Red Rock Resources (LON:RRR) looks set for a bout of belt-tightening as difficult market conditions look set to continue for mining companies.
The company has been looking closely at staffing levels, and substantial measures have already been taken to cut back costs, the company revealed.
Further details will be released, including the projected impact on the cost structure of the business, once the review has been completed.
"We have taken and are taking further radical steps to restructure not only our balance sheet but our cost structure,” said Andrew Bell, chairman of Red Rock Resources, in a statement that also included a review of the company’s operational progress.
“Improvement of our cash flow balances, both by reducing outflows and creating inflows, is a principal objective, since this will cause the market to attribute more value to the strong asset backing of the company and provide a more robust platform for growth and for taking advantage of opportunities that arise in the depressed natural resource space," he added.