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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (39035)	6/25/2009 11:00:15 AM
From: LoneClone	Read Replies (1) \| Respond to of 193482

Red Rock Resources receives three manganese tenements; to transfer into Jupiter Mines proactiveinvestors.co.uk Mineral exploration and investment company, Red Rock Resources (AIM: RRR) confirmed this morning that it had received three additional tenements in Western Australia prospective for manganese. The three tenements, in addition to one already held by Red Rock, form the second phase of an agreement between Pallinghurst Resources and Jupiter Mines (ASX: JMS). The first phase saw Pallinghurst inject capital into Jupiter Mines while Red Rock vended its iron ore exploration interests in Australia in return for equity. Red Rock currently holds a 15.2% interest in Jupiter, while Pallinghurst holds 26%. The second phase will see Red Rock Resources vend its Oakover Project, which includes four tenements north of Consolidated Minerals Woodie Woodie Manganese Mine in Western Australia into Jupiter Mines, subject to shareholder approval. Assuming Jupiter Mines exercises the option, Red Rock Resources and Pallinghurst Resources will be issued approximately 54.1 million and 26.8 million shares respectively, increasing their combined holding in Jupiter to 55.5%.