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Rockfire Resources PLC ( (GB:ROCK) ) has issued an announcement.
Rockfire Resources has reported new drilling results from its 100%-owned Molaoi zinc deposit in Greece, where diamond drilling continues to upgrade the zinc resource from Inferred to Indicated status. Recent holes in the southern and western extensions have intersected narrow but high-grade zones of zinc, silver, germanium and copper, reinforcing the continuity of germanium mineralisation and suggesting copper may help vector towards a higher-grade central feeder zone.
Operationally, the company is temporarily pausing drilling over Orthodox Easter but plans to resume later in April, and it has decided to purchase its own drilling rig using existing cash reserves. Management expects this investment to reduce future drilling costs and increase metres drilled within the current budget, potentially accelerating resource definition and enhancing Rockfire’s position in the volcanogenic massive sulphide exploration space.
The most recent analyst rating on (GB:ROCK) stock is a Hold with a £0.20 price target. To see the full list of analyst forecasts on Rockfire Resources PLC stock, see the GB:ROCK Stock Forecast page.
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 Molaoi deposit hosts a significant JORC Inferred Resource, while the Plateau and Marengo prospects in Queensland are advanced via farm-in agreements with ASX-listed partners, positioning Rockfire as a junior player leveraging strategic assets in Europe and Australia.
Average Trading Volume: 115,339,441
Technical Sentiment Signal: Sell
Current Market Cap: £13.13M
Find detailed analytics on ROCK stock on TipRanks’ Stock Analysis page.