Business
RE Jupiter Mines
RE Jupiter Mines.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n RNS Number : 3567A Red Rock Resources plc 31 January 2011 \n \n\nRED ROCK RESOURCES PLC\n(\"Red Rock\" or the \"Company\")\nAnnouncement re Jupiter Mines Limited\nDated: 31 January 2011\nRed Rock notes the announcement made by its 5.2% owned associate Jupiter Mines Limited (ASX:JMS) (\"JMS\") today, in which JMS announced an A$150m fundraising to advance its steel feed corporation strategy. A$100m will be used to develop Jupiter's 49.9% owned Tshipi Borwa (\"Tshipi\") project which is located in the Kalahari Manganese Field in South Africa and A$40m to fast-track the 100% owned Mt. Ida Manganese Magnetite Project (\"Mt. Ida\"), and the associated small Mt. Mason DSO Iron Project, located in the Central Yilgarn Region of Western Australia. The capital raised also provides some A$10m for JMS working capital purposes. Red Rock maintains a 1.5% gross production royalty in Mt. Ida. As a result of the fundraising, which is conditional in part upon the approval of JMS shareholders, Red Rock's interest in 83,734,165 JMS shares will be diluted to approximately 4.6% JMS's enlarged issued share capital.\nThe full text of the JMS announcement together with JMS's Quarterly Activities and Cash Flow reports, can be accessed via http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS.\nEnquiries:\n\n\n\n\nAndrew Bell\n\n\n0207 402 4580 or \n07766 474849 \n\n\nRed Rock Resources plc\n\n\nChairman\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSandra Spencer\n\n\n0207 402 4580 or\n07757 660 798 \n\n\nRed Rock Resources plc\n\n\nPublic and Investor Relations\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeter Trevelyan-Clark/ Ben Jeynes\n\n\n020 7444 0800\n\n\nReligare Capital Markets\n\n\nNominated Adviser\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNick Emerson\n\n\n01483 413500\n\n\nSimple Investments Ltd\n\n\nBroker\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLLFLLLLILVIL \n ","length":5260,"tagName":"div"}]