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.
Rockfire says it will use the returned payment to help continue drilling at its Molaoi deposit in Greece and for ongoing working capital requirements.
Current stock price: 0.22 pence, up 9.7% in London on Tuesday
12-month change: up 25%
By Emma Curzon, Alliance News reporter
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Rockfire (ROCK)