Red Rock Resources
PLC
("Red Rock" or the
"Company")
Issue of
Shares
23
October 2024
Red Rock Resources Plc, the natural
resource exploration and development company with interests
in gold, base metals, battery metals, and
hydrocarbons principally in Africa and Australia, announces that it has
placed 597,014,925 new ordinary shares ("Placing Shares") by a
placing at 0.0335 pence per share raising a total of £200,000
before expenses ("Placing"). CMC Markets UK
Plc, trading as CMC CapX, acted as the Company's placing agent in
respect of the Placing.
The Placing proceeds will be applied
to year-end accounting costs, acquisition and transport of gold
mining equipment, commencement of gold operations in West Africa,
Australian and Kenyan operational and professional costs, and other
working capital purposes.
Red
Rock CEO Andrew Bell comments "We
continue to focus on final
settlement arrangements in relation to our claims in the Democratic
Republic of Congo, and expect a number of developments, which may
favourably impact our financial prospects.
Meanwhile, there is continuing intensive activity as we
prepare to start alluvial gold pre-production and testwork in
Burkina Faso, and our Australian team has to continue its important
work as we discuss with potential partners how to accelerate
development there. These strategic activities present alternative
value-generative paths forward, while the outcome in the DRC is yet
to be reached, and upon a successful outcome in the DRC will retain
value as diversifications of risk.
This is a high cost time of year with management extremely
busy as we focus on accounting and audit across our asset
portfolio. We are grateful for the support by placees which we
believe enables us to reach some key announcement
milestones."
Admission to Trading on AIM and Total Voting
Rights
Application is being made for
597,014,925 new ordinary shares to be admitted to trading on AIM,
the admission of which it is expected on or around 29 October
2024.
In accordance with the provision of
the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority, the Company confirms that, following the issue
of the Placing Shares, its issued ordinary share capital will
comprise 5,655,797,411 ordinary shares.
All of the ordinary shares have
equal voting rights and none of the ordinary shares are held
in Treasury. The total number of voting rights in the Company
will therefore be 5,655,797,411. The above figure may be used by
shareholders as the denominator for the calculations to determine
if they are required to notify their interests in, or change to
their interest in, the Company.
For
further information, please contact:
Andrew Bell 0207 747
9990
Chairman Red Rock Resources
Plc
Roland Cornish/ Rosalind Hill Abrahams
0207 628
3396
NOMAD Beaumont Cornish
Limited
Bob
Roberts 0203
8696081
Broker Clear Capital
Corporate Broking
This announcement contains
inside information for the purposes of Article 7 of Regulation
2014/596/EU, which is part of domestic UK law pursuant to the
Market Abuse (Amendment) (EU Exit) regulations (SI
2019/310) and is disclosed in
accordance with the Company's obligations under Article
17.
Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.
