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Ascot Mining plc

14 Dec 2010 12:22

RNS Number : 9307X
Red Rock Resources plc
14 December 2010
 



RED ROCK RESOURCES PLC

 

Ascot Mining plc

 

Dated: 14 December 2010

 

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed, uranium, and rare earths notes this morning's announcement by Red Rock investee company Ascot Mining plc ("Ascot") in which Ascot announced that it had amended its ore supply contract at the Boston concession, which lies to the Northeast of Tres Hermanos and El Recio, to include a joint venture to process high grade ore through the mill on site - at an initial daily throughput of 5 tons per day. Ascot expects this to make an immediate contribution to Ascot's revenue. The full text of the announcement made by Ascot can be viewed at:

 

http://www.plus-sx.com/newsItem.html?newsId=1035041

 

Red Rock's interest in Ascot is held by way of 10% convertible loan notes 2015, convertible at any time at Red Rock's discretion into new Ascot ordinary shares at 20 pence per share. In addition Red Rock holds 740,000 Ascot ordinary shares and has warrants to subscribe for a further 10,300,000 additional new Ascot ordinary shares at an exercise price of 20 pence per new Ascot ordinary share, valid for 5 years. Ascot is quoted on the PLUS-quoted market, an exchange regulated market operated in London by PLUS Markets plc, where it trades under the stock code ASMP, and is traded on XETRA and PLUS.

 

 

Enquiries:

 

Andrew Bell

0207 402 4580 or

07766 474849

 

Red Rock Resources plc

Chairman

 

Sandra Spencer

0207 402 4580 or

07757 660 798

Red Rock Resources plc

Public and Investor Relations

 

Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

 

Religare Capital Markets

 

Nominated Adviser

 

Nick Emerson

 

01483 413500

 

Simple Investments Ltd

 

Broker

 

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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