Red Rock Resources Investee Receives Dividend From South African Miner

LONDON (Alliance News) - Red Rock Resources PLC said Tuesday its investee Jupiter Mines Ltd has ...

Alliance News 12 February, 2019 | 2:23PM
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LONDON (Alliance News) - Red Rock Resources PLC said Tuesday its investee Jupiter Mines Ltd has received a dividend from Tshipi e Ntle Manganese Mining (Pty) Ltd.

Jupiter - in which Red Rock holds a 1% interest - will receive a ZAR521 million, about GBP29 million, dividend from Tshipi, a South African miner.

"We are pleased to report that Jupiter continues to perform strongly. While this is not the formal announcement of a dividend by Jupiter, Jupiter on relisting in 2018 declared a dividend policy that would mean the distribution of most sums received from Tshipi," said Red Rock Chair Andrew Bell.

He added: "This distribution from Tshipi is a sign of confidence in the prospects of the business. The manganese price continues stable at satisfactory levels."

Shares in Red Rock Resources were up 3.0% Tuesday at 0.70 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Red Rock Resources PLC 0.46 GBX -8.00 -
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