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Update re Jupiter Mines

14 Oct 2010 08:46

RNS Number : 3788U
Red Rock Resources plc
14 October 2010
 



RED ROCK RESOURCES PLC

Update re Jupiter Mines

Dated: 14 October 2010

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed and uranium, reports on progress at Jupiter Mines Ltd's Tshipi Kalahari Manganese Project ("Tshipi") and on Jupiter's Mt Ida Project. Red Rock has 83,794,165 shares in Jupiter Mines Ltd (ASX: JMS; "Jupiter"), a 22.64 per cent shareholding which will reduce to 5.23 per cent on completion of Jupiter's acquisition of a 49.9 per cent interest in Tshipi.

Jupiter today released an update on its Tshipi acquisition and announced an exploration update on its Mt Ida project.

Closing of the Tshipi acquisition is imminent with the approval of the transfer of the Tshipi Bokone prospecting permit now approved by the Department of Mineral Resources. A Tshipi manager has also been appointed. On completion of the acquisition of its 49.9 per cent stake in Tshipi, Jupiter will have 1,602,150,501 shares in issue, capitalising Jupiter at approximately A$528 million at its closing price today of A$0.33 per share.

At Mt Ida, Jupiter announced:

·; Structural mapping completed over the Mt Ida Banded Iron Formation

·; The 11,000 metre RC drill program is approximately 70% complete

·; Davis Tube Recovery Testwork on the first seven drill holes have been completed

·; Concentrate weight recoveries of up to 52% and grades of 69% FE being achieved

·; Targeting 400Mtonnes of JORC compliant inferred resource by year end.

The full text of the announcements, together with a presentation on Jupiter's steel feed corporation, may be accessed via http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS

Enquiries:

Andrew Bell

 

 

0207 402 4580 or 07766 474849

 

 Red Rock Resources plc

Chairman

Sandra Spencer

 

0207 402 4580 or 07757 660 798

 

Red Rock Resources plc

Public and Investor Relations

Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

Religare Capital Markets

Nominated Adviser

Nick Emerson

 

01483 413500

Simple Investments Ltd

Broker

 

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
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6th Feb 20178:18 amRNSHolding(s) in Company
23rd Jan 20177:07 amRNSColumbia Update
23rd Jan 20177:00 amRNSJupiter Mines:Equal Access Buy Back
16th Jan 20177:00 amRNSGrant of Options, Directors' Shareholdings
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19th Sep 20162:57 pmRNSHolding(s) in Company
7th Sep 20162:18 pmRNSHolding(s) in Company
5th Sep 201611:05 amRNSSecond Price Monitoring Extn
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5th Sep 20167:00 amRNSUpdate
31st Aug 20166:24 pmRNSTotal Voting Rights
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16th Aug 20167:00 amRNSUpdate
28th Jul 20169:57 amRNSAcquisition of Further Interest in Goldstone
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16th Jun 20164:55 pmRNSDirectors Dealings
14th Jun 20162:22 pmRNSCancellation and Re-issue of Options
8th Jun 20167:35 amRNSShoats Creek Update
17th May 201611:19 amRNSHolding(s) in Company
11th May 20167:00 amRNSUpdate - Colombia
5th May 20167:00 amRNSTransaction completion and operational update
29th Apr 201611:00 amRNSFinancing, Directors Dealings and TVR
28th Apr 201611:00 amRNSAcquisition of Share Interest, Issue of Shares
14th Apr 20161:35 pmRNSDirector/PDMR Shareholding
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13th Apr 20163:48 pmRNSHolding(s) in Company
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