Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRed Rock Resources Regulatory News (RRR)

Share Price Information for Red Rock Resources (RRR)

Share Price is delayed by 15 minutes
Get Live Data
0.023    0.00 (0.00%)
Bid:
0.022
Ask:
0.024
Spread: 0.002 (9.091%)
Market Cap: £2.20m
RRR Live PriceLast checked at - London Stock Exchange

Intraday Red Rock Resources Share Chart

Kenya Update

7 May 2015 07:00

RNS Number : 4135M
Red Rock Resources plc
07 May 2015
 

Red Rock Resources Plc

("Red Rock" or the "Company")

Kenya update

 

7 May 2015

 

Red Rock Resources plc, the mining and exploration company with interests in gold in Africa and investments in other mineral assets, announces an update on its interests in Kenya.

 

Red Rock's local partner in Kenya, Mid Migori Mining Ltd ("MMM"), has today been advised by the Ministry of Mining of the termination of its Special Licenses numbers 122 and 202 ("the SLs").

 

MMM intends to challenge this purported termination. MMM also continues to have an application for a Mining License over a part of the SLs, submitted in 2012 pending at the Ministry.

 

Meanwhile Red Rock through its local affiliate Red Rock Kenya Limited is applying for the ground covered by the SLs. The Ministry has indicated that in considering this application the work and expenditure of the Company since 2009 will be taken into account.

 

As at 31 December 2014, Kenya-related items were in the books of the Company at a carrying value of approximately £8.5m. In the event that there is no rapid and positive outcome in Kenya, the Company will expect to make a further impairment of these assets at year end.

 

Andrew Bell, Chairman of the Company, comments: "I think shareholders are aware that progress in Kenya has for some time been held up by political and other issues, despite the excellent exploration work we had carried out there, and therefore our interests there have not been the focus of our activities. We are sorry at this action taken by the Ministry of Mines towards Mid Migori Mining Ltd, which we do not think is to the benefit of the exploration and mining industry in Kenya. However Red Rock has moved vigorously to protect its interests and will continue to do so. The outcome may yet be favourable."

 

 

For further information, please contact:

 

Andrew Bell0207 747 9990 or 0776 647 4849 Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.

Christian Pickel 0203 128 8817 Media Relations MHP Communications

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCAFMFTMBJMBIA
Date   Source Headline
12th Jun 20177:00 amRNSUpdate
5th Jun 20179:20 amRNSJupiter Mines: update
3rd May 20173:30 pmRNSTotal Voting Rights
25th Apr 20176:11 pmRNSHolding(s) in Company
13th Apr 20173:45 pmRNSHolding(s) in Company
6th Apr 201710:53 amRNSIncentive plan share issue, Directors' dealings
5th Apr 20173:38 pmRNSColombia Update
22nd Mar 20174:37 pmRNSUnaudited half-yearly results
14th Mar 201712:13 pmRNSJupiter Mines: appointment of financial adviser
13th Mar 201712:31 pmRNSReplacement: Jupiter Mines: Update
13th Mar 201710:57 amRNSJupiter Mines: Update
22nd Feb 20177:00 amRNSUpdate - Shoats Creek
6th Feb 20178:18 amRNSHolding(s) in Company
23rd Jan 20177:07 amRNSColumbia Update
23rd Jan 20177:00 amRNSJupiter Mines:Equal Access Buy Back
16th Jan 20177:00 amRNSGrant of Options, Directors' Shareholdings
12th Jan 20177:00 amRNSShoats Creek Update
10th Jan 20172:22 pmRNSHolding(s) in Company
30th Dec 201611:37 amRNSResult of AGM
13th Dec 20167:00 amRNSUpdate on investments
12th Dec 20162:30 pmRNSHolding(s) in Company
1st Dec 20167:00 amRNSFinal Results
21st Nov 20167:00 amRNSJupiter Mines: US$55m Distribution to Shareholders
14th Oct 201611:00 amRNSUpdate - gas production at Shoats Creek
19th Sep 20162:57 pmRNSHolding(s) in Company
7th Sep 20162:18 pmRNSHolding(s) in Company
5th Sep 201611:05 amRNSSecond Price Monitoring Extn
5th Sep 201611:00 amRNSPrice Monitoring Extension
5th Sep 20167:00 amRNSUpdate
31st Aug 20166:24 pmRNSTotal Voting Rights
24th Aug 20167:00 amRNSStrategic Financing and TVR
16th Aug 20167:00 amRNSUpdate
28th Jul 20169:57 amRNSAcquisition of Further Interest in Goldstone
28th Jul 20167:01 amRNSShoats Creek Update
14th Jul 20169:00 amRNSShoats Creek Operations Update
1st Jul 201612:04 pmRNSUpdate on El Limon
20th Jun 20169:05 amRNSSecond Price Monitoring Extn
20th Jun 20169:00 amRNSPrice Monitoring Extension
16th Jun 20164:55 pmRNSDirectors Dealings
14th Jun 20162:22 pmRNSCancellation and Re-issue of Options
8th Jun 20167:35 amRNSShoats Creek Update
17th May 201611:19 amRNSHolding(s) in Company
11th May 20167:00 amRNSUpdate - Colombia
5th May 20167:00 amRNSTransaction completion and operational update
29th Apr 201611:00 amRNSFinancing, Directors Dealings and TVR
28th Apr 201611:00 amRNSAcquisition of Share Interest, Issue of Shares
14th Apr 20161:35 pmRNSDirector/PDMR Shareholding
14th Apr 20167:00 amRNSDirector/PDMR Shareholding
13th Apr 20163:48 pmRNSHolding(s) in Company
12th Apr 201611:46 amRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.