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.

 

END

 

 

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