Red Rock Resources
RRR · AIM · Basic Resources · mcap £1.5m · 0.0p 4 open situations →
- EV
- £6.5m
- EV / EBIT
- –
- Net debt
- £6.1m
- FCF yield
- -120.0%
- Revenue
- –
- Share price 1y
- −66%
- Insiders 12m
- no deals
- Next report
- around 21 Dec
Open · 4
Going concern uncertainty
Includes Ivory Coast licences sale – Still in process of sale
The auditor flagged going-concern uncertainty in December 2025 and the position stayed stretched in April. Asset sales and DRC progress ran slower than forecast. On 30 September 2026 the company raised £242k at a 25% discount for audit, tax and working capital, and says cash inflows are delayed, not reduced.
- Funding need
- Expects to raise further funds by disposals or otherwise
- Dependence
- Depends on the continued support of key stakeholders
- Size
- £242,250 gross; 1,700,000,000 new shares
- Price
- 0.01425 pence per share
- Discount
- 25% to the latest mid-market closing price on AIM
- Use of money
- Tax, regulatory, accounting and audit requirements, plus general working capital
Next: General Meeting to increase authorised capital
- 30 Sep 2026 Small discounted placing; cash inflows delayed
- 24 Jul 2026 Funding need restated; progress slower than forecast
- 1 Apr 2026 Extension agreed for final payment
- 22 Dec 2025 Material uncertainty flagged by auditor
DRC social housing JV
The 50-50 JV with Koto signed the Lot 1 contract ($7,158,887) for the first Kinshasa factory, and the provisional award covers two more. The partner still awaits its first payment. Ebola travel restrictions and tighter public-contract procedures have delayed timing, so first housing sales are no longer expected by year end.
- Lot 1 value
- $7,158,887, first wall-panel factory, Kinshasa
- Contract parties
- Ministry of Rural Development of the DRC and Koto DRC SARL
- Next milestone
- Partner's scheduled first payment awaited; date not stated
- Wider award
- Provisional award covers a further two factories
- Delay
- First housing sales no longer expected by end-year
- Cause
- Ebola-related traveller restrictions; tighter DRC public contract procedures
Next: First scheduled payment to JV partner
- 30 Sep 2026 Contract signed; payment awaited, sales delayed
- 24 Jul 2026 Lot 1 contract signed; funds to be disbursed
- 25 Jun 2026 Award published; three factories to progress
- 1 Jun 2026 Provisional award issued; first factories due late summer
DRC court judgment and settlement
Next: Resolution of Musonoi claims and first new copper-cobalt licence
- 25 Jun 2026 Progressing; team on site since April
- 1 Apr 2026 Judgment still awaited; funds held by State miner
- 22 Dec 2025 Judgments expected; confirmation awaited
Ivory Coast licences sale
Part of Going concern uncertainty – Small discounted placing; cash inflows delayed
Next: completion of sale to Dalaroo
- 1 Apr 2026 Still in process of sale
- 22 Dec 2025 Agreed with Dalaroo; settlement in shares pending
- 19 Dec 2025 Conditional; completion extended for due diligence
Closed · 1
Company filings. Not investment advice.