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Red Rock Resources boosted as granted stay over Kenya licences termination

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In May this year, its interests were thrown into doubt as it revealed its part owned associate Mid Migori Mining (MMM) has been advised that the two licences have been terminated

Red Rock Resources (LON:RRR) shares rose as it got some breathing space over the government termination of  special licences 122 and 202 in Kenya as it has been granted a stay on the decision.

A court has also allowed the firm a judicial review, the firm said.

In May this year, its interests were thrown into doubt as it revealed its part owned associate Mid Migori Mining (MMM) has been advised that the two licences have been terminated.

It also updated Wednesday further on the sale of its El Limón gold assets in Colombia, saying the sale process had been completed.

The remainder of the first tranche of consideration - US$450,000 - has been paid by the purchaser and the completion documents have been released from escrow, completing the sale process, it said.

Shares added 7.69% to 0.07 each.

Quick facts: Red Rock Resources PLC

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Price: 0.5825 GBX

Market Cap: £7.09 m

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