6 Dec 2017 10:13
Red Rock Resources plc
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("Red Rock ")
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Jupiter Mines Interim Results
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6 December 2017
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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.
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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.
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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.
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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.
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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."
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Further information on the Jupiter results may be read on its website at www.jupitermines.com .
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information, please contact:
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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
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