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Red Rock progresses exploration in Africa

Miningweekly - London-listed Red Rock Resources in the six months ended December 31, 2019, reported a profit before tax from continuing operations of £337 000, compared with a loss of £283 000 in the six months ended December 31, 2018.

Chairperson Andrew Bell says the company’s net finance income was at similar levels in the six months under review as the prior six month period, at £524 000, amounting to interim diluted earnings a share of 0.047p apiece.

The company’s total comprehensive loss for the period under review was £227 000, compared with a total comprehensive loss of more than £2-million in the prior comparable period, with the loss arising as a result of revaluation of available-for-sale investments.

The company has interests in various mining companies across commodities, including a 1% shareholding in ASX-listed Jupiter Mines, which, in turn, has an interest in the company that owns the Tshipi Borwa manganese mine, in South Africa.

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