Business
West African Gold Licences - Update
West African Gold Licences - Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n\nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\n \nWest African Gold Licenses - Update\n \n28 November 2023\n \nRed Rock Resources Plc, the natural resource exploration and Development Company with interests in gold, copper, cobalt, lithium and other minerals, announces an update to the announcements of 16th June 2023, 8th March 2023 and 18th October 2021 in relation to the Company's operations in Côte d'Ivoire.\n \nKey points:\n \n· Decree issued granting second licence to Red Rock subsidiary LacGold Resources SARLU\n· Initial licence term of 4 years\n· Licence covers 380.94 sq Km in the departments of Yamoussoukro and others\n· One of four Red Rock applications totalling 1,404.86 sq km in an area south of the capital, Yamoussoukro\n· Granted licences now total 725.44 sq km of prospective gold ground\n· Three more applications licenses in the north of the country about 1,122.88 sq km\n· Each application is located on a known regional shear zone where gold mines are operating\n· Each application has significant artisanal mining occurring within and around it\n\nRed Rock Chairman Andrew Bell comments: \"With the grant of a second licence yesterday we now have critical mass in our licence application areas in the gold province centred around Yamoussoukro.\n \nWe regard the granted licences, and those still in process of grant, as being licences with good gold potential. We have already received an expression of interest from a company wishing to discuss co-operation or a transaction, and expect further interest.\n \nThe Government expects expenditure averaging some $280,000 p.a. over a four year period. We have already incurred some $65,000 of costs, and expect to carry out a modest first year programme focussed on examining opportunities for an early move into production. Should opportunities arise for accelerating development or increasing the scale of operations, a variety of funding options are under consideration..\"\n \nFurther Information on granted projects in Côte d'Ivoire. This information can all be found in previous announcements, and is set out here for convenience. Previous announcements also include information on licenc...