- Rockfire Resources said it had decided to relinquish its two Mount Visi exploration licences in Papua New Guinea.

Rockfire said it would retain the single Nakru licence, for which it was still awaiting ministerial approval for renewal in Papua New Guinea.

'Over the years, considerable work has been done at Mount Visi, including 776 metres of diamond drilling in five holes,' chief executive David Price said.

'With best results being 71 metres at 0.04% copper, the company considers the on-going costs of further exploration in difficult, rugged terrain to be well outside Rockfire's risk-reward profile at this stage of its growth.'

At 1:24pm: [LON:ROCK] Rockfire Resources Plc Ord 0.1p share price was -0.03p at 0.95p

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