logo-loader
viewRed Rock Resources PLC

Red Rock Resources sets sights on battery metal revolution

Snapshot

  • Has interests in several early-stage mining projects
  • Basically a proxy for manganese miners Jupiter and Power Metal
  • Owns just under 1% of Jupiter Mines
Cobalt battery

Quick facts: Red Rock Resources PLC

Price: 0.45 GBX

AIM:RRR
Market: AIM
Market Cap: £3.04 m
Follow

 

What it owns

Manganese - 0.87% stake in Jupiter Mines that owns nearly 50% of the Tshipi Borwa open pit manganese mine in South Africa.

Cooper/cobalt -Three licences in DRC

Gold – Migori  (Kenya 100%), El Limon (Colombia royalty), Ivory Coast (100%)

Oil & Gas – Elephant Oil (Benin 4.84%)

Listed - Stakes in Power Metal Resources (LON:POW) and Regency Mines

How it's doing

Jupiter reduced its dividend payout in the half-year to August to A$0.04 per share noting the slide in the price of manganese.

The miner though said it remains committed to distributing almost all cash received from Tshipi, achieving a payout ratio of over 90% with this dividend.

"The work on cost optimisation initiatives continue, which is especially pertinent in this low manganese price environment,” said the Aussie-listed miner.

Red Rock will receive A$681,000 (approximately US$468,000 or £363,000) from the interim payout.

Losses for the year to June were £1.72mln (£78,000 profit).

What the boss says: Andrew Bell  

Kenya, the Congo and exploration at Luanshimba are the focus for 2020.

“From so low a market capitalisation, it will be difficult to disappoint, and the opportunity for progress is considerable.”

Watch the interview

 

Inflexion points

  • Further dividends from Jupiter
  • Power Metal Resources has started exploration programme
  • Some progress on other projects in Kenya and DRC

Add related topics to MyProactive

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...

In exchange for publishing services rendered by the Company on behalf of Red Rock Resources PLC named herein, including the promotion by the Company of Red Rock Resources PLC in any Content on the Site, the Company...

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

2 min read