Red Rock Resources plc has signed a binding conditional sale for its subsidiary, LacGold Resources SARLU, which owns gold exploration licences and applications in Ivory Coast. FLEXIBILITY The company will in exchange receive 13,250,000 shares, with a current value of AUD 715,500 (£350,000) or AUD 0.054 per share, in Australian purchaser Dalaroo Metals Ltd. Dalaroo […]
Tag: Ivory Coast
Red Rock receives El Limon proceeds
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 […]
Red Rock progresses West Africa assets
Red Rock Resources plc plans fieldwork on its gold licences in Burkina Faso and has received interest from prospective purchasers in its Ivory Coast assets. APPROACHES In Burkina Faso the company owns the Bilbale and Boulon licences covering 348km2 of “highly prospective” gold ground. Red Rock has engaged Le Bureau des Mines et de la […]
Red Rock faces administration over debt
Red Rock Resources plc said it might have to file for administration if it fails to find sufficient funds to clear its debts. CREDITORS Of the total, the company owes £654,000 to Power Metal Resources plc in respect of their joint venture New Ballarat Gold Corporation plc in Australia. Rescheduled payments include two of £200,000 […]
Red Rock aims to finalise DRC arbitration award
Red Rock Resources plc aims to finalise its $10 million arbitration award either this week or next in the Democratic Republic of Congo. PROGRESS The company said it expected an initial $2.5 million from its local partner with $7.5m pending. The figures represent 50.1% of what was received by its partner from the buyer and […]
Red Rock completes transfer of Boulon licence
Red Rock Resources plc has completed transfer to the company of the Boulon gold licence in southwest Burkina Faso. BOULON In January 2022, the company acquired two exploration projects of Boulon and Bilbale in the prolific Boromo and Banfora greenstone belts. Boulon lies on the centre of a mapped channel containing some of the “highest […]