Jupiter Mines - Update

RNS Number : 5982X

Red Rock Resources plc

30 April 2019

 

Red Rock Resources plc

("Red Rock " or the "Company")

Jupiter Mines - Update

30 April 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 18,524,914 shares (0.95%), has released preliminary financial results for the year ending 28 February 2019. The preliminary financial results are based on a draft financial report which is in the process of being audited.

Highlights

·     Consolidated pretax profit +88.4% to A$192.026m

·     Consolidated net profit +54.2% to A$142.187m

·     Net earnings per share +67.5% to A$0.0727

·     Manganese sales from Tshipi mine +5.1% to 3.51mt

·     Average Manganese ore price in year US$6.00 FOB per DMTU (dry metric ton unit) [note: currently US$5.40]

·     Cost of production during the year averaging ZAR 30.66 per DMTU, FOB, making Tshipi one of the lowest cost manganese producers

The full announcement can be found at: https://www.jupitermines.com/cproot/896/3/20190430%20Jupiter%20Mines%20Preliminary%20Final%20Report%2028%20February%202019.pdf 

The closing price of Jupiter shares on the Australian Stock Exchange today was A$0.355, making Red Rock's holding worth A$6,576,344.

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

OK then…..

 

END

 

 

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