Final Results
Red Rock Resources plc
18 November 2005
Red Rock Resources plc
Preliminary Results for the year ended 30 June 2005
Dated: 18 November 2005
CHAIRMAN'S STATEMENT
Dear Shareholders,
The financial period to 30th June 2005 was the first of Red Rock's corporate
life, and saw both the Company's conversion to a PLC and the decision taken to
apply for admission to trading on AIM.
In mid-May, Red Rock purchased five iron ore tenements in Western Australia and
Tasmania, and four manganese exploration properties in Western Australia from
Regency Mines plc, Iron and Uranium Limited and Callum Baxter, Paul Winston and
Bernfried Wasse through the issue of 113,559,998 ordinary shares in the Company
and AUS$250,00 in cash.
Following these acquisitions the issued capital of the Company was 113,560,000
with Regency Mines plc holding 88.1% of the issued capital immediately prior to
the placing.
POST BALANCE SHEET EVENTS
On 29th July 2005 Red Rock was admitted to the AIM Market of the London Stock
Exchange, raising £546,000 before expenses. A copy of the Admission
Document, which contains details of the Company's mineral tenements, can be
downloaded from the Company's website at www.rrrplc.com.
On 3rd October the Company acquired a portfolio of five uranium and iron ore
properties in the Northern Territory of Australia from Tennant Creek Gold
Limited. The purchase price was satisfied by the issue of 19,000,000 new
ordinary shares in the Company at 2.5p per share. The properties included the
2,044 sq km Woolgni/Edith River exploration licenses situated some 220 km south
east of Darwin and 35 km south east of Pine Creek, that contain four known
uranium prospects initially explored in the 1950s, as well as areas with strong
gold anomalies confirmed by trenching results including 10.7m at 4.44 g/t Au and
rock chip samples ranging from 0.21 g/t to 31.1 g/t. Alluvial gold mining was
carried out in part of the license in the late nineteenth century.
Two other areas, Celia and Marrakai, acquired at the same time are situated in
the Rum Jungle Uranium Field. Celia contains an established magnesite resource.
The remaining two areas, Hayes Creek South and Daly River, are iron ore
prospects close to infrastructure, where test work has shown strong iron and (in
the case of Hayes Creek South) manganese mineralization. A 1967-8 estimate of
resources at Daly River, following a ten hole drill programme on part of the
property, was 125m tons of haematite iron ore.
EXPLORATION
The Company is shortly to begin exploration programmes at Edith River and at its
Western Australia properties.
OUTLOOK
The directors believe your company is well positioned to grow and anticipate
that 2005-2006 will continue to be a year of active development. The Directors
are constantly reviewing opportunities that are being presented, and expect to
undertake further acquisitions of viable exploration and mining tenements.
CONCLUSION
I would like to record my appreciation and thanks to our new investors who
supported the Placing and to our professional advisers for their support during
the fund raising and the Admission to AIM.
Andrew R. M. Bell
Chairman
16 November 2005
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 JUNE 2005
Period ended
30 June 2005
£
Turnover -
Administrative expenses 20,379
Loss on ordinary activities before taxation (20,379)
Tax on loss on ordinary activities -
Loss on ordinary activities after taxation (20,379)
Retained loss for the year (20,379)
Earnings per share - basic loss (0.1) pence
There are no recognised gains or losses other than the loss for the year.
All of the operations are considered to be continuing.
BALANCE SHEET
AS AT 30 JUNE 2005
30 June 2005
£
Fixed assets
Exploration licences 348,932
Current assets
Cash at bank -
-
Creditors - amounts due within one
year
(143,751)
Net current liabilities (143,751)
Total assets less current 205,181
liabilities
Share capital and reserves
Called-up share capital 113,560
Share premium account 112,000
Profit and loss account (20,379)
Equity shareholders' funds 205,181
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 JUNE 2005
As there were no cash transactions during the period, so none are to be
disclosed in a cash flow statement..
The shares issued during the period were in consideration for the acquisition of
exploration licenses at a value of £225,560.
NOTES
The financial information set out above does not constitute statutory accounts
as defined in section 240 of the Companies Act 1985.
The Directors are not recommending the payment of an ordinary share dividend.
The basic loss per share is derived from the ordinary activities after taxation
of £20,379 divided by 20,178,528 ordinary shares, being the weighted average in
issue during the period. No diluted loss per share is presented.
The balance sheet at 30 June 2005, the profit and loss account, and the cash
flow statement for the period then ended have been extracted from the Group's
statutory financial statements upon which the auditors' opinion is unqualified
and does not include any statement under Section 237 of the Companies Act 1985.
Copies of the report and financial statements will be posted to Shareholders on
24 November 2005 and be available for one month from the Company Secretary at
the registered office from Thursday 24 November 2005.
Alternatively, the report may be downloaded from the Company's website,
www.rrrplc.com.
ANNUAL GENERAL MEETING
The Annual General Meeting of the Company will be held at the offices of
Ronaldsons, 3rd Floor, 55 Gower Street, London WC1E 6HQ England, on Wednesday 21
December 2005 at 11.00 a.m.
ENQUIRIES:
Andrew Bell 07766 474849 Red Rock Resources plc Chairman
John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser
Ron Marshman / John 020 7628 5518 City of London PR Limited Public Relations
Greenhalgh
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