DRC this week5 Nov 2024 07:22
Looking forward to Bell’s progress report when he returns this week to DRC, as he says “update frequently”.
Not exactly a fan of his blog but at least it does show shareholders that he’s working hard to move RRR forward.
1 November 2024
“Since Monday 21st October a series of important meetings have taken place with institutions of the Presidency, and we expect to visit various locations on a return visit next week.
The meetings were focussed primarily on new business opportunities, but the unresolved matters surrounding the Court Judgment in our favour for $2.5m and our pending Arbitration award were necessarily raised.
A framework agreement has been signed with our local associate, Koto DRC SARL, under which we would participate with them on an equal basis on a new project (the "JV"). This agreement is conditional upon, and its operational terms depend upon, the JV being allocated a suitable asset or assets upon terms agreeable to the partners”
Red Rock CEO Andrew Bell comments "We continue to prepare for the final award of the arbitration. In parallel, and never ceasing to emphasise that it is essential we demonstrate the ability to obtain justice and repatriate funds in this existing matter, we have through the relationships established in the country found ourselves in a position to move forward in a close co-operation which is expected to lead to a new project opportunity.
These are continuing discussions, and given their sensitivity and potential impact on the Company we will continue to update frequently, erring always however on what we judge to be the side of caution."
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