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Regency and Red Rock sell Cue Resources holdings to Resource Star


Red Rock Resources PLC (LON:RRR) and Regency Mines PLC (LON:RGM), both chaired by Andrew Bell, have announced the disposals of their entire holdings in Cue Resources Ltd (CVE:CUE) to Resource Star Limited (ASX:RSL) - where the AIM dealmaker is chairman and chief executive.

Regency is selling its holding of 4,506,385 Cue shares to Resource Star for C$444,000.

Red Rock - in which Regency holds 20.96 percent and which in turn holds a 24.9 percent stake in Resource Star - is selling 15,798,000 Cue shares to Resource Star for C$1.56 million.

Red Rock is also transferring a C$200,000 loan to Cue at face value together with warrants to subscribe in aggregate for 15,798,000 additional Cue shares.

Cue Resources is a Vancouver-based exploration company focused on developing the Yuty uranium project in Paraguay.

Quick facts: Red Rock Resources PLC

Price: 1.04 GBX

Market: AIM
Market Cap: £7.25 m

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