Business
Half-year Report
Half-year Report.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n\n \n\n \n31 March 2025\n \n \nRed Rock Resources plc\nUnaudited half-yearly results for the six months ended 31 December 2024\n \nRed Rock Resources plc (\"Red Rock\" or \"the Company\"), the natural resources investment, exploration, and development company with interests in manganese, gold, copper and cobalt, and other materials, announces its half-yearly results for the six months ended 31 December 2024.\n \nChairman's Statement\n \nThe statement we released with the Final Results for the year to 30th June 2024, and the statement released with the interim results a year ago, tell a story, in relation to our interests in the DRC, that is consistent but has still not advanced to the anticipated conclusion.\n \nIn the DRC some local parties expected to take the benefits of sale of our majority owned copper-cobalt asset through a disposition of which we were unaware. We challenged this, and as we have comprehensive records to support our position have always assumed that we would eventually prevail. We had early victories in court cases relating to the $5,000,000m already paid and our share thereof, and then went to arbitration in relation to our share of the $15,000,000 still held on behalf of the vendors by the buyer.\n \nWe are now at the point where the judgement is near the point of publication, and retain the same degree of confidence. Because of the slowness of procedures in Kinshasa, we are not writing today the report we expected to be writing, but the management of the Company is every day pursuing the matter with all possible commitment and assiduity.\n \nThe direct consequences of a favourable outcome in the DRC would be potentially large in relation to the current value of the Company. The indirect consequences, in the form of opening the door to further proceedings, could also be large. It is also likely that our ability to work on high level projects in the DRC would be enhanced, and our ability to advance other projects of the Company would become greater.\n \nConversely, a failure, or a further long delay, in the DRC, neither of which appear likely to the management, would leave the Company's short term finances under significant strain as the level of current liabilities now reflects the expectation of an early award. Immediate action would have to be tak...