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.

 

END

 

 

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