Business
Update - Colombia and Migori - Replacement
Update - Colombia and Migori - Replacement.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7808H Red Rock Resources plc 02 June 2011 \n \n\nRED ROCK RESOURCES PLC\nUpdate - Colombia and Migori - Replacement\nDated: 2 June 2011\n \nThe following replaces the \"Update - Colombia and Migori\" announcement released by Red Rock Resources plc on 2 June 2011 at 07:48 under RNS No 7312H. As previously released, that announcement referred to expected total gold production of approximately 4.4 kg in June. The month referred to should have been May and not June as previously announced.\nThe full amended text is shown below.\n \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 \nColombian operations\n \nProduction\n \nOre mined from the El Limon mine in Antioquia, Colombia in the week to 28 May 2011 fell to 47.2 tons per day, while ore processed through the plant fell to 38.4 tonnes per day. A principal reason was the death of an employee in a local incident apparently unrelated to his work, and the custom of all employees being given a day off for the funeral, which also led to 5 day working. After selling 707.3 grams of gold in the week to 7 May 2011, 727.32 grams of gold in the week to 14 May 2011, and 758.9 grams in the week to 21 May 2011, 1,069 grams were sold in the week. Further dore bars being delivered to the refinery are expected to result in a May total gold production of approximately 4.4 kg. \n \nThe Company's head of mining operations and development, the chief technology officer, and other executives are at the mine planning and implementing changes towards more efficient working practices, to include seven day working, better dilution control, partial mechanisation, improvements in metallurgical test work at each stage of production, and recruitment of mine geologists.\n \nDelivery of the first of two hydraulic shovels during June, and opening of new stopes, are expected to lead to significant short-term improvements over the coming weeks. The Company's 51 per cent. owned local subsidiary achieved operational break-even for part of the month of May, and the Company is now planning on the basis of cash flow break-even in June and operational profitability in July. Reports of go...