29th Jul 2005 08:30
Red Rock Resources plc29 July 2005 Red Rock Resources plc Admission to trading on AIM Dated: 29 July 2005 Red Rock Resources plc ("Red Rock" or the "Company") was admitted to trading onAIM today, 29 July 2005, following a Placing of 27,300,000 new Ordinary Sharesin share capital of the Company at 2p per Share to raise approximately £476,000million, net of expenses. Red Rock has been established as a mineral exploration and development companyfocussed on advancing its iron ore and manganese projects in Western Australiaand in Tasmania. Red Rock has acquired nine tenements at Oakover, Mt Ida, Mt Hope, and Mt Alfred,all in Western Australia, and at Savage River North and Arthur River inTasmania. Currently none of the tenements have been granted however pursuant tothe material contracts entered into by the Company Red Rock is entitled to bethe 100% beneficiary of the tenements. Following the successful Placing, Red Rock will undertake mapping, geophysics,and shallow drilling to evaluate the grade, extent, and metallurgical characterof the mineralisation within its tenements. The results will be utilised indeveloping JORC Code compliant estimates of resource. The Directors believe thatfurther funding of the Company will be required as work progresses. Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc Chairman John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Ron Marshman/John Greenhalgh 020 7628 5518 City of London PR Limited Public Relations This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Red Rock Resources