LONDON (ShareCast) - (Sharecast News) - Natural resource development company Red Rock Resources has hit the brakes on planning work in the Democratic Republic of Congo due to the nation's uneasy political climate.
Red Rock, which was aiming to complete a report on its operations on the DRC by the end of 2018, noted that it had been unable to do so after the nation's internet services had been suspended following the elections to "avoid rumour and chaos".

The AIM-listed firm said, having received advice not to visit the DRC until after the results due to the "high possibility of civil disorder", it was unable to make little further progress over the last month.

However, Red Rock will now prepare for activities scheduled to begin following the end of the rainy season in March.

Chairman Andrew Bell said: "It is a great relief and an important development that the Presidency of the DRC is going to pass relatively seamlessly to a candidate of the opposition, and a sign of the growing political maturity of the country and its neighbours."

"We have suffered no disruption in our work and currently expect none. We are now quite positive on the prospects for our main Congolese licenses."

Elsewhere, Red Rock said it would continue to "vigorously pursue" legal options in order to fully restore rights to its gold licenses in Kenya.

As of 0850 GMT, Red Rock shares had dipped 1.65% to 0.57p.

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