Red Rock Resources plc has attended a “series of important meetings” on new business opportunities in the Democratic Republic of Congo.
DISCUSSIONS
The company said it had also signed a framework agreement with its local associate Koto DRC SARL for an equal new joint venture, conditional on acquiring suitable assets.
Red Rock expects to return next week to visit “various locations”.
The court judgment for $2.5m and pending arbitration award were also raised during the meetings.
Chairman and chief executive Andrew Bell added: “We continue to prepare for the final award of the arbitration.
“In parallel, and never ceasing to emphasise that it is essential we demonstrate the ability to obtain justice and repatriate funds in this existing matter, we have through the relationships established in the country found ourselves in a position to move forward in a close co-operation which is expected to lead to a new project opportunity.
“These are continuing discussions, and given their sensitivity and potential impact on the company we will continue to update frequently, erring always however on what we judge to be the side of caution.”