Rockfire Resources - Company Update and Placing
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
("Rockfire", "ROCK" or the "Company")
Company Update and Placing
Following the appointment of the new CEO,
· Conducted multiple drilling campaigns at its Marengo and Double Event projects, increasing evidence of significant gold;
· Completed a geophysical appraisal and target delineation on the Company's Copperhead copper project;
· Secured the Kookaburra exploration permit, adding materially to the Company's already significant ground-holding in a renowned gold district that has produced more than 20 million ounces of gold and continues to produce from three operating mines;
· Added ground to ROCK's portfolio that immediately surrounds
· Executed an option to acquire another high-potential copper project - Copper Dome;
· Including the current Placing, over the past six months the Company has raised over
Rockfire now has the foundation of key management, highly prospective copper and gold assets and operational resource to enter ROCK's next phase and increase the velocity of its asset growth strategy.
To fund activities going forward, Rockfire has raised gross proceeds of
As part of the Placing, the Company's Chairman has subscribed for 8,823,530 Placing Shares and 8,823,530 Placing Warrants for a total of
"The Company underwent significant and necessary change last year and now as 'Rockfire Resources' is positioned to deliver significant asset growth during 2019. In addition to the development of our 100%-owned copper and gold assets in
"Whilst we are opportunistic when a new asset proves compelling, we are commited in our focus on building value in our portfolio through skilled project assessment, commercially-driven geological work, prudent expenditure and appropriate capital raisings. We have a talented team with the practical experience to drive our mining interests forward and I look forward to announcing news of progress across our current projects; Copperhead, Lighthouse, Kookaburra, Marengo, as well as the Copper Dome deposit under assessment for acquisition and any new opportunities as and when secured by our team."
"I would personally like to thank shareholders for their continued support throughout the last year as we transitioned and established the business model and identity of ROCK. We are now ready to increase our momentum as we undertake critical, vigorous and exciting exploration. Thank you to those individuals who participated in this Placing and we look forward to reporting further on our activities over coming weeks and indeed throughout the course of the new year."
Details of Placing
The Company is raising gross proceeds of
Completion of the Placing is conditional upon shareholder approval at a general meeting of shareholders of the Company ("General Meeting") to be held on or around
The Placing incorporates the issue of warrants to subscribe for 58,823,530 new Ordinary Shares at an exercise price of
Total Voting Rights
On Admission, it is expected that the Company will have 421,720,617 ordinary shares of 0.1p each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of ordinary shares and voting rights is expected to be 421,720,617.
The above figure of 421,720,617 may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under 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.
For further information on the Company, please visit www.rockfireresources.com or contact the following:
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Tel:+44 (0) 20 3328 5656
Tel: +44 (0)20 7374 2212
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This information is provided by RNS, the news service of the
Quick facts: Rockfire Resources PLC
Market Cap: £10.59 m
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