Red Rock Resources
Red Rock Resources Plc is an exploration and mineral property investment company focused on the discovery and development of iron ore, manganese and uranium, both through exploration for, and exploitation of, mineral deposits, through the acquisition and disposal of interests in actual or potential mineral deposits or companies holding them in exchange for cash, securities, or royalty and other deferred interests, through buy-in agreements and joint ventures with such companies, and through public offerings of securities in subsidiary or associate companies. Its operations are located in Australia and South Eastern Africa. Red Rock Resources (AIM: RRR) listed on London’s AIM market in July 2005.
Red Rock Resources reduces size of share offer to 68 mln from 116 mln
Red Rock Resources PLC reduced the size of the share offer announced last week, saying it is issuing 68 million shares to raise £340,000 before expenses and not 116 million raising £580,000 as envisaged, following further consultation with The Panel on Takeovers and Mergers.
Wills & Co Stockbrokers Ltd have agreed to subscribe for 40 million new shares, which will amount to 9.9 percent of the enlarged issued share capital.
Equity Resources PLC, a company of which Red rock director John Watkins is a director, has agreed to subscribe for 10 million shares, and will hold approximately 2.5 percent of the enlarged.
Regency Mines PLC, a company of which chairman Andrew Bell, Watkins and managing director Ken Watson are directors, currently is interested in 127,350,000 ordinary shares representing approximately 37.7 percent. Regency will subscribe for 6 million placing shares and its holding will be 133,350,000 shares, diluting its stake in Red Rock to approximately 32.9 percent.
Starvest PLC, another company of which Watkins is a director, will take 2.4 million new shares and be interested in 8,650,000 shares, an approximate 2.1 percent stake of the enlarged capital.
Watkins will personally take 1 million new shares, raising his holding to 1.5 million shares, or a 0.37 percent.
Red Rock said it will not issue any warrants.
Red Rock Resources is an exploration and mineral property investment company focused on the discovery and development of iron ore, manganese and uranium exploration assets. Its operations are located in Australia and South Eastern Africa.
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Other Red Rock Resources articles
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17/08/09 Red Rock Resources in deal to acquire 60 pct of Migori gold project in Kenya
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13/07/09 Red Rock Resources : Building a steel feed business in a JV with Pallinghurst
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05/08/08 Red Rock Resources' recent activity suggests a bigger game plan is in play
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11/12/07 Red Rock Resources has a multi-faceted asset development approach
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04/07/07 Is Red Rock Resources on a Roll?
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16/11/06 Red Rock Resources Manganese project could tip the balance
Other Red Rock Resources news
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16/03/10 Red Rock Resources’ associate Resource Star agrees Livingstonia uranium JV with Globe Metals & Mining
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15/03/10 Red Rock Resources receives 2007 Migori drilling results, latest samples to undergo assaying
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08/03/10 Edison Investment Research says Red Rock associate Jupiter Mines has been re-rated following Tshipi deal
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01/03/10 Red Rock Resources associate Jupiter in transformational A$490m manganese project stake acquisition
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19/02/10 Red Rock Resources associate Resource Star to re-list on ASX
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18/02/10 Edison ups Red Rock Resources asset valuation, says discount to NAV could be 89%
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03/02/10 Red Rock Resources and Pallinghurst end cooperation agreement for Jupiter Mines as targets achieved
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29/01/10 GE&CR says Red Rock Resources' own projects undervalued, maintains 'speculative buy'
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14/01/10 Red Rock Resources testing latest samples from prospects at Migori gold project, Kenya
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10/12/09 Red Rock investee Jupiter Mines sets 1.1 – 1.3 bln tonnes exploration target for Mt Ida iron ore project