Red Rock Resources plc now owns 100% of its Australian gold joint venture after completing the purchase of its partner’s share. The company bought Power Metal Resources plc’s 49.9% interest in subsidiary New Ballarat Gold Corporation plc, which wholly owns local operator Red Rock Australasia Pty Ltd. The transaction covers exploration licences in the Victoria […]
Tag: Red Rock Resources plc
Red Rock opts for lower cost sea freight
Red Rock Resources plc said a rise in air freight rates had led it to transport testing and production equipment by sea to its Bilbale and Boulon gold projects in Burkina Faso. LOGISTICS Containers have been loaded ahead of ships setting sail, although maritime rates have also increased. Initial earth moving and trucking equipment, generators […]
New Ballarat extends sale & purchase date
Power Metal Resources plc has agreed to extend the sale date of its 49.9% interest in its Australian gold joint venture to partner Red Rock Resources plc because of a national public holiday. EXPLORATION Red Rock owns 50.1% of New Ballarat Gold Corporation plc, which wholly owns Red Rock Australasia Pty Ltd (RRAL), the local operator with […]
Red Rock issues 81m incentive shares
Red Rock Resources plc has issued 80,928,000 ordinary shares of £0.0001 each in the company under its share incentive plan. The awards are for the 2023/24 tax year as agreed by the trustees in their meeting held on 2 April 2024. Under the SIP, all eligible employees may elect to have monthly deductions from their salary […]
Red Rock raises £260,000 via placing
Red Rock Resources plc has raised £260,000.04 before expenses via a placing of 509,804,000 new ordinary shares in the company at 0.051 pence per share. Following admission, the company’s issued ordinary share capital will comprise 4,058,050,811 ordinary shares, each with voting rights. Proceeds will be used to bring Red Rock’s gold assets in Burkina Faso to […]
Red Rock focuses on cash flow as losses rise
Red Rock Resources plc said it continued to rationalise parts of its portfolio to generate cash as the company recorded an increase in six-month losses. PRIORITIES Chairman Andrew Bell said that the company would focus on early gold production and other “immediate cash flow operations”. Medium or long-term projects will be prioritised for short- term […]