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 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%.
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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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17/03/09 Andrew Bell of Red Rock Resources Speaks to Proactiveinvestors
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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