Red Rock Resources plc has raised $1.24 million after selling a substantial part of its remaining holding in manganese producer Jupiter Mines Ltd. CHANGES The company said it retained 5,870,693 shares in Jupiter which focuses on the Tshipi mine in South Africa. “We manage our investments actively and having formed the view that prospects in […]
Tag: Red Rock Resources plc
Red Rock-Power Metal set up Australia gold JV
Red Rock Resources plc and Power Metal Resources plc have started the incorporation of a new holding company for their joint venture in the Victoria gold fields, Australia. IPO The companies’ current joint company, Red Rock Australasia Pty Ltd (RRAL), will be held in New Ballarat Gold Corporation plc (NBGC). RRAL will become a wholly owned […]
Power Metal raises £300,000 via insider warrant exercises
Power Metal Resources plc raised £300,000 following completion of irrevocable insider warrant exercises. Value Generation Ltd, a private company beneficially owned by Power Metal’s chief executive Paul Johnson, completed its irrevocable undertaking to exercise warrants to subscribe for 10 million new ordinary shares of 0.1p each at an exercise price of 1.0p per ordinary share raising £100,000. Following admission […]
Red Rock appoints Alex Borrelli as independent NED
Red Rock Resources plc has appointed Alex Borrelli to the board as an independent non-executive director with immediate effect. Mr Borrelli, FCA, initially studied medicine and then qualified as a chartered accountant with Deloitte, Haskins & Sells, London in 1982. He then worked in corporate finance at Guinness Mahon, Samuel Montagu and as a corporate […]
Red Rock awards drill contract for Mikei gold project, Kenya
Red Rock Resources plc has contracted Base Drilling and Mining Services Co. Ltd for a 2,000m reverse circulation (RC) drill programme at the Mikei gold project in Kenya. The junior explorer also plans infill and step-out drilling to improve resource classification and size, and has the option to increase the programme. Base Drilling is expected […]
Red Rock to swap EOL shares in oil and gas, Benin
Red Rock Resources plc has accepted an offer to exchange its shares in Elephant Oil Ltd (EOL) which holds hydrocarbon exploration licences onshore Benin. Red Rock has a 4.68% holding in EOL at a current value of £137,500 and the swap will be for shares in Elephant Oil Corp (EOC). The miner said it would […]