Key Developments: Red Rock Resources PLC (RRR.L)
0.49GBp
20 May 2013
0.05p (+11.36%)
0.44p
0.44p
0.55p
0.42p
26,870,392
8,336,828
2.49p
0.38p
Latest Key Developments (Source: Significant Developments)
Red Rock Resources PLC Announces Placement Of Shares
Red Rock Resources PLC announced that it has placed 48,000,000 new ordinary shares of 0.1p each (the Ordinary Shares) at a price of 0.625 of a penny per share to raise GBP300,000 before expenses (the Placing). Full Article
Red Rock Resources PLC Announces Issue Of Equity To YA Global Master SPV, Ltd
Red Rock Resources PLC announced that on March 8,2013, YA Global Master SPV, Ltd. (YA Global), which is advised by Yorkville Advisors LLC (Yorkville), subscribed for and was issued 26,388,009 ordinary shares of 0.1 pence each (Shares) in the Company under the terms of the Standby Equity Distribution Agreement (SEDA) between Red Rock and YA Global as announced on 14 December 2010, at a price of 0.9474 pence per Share (the Subscription). The gross proceeds of the Subscription are GBP250,000, conditional on the Shares being admitted to trading on AIM. Full Article
Red Rock Resources PLC Announces Issue Of Equity And Placement Of Shares
Red Rock Resources PLC announced that it has issued in aggregate 58,532,490 new ordinary shares at an average price representing GBP0.010422 (the New Shares), representing approximately 5.07% of the Company's issued share capital to raise in aggregate GBP610,000 excluding fees. Full Article
Red Rock Resources PLC Announces Placement Of Shares
Red Rock Resources PLC announced that it has placed 60,000,000 new ordinary shares of 0.1p each, with institutional and private clients, representing approximately 5.52% of the Company's issued share capital at a price of 1.0 pence per share to raise GBP600,000 gross. Credit Suisse Nominees (UK) Ltd has subscribed for 23,000,000 new ordinary shares (and will hold 6.26% of the Company's issue shared capital upon completion of the placing), with other placees holding the balance. Investors participating in the placing shall be entitled to receive one-third of a warrant for each ordinary share entitling the warrantholders to subscribe for a maximum of 20,000,000 ordinary shares at an exercise price of 1.5 pence over a subscription period of eighteen months. The net proceeds of the Placing will be applied towards two objectives. GBP335,000 will be utilized toward part redemption of the Company's Secured Loan Notes 2013, and the balance will be utilized by the Company for working capital purposes. This will leave the residual value of the Secured Loan Notes 2013 at GBP956,654 with an ultimate repayment date of July 15, 2013. Thirty days written notice is to be given to loan note holders immediately, and the repayment will occur in mid-January 2013. Full Article
Red Rock Resources PLC To Acquire NAMA Greenland Ltd
Red Rock Resources PLC announced that it has received an offer (subject to due diligence and contract, and any necessary Red Rock shareholder consent) from International Media Projects Ltd. ("IMP"), a private British Virgin Island based company, on behalf of its industrial partner ("the Investor"), to acquire 51% of the outstanding share capital ("the Offer") of NAMA Greenland Ltd. ("NGL"), which holds direct ownership of the Melville Bugt Iron Ore project ("the Project") in Greenland. The total consideration of the Offer is a USD17.75 million cash payment, and is being made on the same terms to Red Rock and all shareholders of NGL, so that on completion, the Investor would directly and indirectly own a 51% interest in the shares of NGL. The Investor also agrees to carry the first USD2 million of further capital required by NGL for completion of the proposed 2013 work programme, after which shareholders in NGL may elect to finance additional work pro rata to their shareholdings. A mine mouth royalty of 2% of the value of the ore produced will be payable to the selling shareholders pro rata to their acceptance of the Offer. Further, a commission of 5% of consideration received under the Offer will be payable by accepting shareholders to IMP. Closing is currently scheduled to take place on January 10, 2013 or, if earlier, on the conclusion of due diligence. Full Article
Red Rock Resources PLC Announces Issue Of Equity
Red Rock Resources PLC announces that it has placed 60,000,000 new ordinary shares of 0.1p each with institutional and private clients, representing approximately 5.8% of the Company's issued share capital at a price of 1.0 pence per share to raise GBP600,000. Credit Suisse Nominees (UK) Ltd. will hold 4.385% of the Company's issue shared capital upon completion of the placing, with other placees holding the balance. Along with the Placing, investors shall be entitled to receive one-third of a warrant for each ordinary share entitling the warrantholders to subscribe for a maximum of 20,000,000 ordinary shares at an exercise price of 1.5 pence over a subscription period of 18 months. Full Article
Red Rock Resources PLC Announces Proposed Disposal Of Interest In Four Points Mining SAS
Red Rock Resources PLC announced that it has received a proposal (subject to due diligence and definitive agreement) from Ashmont Resources Corporation (Ashmont), a private Canadian company, to acquire Red Rock's wholly owned subsidiary, American Gold Mines Ltd, which holds a 50.5% interest in Four Points Mining SAS (FPM), (Proposal). FPM is the owner of the El Limon and El Mango mines in Antioquia, Colombia. The Proposal is being made on the same terms to the other shareholders of FPM (together with Red Rock, the Vendors), so that on the completion, Ashmont would directly and indirectly own a 100% interest in the shares of FPM. The Proposal is in the form of a Letter of Intent accepted by the Vendors yesterday which sets out the basic terms and conditions on which the parties are willing to negotiate and enter into a definitive agreement. There can be no certainty that the parties will enter into a definitive contract. The Proposal is subject to due diligence, which is currently being carried out, and the signing of a definitive agreement. The Company will make further announcements in due course. Full Article
Red Rock Resources PLC Increases Stake In Resource Star Limited
Resource Star Limited announced that Red Rock Resources PLC has increased its stake in the Company from 11,995,486 ordinary shares (21.07% of the voting power) to 40,929,591 ordinary shares (41.40% of the voting power). Full Article
Red Rock Resources PLC Announces Issue Of Equity
Red Rock Resources PLC announced that it has placed 39,269,231 new ordinary shares of GBP0.001 each (the Ordinary Shares) at a price of GBP0.026 per share to raise GBP1,021,000 before expenses the (Placing). The net proceeds of the Placing will be applied towards assuring funding is in place to meet commitments for the upcoming exploration season in Greenland and for pursuit of investment opportunities that may arise that match the Company's investment criteria. Full Article
Red Rock Resources Plc Announces Issue of Equity
Red Rock Resources Plc announced that YA Global Master SPV, Ltd. which is advised by Yorkville Advisors LLC, has subscribed for 27,215,148 new ordinary shares of GBP0.001 each in the Company under the terms of the Standby Equity Distribution Agreement (SEDA) between Red Rock and YA Global, at a price of 0.02689 per Share. The proceeds of the Subscription are GBP731,851, conditional on the Shares being admitted to trading on AIM. The net proceeds of the Subscription are being applied to repayment of loans and on-going working capital requirements. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
