10th Jun 2024 16:19
Red Rock Resources PLC - resources development company focused on gold, base metals, battery metals, and hydrocarbons projects in Africa and Australia - Agrees short extension of the long stop date relating to taking 100% ownership of Red Rock Australasia Pty Ltd from Power Metal Resources PLC to Tuesday. This reflects Monday's public holiday in Australia. Explains an announcement relating to the transaction will therefore not be issued before Wednesday. Power Metal Resources acknowledges the statement. Further, Red Rock discloses "exceptional" gold drill results from Australia. In addition, says preparation of operating sites continues at Bilbale and Boulon in Burkina Faso. Due to increase in air freight charges, decides to to transport containers by sea. Target times for arrival are early July. Chief Executive Andrew Bell comments: "Progress towards continuous operations in Burkina Faso continues satisfactorily. The scale of the logistics operation is considerable, and involves overcoming regulatory challenges at the points of both export and import." Bell describes results in Australia as "astonishing."
Current stock price: 0.057 pence
12-month change: down 56%
By Jeremy Cutler, Alliance News reporter
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