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Red Rock Resources chairman plays down impact of Kenyan licence issue

Andrew Bell, chairman of Red Rock Resources (LON:RRR), claims the termination of mining licences in Kenya is not as serious an issue as the share price reaction would suggest.

Red Rock’s stock fell 17% to 0.07p a share on Thursday following the news its interests in Kenya are in doubt with the government terminating licences held by its local partner. 

Bell says: ‘In terms of our activities and what people really value us for, I don’t think it does [affect us]. What mining companies have on their balance sheets is always different from the way the market looks at their value.’

Quick facts: Red Rock Resources PLC

Price: 1.1 GBX

AIM:RRR
Market: AIM
Market Cap: £10.7 m
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on 05/19/2020

2 min read