RNS research note5 Nov 2024 07:20
Directors supported placing: Chief Executive Officer and Managing Director, David Price, invested £10,000 in the fundraise, increasing his holding to 1.83% and Non-Executive Director, Nicholas Walley, invested £60,000 increasing his holding to 4.15%. The support of the Directors demonstrates their belief and support in the company. – Potential for Molaoi deal: Rockfire is exploring non-dilutive funding opportunities that could include a joint venture or farm out on the Molaoi Project. Rockfire has had previous success with this strategy at the Lighthouse Gold Project, in Australia during 2023. – Recently updated resource: Rockfire recently increased the size of the JORC 2012 compliant mineral resource estimate by 500% to 15.0 million tonnes (Mt) at an average grade of 9.96% zinc equivalent (ZnEq), with contained ZnEq of 1,500 kilo tonnes (Kt). – Globally significant deposit: This dramatic increase in the scale of the resource base has put Molaoi within the top 20 undeveloped zinc projects globally in terms of both contained ZnEq and ZnEq grade.