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Rockfire Resources provides unaudited interim results

Published by , Editor
Global Mining Review,

Rockfire Resources plc, a gold and base metal exploration company, has announced its unaudited interim results for the six months ended 30 June 2021.

Rockfire continues to focus effort and resources on its strategic campaign to attain growth, primarily through exploration success. This forms an integral part of the growth strategy adopted by the Board to achieve increased asset value and therefore, shareholder wealth.

The company's exploration activities have pivoted towards our large-scale porphyry copper projects in Queensland, Australia, at a time when copper prices have materially increased. The Board believes the timing of higher copper prices, exploration drilling at our copper projects and the stable jurisdiction of Queensland are combining to Rockfire's advantage.

Corporate summary

On 6 May 2021, the company announced that it had completed a placing of 121 429 200 new ordinary shares at a price of 0.7 p, raising gross proceeds of £850 000. Rockfire's largest shareholder and Non-Executive Director, Nicholas Walley, subscribed for 6 million shares in the placing, thereby increasing his holding in the company to 59 million ordinary shares.

The net proceeds of the placing were for:

  • Inaugural reverse circulation (RC) drilling at Copper Dome.
  • Exploration RC drilling close to the resource at Plateau.
  • Inaugural drilling at Copperhead.

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Australian mining news Gold mining news