Red Rock Resources Regulatory News (RRR)

31 Mar 2008 07:00

Red Rock Resources plc31 March 2008 Red Rock Resources plc Half-yearly report - six months ended 31 December 2007 31 March 2008 Red Rock Resources plc ("Red Rock" or the "Company") the mineral exploration anddevelopment company focused on advancing iron ore, uranium and manganeseprojects in Australia and East Africa, announces its unaudited half-yearlyreport for the six months ended 31 December 2007. Chairman's statement Dear Shareholder The Company has continued to progress the strategies outlined in previousreports. Summary The Company reports the following developments during the six months to 31December 2007: • £825,000 before expenses raised from share placings, in July 2007 at 3p per share and in November 2007 at 2.5p per share; • Completion of sale of uranium assets to ASX-listed Retail Star Limited; • Promising iron ore exploration results from our neighbours at Mt Alfred and from Jupiter Mines Ltd, a company in which the Company holds a significant shareholding, at Mt Ida; and • Sampling results from November exploration programme at Mt Alfred show several zones of high grade iron mineralisation. ExplorationIn October, Iron Mountain Mining Ltd ("IRM"), the Company's neighbour to theeast and north-east at our 205 sq km Mt Alfred tenement in the Central Yilgarnarea of Western Australia (E29/581), announced sampling results defining 8.8 kmof mineralised strike length at the Iron Mountain, Mount Alfred, and BrookingHills prospects within their license E29/571. At Iron Mountain, 21 rock chipsamples within a sequence of Banded Iron Formation (BIF) and ferruginoussediments averaged 61.3% iron over 2 km, and similarly positive indications wereencountered at the other two prospects. All three prospects form a continuationof the trend that runs through the Company's Mt Alfred licence, and two arecontiguous. In February 2008 IRM announced the results of a 29 hole rotary airblast (RAB) drilling programme on a 200m by 25m grid over parts of theseprospects which had identified several pods of haematite mineralisation ofsufficient grade and tonnage to be considered for economic exploitation. Thebest reported intersection was 34 metres at 62.6% iron, and 11 holes were statedto show average intersections of 6.1 metres of over 60% iron at an average gradeof 61.1%. In November, Mindax Limited ("MDX"), our neighbour to the north at Mt Alfred,which holds seven granted mining leases totalling 55 sq km covering the west andeast limbs and the closure to the north of the structures whose southerncontinuation is into the Company's and IRM's tenements, announced that 167samples taken on 500m spaced traverses across the ironstone units had identified4 target areas where surface grades exceeded 55%. Following further work on theaeromagnetic data, MDX identified over 17km of magnetite and potential haematitemineralisation, and a fifth haematite target north of the fold closure. InFebruary 2008 MDX announced ambitious targets for potential high grade haematitemineralisation, and a drill programme to delineate a resource is planned for May2008. This activity by neighbouring tenement holders, with whom we are in regularcontact, and the information we are deriving from it, has enabled the Company tointensify its programme of work on the iron ore occurrences at Mt Alfred. InNovember we undertook an initial sampling programme in five target areas of theMt Alfred licence, including areas adjacent to those in which our neighbourswere obtaining positive results. In January we were able to announce theresults from this programme, with samples grading over 60% in the Mt AlfredWest, Mt Forrest, and Brooking Hills targets within our licence. Helen Salmonfrom the Company and Dr Marian Skwarnecki of Coffey Mining Ltd carried out afurther programme of mapping and sampling three traverses at Mt Alfred West andMt Forrest in March 2008, taking 67 samples, the results of which are awaited. At Mt Ida, also in the Central Yilgarn, which is now held by Jupiter Mines Ltd("JMS"), but where the Company retains a royalty interest, JMS announced inFebruary the results of a 119 sampling programme on two targets close to itsadjacent Mt Mason discovery, where it has a current inferred resource of 2.2mtons of iron at 60.6%. 32 samples returned values over 55% iron, and JMS plansa further programme which will include the identification of further targets aswell as drilling. Elsewhere, after an initial visit in November 2007, our geologists carried outshort programmes in February and March 2008 at the Company's Tasmanian licences,Savage River North and Arthur River, results of which are awaited. Thismineralised and under-explored area is not easy to access but offerspolymetallic potential and the Company is exploring the area for iron and otherminerals. The adjacent Savage River magnetite mine has recently been sold toShougang Corporation, who is reported to plan a major expansion. Other On 6 August 2007 ASX-listed Retail Star Ltd ("RSL") approved a transactionwhereby the Company sold its Australian uranium assets to RSL. As a result, theCompany became a significant shareholder in RSL. With the grant or transfer ofthe two Malawi licences in January and February 2008, the Company now holds140,000,000 RSL shares. This holding represents 24.2% of RSL's issued sharecapital. Subsequently, Ian Scott joined the RSL board as Managing Director.Ian's extensive experience, including a period as Geology Manager of the OlympicDam mine at a key period in its history, has meant that we have learnt much fromhis professional approach and wealth of knowledge, and look forward to theresults of the exploration and drilling programmes about to commence in theNorthern Territory and in Malawi. On 28 January 2008, the Company issued 18,000,000 shares at 2p, raising £360,000before expenses. As an exploration company without significant cash flow fromoperations, and aware of the tight liquidity in markets as a result of thebanking crisis that has developed since mid-2007, the Company believed itprudent to accept the offer of funding when it was made. The Company continues to seek a satisfactory outcome to the agreement withprivate Chinese parties in Zambia on manganese processing. On 1 April 2008,after a nine month moratorium, new licence applications will be accepted inZambia. Following appraisal work carried out last year, we have identified alicence area we wish to apply for. We continue to progress towards grant of oursubstantial manganese licences in an established producing area of WesternAustralia. In late 2007 the Company began to purchase, a stake in MDX, our neighbour in theCentral Yilgarn. The Company now holds 8,450,000 ordinary shares in MDX - aholding equivalent to 10.02% of MDX's issued share capital. From our positionas MDX's neighbour, we considered we were well placed to perceive the true valueof MDX's mineral assets, and the necessity of closer co-operation between twosmall companies operating in the area. Following the subsequent purchases of a19.9% shareholding in MDX by a local investor in February 2008, this holding isshowing a substantial appreciation in value from our cost price, but the Companycontinues to believe that the area has the potential for direct shippinghaematite iron ore, that the ground held by MDX is promising, and that themarket price does not reflect the long-term potential. It remains our policy to capitalise a part of exploration expenditure where webelieve the book value of the tenements is not reflective of their value andprospectivity for economic mineralisation. The implementation of this policy,in relation to each tenement, is kept under continuous review. We expect to continue to be active in exploration at Mt Alfred, and look forwardto beginning exploration at our Oakover manganese tenements. International financial reporting standards With effect from 1 July 2007, the Company made the transition to preparingfinancial statements in accordance with the International Financial ReportingStandards ("IFRS"), as adopted by the European Union. Accordingly, theseinterim statements reflect the assumptions made by the Board about the standardsand interpretations expected to be effective, and the policies expected to beadopted, when the Company issues its first complete set of IFRS financialstatements for the year ending 30 June 2008. The unaudited results of our activites during the period ended 31 December 2007show a loss before taxation of £248,239 (2006 as adjusted, a loss of £224,034). Andrew BellExecutive Chairman 31 March 2007 Income statement Company Group Group 6 months to 6 months to Year to 31 December 31 December 30 June 2007 2006 2007 Unaudited Unaudited Unaudited £ £ £Income Turnover - - 535,416Cost of sales - - (184,970)Management services 3,133 - - Gross profit 3,133 - 350,446 Exploration expenses (84,970) (93,242) (245,207)Administrative expenses (190,861) (143,317) (415,343)Currency (loss)/gain (417) 926 18,038 Operating loss (273,115) (235,633) (292,066) Share of operating loss in associates (15,164) (548) (612)Surplus on revaluation of trade investments 175,369 16,369 66,611(Loss)/profit on sale of trade investments (49,375) 745 745Loss on revaluation of associate company investment (42,260) - -Interest receivable 12,177 193 7,170Interest payable (3,260) (250) (5,579) Loss on ordinary activities before taxation (195,628) (219,124) (223,731) Tax on loss on ordinary activities (52,611) (4,911) (19,983) Loss after taxation (248,239) (224,035) (243,714) Loss per share - see note 3Basic (0.10) pence (0.13) pence (0.13) pence Statement of recognised income and expense Company Group Group 6 months to 6 months to Year to 31 December 31 December 30 June 2007 2006 2007 Unaudited Unaudited Unaudited £ £ £Deficiency on revaluation of associated companyinvestments (84,520) - -Loss for the financial period (248,239) (224,035) (243,714) Total recognised income and expense for the (332,759) (224,035) (243,714)financial period Balance sheet Company Group Group 31 December 31 December 30 June 2007 2006 2007 Unaudited Unaudited Unaudited £ £ £AssetsNon-current assetsInvestments in associates 517,594 25,702 25,638 Current assetsCash and cash equivalents 644,379 46,214 220,347Trade and other receivables 439,645 136,881 1,080,013Trade investments 1,115,568 96,744 586,459Exploration properties 485,245 936,365 935,353 Total current assets 2,684,837 1,216,204 2,822,172 Total assets 3,202,431 1,241,906 2,847,810 Current liabilitiesTrade and other payables (258,349) (257,604) (293,609) Non-current liabilitiesDeferred taxation (72,594) (4,911) (19,983) Total liabilities (330,943) (262,515) (313,592) Net assets 2,871,488 979,391 2,534,218 EquityCalled up share capital 256,481 171,698 235,481Share premium account 3,143,236 1,237,344 2,665,486Share option reserve 82,581 - 82,581Revaluation reserve (84,520) - -Retained losses (526,290) (429,651) (449,330) Total equity 2,871,488 979,391 2,534,218 Cash flow statement Company Company Group 6 months to 6 months to Year to 31 December 31 December 30 June 2007 2006 2007 Unaudited Unaudited Unaudited £ £ £ Cash flows from operating activitiesOperating loss (273,115) (235,633) (292,066)(Increase)/decrease in debtors (224,632) (110,465) (188,597)(Decrease)/increase in creditors (35,259) (5,813) 255,192Impairment of exploration properties 26,401 38,654 121,989Exploration property sales other than for cash - - (416,400)Purchase of trade investments (353,739) (80,375) (103,448)Proceeds of trade investment sales - 16,236 16,236Exploration property costs (67,815) - (260,493)Costs of exploration properties disposed of - - 168,919Share based payments - - 82,581Currency adjustments (7,733) (2,729) 6,521 Cash (outflow) generated from operations (935,892) (380,125) (609,566) Cash outflows from investing activitiesInterest received 12,177 193 7,170Interest paid (3,260) (250) (5,579)Purchase of associate company investments (633,900) - - Net cash flows used in investing activities (624,983) (57) 1,591 Acquisitions and disposalsSale of subsidiary 632,400 - -Cash disposed of on sale of subsidiary (11,243) - - Net cash flow from acquisitions and disposals 621,157 - - Cash inflows from financing activitiesProceeds from issue of shares 525,000 100,375 1,664,375Transaction costs of issue of shares (26,250) - (72,075)Share subscription monies/(outstanding) 865,000 - (865,000)Short term loans - 225,000 -Net cash flows from financing activities 1,363,750 325,375 727,300 Net increase in cash and cash equivalents 424,032 (54,807) 119,326 Cash and cash equivalents at the beginning of 220,347 101,021 101,021periodCash and cash equivalents at end of period 644,379 46,214 220,347 Consolidated statement of changes in equityFor the period ended 31 December 2007 Share Share Share Revaluation option Retained capital premium reserve reserve earnings Total equity £ £ £ £ £ £ At 1 July 2006 166,679 1,141,988 - - (205,616) 1,103,051 Loss for the period - - - - (224,035) (224,035)Issue of shares 5,019 95,356 - - - 100,375Share issue expenses - - - - - - At 31 December 2006 171,698 1,237,344 - - (429,651) 979,391 At 1 July 2006 166,679 1,141,988 - - (205,616) 1,103,051 Loss for the period - - - - (243,714) (243,714)Issue of shares 68,802 1,595,573 - - - 1,664,375Share issue expenses - (72,075) - - - (72,075)Share payment reserve - - - 82,581 - 82,581 At 30 June 2007 235,481 2,665,486 - 82,581 (449,330) 2,534,218 Loss for the period - - - - (248,239) (248,239)Issue of shares 21,000 504,000 - - - 525,000Share issue expenses - (26,250) - - - (26,250)Revaluation reserve - - (84,520) - - (84,520)Disposal of subsidiary - - - - 171,279 171,279 At 31 December 2007 256,481 3,143,236 (84,520) 82,581 (526,290) 2,871,488 Half-yearly report notes 1. Company and Group As at 31 December 2007, the Company had no operating subsidiaries and therefore has not prepared Group financial statements. As at 31 December 2006 and 30 June 2007, the Company had an operating subsidiary which became dormant shortly before its sale on 6 August 2007. The Company will report again for the year ending 30 June 2008. 2. Accounting policies Accounting policies adopted under IFRS These interim financial statements have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS"). The basis of preparation and accounting policies used in preparing the interim statements for the six months ended 31 December 2007 are set out below. The basis of preparation describes how IFRS has been applied under IFRS 1, the assumptions made by the Company about the Standards and interpretations expected to be effective and the policies expected to be adopted when the Company issues its first complete set of IFRS financial statements for the year ending 30 June 2008. Statement of compliance This consolidated financial information of Red Rock Resources plc is prepared in accordance with IFRS as adopted by the European Union with the exception of IAS 34 "Interim Financial Reporting". Basis of preparation The consolidated financial information has been prepared in accordance with accounting policies which will be adopted in presenting the full year annual report and financial statements. The full year annual report and financial statements will be prepared for the first time in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. As at 31 December 2007, the Company did not have any operating subsidiaries although it had one as at 30 June 2007 and expects to have others in future. The Company has applied IFRS for the six month period ended 31 December 2007, with comparative figures for the six month period ended 31 December 2006 also prepared under IFRS as adopted by the European Union. In preparing this consolidated financial information, the Group has elected to take advantage of provisions within IFRS 1"First-time adoption of International Financial Reporting Standards" ("IFRS 1"), which offer certain exemptions from applying IFRS to the opening IFRS balance sheet prepared at 1 July 2006. In particular: • IFRS 3, "Business Combinations", has not been applied retrospectively to business combinations that occurred prior to 1 July 2006; • IFRS 2, "Share-based payment", has not been applied to equity instruments that were granted on 4 August 2005 and lapsed on 31 December 2006. The interim financial information is unaudited and does not constitute statutory financial statements within the meaning of section 240 of the Companies Act 1985. The Group's statutory consolidated financial statements for the year ended 30 June 2007 were presented under UK GAAP, and have been delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified and did not contain a statement under section 237 (2) or (3) of the Companies Act 1985. Comparative figures for the year ended 30 June 2007 presented here are abridged and non-statutory, have been adjusted to reflect the transition to IFRS and are unaudited. The consolidated financial statements have been prepared on a historical cost basis, except for derivative financial instruments, available for sale investments and intangible assets acquired in a business combination, which have been measured at fair value. The consolidated financial statements are presented in sterling ("GBP") and all values are rounded to the nearest pound except where stated. Significant accounting policies The accounting policies adopted in the preparation of the interim financial statements will be consistent with those that will be followed in the preparation of the Company's annual financial statements for the year ending 31 June 2008. 3. Loss per share 6 months to 6 months to Year to 31 December 31 December 30 June 2007 2006 2007 Unaudited Unaudited Unaudited £ £ £ These have been calculated on a loss of: (248,239) (224,034) (243,714) The weighted average number of shares used was: 240,046,050 170,933,777 188,227,158 Share options were not dilutive during the period. Basic loss per share: (0.10) pence (0.13) pence (0.13) pence 4. Transition to IFRS The financial information for the six months ended 31 December 2006 and the opening balance sheet at 1 July 2006 have been prepared in accordance with International Financial Reporting Standards (IFRS) for the first time. The Company's transition date to IFRS is 1 July 2006. The rules for first-time adoption of IFRS are set out in IAS 1 'First time adoption of international reporting standards'. In preparing the IFRS financial information, these transition rules have been applied to the amounts reported previously under generally accepted accounting principles in the United Kingdom ('UK GAAP'). IFRS generally requires full retrospective application of the Standards and Interpretations in force at the first reporting date. However, IFRS 1 allows certain exemptions in the application of particular Standards to prior periods in order to assist companies with the transition process. • Changes in presentation of financial information: o IAS1: The form and presentation of the UK GAAP statements has been changed to be compliant with IAS 1. o IAS 7: Cash flows under IFRS are presented within the Cash Flow Statement under three main headings: cash flows from operating activities, from investing activities and from financing activities. This has resulted in some presentational changes compared to UK GAAP. There is no change to the net movement of cash and cash equivalents. • Changes in accounting policies: o IAS 12: Under UK GAAP, deferred tax was recognised on the basis of timing differences, subject to certain exemptions. Under IAS 12, deferred tax is recognised on the basis of taxable temporary differences, subject to certain exceptions. Temporary differences include all timing differences and many permanent differences. This change has had no effect on any of the figures reported. o Under IAS 39, the trade investments which are deemed to be held for short term gain are taken to the profit and loss account at fair value as opposed to being held at historical cost under UK GAAP. o Under IAS 39, the trade investments which are not held for short term gain and are categorised as 'available-for-sale' financial assets are restated at fair value on the balance sheet date as opposed to being held at historical cost under UK GAAP. The gain or loss on revaluing the asset is held under a 'financial asset revaluation reserve' in Capital and Reserves. The changes arising are included in the restatements for IFRS. o Company has chosen to adopt IFRS 3. Accordingly, business combinations from the date of transition will be accounted for under IFRS 3 using the purchase method. • Reconciliations of UK GAAP to IFRS: o For the period ended 31 December 2006 and year ended 30 June 2007 there are differences between the income statement and balance sheet amounts reported under UK GAAP and IFRS as noted on the following pages. In addition, there are differences under UK GAAP and IFRS for the opening balance sheet at 1 July 2006 on transition. o There is no monetary impact on the cash flow statement for these periods. 5. Disposal of subsidiary and acquisition of associate On 6 August 2007, the Company completed the sale of its uranium asset subsidiary, Orion Exploration Pty Limited to Retail Star Limited, a company quoted on the Australian Stock Exchange. The consideration for the sale amounted to AUD1.5m cash; the cash consideration was funded by the Company subscribing for 80m fully paid ordinary shares in Retail Star Limited at AUD0.015, 20m options at AUD0.01 per option and 20m A Performance Shares in Retail Star Limited. The Company also received 30m B Performance shares and 30m C Performance shares in Retail Star Limited; these will convert into ordinary shares upon the achievement of certain agreed objectives. The 80m shares received then amounted to 15.6% of the issued share capital of Retail Star Limited. The Company's chairman, Andrew Bell, has become chairman of Retail Star Limited. The conditions for the conversion of 20m A performance shares were not satisfied; the attributable cost has been written off in full during the period. The exercise price for the options over 20m new shares is AUD0.025 whereas the mid market price of Retails Star Limited shares as quoted on 31 December 2007 was AUD0.015 per share. Accordingly, the attributable cost has been charged to a revaluation reserve. The directors of Retail Star Limited include Andrew Bell, Chairman of Red Rock Resources Limited (the "Company") and one other employee of Regency Mines plc, an associate company of the Company. Accordingly, the Company is considered to have significant influence over the conduct of Retail Star Limited which is therefore accounted for as an associate of the Company. 6. Market values of investments As at 31 December 2007, the market values of publicly quoted investments were as follows: • Associate company investments: £667,584 (book value £517,594) • Trade investments: £1,102,540 (book value £1,102,540) 7. Restatement of reported figures Company financial information as at 1 July 2006 As originally Restate per Restate for IFRS reported under note 8 IFRS UK GAAP £ £ £ £Balance sheetNon-current assetsIntangible assets 972,290 (972,290) - -Investments in associates 26,250 - - 26,250 Total non-current assets 998,540 (972,290) - 26,250 Current assetsCash and cash equivalents 101,021 - - 101,021Trade and other receivables 26,416 - - 26,416Available for sale financial assets 15,491 - - 15,491Exploration properties - 972,290 - 972,290 Total current assets 142,928 - - 1,115,218 Total assets 1,141,468 - - 1,141,468 Current liabilitiesTrade and other payables (38,417) - - (38,417) Total liabilities (38,417) - - (38,417) Net assets 1,103,051 - - 1,103,051 Capital and reserves -Share capital 166,679 - - 166,679Share premium account 1,141,988 - 1,141,988Retained losses (205,616) - (205,616) Total equity 1,103,051 - - 1,103,051 As originally Restate per Restate for IFRS reported under note 8 IFRS UK GAAP £ £ £ £Balance sheetNon-current assetsIntangible assets 936,365 (936,365) - -Investments in associates 26,250 - (548) 25,702 Total non-current assets 962,615 (936,365) (548) 25,702 Current assetsCash and cash equivalents 46,214 - - 46,214Trade and other receivables 136,881 - - 136,881Trade investments 80,375 - 16,369 96,744Exploration properties - 936,365 - 936,365 Total current assets 263,470 - 16,369 1,216,204 Total assets 1,226,085 - 15,821 1,241,906 Current liabilitiesTrade and other payables (257,604) - - (257,604) Non-current liabilities Deferred taxation - - (4,911) (4,911) Total liabilities (257,604) - (4,911) (262,515) Net assets 968,481 - 10,910 979,391 Capital and reservesShare capital 171,698 - - 171,698Share premium account 1,237,344 - - 1,237,344Retained losses (440,561) - 10,910 (429,651) Total equity 968,481 - 10,910 979,391 As originally Restate for IFRS reported under IFRS UK GAAP £ £ £Income statementTurnover 16,236 (16,236) -Direct costs (15,491) 15,491 - Gross profit 745 (745) - Exploration expenses (93,242) - (93,242)Administrative expenses (143,317 - (143,317)Currency loss 926 - 926 Operating loss (234,888) (745) (235,633) Share of operating loss in associate - (548) (548)Surplus on revaluation of financial assets - 16,369 16,369Profit on sale of trading asset investment - 745 745Interest receivable 193 - 193Interest payable (249) (1) (250) Loss on ordinary activities for the period (234,944) 15,822 (219,124) Deferred taxation provision - (4,911) (4,911) Loss after taxation (234,944) 10,911 (224,035) As originally Restate for IFRS reported under IFRS UK GAAP £ £ £Balance sheetNon-current assetsInvestments in associates 26,250 (612) 25,638 Total non-current assets 26,250 (612) 25,638 Current assetsCash and cash equivalents 220,347 - 220,347Trade and other receivables 1,080,013 - 1,080,013Trading asset investments 513,900 72,559 586,459Exploration properties 935,353 - 935,353 Total current assets 2,749,613 72,559 2,822,172 Total assets 2,775,863 71,947 2,847,810 Current liabilitiesTrade and other payables (293,609) - (293,609) Non-current liabilitiesDeferred taxation - (19,983) (19,983) Total liabilities (293,609) (19,983) (313,592) Net assets 2,482,254 51,964 2,534,218 Capital and reservesShare capital 235,481 - 235,481Share premium account 2,665,486 - 2,665,486Share option reserve 82,581 - 82,581Financial asset revaluation reserve (5,948) 5,948 -Retained losses (495,346) 46,016 (449,330) Total equity 2,482,254 51,964 2,534,218 As originally Restate for IFRS reported under IFRS UK GAAP £ £ £Income statementTurnover 551,652 (16,236) 535,416Cost of sales (200,461) 15,491 (184,970) Gross profit 351,191 (745) 350,446 Exploration expenses (245,207) - (245,207)Administrative expenses (415,343) - (415,343)Currency gains 18,038 - 18,038 Operating loss (291,321) (745) (292,066) Share of operating loss in associate - (612) (612)Surplus on revaluation of financial assets - 66,611 66,611Profit on sale of financial asset - 745 745Interest receivable 7,170 - 7,170Interest payable (5,579) - (5,579) Loss on ordinary activities for the period (289,730) 65,999 (223,731) Taxation provision - (19,983) (19,983) Loss after taxation (289,730) 46,016 (243,714) 8. Restatement of reported figures - notes: During 2007, exploration properties previously reported as intangible fixed assets, were reclassified and reported as current assets. This correction has now been applied as at 30 June 2006 and 31 December 2006. Copies of this half-yearly report are available free of charge by application inwriting to the Company Secretary at the Company's business office, 115Eastbourne Mews, Paddington, London W2 6LQ, or by email toadmin@regency-mines.com. Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc ChairmanJohn Simpson 020 7512 0191 Blomfield Corporate Nominated Adviser Finance Ltd Ron Marshman / 020 7628 5518 City of London Public RelationsJohn Greenhalgh PR Limited Updates on the Company's activities are regularly posted on Red Rock's website,www.rrrplc.com. This information is provided by RNS The company news service from the London Stock Exchange