Red Rock Resources makes progress with early exploration at Luanshimba
Red Rock has a diverse portfolio of exploration assets
Company
LON:RRR
Red Rock Resources PLC is a natural resource exploration and development company. The company manages a diverse portfolio of mining and oil and gas projects and investments around the world.
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Red Rock has a diverse portfolio of exploration assets
The three new licences cover several areas near the historic mining centre of Ballarat in Victoria for a term of five years
The company said Jupiter is planning to create a new company, Juno Minerals, which will offer 80mln shares to the market in a bid to raise A$20mln for the firm's Central Yilgarn Iron Ore assets
The company is presently preparing field exploration programmes.
Red Rock's stake in Jupiter is valued at about £2.2mln
Red Rock has a diverse portfolio of assets around the world, and plenty of experience operating in Africa
Red Rock received half-year dividend of £363,000 from Jupiter
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“We believe we have exceptional projects, and with good science and good exploration we can bring their potential to light,” said chairman Andrew Bell
The company said the objective of the survey is to identify conductive targets and improve understanding of local structure to optimise subsequent drill targeting at the site, located in the Congolese Copperbelt
The firm said it has appointed CSA Global (UK) to provide an updated mineral resource report that will bring a historic 1.2mln ounce mineral resource estimate into compliance with the JORC 2012 code
The pair have applied for an additional 148 square kilometres of ground surrounded on all sides by their existing licence applications
A full programme of geological work will be developed over the coming weeks
Red Rock has a diverse portfolio of operational and investment assets around the world
“The company rests on a powerful tripod of interests whose value is becoming less speculative and more real,” says chair Andrew Bell
The money will be used for exploration said the mining junior
David Holden was involved in the initial discoveries at Nimary/Jundee, Brocks Creek, Mt Todd (Australia), Ngaka Coal Field (Tanzania), and Big Sandy lithium (USA)
The joint venture holds a significant swathe of ground in a highly prospective area
Jupiter said that it has approved progressing the execution of an IPO of its Central Yilgarn Iron Ore assets in Western Australia, which it said will “crystallise value form the CYIP assets”
Red Rock has a diverse portfolio of assets spread around the world