Business
Resource Star Ltd Update
Resource Star Ltd Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3523N Red Rock Resources plc 05 September 2013 \n\nRed Rock Resources plc\n(\"Red Rock\" or the \"Company\")\nResource Star Ltd - Update \n \n5 September 2013\nResource Star Ltd (ASX:RSL) (\"RSL\"), a 39% owned associate of the Company, issued two announcements to the Australian Stock Exchange today.\nFurther to Red Rock's announcement of 2nd August 2013, relating to a binding term sheet with Searex Petroleum (BVI) Limited (\"Searex\") for the acquisition of an oil project in Abilene, Texas, U.S.A., RSL has issued an update on due diligence and has also released a Presentation on the Texas project.\nFurther details of these announcements can be accessed on the ASX website:\nhttp://www.asx.com.au/asxpdf/20130905/pdf/42j5vbv9d1v86g.pdf\nhttp://www.asx.com.au/asxpdf/20130905/pdf/42j5vvctf0c08w.pdf\nRed Rock holds 46,908,584 shares in RSL, representing 38.6% of the total issued shares. Additionally, Red Rock is entitled to be issued a further 8,000,000 RSL shares on the exercise of AUD 100,000 Convertible Notes which have now been issued to Red Rock by RSL (including the 4,803,357 share entitlement referred to in the announcement of 2nd August 2013). \nRed Rock Resources Plc is a mining and exploration company with an iron ore project in Greenland, a producing gold mine in Colombia, and advanced gold and copper exploration in Kenya.\nRed Rock Chairman Andrew Bell comments: \"As stated by RSL, due diligence is going well so far and the due diligence team is on the ground in Texas. The opportunity is a most promising one that has the potential to transform RSL, and this first presentation, though necessarily partial at this stage, conveys some sense of that.\" \n \nEnquiries:\n\n\n\n\nAndrew Bell\n\n\n020 747 9990 or\n07766 474849\n\n\nRed Rock Resources plc\n\n\nChairman\n\n\n\n\nSandra Spencer\n\n\n020 747 9990 or\n07757 660 798\n \n\n\nRed Rock Resources plc\n\n\nPress Relations\n\n\n\n\nColin Aaronson\n\n\n020 7383 5100\n\n\nGrant Thornton\nUK LLP\n \n\n\nNominated Adviser\n \n\n\n\n\nNick Emerson\n\n\n01483 413500\n\n\nSI Capital Limited\n\n\nBroker\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCNKPDQQBKDOCK\n ","length":4032,"tagName":"div"}]