Update re Jupiter - Tshipi

RNS Number : 4328S

Red Rock Resources plc

09 September 2010

 



RED ROCK RESOURCES PLC

Update re Jupiter Mines - Tshipi

Dated: 9 September 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"). 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 announced that the South African Department of Mineral Resources has approved the transfer of the ownership of the mining rights from Ntsimbintle to the Tshipi Kalahari Manganese Project in South Africa.  On completion of the transaction which was unanimously approved by JMS shareholders on August 12^th 2010, Jupiter will own a 49.9% stake in the Tshipi manganese asset.

This was the last regulatory approval pending the decision to start construction of the Tshipi manganese mine. The Tshipi shareholders are fully focused on fast-tracking its development. The development plan is being optimized, the project team is being strengthened, and a decision to start Tshipi's development is imminent.  The mine is scheduled to commence production in 2012.

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.

 

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