Red Rock Resources plc

Published : January 29th, 2016

Partial sale of holding, update

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Keywords :   Colombia | Georgia | Gold | London | Oil |

Partial sale of holding, update

RNS Number : 3752N

Red Rock Resources plc

29 January 2016

Red Rock Resources plc

("Red Rock" or the "Company")

Partial sale of holding, Update

29 January 2016

Sale of SRT

Red Rock Resources plc, the mining and exploration company with interests in gold and oil exploration announces, further to its announcements of 2 December 2015 and 29 December 2015 that it has disposed of its remaining investment in Star Striker Limited (ASX:SRT)("SRT"), formerly Resource Star Limited.

A total of 13,035,134 shares in SRT have been sold for net proceeds of AUD 286,027 , at an average price per share of c. AUD 2.194 cents. In addition 500,000 SRT options exercisable up to 31st March 2016 at a price of AUD 0.004 per SRT share ("Options") were sold for a consideration of AUD 9,405. The total consideration for the sales is AUD 295,432 (approximately £145,833).

Following the sale, the Company has entirely disposed of its shares in SRT. The Company retains 4,713,290 Options.

The disposed assets stood in the books of Red Rock as at 30thJune 2015 at an audited value of AUD 91,245.

Other

Further to the announcements of 14 April 2015 and 15 May 2015, the second tranche of sale proceeds from the sale of Red Rock's Colombian interests, amounting to USD 225,000, is expected in mid-February 2016. Additionally, on 13 January 2016 it was announced that Colombia Milling Limited ("CML"), the buyer of these interests, had signed letters of intent with a public company for a transaction that if implemented would give the Company a right to early conversion of the USD 1,000,000 promissory note executed by CML into listed shares. The announcement may be found at:http://bit.ly/1KHPW3W. As is noted therein, the transaction is subject to several conditions precedent including the approval of the TSX Venture Exchange.

Further to the announcement of 17 November 2015, the Company announces that the hearing in the Nairobi High Court on Red Rock's application for judicial review took place as scheduled on 27 January 2016, a timetable was set, and the matter was scheduled for mention on 18 February 2016.

For further information, please contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd

Christian Pickel 0203 128 8208 Media Relations MHP Communications


This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAPFPALPKEFF

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Data and Statistics for these countries : Colombia | Georgia | All
Gold and Silver Prices for these countries : Colombia | Georgia | All

Red Rock Resources plc

EXPLORATION STAGE
CODE : RRR.L
ISIN : GB00B0CQLF79
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Red Rock Res. is a gold and iron exploration company based in United kingdom.

Its main exploration property is MIGORI GOLD in Kenya.

Red Rock Res. is listed in Germany and in United Kingdom. Its market capitalisation is GBX 26.2 millions as of today (US$ 31.1 millions, € 28.0 millions).

Its stock quote reached its highest recent level on April 11, 2014 at GBX 9.87, and its lowest recent point on June 28, 2024 at GBX 0.04.

Red Rock Res. has 503 658 124 shares outstanding.

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Project news of Red Rock Resources plc
4/23/2015Australian Associate interest in Sugar Dragon
5/15/2011Red Rock Resources Plc
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Corporate news of Red Rock Resources plc
7/28/2016Acquisition of Further Interest in Goldstone
7/28/2016Shoats Creek Update
7/14/2016Audited results for the year ended 31 December 2015
7/14/2016Shoats Creek Operations Update
7/13/2016Annual Results
6/20/2016Second Price Monitoring Extn
6/20/2016Price Monitoring Extension
6/16/2016Directors Dealings
6/14/2016Cancellation and Re-issue of Options
6/8/2016Shoats Creek Update
5/17/2016Holding(s) in Company
5/11/2016Update - Colombia
5/5/2016Transaction completion and operational update
4/29/2016Financing, Directors Dealings and TVR
4/14/2016Director/PDMR Shareholding
4/13/2016Holding(s) in Company
3/24/2016Shoats Creek Update
2/2/2016Infrastructure and production at Shoats Creek
2/1/2016Grant of Options and Directors' Shareholdings
2/1/2016Total Voting Rights
1/29/2016Partial sale of holding, update
1/22/2016Share Incentive Plan and Directors' Dealings
1/20/2016Investment
1/2/2016Total Voting Rights
12/30/2015Holding(s) in Company
12/21/2015Result of AGM, Board change Capital reorganisation
12/18/2015Director/PDMR Shareholding
12/16/2015Loan Repayment and Update
12/14/2015Issue of Equity
11/5/2015Update on Star Striker Ltd
10/28/2015Option to Invest in Shoats Creek
10/19/2015Holding(s) in Company
10/9/2015Convertible Note Conversion
10/5/2015Update; Restructuring
9/21/2015Operations Update
9/7/2015Convertible Loan Note
9/2/2015Total Voting Rights
7/27/2015Holding(s) in Company
7/16/2015Holding(s) in Company
7/13/2015Final Tranche of Subscription Shares
7/9/2015Update on Subscription and Directors' Dealings
7/8/2015Investment and Share Subscription
6/30/2015Board Changes
6/30/2015Update on Resource Star Ltd
6/26/2015Update
6/26/2015Option to invest in Elephant Oil Limited
4/23/2015Convertible Note Conversion
4/21/2015Holding(s) in Company
4/14/2015Share Incentive and Directors' Dealings
4/14/2015Attendance at UK Investor Show
4/14/2015Columbian Gold Assets - Sale Agreement
4/7/2015Convertible Note Conversion
4/7/2015Holding(s) in Company
4/7/2015Total Voting Rights
4/7/2015Loan Repayment and Convertible Note Conversion
3/16/2015Director/PDMR Shareholding
3/16/2015Update and Placing
3/16/2015Holding(s) in Company
3/16/2015Convertible Note Conversion and Issue of Equity
3/16/2015Update
2/20/2015Update
1/30/2015Issue of Convertible Loan Note
1/30/2015Ivory Coast and Colombia Update
1/2/2015Total Voting Rights
12/30/2014Result of AGM, Capital Re-organisation
12/30/2014Holding(s) in Company
12/10/2014Issue of Equity and TVR
2/5/2013new website now live
12/6/2011News Release
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