Red Rock Resources has issued new shares to settle obligations to Kansai Mining Corporation in relations to its Kenyan mining interests.
Red Rock said it issued 4,500,000 ordinary shares at 0.60p each, equating to £27,000. The sum includes an an initial amount of £25,000 and an additional notional charge for interest since June 2015.
The company commenced an action for judicial review in relation to the assets in May 2015, which it said was continuing.
"The company will continue to maintain its rights in the interests of our shareholders as we believe that we have a strong case that must sooner or later prevail," chairman Andrew Bell said.
"We are in parallel exploring options that might result in an earlier outcome beneficial to all parties. Everybody wants to see these assets developed and brought into production."
At 9:12am: (LON:RRR) Red Rock Resources PLC share price was 0p at 0.58p