Update on Australian Assets

Red Rock Resources plc

16 August 2024

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Update on Australian Assets

16 August 2024

Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia, announces, further to the announcements of 13^th March 2024, 12^th June 2024 and 19^th June 2024, that the date for fulfilment of the £250,000 payment obligation under section 5(c) of the Agreement to take 100% ownership of its Australian Gold interests, and related amounts, has been re-set to 13^th September 2024 by agreement between the parties to that Agreement.

Red Rock CEO Andrew Bell comments: "As noted in our announcement of April 5^th we have been working for the release of the arbitration award in relation to our Congolese interests. Handover of this matter to the new post-election Administration has taken place and we have been in Kinshasa over recent weeks and expect to return for the final meeting.

Given the tempo of activity during the holiday season across the Company's activities, notably in DRC but also in Burkina Faso where we are moving towards gold production and travel plans have been affected by illness of two key personnel, we are grateful for the agreement of the vendors in Australia in adjusting the timing of one element of the consideration. 

In Victoria exploration in the easternmost of our licences at Kilmore is under way, across the boundary from Southern Cross Gold's exploration at Sunday Creek, and we will report on this once we have sufficient results.

NDAs have now been signed with various potential listed partners. With the help of our advisors, we are discussing possibilities for a listing of the assets.

We intend to report an operational and financial update covering developments in the Company's business in the coming days."  

For further information, please contact:

Andrew Bell 0207 747 9990                                                       Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD Beaumont Cornish Limited

Bob Roberts 0203 8696081                                                        Broker Clear Capital Corporate Broking

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

END