Re Contract

RNS Number : 8191V
Red Rock Resources plc
16 July 2009
 



RED ROCK RESOURCES PLC


Termination of Mobile Gold Treatment Plant Contract


Dated:  16 July 2009


Red Rock Resources plc ('Red Rock' or the 'Company') the mining exploration and mineral investment company with interests in iron ore and manganese in Australia and Zambia, and uranium investments in Africa and Australia, announced on 17 April 2009 that Red Rock had entered into a contract to purchase a mobile gold treatment plant, with an option to purchase a second unit, from Resource Gold Proprietary Limited ('RGL').


The parties have mutually agreed to terminate the purchase contract, and Red Rock's initial payment of AUD 100,000 will be returned in two equal instalments, due respectively by 16 October 2009 and 16 November 2009. 

Red Rock continues to hold approximately 11 per cent. of the issued ordinary share capital of RGL.


The termination of the purchase agreement reflects a strategic decision by both parties to place greater emphasis on their own interests, which makes it appropriate for Red Rock to concentrate on developing its interests, including gold, independently, and for RGL to devote its resources to developing plant for its own operations.


Enquiries:


Andrew Bell

0207 402 4580

07766 474849

Red Rock Resources plc

Chairman

John Watkins

07768 512404




Alan Mackenzie /

Peter Trevelyan-Clark /

Ben Jeynes


020 7489 4500

Blomfield Corporate Finance Ltd

Nominated Adviser

Nick Emerson

01483 413500


Simple Investments Ltd

Broker

Ron Marshman /

John Greenhalgh

020 7011 9411

Lothbury Financial Limited

Public Relations



Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
CNTEALXKFLSNEFE
UK 100