Red Rock Resources plc said that a group of high net worth investors had acquired a 10% early stage interest for US$100,000 in the company’s lithium project in Zimbabwe.
APPLICATIONS
The funds will develop the company’s 75% subsidiary African Lithium Resources Pvt Ltd (ALR) which it established in March.
Red Rock recently submitted an application for 46ha near Arcturus and agreed the acquisition of a net 25ha of claims East of Bikita.
The company added that work continued on additional applications within and outside the registered area.
INTEREST
Red Rock chairman Andrew Bell said that investors continued to focus interest on Zimbabwe, the biggest lithium producer in Africa.
“We welcome the new investors in our lithium assets, and welcome their energy and commitment in driving this project forward.”