Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRed Rock Resources Regulatory News (RRR)

Share Price Information for Red Rock Resources (RRR)

Share Price is delayed by 15 minutes
Get Live Data
0.0245    -0.0005 (-2.00%)
Bid:
0.023
Ask:
0.026
Spread: 0.003 (13.043%)
Market Cap: £2.35m
RRR Live PriceLast checked at - London Stock Exchange

Intraday Red Rock Resources Share Chart

Jupiter Mines: update

5 Jun 2017 09:20

RNS Number : 1369H
Red Rock Resources plc
05 June 2017
 

Red Rock Resources plc

 

("Red Rock")

 

Jupiter Mines: Update

 

5 June 2017

 

Further to the announcements of 13th March and 14th March 2017, Red Rock announces that Jupiter Mines Ltd, an Australian unlisted public company, has released the following statement:

 

"JUPITER TO DISTRIBUTE US$25 MILLION FOR HALF YEAR 2018

 

The Tshipi mine remains on track to produce 3mtpa for the 2018 financial year end.

Should the existing manganese prices continue, Tshipi will distribute a further ZAR500

million to its shareholders in September whilst retaining its healthy debt free balance

sheet. This repayment will result in a total return to Tshipi shareholders of ZAR1.5 billion of their original ZAR2.0 billion capital investment. Jupiter Mines Limited ("Jupiter" or "Company") has also recorded an operating profit of approximately US$10 million from its marketing business.

 

As a result Jupiter plans to distribute US$25 million to its shareholders in September. This will be via an off-market equal access share buy-back ("Buy-Back"). The cash for this will come from the profits generated by Tshipi and Jupiter's manganese marketing business.

 

The exact terms of the Buy-Back will be announced in due course but may be for approx. 2.5% of the issued capital of the Company.

 

The strategic process is progressing as per plan and is generating strong industry interest.

 

Should there be any material developments, an update will be announced in due course, along with the necessary shareholder approvals needed."

 

 

Red Rock holds approximately 1.2% of the issued share capital of Jupiter, so that it will receive approximately US$300,000 as part of the planned distribution.

 

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 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEAPKSEFKXEEF
Date   Source Headline
22nd Mar 201812:12 pmRNSHolding(s) in Company
20th Mar 20187:00 amRNSJupiter - buy back completed, prospectus published
15th Mar 20184:58 pmRNSHolding(s) in Company
9th Mar 20181:03 pmRNSIssue of Equity and Total Voting Rights
22nd Feb 201811:29 amRNSIssue of Equity and Total Voting Rights
21st Feb 20187:00 amRNSSteelmin repays Red Rock Loan
31st Jan 20187:00 amRNSUpdate and TVR
22nd Jan 20189:19 amRNSJupiter Mines - Further Buy-Back
18th Jan 20187:00 amRNSUpdate on Steelmin
3rd Jan 20187:15 amRNSAlign Research coverage initiation
3rd Jan 20187:00 amRNSHolding(s) in Company
22nd Dec 201712:30 pmRNSResult of AGM
21st Dec 20174:59 pmRNSIssue of Equity, Directors' Dealings and TVR
18th Dec 20179:32 amRNSDirectors' Dealings
15th Dec 201710:07 amRNSDirectors' Dealings
14th Dec 20172:49 pmRNSHolding(s) in Company
14th Dec 20179:58 amRNSIssue of Convertible Notes and Warrants
12th Dec 20175:51 pmRNSIssue of Convertible Notes and Warrants
11th Dec 201712:32 pmRNSHolding(s) in Company
6th Dec 20176:23 pmRNSPosting of Annual Financial Report & Notice of AGM
6th Dec 201710:13 amRNSJupiter Mines Interim Results
5th Dec 201710:40 amRNSJupiter Mines Update
5th Dec 20177:00 amRNSFurther Extension of Due Diligence Period
23rd Nov 20173:56 pmRNSAnnual Financial Report
17th Nov 20175:48 pmRNSHolding(s) in Company
17th Nov 20172:26 pmRNSHolding(s) in Company
16th Nov 20177:00 amRNSJupiter Mines Update
10th Nov 20177:00 amRNSIssue of Convertible Loans and Warrants
3rd Nov 20175:06 pmRNSExtension of Due Diligence Period
1st Nov 20177:00 amRNSChange of Broker
31st Oct 20177:00 amRNSIssue of Equity and TVR
18th Oct 20174:33 pmRNSDue Diligence Process on Potential JV
9th Oct 20174:10 pmRNSDirector/PDMR Shareholding
9th Oct 20177:00 amRNSIssue of Shares under Share Incentive Plan
29th Sep 20175:02 pmRNSHolding(s) in Company
28th Sep 20177:00 amRNSJupiter Mines Buy-Back Update
26th Sep 201711:50 amRNSConditional JV to develop cobalt/copper tailings
22nd Sep 201712:04 pmRNSHolding(s) in Company
20th Sep 201711:04 amRNSRepayment on Loan Note
15th Sep 20179:21 amRNSHolding(s) in Company
11th Sep 201712:09 pmRNSJupiter Mines Buy-Back
8th Sep 20177:00 amRNSUpdate on Steelmin Investment
6th Sep 201712:42 pmRNSShoats Creek Update
31st Jul 20177:00 amRNSJupiter Mines: Update
21st Jul 201711:52 amRNSShoats Creek Update
14th Jul 20177:00 amRNSJupiter Mines: Update
3rd Jul 201711:19 amRNSUpdate on Steelmin Limited Investment
28th Jun 20173:29 pmRNSHolding(s) in Company
27th Jun 20171:57 pmRNSJupiter Mines: Update
23rd Jun 20177:00 amRNSAcquisition of Interest in Steelmin Limited

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.