Red Rock Resources plc said it had received the proceeds from selling its gold royalty over the El Limon mine and mill in Colombia.
GOLD
The company will use the money to pay Power Metal Resources plc for its 49% share of their Australia gold joint venture.
Red Rock also hopes to sell its Ivory Coast gold assets and is still awaiting the outcome of its arbitration in the Democratic Republic of Congo.
In July 2025, the company warned that it might have to file for administration if it failed to clear its debts.
Chairman Andrew Bell added: “The potential sale of certain gold assets in Ivory Coast, in respect of which the company received exclusivity payments, is finalising documentation and assuming the parties remain ad idem as to indicative terms would be ready for execution shortly.
“Given the rise in the gold price, the company would in any case be unlikely to extend exclusivity beyond mid-October.
“The company also is expecting to be in a position to provide an update as to developments in the DRC and other progress.”