Red Rock Resources, an exploration and mining company, has submitted an application for a mining lease covering the Macalder Tailings Reprocessing Project (MTRP) in south west Kenya.
The tailings - ground rock and process effluents that are generated in a mine processing plant - include 1.3m tonnes of Joint Ore Reserves Committee measured resource at a grade of 1.65g per tonne gold.
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Red Rock Chairman Andrew Bell said: "The submission of our first mining lease application in Kenya is an important milestone and demonstrates the progress that is being made. We look forward to engaging with the local community and all stakeholders in order to take the project forward to construction and commissioning."
The share price fell 8.85% to 1.70p by 13:15.
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