Andrew Bell, Chairman of Red Rock comments: “We spent many millions exploring these licenses and producing an initial 1.2m oz Mineral Resource under the JORC Code at the beginning of the decade. Our activity on the ground in gold exploration was second to none in its commitment, speed, and extent, and went so far as applying for a Mining License on one area.
It was a disappointment and we believed an injustice to us that external factors then created obstacles in the way of following up this progress.
This settlement we hope will open the way to renewed progress towards our aim, which is to have a producing gold mine. Our desire, and that of the authorities and local communities, is to see work towards this recommence without delay.
Red Rock Resources Plc, the natural resource investment and development company, announces, further to its announcement of 15 June 2018, an update in relation to the legal proceedings instituted by Red Rock and its local partner (the “Applicants”) in May 2015 against the Ministry of Mining in Kenya.
A Consent has been signed on behalf of the Attorney General and the Company and is being filed with the court. Under the terms of the Consent, the parties have agreed that the case be marked as withdrawn with no order as to costs, that the Applicants are at liberty to apply for licenses under section 225(6) of the Mining Act 2016, and that previous decisions will not be prejudicial to such applications.
The Company welcomes this settlement and has caused the appropriate applications to be made.
