Announcement re Resource Star

RNS Number : 8713X
Red Rock Resources plc
13 December 2010
 

RED ROCK RESOURCES PLC

("Red Rock" or the "Company")

Announcement re Resource Star Limited

Dated: 13 December 2010

Red Rock notes the announcement made by ASX listed Nimrodel Resources Limited (ASX:NMR) ("Nimrodel") today in which Nimrodel announced an agreement to acquire 100% of Walkabout Resources Pty Ltd ("WR").

WR had entered into a memorandum of agreement with the Company in October 2009 whereby it agreed to farm in to the Company's Arthur River tenement EL11/205 and create a joint venture ("JV") in return for AUD300,000 of stock in WR to be issued to Red Rock upon the listing of WR on the Australian Stock Exchange. On 14 January 2010, as announced by the Company, Red Rock sold its interest in this license to Resource Star Limited (ASX: RSL) ("RSL"), Red Rock's 24.9% owned associate, together with a 90% interest in Ilomba Hill in Malawi (EPL 0264/08) in exchange for 550,000 new RSL shares. Red Rock however retained the right to the AUD300,000 of stock in WR.

In addition to Red Rock's 24.9% shareholding in RSL, which will hold a 35% carried interest in the JV, which has been enhanced by the addition by WR of EL 19/2009 and EL 20/2009, Red Rock will directly receive A$300,000 of Nimrodel shares at a price per Nimrodel Share to be determined.

The full text of the Nimrodel announcement can be accessed via the following link:

http://www.asx.com.au/asxpdf/20101213/pdf/31vk97bfccqpgc.pdf

 

 Enquiries:

 

Andrew Bell

0207 402 4580 or

07766 474849

 

Red Rock Resources plc

Chairman

 





Sandra Spencer

0207 402 4580 or

07757 660 798

 

Red Rock Resources plc

Public and Investor Relations





Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

Religare Capital Markets

Nominated Adviser





Nick Emerson

01483 413500

Simple Investments Ltd

Broker

 

 

 

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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