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Rockfire Resources PLC ( (GB:ROCK) ) has issued an announcement.
Rockfire Resources has advanced its drilling campaign at the 100%-owned Molaoi zinc deposit in Greece, completing hole HMO-015 and commencing HMO-016 as part of efforts to upgrade the resource from Inferred to Indicated status. Portable X-ray fluorescence readings from HMO-015 indicate a strong mineralised zone at about 350m depth, with high peak spot values for zinc, silver and lead, and core from this hole has already been dispatched for laboratory analysis.
Laboratory assays from hole HMO-011, drilled at the southern edge of the licence, returned a 2m intercept grading 5.13% zinc, 20.2g/t germanium, 27.4g/t silver and 1.33% lead, confirming the continuity of polymetallic mineralisation to the licence boundary. Management says these results support the potential to expand the resource southwards and signal that licence extensions will be pursued in due course, reinforcing Molaoi’s importance within Rockfire’s portfolio and its positioning in the zinc and critical minerals space.
Spark’s Take on ROCK Stock
According to Spark, TipRanks’ AI Analyst, ROCK is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow), partially offset by a debt-free balance sheet and improved operating cash flow. Technical indicators are supportive and lift the score, while valuation is constrained by a negative P/E and lack of dividend data.
To see Spark’s full report on ROCK stock, click here.
More about Rockfire Resources PLC
Rockfire Resources is a London-listed exploration company focused on gold, base metals and critical minerals, with a flagship high-grade zinc, lead, silver and germanium deposit at Molaoi in Greece and a portfolio of gold, copper and silver projects in Queensland, Australia. Its Greek Molaoi deposit hosts a substantial JORC Inferred Mineral Resource, while the Plateau and Marengo projects in Queensland are subject to farm-in agreements with ASX-listed partners, underpinning a diversified exploration pipeline.
Average Trading Volume: 101,550,063
Technical Sentiment Signal: Strong Sell
Current Market Cap: £12.69M
For detailed information about ROCK stock, go to TipRanks’ Stock Analysis page.