Appointment of Consultant - Migori Tailings

RNS Number : 5694O

Red Rock Resources plc

20 September 2011

 



RED ROCK RESOURCES PLC

Appointment of Consultant - Migori Tailings Scoping Study

Dated:   20 September 2011

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Greenland and Colombia, exploration in Kenya, and interests in steel feed, uranium, and rare earths, reports the appointment of a consultant to complete a scoping study on the Migori tailings project, Kenya.

The Company is pleased to announce that it has appointed London-based consultants St Barbara LLP to conduct a Risk and Gap Analysis and Scoping Study of the Macalder Tailings Project, Kenya.

The agreed deliverables are:

·    Stage 1 SWOT Analysis and Gap Assessment Report to enable a decision to be made for Stage 2 work.

·    Stage 2 Report at Scoping level providing mining, infrastructure and processing capital and operating cost estimates.

·    A DCF, all equity, pre-tax cashflow model with fixed and variable cost elements and sensitivity analyses.

The Company has requested that a Draft Final Report be produced by mid-November, with the intention that the Company will then be in a position to make an assessment of the possibility of internally funding the project and of making an immediate decision to proceed.

Enquiries:

Andrew Bell	020 7402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7402 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.

 

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MSCURSRRANAKUAR