Last checked at 6 Dec 2017 10:13
Red Rock Resources plc
("Red Rock ")
Jupiter Mines Interim Results
6 December 2017
Red Rock announces that Jupiter Mines Limited (in which Red Rock holds a 1.2% interest) has recorded an after tax profit of approximately A$33m in its interim results for the six months to 31 August 2017.
The announcement released by Jupiter reads as follows: "Jupiter Mines Limited ("Jupiter" or "Company") is pleased to release its Half-Year Financial Report for the period ended 31 August 2017. The Company has recorded a post-tax profit of approximately A$33 million for the period, compared to a post-tax profit of approximately A$14 million in the previous corresponding period.
The Company's share of profit from the Tshipi manganese mine was recorded at over A$33 million. Jupiter's manganese marketing arm produced a profit of almost A$3 million. The results reflect Tshipi successfully delivering upon its substantially increased 3 mpta annual production plan against a backdrop of cost reduction and optimisation.
Following the March 2017 buy-back, where over A$70 million was returned to shareholders, Jupiter has maintained a strong balance sheet, with net assets of over A$437 million at the end of the period.
Subsequently Jupiter has just concluded a further A$32 million buy-back program and as recently announced, subject to manganese prices holding, further distributions to shareholders can be expected in March 2018."
Further information on the Jupiter results may be read on its website at www.jupitermines.com .
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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