Red Rock gains another 1% in Steelmin

The stake of natural resource development company Red Rock Resources in strategic alloy producer Steelmin has increased to 17%, after being issued an additional 1% share capital as part of a €3.87-million secured loan agreement. The eight-month secured loan note, agreed in June, saw Aim-listed Red Rock receive 16% of the fully diluted equity of Bosnia-based Steelmin as partial consideration.