Red Rock Resources plc has paid part of the amount due to acquire its partner’s 49% share in their Australian gold exploration joint venture. CLNs The company announced earlier this year its intention to purchase Power Metal Resources plc’s share in New Ballarat Gold Corporation plc. NBGC, held by local operator Red Rock Resources Australasia […]
Tag: Victoria gold fields – Ballarat – Australia
Red Rock receives offer for Australia gold assets
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% […]
Red Rock defers payment for Australia assets
Red Rock Resources plc has secured more time to pay £250,000 to take control of all its Australia gold assets. EXPLORATION The parties agreed a new date of 13 September following delays to the company’s Congolese arbitration award and employee sickness in Burkina Faso. Red Rock said it had been in Kinshasa over recent weeks […]
Red Rock takes 100% of Australia gold JV
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 […]
Power Metal to sell 49.9% interest in Australia JV
Power Metal Resources plc has conditionally sold its 49.9% share in its Australian joint venture to partner Red Rock Resources plc for up to £1.5 million. BERRINGA The purchase, subject to Red Rock’s due diligence and shareholders’ approval, would be payable in cash, Red Rock ordinary shares and warrants. The two companies set up New Ballarat […]
New Ballarat finds further visible gold at Berringa
New Ballarat Gold Corp (NBGC) has now found visible gold in four of six completed diamond drill holes for a total 988 metres at Berringa mine in the Victoria gold fields in Australia. JOINT VENTURE The company, planned for listing, is a joint venture (JV) between Red Rock Resources plc (51.1%) and Power Metal Resources […]