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There was plenty of activity among London's junior miners this week
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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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There was plenty of activity among London's junior miners this week
Exploration activity in Victoria has intensified significantly in the past year
"Operations have been able to continue with little interruption"
Historical reports have revealed historical production of 70,000 oz of gold over two kilometres of the Dead Horse Lead within the Blue Ribbon site
Red Rock Resources has been a long-standing investor in Jupiter Mines
Red Rock and Power Metal are both staffed by highly experienced entrepreneurial explorers
"With these new applications, the footprint of RRAL at 714 sq km becomes one of the largest in the Ballarat goldbelt."
“Jupiter has shown its capacity to make money even at low manganese prices, so if anything like current prices can be maintained this will be positive for prospects."
“The open-pit operation at Tshipi is an important supplier of metallurgical grade manganese," Red Rock's Andrew Bell said.
Red Rock has a significant stake in a producing manganese company with a mine in South Africa
Red Rock Resources has exposure to gold and manganese, among other commodities
Planning discussions have been held with its geological advisors to ensure the most cost-effective programme, and quotes for some of the geophysical work are awaited
An earlier phase of exploration identified prospective targets
Tshipi has already proved its worth as an income generator
Andrew Bell, chief executive and chairman, said Kenya, the Congo and exploration at Luanshimba are the focus for 2020.
"We look forward to the confirmation of grant, and to renewing progress towards our aim, which is to have a producing gold mine."
Red Rock's stake in Aussie-listed Jupiter Mines was valued at 14% in excess of the AIM-listed company's market value of £3.2mln
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A glance at some of the day's highlights from the Proactive Investors newswire
Red Rock said Jupiter “continues to demonstrate the stability, consistency, and simplicity of the first-rate business it is”
Red Rock Resources said it expects the next phase from work on corporate issues to support its valuation