Last checked at 11 Apr 2024 07:00
Red Rock Resources PLC
("Red Rock" or the "Company")
Issue of Shares
11 April 2024
Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia, announces that it has placed 509,804,000 new ordinary shares ("Placing Shares") by a placing at 0.051 pence per share, raising a total of £260,000.04 before expenses ("Placing"). The Placing was arranged by Clear Capital Markets Limited.
The Placing proceeds will be applied to bringing gold assets in Burkina Faso to production, in accordance with the announcement of 27 February 2024, and other working capital purposes.
Red Rock CEO Andrew Bell comments: "We are moving forward with production and pre-production activities in Burkina Faso, in order to start alluvial production and testwork at Bilbale. We are working to a tight schedule for operations to start within weeks, subject to the usual caveats. We continue to work with the programme and costings outlined in our announcement of 27 February 2024.
In the DRC, we continue to expect a quick resolution."
Admission to Trading on AIM and Total Voting Rights
Application is being made for 509,804,000 new ordinary shares to be admitted to trading on AIM, the admission of which it is expected on or around 18 April 2024.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Placing Shares, its issued ordinary share capital will comprise 4,058,050,811 ordinary shares.
All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 4,058,050,811. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Bob Roberts 0203 8696081 Joint Broker Clear Capital Corporate Broking
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed in accordance with the Company's obligations under Article 17.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.