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Rockfire Resources confirms exit from Papua New Guinea (ROCK)

Tuesday saw Rockfire Resources (LSE:ROCK) confirm its exit from Papua New Guinea, leading shares in the Australia-focused business to inch down 3.33p to 0.65p.

The business’s move came after Papua New Guinea’s Minister for Mining decided not to renew its Nakru licence, which has been under review since September 2017. In reaching this conclusion, the minister noted that Rockfire had held the tenement since 2012 but had not identified any resources.

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