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LONDON - Dalaroo Ltd (ASX:DAL) shareholders have approved the issuance of consideration shares to Red Rock Resources Plc (AIM:RRR) with a 99.9% vote in favor during a general meeting held Tuesday, according to a statement from Red Rock.
The approval marks a significant step forward in Red Rock’s previously announced conditional sale of its Ivory Coast licenses to Dalaroo. The transaction, first disclosed on October 15, now awaits Dalaroo’s confirmation that all conditions for completion have been satisfied.
In parallel developments, Red Rock reported progress on its joint venture activities in the Democratic Republic of Congo (DRC). The Koto Red Rock JV has begun the process of evaluating short-listed copper-cobalt and gold licenses, following the company’s October 23 announcement of planned site visits.
The natural resource exploration company has also established a local office in Gombe, Kinshasa for the joint venture operations, with Chairman Andrew Bell scheduled to return to the DRC this week.
Red Rock continues to await the conclusion of its litigation proceedings with VUP in the DRC, referenced in the company’s June 11 announcement. The company stated it expects a Supreme Court judgment "very soon" and remains "confident that its position will be upheld."
The update was provided in a press release issued by Red Rock Resources, which has interests in gold, base metals, battery metals, and hydrocarbons primarily in Africa and Australia.
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