Update on Star Striker Ltd

RNS Number : 6215E

Red Rock Resources plc

05 November 2015

 

Red Rock Resources plc

("Red Rock" or the "Company")

Update on Star Striker Ltd

5 November 2015

Red Rock Resources plc, the mining and exploration company with interests in gold and oil exploration, has announced, further to its announcement of 5 October 2015, that its Australian associate, Star Striker Limited (ASX:SRT)("SRT"), formerly Resource Star Limited, has, following the success of its early October placement at AUD 0.008, completed a further share placement at AUD 0.0125, raising AUD 812,427 by the issue of 64,994,155 new shares.

The full text of the announcement may be found at:

http://www.asx.com.au/asxpdf/20151104/pdf/432r5nfff6gs52.pdf 

Andrew Bell, Chairman, states: "SRT has issued shares at AUD 0.006, then at AUD 0.008 recently, and now at AUD 0.0125. The increasing liquidity in the stock, and the AUD 2m cash now held, put SRT in  a good position for the next stages of its corporate life, where it can transact from a position of strength and so becomes a desirable partner. The price recovery and the development of liquid trading in this investment has taken time, but now makes this a valuable part of our asset mix, though non-core."

Holding of Red Rock in SRT

The Company currently holds 65,335,134 shares in RSL (amounting to 8.00% of the issued share capital as enlarged by the placement), as well as 5,213,290 options exercisable up to 31^st March 2016 at a price of AUD0.004 per RSL share. As at close of business in Australia on 4^th November 2015 the price of SRT was AUD 0.017 and the market value of the SRT shares and options owned was AUD 1,172,672.

For further information, please contact:

Andrew Bell 0207 747 9990 or 0776 647 4849                             Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990                                                         Director Red Rock Resources Plc

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

Jason Robertson 0129 351 7744                                                 Broker Dowgate Capital Stockbrokers Ltd

Christian Pickel 0203 128 8208                                                  Media Relations MHP Communications

 

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