LONDON (Thomson Financial) - Red Rock Resources plc. said Australian-listed
Retail Star Ltd. lodged a prospectus with the Australian Securities and
Investment Commission on July 4 to re-list RSL as a uranium exploration company
following a change in the nature of its activities and to raise up to A$2.5
million through a general offer of 2.5 million shares at A$0.20 and a
non-renounceable entitlement offer of 2 shares for every 9 shares held, also at
A$0.20 per share.
Red Rock, the largest shareholder in RSL, currently holds 140 million RSL
shares, representing a 24.2 percent. It has also agreed to partially underwrite
the entitlements offer up to A$1.1 million for a fee of 4 percent.
RSL has also updated on two of its exploration properties.
It said the first phase of field reconnaissance on Edith River in the
Northern Territories is nearing completion.
And at Machinga in Southern Malawi a scintillometer survey at 200 metres
spacing over the entire 7 kilometer long Machinga Radiometric Anomaly was
conducted. XRF measurements show grades of up to 1.55 percent Niobium and 6.2
percent Zirconium.
tf.TFN-Europe_newsdesk@thomsonreuters.com
slm
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|