Aim-listed Red Rock Resources has provided an update on its arbitration in the Democratic Republic of Congo (DRC) with respect to the claim the company is pursuing in-country for its interest in the VUP copper/cobalt joint venture (JV).
On February 5, Red Rock noted that a finalisation of the arbitration award in relation to the company’s claim for its share of the sale proceeds of a JV asset was awaiting signature and release.
Following a period where Presidential elections and the formation of a new administration caused a pause in this and many other matters, Red Rock this week said its understanding was that there was a consensus in relation to the company’s position and that it expected this matter to be resolved, irrespective of any third-party matters, within a short timeframe.
Recent intensive and direct discussions with the former JV partners meant that the company may be able to approach the arbitrator with an agreed position, it added.
Meanwhile, in Burkina Faso, a team from the company and its technical partners was on the ground at the Bilbale project.
The first gold wash plant is expected to arrive by air within a few days.