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Resource Star Limited - Joint Venture

16th Mar 2010 10:01

RNS Number : 6464I
Red Rock Resources plc
16 March 2010
 



RED ROCK RESOURCES PLC

 

Resource Star Limited - Joint Venture

 

Dated: 16 March 2010

 

Red Rock Resources plc ('Red Rock' or the 'Company') the mining exploration and mineral investment company with interests in steel feed, uranium, and gold announces that its associate company Resource Star Limited (ASX: RSL) has today announced a Joint Venture Agreement ('JVA') with Globe Metals & Mining Ltd (ASX : GBE) in respect of the Livingstonia Project, a sandstone-hosted uranium project in Northern Malawi. 

 

The JVA provides for RSL to earn up to 80 per cent. equity interest in the advanced Livingstonia Uranium project, on which over 11,000m of drilling has taken place, through exploration expenditure. RSL will earn an initial equity of 20 per cent. by completing an immediate Resource Estimate and following up with 1,000m of drilling, planned for later in 2010.

 

Following market purchases on 4 March 2010 and 11 March 2010, Red Rock is now interested in approximately 26.3 per cent. of RSL's issued ordinary share capital.

 

The text of the announcement may be accessed via:

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=rsl 

 

 

For further information contact:

 

Red Rock Resources plc

Andrew Bell, Chairman

0207 402 4580/07766 474849

John Watkins

07768 512404

Nominated Adviser

Religare Capital Markets

Peter Trevelyan-Clark/Ben Jeynes

020 7444 0800

Broker

Simple Investments Ltd

Nick Emerson, Renato Rufus

01483 413500

Public Relations

Lothbury Financial Limited

Ron Marshman

020 7011 9411

 

 

Updates on the Company's activities are regularly posted on its website www.rrrplc.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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