Ascot Mining plc

RNS Number : 9307X

Red Rock Resources plc

14 December 2010

 



RED ROCK RESOURCES PLC

Ascot Mining plc

Dated: 14 December 2010

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed, uranium, and rare earths notes this morning's announcement by Red Rock investee company Ascot Mining plc ("Ascot") in which Ascot announced that it had amended its ore supply contract at the Boston concession, which lies to the Northeast of Tres Hermanos and El Recio, to include a joint venture to process high grade ore through the mill on site - at an initial daily throughput of 5 tons per day. Ascot expects this to make an immediate contribution to Ascot's revenue. The full text of the announcement made by Ascot can be viewed at:

http://www.plus-sx.com/newsItem.html?newsId=1035041

Red Rock's interest in Ascot is held by way of 10% convertible loan notes 2015, convertible at any time at Red Rock's discretion into new Ascot ordinary shares at 20 pence per share. In addition Red Rock holds 740,000 Ascot ordinary shares and has warrants to subscribe for a further 10,300,000 additional new Ascot ordinary shares at an exercise price of 20 pence per new Ascot ordinary share, valid for 5 years. Ascot is quoted on the PLUS-quoted market, an exchange regulated market operated in London by PLUS Markets plc, where it trades under the stock code ASMP, and is traded on XETRA and PLUS.

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.

 

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