RED ROCK RESOURCES PLC
("Red Rock" or the "Company")
Re: Jupiter Mines Limited
Dated: 6 July 2010
Jupiter Mines Ltd ("JMS"), which is listed on the Australian Stock Exchange ("ASX") and in which the Company currently holds a 23.18% shareholding (ASX:JMS), today made a number of announcements on the ASX in relation to JMS' proposed acquisition of a 49.9% interest in the Tshipi manganese deposit ("Tshipi Acquisition"). The releases, together with links via which they can be viewed, were:
ASX Release 1 - Notice of Meeting to approve the Tshipi transaction and Explanatory Statement
http://www.asx.com.au/asxpdf/20100706/pdf/31r6f9n61k3z68.pdf
ASX Release 2 - Independent Expert Report prepared by Ernst & Young
http://www.asx.com.au/asxpdf/20100706/pdf/31r5yzsg917ll7.pdf
ASX Release 3 - Independent Technical Review of Project Kalahari prepared by SRK Consulting
http://www.asx.com.au/asxpdf/20100706/pdf/31r5z91stzt9lb.pdf
ASX Release 4 - Independent Valuation Update for the Mineral Assets of Jupiter Mines Prepared by Snowdon Mining Industry Consultants
http://www.asx.com.au/asxpdf/20100706/pdf/31r66mtght8gjr.pdf
Should the Tshipi Acquisition be approved by JMS shareholders, the Company's shareholding in JMS will be diluted from 23.18% to 5.35% of JMS' issued ordinary shares capital, as enlarged by the Tshipi Acquisition.
Andrew Bell, Chairman of Red Rock Resources plc, stated today:
"Tshipi may become one of the world's largest and longest-life manganese producers, and the decision of the Pallinghurst consortium to sell their stake to Jupiter Mines shows their commitment to using Jupiter as their platform for a 'steel feed' consolidation strategy. Our belief in that strategy was the reason for our dealings with them. The planned transaction will dilute our percentage interest in Jupiter, but it should be good for us and good for Jupiter."
For further information contact:
Andrew Bell |
0207 402 4580 or 07766 474849
|
Red Rock Resources plc |
Chairman |
Peter Trevelyan-Clark/ Ben Jeynes
|
020 7444 0800 |
Religare Capital Markets |
Nominated Adviser |
Nick Emerson
|
01483 413500 |
Simple Investments Ltd |
Broker |
Ron Marshman/ |
020 7245 1100 |
Hansard Communications |
Public Relations |
Updates on the Company's activities are regularly posted on its website www.rrrplc.com.