Red Rock Resources plc - (AIM ticker: RRR)
website: www.rrrplc.com



2009
Red Rock, in which Regency Mines holds a 30% interest, operates as a mineral exploration and development company, focusing on manganese, iron ore and gold properties in Australia, Kenya and Zambia. In addition, it has a 27% interest in Resource Star Ltd, expected to be re-admitted to ASX soon, to which it sold its uranium portfolio in exchange for shares and effective management control.

The hugely significant event of the last year has been the joint venture with Pallinghurst which has taken control of ASX quoted Jupiter Mines Limited to which Red Rock has disposed of its iron ore property interests consisting of the highly prospective Mt Alfred in Western Australia. In turn, POSCO of South Korea has taken a stake in Jupiter where Red Rock is the largest shareholder with 25% having a current market value of A$18m.
More recently Red Rock has again shown its deal making expertise with the acquisition of interests in the greenstone belt of south west Kenya where it is expecting to develop a gold extraction project.

2008
Red Rock, in which Regency Mines holds a 37.7% interest, operates as a mineral exploration and development company, focusing on manganese, iron ore and gold properties in Australia and Zambia. During 2007, its uranium portfolio was sold to Retail Star Ltd, since renamed Resource Star Limited (RSL), in exchange for shares, a deal that gave it an initial 15% interest in RSL and effective management control of the RSL board, as well as access to RSL’s cash resources to enable continuing exploration work on its former properties. Red Rock’s principal manganese interests are centred on its 695 sq. km. tenements in the East Pilbara province in Western Australia and on Chiwefwe in Zambia, where the first phase of an exploration programme has established an indicated resource of 2.3 million tones of high grade manganese and where further drilling and exploration are under way. The iron ore property interests consist of the highly prospective Mt Alfred in Western Australia and others in the Northern Territory and Tasmania. Uranium licences are held in Australia’s Northern Territories, while gold prospects are held in Oakover and Tasmania. Red Rock’s portfolio and its readiness to exchange assets for equity interests at the right price seems likely to see more deals in the offing.

2007
Red Rock, in which Regency Mines holds a 43.5% interest, operates as a mineral exploration and development company focusing on manganese, iron ore and gold and hopes to move to early bulk production and sales of manganese from its high grade Zambian resource. Two of its high grade iron ore properties in Western Australia have been farmed out in an option/royalty agreement with Jupiter Mines, although its nearby Mt Alfred property has been retained. It also has tenements in the Northern Territory of Australia containing further iron ore mineralisation and manganese targets.

It has recently disposed of its Australian and Malawi uranium interests to Retail Star Limited (ASX: RSL) for shares equivalent to 15.6% of Retail Star with options to increase which suggests a readiness to exchange assets for equity interests at the right price. Its wide portfolio suggests that it is well placed to benefit from rising commodity prices.