Interim Results

Red Rock Resources plc 26 March 2007 Red Rock Resources plc Half-yearly report - six months ended 31 December 2006 Chairman's statement Dear Shareholder The six months to 31st December 2006 saw continuing progress. The share price during the period reflected what we felt to be happening in the company, as we progressed our key projects, and rose from 1.25p at the beginning of the period to 2.5p at the end of it, although this was a period that saw generally poor price performance by our peer group. Corporate events On 3rd August we completed a further placing of 5,018,750 shares at 2p per share following the initial placing of 5,018,750 shares announced in June. The placement price was above the company's market price at the time and placees included the Company's largest shareholder, Regency Mines plc. On 22nd September we welcomed Michael C. Nott to the board. Mike Nott, aged 57, has a BSc in geology from Queen Mary College, London University, and an MSc in Mineral Production Management from the Royal School of Mines. His extensive experience in Zambia and the UK and his knowledge and perspectives are valuable to the Company. We redesigned our website, that is now available in English, German, and Chinese, and towards the end of 2006 we instituted a programme of improved shareholder communications by sending out our first Newsletter. We had a good response to this, and hope to develop further our ability to keep shareholders informed of our progress. We do look forward to hearing shareholders views, whatever the feedback. Exploration We began mapping and sampling at our 400 ha manganese project at Chiwefwe near Mkushi in Zambia. Encouraging results from this programme led to a trenching and 15-hole shallow RAB drilling programme designed to test whether mineralisation was a surficial phenomenon or extended at depth. Sufficient data was obtained from this work to justify the conclusion that high grade bodies might exist near surface that would enable us to scale up to large scale production using selective mining. CSA Consultants have proposed a more extensive shallow diamond drill programme to investigate this further. Meanwhile, we have been ceded a Small Scale Mining License and have significant quantities of high grade stockpiled material on site with the ability to obtain further material and sustain a modest level of production from surface material. Jupiter Mines Ltd, the option holder on our Mt Ida and Mt Hope iron ore tenements in Western Australia, discovered a new high grade haematite patch grading 66.25% iron 1500m north of the Mt Ida trig point, and an eastern zone with some high values extending over 10km of strike. The possibility that the Mt Ida mineralisation combined with that discovered by drilling on their Mt Mason tenement adjacent to the west will bulk up to form an economic deposit has led them to plan a further sampling and drilling programme on Mt Ida. Preliminary geophysical reinterpretation, and limited sampling, on the company's uranium tenements in the Northern Territory has taken place and a report on the uranium assets of the company prepared. In accordance with Northern Territory law, by which after the first year of tenement grant the holding size has to be reduced by 50% on each anniversary, the Woolgni license EL 23569 underwent reduction to 709.3 sq km. During the second half of the Company's year the Edith River license EL 23568 will come up for reduction. Outlook Following the end of the period under review the Company has raised a further £699,000 (£185,000 of which was received by the period end) through two placings at 2p per share. The placings are to provide further funding for exploration work in Zambia with the object of bringing the Manganese assets towards early production, and for working capital. The Uranium market is buoyant, and prospects for the uranium price in 2007 seem favourable. Uranium stocks have seen strong speculative interest on the Canadian and Australian stock markets. The Directors have appointed DJ Carmichael Capital Markets in Australia to advise on ways to create further added value to the Company's uranium assets, and are currently evaluating various proposals. We expect the forthcoming period to be one of much activity. Significant developments will be communicated to shareholders as they occur. We thank you for your support in 2006. Whatever the year may hold for the rest of our sector, we look to 2007 with confidence and enthusiasm. Andrew R. McM. Bell Chairman 26 March 2007 Consolidated profit & loss account 6 months to 6 months to Year to 31 December 31 December 30 June 2006 2005 2006 Unaudited Unaudited Audited £,000 £,000 £,000 Operating income 16 - - Direct costs (15) - - Gross profit 1 - - Exploration costs (93) - (58) Administrative expenses (143) (100) (134) Currency loss - - (5) Operating loss (235) (100) (197) Interest receivable - 2 4 Loss on ordinary activities before taxation (235) (98) (193) Tax on loss on ordinary activities - - - Loss on ordinary activities after taxation (235) (98) (193) Retained loss for the period £(235) £(98) £(193) Loss per share - see note 3 Basic (0.14) pence (0.07) pence (0.13) pence Fully diluted (0.14) pence (0.07) pence (0.13) pence Consolidated balance sheet 31 December 31 December 30 June 2006 2005 2006 Unaudited Unaudited Audited £,000 £,000 £,000 Fixed assets 963 939 999 Current assets Debtors 137 17 26 Cash at bank and in hand 46 217 101 Current asset investments 81 - 16 264 234 143 Creditors - amounts falling due within one year (258) (74) (39) Net current assets 6 160 104 Total assets less current liabilities £969 £1,099 £1,103 Capital and reserves Called up share capital 172 162 167 Share premium account 1,237 1,051 1,142 Profit and loss account (440) (111) (206) Other reserves - (3) - Equity shareholders' funds £969 £1,099 £1,103 Consolidated cash flow statement 6 months to 6 months to Year to 31 December 31 December 30 June 2006 2005 2006 Unaudited Unaudited Audited £,000 £,000 £,000 Net cash inflow/(outflow) from operating (380) (181) (340) activities Capital expenditure and investment - (604) (121) Cash outflow before financing (380) (785) (461) Financing - equity 100 1,002 562 Financing - short term loans 225 - - (Decrease) / increase in cash in the period £(55) £217 £101 Reconciliation of movement in shareholders' funds 6 months to 6 months to Year to 31 December 31 December 30 June 2006 2005 2006 Unaudited Unaudited Audited £,000 £,000 £,000 Total recognised losses relating to the period (235) (98) (193) Proceeds of share issues, net of expenses 100 995 1,091 Other reserves (3) - Increase in shareholders' funds (135) 894 898 Opening shareholders' funds 1,103 205 205 Closing shareholders' funds £968 £1,099 £1,103 Half-yearly report notes 1. Half-yearly report This half-yearly report was approved by the Directors on 26 March 2007. The information relating to the six month periods to 31 December 2005 and 31 December 2006 is unaudited. The information relating to the year ended 30 June 2006 is extracted from the audited accounts of the Company which have been filed at Companies House and on which the auditors issued an unqualified audit report. 2. Basis of accounting The report has been prepared using accounting policies and practices that are consistent with those adopted in the statutory accounts for the year ended 30 June 2006, although the information does not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. The information relating to the six month period to 31 December 2005 has been adjusted to reflect this. These half-yearly financial statements consolidate the financial statements of the Company and its subsidiary. The Company and Group will report again for the full year to 30 June 2007. 3. Loss per share 6 months to 6 months to Year to 31 December 31 December 30 June 2006 2005 2006 Unaudited Unaudited Audited £,000 £,000 £,000 These have been calculated on a loss of: (98) (98) (193) The weighted average number of shares used was: 170,933,777 147,015,978 154,319,058 Share options were no dilutive during the period and expired on 31 December 2006 Basic loss per share: (0.14) pence (0.07) pence (0.1) pence Copies of this half-yearly report are available free of charge by application in writing to the Company Secretary at the Company's registered office, 55 Gower Street, London WC1E 6HQ, or by email to andrew@bellmin.com. This information is provided by RNS The company news service from the London Stock Exchange

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