Red Rock Resources PLC

Red Rock Resources sets sights on battery metal revolution

Stake in Jupiter worth more than Red Rock's s own market value

Cobalt battery


  • Red Rock Resources has interests in several early-stage mining projects

  • Now, though, it is essentially a proxy for manganese miner Jupiter Mines and Power Metal Resources

  • Red Rock owns just under 1% of Jupiter, which has a market cap of £422mln

  • Jupiter paid a dividend of A$147mln in its last financial year to February


What it owns

Manganese - 0.95% 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 is it doing

In August, Red Rock (LON:RRR) flagged up the strong results from Jupiter Mines.

Jupiter highlighted sales in line with its target, firm manganese prices, growth in Chinese steel production and a 71% rise its shares since the year of last year.

Red Rock chairman Andrew Bell said Jupiter “continues to demonstrate the stability, consistency, and simplicity of the first-rate business it is”. 

“With a stated policy of a 70% payout ratio, it achieved 90% payout last year, and is on course to provide a continuing strong earnings and dividend stream this year,” he said.

“We expect organic growth and consolidation of its interests to drive the business over the next four or five years, with enterprise value materials potentially providing a significant source of incremental demand at the end of that period.”


Inflection points

Further expansion and dividends from Jupiter

Power Metal Resources has started exploration programme

Some progress on other projects

Red Rock valued at a discount to stake in Jupiter Mines

Quick facts: Red Rock Resources PLC

Price: £0.00

Market: AIM
Market Cap: £3.21 m

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Red Rock Resources excited about potential of its battery metal assets

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on 17/7/19

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