Red Rock Resources plc is listed on London’s AIM market (AIM: RRR). The principal activities of Red Rock Resources plc ("the Company" or "Red Rock") are gold exploration in Kenya, gold production in Colombia and iron ore exploration in Greenland. The Company’s iron ore interests are also held through its strategic holding in Jupiter Mines Limited (ASX:JMS).
Red Rock Resources plc was established in September 2004 to pursue mineral exploration opportunities. Initially these opportunities were located in Australia, in particular the Northern Territory and Western Australia, and were focussed on iron ore, manganese and later uranium. Over time the Company acquired more assets in central and eastern Africa, notably uranium properties in Malawi, gold in Kenya and Colombia, and most recently an iron ore asset in Greenland.
Red Rock's Initial Public Offering on the London Stock Exchange's AIM market was in July 2005. RRR has a history of maximising the value of its assets through exploration, team building and strategic alliances. In May 2006 Red Rock granted options over two of its iron ore tenements in Western Australia to Jupiter Mines Limited (ASX: JMS) and in 2009 with the Pallinghurst group it acquired control. Jupiter Mines, has since opened the Tshipi Borwa manganese mine in South Africa, one of the world's largest manganese, and with a life expectancy of 60+ years.
In 2009 Red Rock invested directly and indirectly in Mid Migori Mining Company Limited, the holders of a 68km Special Prospecting Licence on the Migori gold belt in south-west Kenya. In 2012, JORC resource estimates were completed at 0.5 g/t Au cut-off: 29.4 Mt @ 1.26 g/t Au with contained metal content of 1.193 MOz Au. A Mining Lease Application was submitted to the Kenyan government and is waiting for approval post-2013 election. A pit optimisation study has been completed, and a feasibility study is taking place in 2014.
An interest in an iron ore project in northwest Greenland was acquired in 2011. Field reconnaissance and exploration drilling took place in the summers of 2011 and 2012 respectively, with the result of a JORC Inferred Mineral Resource Estimate of 67 million tons (mt) magnetite at 31.4% Fe declared for the project in December 2012. The majority of Red Rock’s stake in the project is currently under offer.