Red Rock Resources Plc (LSE:RRR) has signed a binding conditional agreement to sell its wholly owned subsidiary, LacGold Resources SARLU — holder of gold exploration licenses in the Ivory Coast — to Dalaroo Metals Ltd. Under the terms of the transaction, Red Rock will receive Dalaroo shares, increasing its liquidity while maintaining exposure to potential upside if the projects progress to an Indicated Resource.
This sale reflects Red Rock’s ongoing strategy to monetize non-core assets and streamline its portfolio, following a similar divestment in Colombia. The company aims to strengthen its financial position and focus more effectively on its core projects and obligations.
Despite this strategic progress, the company continues to face financial headwinds, including negative cash flow and profitability pressures. Technical indicators show limited upside potential, and valuation metrics remain weak, with a negative P/E ratio and no dividend yield. Legal proceedings in the DRC and a recent share issuance add both complexity and opportunity to its corporate landscape.
About Red Rock Resources:
Red Rock Resources is a natural resource exploration and development company with interests spanning gold, base metals, battery metals, and hydrocarbons. Its operations are primarily based in Africa and Australia.
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