Red Rock Chairman Andrew Bell comments: “The exceptional profit performance and solid sales growth at Jupiter continues. The 14.5% dividend announced reflects only the first half of the year, but prices so far remain robust in the second half, with 37% manganese ore FOB Port Elizabeth currently priced at US$5.92 per DMTU, so there appear to be good prospects for a final dividend.
As the Chief Executive of Jupiter says, Jupiter intends to position itself as the vehicle of choice for investors looking to achieve crude steel and evolving battery material exposure, and we look forward to further developments as this strategy unfolds.
Jupiter’s becoming a component of a key ASX Index is further welcome news that should result in this hitherto neglected stock becoming better recognised and known.”
Red Rock’s share of this distribution will be approximately £508,000, based on current exchange rates.
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