Proactive Investors - Run By Investors For Investors

Red Rock Resources El Limón sale almost over the line

Red Rock Resources El Limón sale almost over the line
In Kenya, the firm said the firm has instructed lawyers and kicked off proceedings to protect Red Rock's interests in its Migori gold project, Red Rock said.

Red Rock Resources (LON:RRR) updated further on the sale of its El Limón gold assets in Colombia, saying the sale has now closed in escrow.

The closing process began at the end of April with executed transfers and original certificates sent by courier to the buyer's lawyer who was holding documents in the process, which is known as 'escrow'.

All that's pending is receipt of a legal opinion updated to today from Red Rock's lawyers in Colombia.

Purchaser Colombia Milling will then take control of operations at El Limon and will embark on the first stages of their investment programme in order to increase mine and plant throughput and enable the business to process ore from other operations in the region.

In Kenya, the firm said the firm has instructed lawyers and kicked off proceedings to protect Red Rock's interests in its Migori gold project, Red Rock  said.


View full RRR profile View Profile

Red Rock Resources PLC Timeline

Related Articles

A vanadium ore stockpile at Nelly
August 31 2018
The country’s favourable regulatory system enables faster turnaround of legacy mining rights.
Gruyere Gold Project
January 14 2019
Aspiring miner Gold Road is hoping to produce 150,000 ounces a year for its investors.
dollar and gold
September 20 2018
Wishbone Gold's unique business model is now beginning to bear fruit

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use