to quick picksRed Rock Resources Share News (RRR)

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TRADING UPDATES: Victoria Quarter Earnings Rise, Launches Tender Offer

Tue, 23rd Feb 2021 18:08

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

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Victoria PLC - Worcestershire-headquartered flooring firm - Announces tender offer to purchase EUR50 million of senior secured notes due 2024. Also says it intends to offer EUR350 million in senior secured notes due 2026. Says it will use the new cash for general corporate purposes - particularly acquisitions - and the partial refinancing of existing 2024 senior secured notes to further improve the maturity profile of the group's debt. Additionally, highlights higher quarterly earnings with revenue for the third quarter to December-end up 16% year-on-year at around GBP184 million and earnings before interest, tax, depreciation, and amortization at GBP120.0 million.

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Sunrise Resources PLC- miner focused on operations in Nevada, US and Western Australia - Says a 500-ton sample of natural pozzolan has been delivered to a large cement and ready-mix company in the US. Adds results from a strength testing of mortar blocks made using a 20% substitution of ordinary Portland cement with natural pozzolan from the 500-ton bulk sample shows mortar strength "well in excess of the requirements of ASTM C618" after just seven days curing. Less positively, due to high demand for perlite, all potential customers are currently focussing on their own production and this has caused delays to Sunrise receiving test results of its own product. Separately, Sunrise says it is progressing with drilling plans at Bakers Gold project in Australia, noting the proposed drill programme will comprise five reverse circulation drill holes between 100 metres and 200 metres deep to test three separate gold targets which include old mine workings, areas of gold nugget production and a gold-in-soil geochemical anomaly.

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Serinus Energy PLC - oil company with operations in Romania and Tunisia - Notes flow test results of the Moftinu-1008 well in Romania show the 1,000 metre well flowing 4.0 million standard cubic feet per day, around 667 barrels of oil equivalent per day. Notes the well is now awaiting tie-in as the flowline connecting in to the Moftinu gas plant has been completed and requires final pressure testing.

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Bezant Resources PLC - copper-gold exploration and development company - Begins diamond drill testing at its Kalengwa exploration project area in Zambia. Notes the maiden 800 metre programme will test the first two priority exploration targets based on review of extensive historic exploration datasets. Says target Kalengwa SW2 shows strong magnetic and copper geochemical anomalies that straddle the major Kalengwa Lineament structure 2.5 kilometres southwest from a former mine and target Minemba is located on a structural "mirror image" of the Kalengwa mine setting just 4 kilometres distant, with a coincident copper geochemical anomaly. Says it has signed a drill contract and a rig will be mobilised soon.

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Greatland Gold PLC - precious and base metals exploration and development in Western Australia and Tasmania - Says initial 2021 work programme for the Juri gold-copper joint venture with Australia-based Newcrest Mining Ltd includes drilling of several targets within the Paterson Range East and Black Hills licences. Adds it has identified multiple additional targets within the Juri JV following analysis of results of a airborne electromagnetic survey and further geological interpretation of regional aeromagnetics. Notes exploration work at the Juri JV is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

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United Oil & Gas PLC - oil and gas explorer - Says preliminary results form its ASH-3 development well at the Abu Sennan project in Egypt show a maximum rate of 7,720 barrels oil equivalent per day, comprising 6,379 barrels of oil per day and 6.7 million cubic feet per day from the Alam El Bueib reservoir during well-testing

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Red Rock Resources PLC- gold explorer in Kenya and Australia, copper-cobalt in DRC - Says mineral resource estimate at Mikei Gold Project in Kenya is 15.13 million tonnes at 1.49 grams per tonne of gold, with contained metal content of 723,000 ounces of gold. "We now have the opportunity to build on this solid base and it is our belief that the potential for expansion at and around Mikei is strong," says Chair Andrew Bell.

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Golden Rock Global PLC - special purpose acquisition company eyeing buy in fintech sector - Raises GBP200,000 through the subscription for 3.2 million shares at GBP0.0625 each and will use the capital for "much-needed" additional working capital which will extend the period during which it is able to continue to seek an acquisition. Separately, says non-executive directors Feng Chen and Bin Shi resign effective immediately, but does not give the reason why.

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By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
7 Jan 2022 18:07

IN BRIEF: Red Rock reports "encouraging" drill results at Mikei

IN BRIEF: Red Rock reports "encouraging" drill results at Mikei

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7 Jan 2022 13:04

Red Rock reports 'extremely encouraging' drilling results from Mikei

(Sharecast News) - Gold and base metals-focussed development company Red Rock Resources reported the results of the first batch of 950 samples from the recently-completed first phase of reverse circulation drilling in the mid KKM prospect on Friday, at the Mikei Gold Project in Kenya.

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6 Jan 2022 17:10

Red Rock wins USD2.5 million court order; acquires two new projects

Red Rock wins USD2.5 million court order; acquires two new projects

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29 Dec 2021 15:19

IN BRIEF: Red Rock Resources falls to loss on rising development costs

IN BRIEF: Red Rock Resources falls to loss on rising development costs

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15 Dec 2021 21:29

IN BRIEF: Power Metal Resources JV granted new exploration licence

IN BRIEF: Power Metal Resources JV granted new exploration licence

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8 Dec 2021 14:54

TRADING UPDATES: Tandem's sales pick up; Duke enters record deal

TRADING UPDATES: Tandem's sales pick up; Duke enters record deal

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8 Dec 2021 11:44

Red Rock Resources makes solid progress at Kenya's Mikei project

(Sharecast News) - Gold, manganese and copper company Red Rock Resources updated the market on its exploration programmes at the Mikei Gold Project (MGP) in Kenya on Wednesday, reporting that 1,744 metres of reverse circulation drilling had so far been completed at the KKM Central prospect.

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16 Nov 2021 14:53

TRADING UPDATES: Diurnal's Swiss boost; Filta to top forecasts

TRADING UPDATES: Diurnal's Swiss boost; Filta to top forecasts

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18 Oct 2021 20:25

IN BRIEF: Red Rock applies for exploration permits via subsidiary

IN BRIEF: Red Rock applies for exploration permits via subsidiary

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18 Oct 2021 10:55

Red Rock applies for five exploration permits in Cote d'Ivoire

(Sharecast News) - Gold, copper and cobalt-focussed development company Red Rock Resources has made applications for five exploration permits through its wholly-owned Côte d'Ivoire subsidiary LacGold Resources, it announced on Monday.

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11 Oct 2021 19:51

TRADING UPDATES: Baron Oil boosts P2478 stake amid Upland farmout pact

TRADING UPDATES: Baron Oil boosts P2478 stake amid Upland farmout pact

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29 Sep 2021 14:57

Red Rock disposes of 'substantial part' of Jupiter holding

(Sharecast News) - Natural resource development company Red Rock updated the market in relation to its investment in the ASX-listed Jupiter Mines on Wednesday, reporting that over recent weeks, it had disposed of a "substantial part" of its remaining holding in Jupiter through market sales at an average price of 30.4 Australian cents per Jupiter share, for proceeds of AUD 2.33m (£1.24m).

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29 Sep 2021 14:28

TRADING UPDATES: Literacy Capital gets NAV uplift from Hometree stake

TRADING UPDATES: Literacy Capital gets NAV uplift from Hometree stake

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21 Sep 2021 19:42

TRADING UPDATES: Meggitt shareholders approve Parker-Hannifin takeover

TRADING UPDATES: Meggitt shareholders approve Parker-Hannifin takeover

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16 Sep 2021 17:28

IN BRIEF: Red Rock Resources completes survey at Kenyan Mikei project

IN BRIEF: Red Rock Resources completes survey at Kenyan Mikei project

Read more

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