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Red Rock Resources ( (GB:RRR) ) just unveiled an update.
Red Rock Resources Plc has entered into a binding conditional agreement to sell its wholly-owned subsidiary, LacGold Resources SARLU, which holds gold exploration licenses in the Ivory Coast, to Dalaroo Metals Ltd. This transaction allows Red Rock to receive shares in Dalaroo, enhancing its liquidity and enabling participation in future successes if exploration leads to an Indicated Resource. This strategic move aligns with Red Rock’s focus on monetizing non-core assets, as demonstrated by a recent sale in Colombia, and positions the company to better manage its portfolio and commitments.
Spark’s Take on GB:RRR Stock
According to Spark, TipRanks’ AI Analyst, GB:RRR is a Underperform.
Red Rock Resources’ stock is under pressure due to significant financial challenges, including negative cash flow and profitability issues. Although technical indicators suggest some potential for future improvement, the company’s valuation is weak, with a negative P/E ratio and no dividend yield. Corporate events present both opportunities and risks, notably the legal proceedings in the DRC and recent share issuance to improve its financial standing.
To see Spark’s full report on GB:RRR stock, click here.
More about Red Rock Resources
Red Rock Resources Plc is a natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons, primarily operating in Africa and Australia.
Average Trading Volume: 60,993,919
Technical Sentiment Signal: Sell
Current Market Cap: £2.54M
Learn more about RRR stock on TipRanks’ Stock Analysis page.