Red Rock Resources PLC's (LON:RRR) chairman, Andrew Bell has commented on the proposed listing by Jupiter Mines (ASX:JMS) of its Central Yilgarn of its iron ore assets.
Red Rock has a holding in Jupiter Mines valued currently at approximately A$4.35mln. The company also has a 1.3% gross revenue royalty over the Mt Ida iron ore project.
The Central Yilgarn iron ore assets consists of the Mt Ida magnetite deposit, and the Mt Mason DSO haematite deposit. Both already boast established JORC resources.
Jupiter has said it will continue to update the market as part of its "continuous disclosure policy."
"Recent higher iron ore prices have created an opening, provided prices hold, for a successful sale or flotation of Jupiter's iron ore assets,” said Bell in a statement.
“Red Rock is the holder both of Jupiter shares and of a royalty over the large Mt Ida iron ore deposit,” he noted.