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Red Rock notes Jupiter Mines' results

By BFN News | 02:22 PM | Wednesday 06 December, 2017


Red Rock Resources has confirmed that Jupiter Mines, a Company in which it holds a 1.2% interest, has reported a post-tax profit of approximately A$33m in its interim results for the six months to 31 August 2017. Additional information: The announcement released by Jupiter reads as follows: "Jupiter Mines Limited ("Jupiter" or "Company") is pleased to release its Half-Year Financial Report for the period ended 31 August 2017. The Company has recorded a post-tax profit of approximately A$33 million for the period, compared to a post-tax profit of approximately A$14 million in the previous corresponding period. The Company's share of profit from the Tshipi manganese mine was recorded at over A$33 million. Jupiter's manganese marketing arm produced a profit of almost A$3 million. The results reflect Tshipi successfully delivering upon its substantially increased 3 mpta annual production plan against a backdrop of cost reduction and optimisation. Following the March 2017 buy-back, where over A$70 million was returned to shareholders, Jupiter has maintained a strong balance sheet, with net assets of over A$437 million at the end of the period. Subsequently Jupiter has just concluded a further A$32 million buy-back program and as recently announced, subject to manganese prices holding, further distributions to shareholders can be expected in March 2018." At 2:22pm: (LON:RRR) Red Rock Resources PLC share price was 0p at 0.58p Story provided by StockMarketWire.com

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