Red Rock Resources plc Jupiter Mines - update and dividend declaration (8119R)
31 October 2019 - 10:04PM
UK Regulatory
TIDMRRR
RNS Number : 8119R
Red Rock Resources plc
31 October 2019
Red Rock Resources plc
("Red Rock " or the "Company")
Jupiter Mines - Update and Dividend Declaration
31 October 2019
Red Rock Resources Plc, the natural resource development company
with interests in gold and steel feed materials, announces that
Jupiter Mines Limited ("Jupiter", ASX:JMS), an Australian public
company in which Red Rock holds 17,024,914 shares (0.87%) and which
owns 49.9% of the Tshipi Borwa manganese mine in South Africa, has
released its interim results for the six months to 31 August 2019,
and declared a A$78,359,641.32 interim dividend.
This dividend is equivalent to A$0.04 per Jupiter share and will
be paid on 21 November. Red Rock will receive A$680,996
(approximately US$467,980 or GBP363,447).
.
The trading price for Jupiter shares in the market is A$0.325
per share, and the dividend represents a six month yield of
12.3%.
Jupiter notes the continuing decline in the Manganese price
since the half year end.
The full text of the Jupiter announcement may be read at
www.jupitermines.com
Andrew Bell, Chairman, comments: "Jupiter continues to show
strong cash generative abilities with what we believe to be a lower
cost base than its peer group; with a hundred year life of mine
this makes it able to strengthen its position in poor markets as
well as good. The board's discipline in not only maintaining but
exceeding its stated high dividend payout policy makes this an
unusual company. We expect Jupiter to build on its position as one
of the leading low cost producers globally".
The closing price of Jupiter shares on the Australian Stock
Exchange on 30 October 2019 was A$0.325, making Red Rock's holding
worth A$5,533,097.
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
Tim Sohal 0203 700 2500 Broker Pello Capital Limited
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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