Business
Update and Result of Meeting
Update and Result of Meeting.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 2759B Red Rock Resources plc 15 February 2011 \n \n\nRED ROCK RESOURCES PLC\nUpdate and Result of Meeting\n \nDated: 15 February 2011\n \nRed Rock Resources plc (\"Red Rock\" or the \"Company\"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed, uranium, and rare earths reports on developments.\n \nKenya\nIn October 2010, CSA Global Ltd (\"CSA\") and the Company finalised drilling programmes to test, validate and extend the current resource targets, and to investigate potential further targets. A drill programme to test copper-gold VMS target will also take place shortly.\n \nLocal drilling companies began drilling before the New Year, and diamond, reverse circulation, and air core drills brought into the country are expected to be coming into operation in stages from the end of this week. This will speed up the programmes in order to complete them as far as possible before the beginning of the rains.\n \nThe results from stage 2 of the metallurgical testwork on the Macalder tailings are awaited.\n \nColombia\nCustoms delays, followed by a nationwide strike by the transport industry, have caused late delivery of a small number of essential parts for the agitators for the larger flotation cell unit. This has caused a temporary halt to the scaling up of production. Once parts are delivered, production can increase. Meanwhile, the mine at El Limon is operating two shifts, and the crushers and conveyors are operating satisfactorily. The ball mill has been run at 24 hours a day, as have the jig, pumps, and other elements of the plant.\n \nMaterial processed is 6 g/t, and some 450 tons of this material remains in silo. Material mined is grading 12-15 g/t and improving, but the decision was to process lower grade material until the plant is running smoothly in all respects.\n \nThe Machuca mine is now in operation, and initial production is at about 20 tpd at a grade of 6 g/t.\n \nThe Company has agreed in principle the early exercise of its option over a majority of the share capital of its partner Mineras Four Points SA (\"MFP\"), at a reduced initial cost, with remaining payments related to the achievement of key targets, and will make a further announcement shortly. This will enable the Company to t...