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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, which is worth £422mln
  • Jupiter paid out a dividend of A$147mln in last financial year
Cobalt battery

Quick facts: Red Rock Resources PLC

Price: 0.425 GBX

AIM:RRR
Market: AIM
Market Cap: £2.87 m
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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 Resources PLC (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.”

 

Watch the interview

 

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

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