Jupiter announces intention to IPO. PRL commits to coloured gemstone strategy
Date20 Mar 2018
Over the past 12 months the Tshipi manganese mine has achieved record levels of production and profitability, and has made significant distributions to its shareholders, among which Jupiter Mines Ltd (“Jupiter”) holds 49.9%. The most recent distribution, via an equal access share buyback, has just been completed and was accepted by nearly 97% of shareholders, bringing to some AUD150 million the returns to Jupiter’s shareholders since the start of 2017.
The strong manganese prices and sound performance of Tshipi continue, and Jupiter has indicated the likelihood of a further and enhanced distribution in the next six months. PRL is presently an 18.4% shareholder in Jupiter and benefits accordingly.