Re Jupiter Mines Limited

RNS Number : 9093O

Red Rock Resources plc

06 July 2010

 



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/ Justine James	020 7245 1100	Hansard Communications	Public Relations

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

 

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