Last checked at 18 Mar 2011 07:00
RED ROCK RESOURCES PLC
Issue of Equity and Other Transactions
Dated: 18 March 2011
Red Rock Resources plc ("Red Rock" or the "Company") announces that North Atlantic Mining Associates Ltd ("NAMA"), with which the Company has entered into the Option and Earn-In Agreement announced on 3 March 2011, has subscribed for 333,530 new ordinary shares of 0.1 pence each ("Shares") in the Company at a price of 11.125 pence per Share (the "Subscription"). The proceeds of the subscription are £37,105 before expenses, conditional on the Shares being admitted to trading on AIM.
Following the Subscription, the Company's issued ordinary share capital will be 688,373,835 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 23March 2011.
Kansai Mining Corporation
The Company also announces that it has exercised on 11th March 2011, at a cost of C$10, the option over 29,629,000 existing shares in Kansai Mining Corporation ("Kansai" and "Kansai Shares") announced on 3 December 2009. The Kansai Shares were held by RAB Special Situations (Master) Fund Ltd, and amount to a pre-dilution interest of 28.9% of Kansai.
Following the acquisition of the Kansai Shares, Red Rock is now interested in a total of 39,629,000 Kansai shares, which it believes represent approximately 35.2% of Kansai's issued ordinary share capital on a diluted basis.
Nimrodel Resources Limited
The Company announced the sale of its interest in the Savage River mining tenement EL 11/2005 in Tasmania to Walkabout Resources Pty Ltd ("WR") and Resource Star Ltd on 14 January 2010. Further to Red Rock's announcement of 13 December 2010 and subsequent to the approval of the acquisition of WR by Nimrodel Resources Ltd (ASX:NMR, "NMR") at an NMR shareholders' meeting on 3 March 2011, new NMR shares to the value of A$300,000 have now been issued to Red Rock as a beneficiary of the transaction.
Enquiries:
Andrew Bell | 0207 402 4580 or 07766 474849
| Red Rock Resources plc | Chairman
|
Sandra Spencer | 0207 402 4580 or 07757 660 798 | Red Rock Resources plc | Public and Investor Relations
|
Peter Trevelyan-Clark/ Ben Jeynes
| 020 7444 0800 | Religare Capital Markets | Nominated Adviser |
Nick Emerson | 01483 413500 | Simple Investments Ltd | Broker |
Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.