www.rrrplc.com
Red Rock Resources Plc is a mineral exploration company focused on the discovery and development of gold, uranium and other minerals. The Company through its sale of assets to Jupiter Mines Ltd on the ASX, of which it remains a significant shareholder, is also committed to the pursuit through Jupiter of an active 'steel feed' strategy for consolidating large scale interests in iron ore, manganese, and prospectively coal.
Red Rock in pursuit of its goals follows varying strategies, operating through exploration for, and exploiting 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. Red Rock Resources (AIM: RRR) listed on London’s AIM market in July 2005.
The principal operational focus of the Company in 2011 is its gold assets in Kenya and gold investment in Colombia.
Red Rock Resources receives three manganese tenements; to transfer into Jupiter Mines
Mineral exploration and investment company, Red Rock Resources (AIM: RRR) confirmed this morning that it had received three additional tenements in Western Australia prospective for manganese. The three tenements, in addition to one already held by Red Rock, form the second phase of an agreement between Pallinghurst Resources and Jupiter Mines (ASX: JMS). The first phase saw Pallinghurst inject capital into Jupiter Mines while Red Rock vended its iron ore exploration interests in Australia in return for equity. Red Rock currently holds a 15.2% interest in Jupiter, while Pallinghurst holds 26%.
The second phase will see Red Rock Resources vend its Oakover Project, which includes four tenements north of Consolidated Minerals Woodie Woodie Manganese Mine in Western Australia into Jupiter Mines, subject to shareholder approval.
Assuming Jupiter Mines exercises the option, Red Rock Resources and Pallinghurst Resources will be issued approximately 54.1 million and 26.8 million shares respectively, increasing their combined holding in Jupiter to 55.5%.
