09:08 Thu 09 Aug 2018
Rockfire Resources - Accelerated Exploration Financing and Joint Broker
("Rockfire", "ROCK" or the "Company")
Accelerated Exploration Financing and Joint Broker
Highlights:
· ROCK has conducted the Placing at zero discount to market price (on the day Placing was conducted) to aggressively pursue plans for drilling multiple targets at its
· The Company has raised gross proceeds of
· All of the raising proceeds (less costs) are being allocated to accelerate drilling campaigns at the
· Rockfire has appointed 30-year old
"The drilling planned at Marengo is particularly exciting as geophysics demonstrates likely alteration surrounding a potential intrusion. Should this intrusion or the surrounding alteration contain gold and/or copper, the system would represent a new discovery.
"We look forward to making further announcements to the market as the anticipated drilling is carried out."
Accelerated Exploration Campaign
Rockfire Resources has raised additional funds to accelerate it's exploration of all three projects in
At Double Event, historical workings, high-grade rock samples and high-resolution ground magnetics have outlined a second target at the western extremity of a 3km-long mineralised trend. Drilling is planned to test this section of the trend and add to the mineralisation encountered in
Copperhead is a large-scale porphyry copper deposit with historical drilling which encountered visible copper minerals over depths to 300m below surface. Geophysics (gradient array IP) is planned to see if any chargeable or resistive responses are evident in the vicinity of the drilling.
Placing
The Company has raised gross proceeds of
The Placing incorporates the issue of warrants to subscribe for 10,000,000 new Ordinary Shares at an exercise price of
The Placing Shares and Placing Warrants will be issued under the existing authorities approved by shareholders of the Company at the last Annual General Meeting of the Company. . Application will be made for these New Ordinary Shares to be admitted to trading on AIM, which is expected to take place on or around
Appointment of Broker
The Company has appointed a new joint-corporate broker -
Total Voting Rights
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Enquiries:
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Eml: david@rockfireresources.com
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Cenkos Securities plc (Nominated Adviser & Joint Broker)
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Tel: +44 (0)131 220 6939
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(Joint Broker) |
Tel: +44 (0)20 7374 2212 |
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