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Resource Star Ltd Update

5 Sep 2013 15:48

RNS Number : 3523N
Red Rock Resources plc
05 September 2013
 

Red Rock Resources plc

("Red Rock" or the "Company")

Resource Star Ltd - Update

 

5 September 2013

Resource Star Ltd (ASX:RSL) ("RSL"), a 39% owned associate of the Company, issued two announcements to the Australian Stock Exchange today.

Further to Red Rock's announcement of 2nd August 2013, relating to a binding term sheet with Searex Petroleum (BVI) Limited ("Searex") for the acquisition of an oil project in Abilene, Texas, U.S.A., RSL has issued an update on due diligence and has also released a Presentation on the Texas project.

Further details of these announcements can be accessed on the ASX website:

http://www.asx.com.au/asxpdf/20130905/pdf/42j5vbv9d1v86g.pdf

http://www.asx.com.au/asxpdf/20130905/pdf/42j5vvctf0c08w.pdf

Red Rock holds 46,908,584 shares in RSL, representing 38.6% of the total issued shares. Additionally, Red Rock is entitled to be issued a further 8,000,000 RSL shares on the exercise of AUD 100,000 Convertible Notes which have now been issued to Red Rock by RSL (including the 4,803,357 share entitlement referred to in the announcement of 2nd August 2013).

Red Rock Resources Plc is a mining and exploration company with an iron ore project in Greenland, a producing gold mine in Colombia, and advanced gold and copper exploration in Kenya.

Red Rock Chairman Andrew Bell comments: "As stated by RSL, due diligence is going well so far and the due diligence team is on the ground in Texas. The opportunity is a most promising one that has the potential to transform RSL, and this first presentation, though necessarily partial at this stage, conveys some sense of that."

Enquiries:

Andrew Bell

020 747 9990 or

07766 474849

Red Rock Resources plc

Chairman

Sandra Spencer

020 747 9990 or

07757 660 798

 

Red Rock Resources plc

Press Relations

Colin Aaronson

020 7383 5100

Grant Thornton

UK LLP

 

Nominated Adviser

 

Nick Emerson

01483 413500

SI Capital Limited

Broker

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCNKPDQQBKDOCK
Date   Source Headline
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28th Mar 20137:01 amRNSHalf Yearly Report
11th Mar 20135:50 pmRNSIssue of Equity
18th Feb 20134:35 pmRNSPrice Monitoring Extension
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14th Nov 201212:09 pmRNSUpdate
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29th Oct 20122:18 pmRNSGreenland Update
19th Oct 20127:00 amRNSFinal Results
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2nd Oct 201211:55 amRNSColombia Update
20th Sep 20125:42 pmRNSMigori Project Regional Exploration Update
19th Sep 201212:59 pmRNSIssue of Equity
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5th Sep 201211:43 amRNSJupiter Mines Limited
3rd Sep 20124:40 pmRNSSecond Price Monitoring Extn
3rd Sep 20124:35 pmRNSPrice Monitoring Extension
29th Aug 20121:01 pmRNSFurther Drilling Results from Greenland

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