logo-loader
viewRed Rock Resources PLC

Jupiter Mines - Update

/**/ p{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;}link{ color: blue }visited{ color: #954F72 } .ab{size:595.0pt 842.0pt;margin:63.8pt 2.0cm 72.0pt 2.0cm;}div.ab{}p.be{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: center}span.bc{font-size:16.0pt;font-family:"Century Gothic","sans-serif"}p.bf{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align: center}span.ba{font-family:"Century Gothic","sans-serif"}span.ay{font-size:10.0pt;font-family:"Century Gothic","sans-serif"}p.bg{margin-top:0cm;margin-right:0cm;margin-bottom:3.0pt;margin-left:0cm;text-align:center;font-size:12.0pt;font-family:"Cambria","serif";font-weight: bold; margin-bottom: 0cm}span.ax{font-size:14.0pt;font-family:"Century Gothic","sans-serif"}p.bh{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold} span.av{font-size:11.0pt;font-family: "Century Gothic","sans-serif"}p.bi{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify}span.at{font-size:11.0pt;font-family:"Century Gothic","sans-serif"}p.bj{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; text-align: justify}p.bk{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:-18.0pt}span.aq{font-size:11.0pt;font-family:Symbol}.ao{font-div: italic}span.an{font-size: 11.0pt;font-family:"Century Gothic","sans-serif"}p.bl{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic; text-align: justify}span.al{font-size:9.0pt;font-family:"Century Gothic","sans-serif"} span.ak{font-size:10.0pt;font-family: "Century Gothic","sans-serif"}p.bm{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";color:black;border:none;margin-top:0cm;margin-right:-7.45pt;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt;text-align:justify}span.aj{font-size:10.0pt;line-height:107%;font-family:"Century Gothic","sans-serif"}span.ai{font-size:10.0pt;line-height:107%; font-family:"Century Gothic","sans-serif"}p.bn{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";color:black;border:none;margin-top:0cm;margin-right:-14.55pt;margin-bottom:0cm; margin-left:0cm;margin-bottom:.0001pt}span.ag{font-size: 10.0pt;line-height:107%;font-family:"Century Gothic","sans-serif"}p.bo{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-autospace:none}span.ae{font-size:10.0pt;font-family:"Century Gothic","sans-serif";color:black; border:none}span.ad{font-size:10.0pt; font-family:"Century Gothic","sans-serif";color:black;border:none} /**/
RNS Number : 5824L
Red Rock Resources plc
09 September 2019
 

Red Rock Resources plc

("Red Rock " or the "Company")

 

Jupiter Mines - Update

 

9 September 2019

 

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and battery minerals, announces that Jupiter Mines Limited ("Jupiter", ASX:JMS), an Australian public company in which Red Rock holds 17,024,914 shares (0.87%), has released an update "Tshipi Declares Further ZAR600m Dividend".

 

Jupiter owns 49.9% of Tshipi é Ntle Manganese Mining (Pty) Limited ("Tshipi"), operator of  the Tshipi Borwa open pit manganese mine in South Africa.

 

Highlights:

 

·    Tshipi board resolves to pay a further AUD 59m dividend to shareholders

·    Total H1 FY2020 dividend from Tshipi now AUD 173m

·    Jupiter to receive 49.9% of this AUD 59m

·    Jupiter also to receive approx. AUD 3m from marketing operations

·    Jupiter will declare a dividend exceeding its 70% payout policy after publishing interims at end October 

 

The full announcement by Jupiter can be found at www.jupitermines.com 

 

At the closing price of Jupiter shares on the Australian Stock Exchange today of A$0.38, Red Rock's holding is worth A$6,469,467 (£3,606,649).

 

Andrew Bell, Red Rock Chairman, comments: "Jupiter has a stated policy of a 70% payout ratio, and achieved a 90% payout last year. With the business continuing to perform well, and with Manganese prices remaining resilient, we expect a strong dividend announcement in October.

 

The continuing significance to us of our holding in Jupiter is demonstrated by the fact that the value of our holding today is 14% in excess of our market value of £3,177,433".

 

 

For further information, please contact:

 

Andrew Bell 0207 747 9990                                                      Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990                                                       Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396       NOMAD Beaumont Cornish Limited

Jason Robertson 0207 374 2212                                               Broker First Equity Limited


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
UPDLPMMTMBAMTML

Quick facts: Red Rock Resources PLC

Price: 0.425

Market: AIM
Market Cap: £2.87 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

The DRC is 'misunderstood and very much open for business'

Freddy Shamwana, executive director of African Environmental & Sustainability Consulting LTD and Barry Kazadi, managing director of Minex Consulting SA discuss why they believe the public opinion of the DRC is 'outdated and behind the times'. They say there's misinformation out there...

on 11/10/19