Red Rock Resources
PLC
("Red Rock" or the
"Company")
Update
1
November 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, further to
announcements and RNS Reach announcements on 7th,
14th, 18th and 23rd October 2024,
a further update in relation to its activities in the Democratic
Republic of Congo ("DRC").
Since Monday 21st October
a series of important meetings have taken place with institutions
of the Presidency, and we expect to visit various locations on a
return visit next week.
The meetings were focussed primarily
on new business opportunities, but the unresolved matters
surrounding the Court Judgment in our favour for $2.5m and our
pending Arbitration award were necessarily raised.
A framework agreement has been
signed with our local associate, Koto DRC SARL, under which we
would participate with them on an equal basis on a new project (the
"JV"). This agreement is conditional upon, and its operational
terms depend upon, the JV being allocated a suitable asset or
assets upon terms agreeable to the partners.
Red
Rock CEO Andrew Bell comments "We continue to prepare for
the final award of the arbitration. In parallel, and never ceasing
to emphasise that it is essential we demonstrate the ability to
obtain justice and repatriate funds in this existing matter, we
have through the relationships established in the country found
ourselves in a position to move forward in a close co-operation
which is expected to lead to a new project
opportunity.
These are continuing discussions, and given their sensitivity
and potential impact on the Company we will continue to update
frequently, erring always however on what we judge to be the side
of caution."
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
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