Red Rock Resources plc said it had received an offer “in respect of its interest” in Red Rock Resources Australasia Ltd (RRAL) with licences in Victoria, containing the Berringa mine, and South Australia.
DELAYS
No further details were given in the announcement on 23 August.
The company and partner Power Metal Resources plc owned 50.1% and 49.9% respectively of subsidiary New Ballarat Gold Corporation plc which wholly owns local operator RRAL.
In June, Red Rock purchased Power Metal’s share by issuing 166,666,667 new ordinary shares in the company to Power Metal, a £250,000 convertible loan note and 100 million warrants.
Earlier in August the company secured more time to pay for the acquisition following delays to its Congolese arbitration award and Burkina Faso gold production.
Red Rock also said at the time that non-disclosure agreements had been signed with “various potential listed partners” for the Australian assets.