Business
Summary of Gold Exposure
Summary of Gold Exposure.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4581S\n Red Rock Resources plc\n 16 November 2021\n \n \n \n \n Red Rock Resources PLC\n \n \n (\"Red Rock\" or the \"Company\")\n \n \n Summary of Gold Exposure\n \n \n \n \n \n 16 November 2021 \n \n \n \n \n \n Red Rock Resources Plc, the natural resource development company with interests in gold, copper/cobalt, and other minerals, summarises the exposure to gold which runs through its portfolio.\n \n \n Highlights\n \n \n • A JORC Indicated and Inferred Resource of 15.13 Mt @ 1.49 g/t Au with contained metal content of 723 koz in greenstones in Western license, Kenya\n \n \n • New exploration targets identified by recent work in Eastern license, Kenya\n \n \n • Significant new target zone identified in Western license, Kenya\n \n \n • A tailings deposit containing 68koz Au @ 1.7g/t Au in Kenya\n \n \n • A gold royalty over the producing El Limon mine in Colombia\n \n \n • 50.01% of Red Rock Australasia Pty Ltd, which is preparing to list its Victoria gold assets\n \n \n • Royalties over the Company's gold interests\n \n \n • A new gold exploration subsidiary in the greenstone belt of the Côte d'Ivoire\n \n \n • A new gold exploration subsidiary in the greenstone belt of Burkina Faso\n \n \n Diagram: Gold assets of Red Rock Resources PLC [INSERT FIGURE 1]\n \n \n \n Red Rock Chairman Andrew Bell comments\n \n : \"After reaching highs above $2000/oz in late Summer 2020, Gold has underperformed most other asset classes since, as it came back to consolidate around its breakout levels. There are now signs, with the better performance in the last month, that it is breaking this downtrend, in which case it may reach or exceed last year's highs in the next months.We have some confidence that fundamentals can support it at or around current levels.\n \n \n Since the larger part of the Company's interests are in gold, this is an appropriate moment to set out Red Rock's gold exposure across its projects, noting that the Company's gold interests in the African Greenstone Belts have recently extended with the submission of five license applications in the Côte d'Ivoire and the setting up of an operational subsidiary in Burkina Faso.\n \n \n Except in Australia, the projects are 100% beneficially owned by Red Rock.\n \n \n In the course of my recent visit, the manager of our Côte d'Ivoire subsid...