Rockfire Resources still able to access Queensland site

Gold and base metal explorer Rockfire Resources updated the market on its operations in light of the Covid-19 coronavirus pandemic on Friday, saying it had instigated various measures as a response to the current economic, environmental and financial climate.

The AIM-traded firm said that as per the current Australian government restrictions, its field team would be able to access the site at the conclusion of the wet season, as all staff were based within Queensland and were therefore not impacted by the Queensland state borders being closed.

It said it would regularly review its position in line with government advice.

In Queensland, Rockfire said it was still advancing its exploration activities, including technical analysis, desktop mapping and planning for the next drill program.

“The safety and wellbeing of every member of our staff, our contractors and the local landowners remains our ultimate priority,” the board said in its statement.

It currently expected to undertake a review of operational conditions at the end of the wet season, which was expected to be in late April.

“The company continues to consider all options available to it, including potential access to Australian and UK government assistance,” the directors added.

“In addition, the company will adopt cost reduction measures as appropriate, including renegotiating arrangements with its service providers.”

The board said it was currently completing the audit of its financial results for the year ended 31 December, which would be announced “in due course”.

Owing to government instructions regarding social distancing, Rockfire said it expected to hold its annual general meeting remotely.

At 1535 BST, shares in Rockfire Resources were down 7.27% at 0.51p.