pallinghurst takes large stake in jms, page-17

Statement re Increased Holding in Jupiter




RNS Number : 9702U
Red Rock Resources plc
21 May 2008

Red Rock Resources plc
21 May 2008


Increased Holding in Jupiter Mines Limited

Red Rock Resources plc ('Red Rock' or the 'Company') the mineral exploration and
development company focused on advancing iron ore,
uranium and manganese projects in Australia and East Africa, announces that it has exercised
its options to acquire an additional 3,500,000
ordinary shares in Jupiter Mines Limited ('Jupiter') at a cash cost of AUD 700,000 which,
together with a further purchase of 57,275 shares
on 28 April 2008 at a cost of AUD 11,181, will bring its total holding to 14,904,453 ordinary
shares in Jupiter amounting to approximately
10.12% of the outstanding share capital of Jupiter.

In addition, Pallinghurst Resources Australia Ltd ("PR"), a private investment company
with whom Red Rock is deemed to be acting in
concert for the purposes of section 15(1) of the Corporations Act 2001 (Australia), is
interested in a further 2,228,339 ordinary shares in
Jupiter, bringing the combined Red Rock and PR holdings to 17,132,791 ordinary shares, or
11.63% of the outstanding share capital of
Jupiter. PR also holds 5,300,000 options exercisable into Jupiter ordinary shares at 20c per
Jupiter ordinary share.

Jupiter is a mineral exploration company listed on the Australian Stock Exchange with
stock code JMS. The Company first became a Jupiter
shareholder when on 29th May 2007 it announced that Jupiter had exercised an option to buy two
of Red Rock's iron ore tenements in Western
Australia for a consideration of AUD 250,000, a 1.5% production royalty, and 4,617,178 new
Jupiter shares. In its year ended 30 June 2007
Jupiter made a loss of AUD 6.898 million. At 31 December 2007 it had net assets of AUD 17.322
million including cash and cash equivalents of
AUD 5.828 million. Andrew Bell, chairman of Red Rock, was appointed a non-executive director
of Jupiter on 19 May 2008.

Red Rock continues to pursue a strategy of working with partners to promote the
consolidation of iron ore interests in the Central
Yilgarn. The Company believes that in increasing its holding in Jupiter at this time and
seeking board representation it will be able to
enhance the future assets and capabilities of the Company, and maximize the future value of
its shares.
Enquiries:
Andrew Bell
Chairman, Red Rock Resources plc
0207 402 4580 or 07766 474849

Alan MacKenzie/John Simpson/Peter Trevelyan-Clark
Blomfield Corporate Finance Ltd, Nominated Adviser
020 7489 4500

Ron Marshman / John Greenhalgh
City of London PR Limited, Public Relations
020 7628 5518
Updates on the Company's activities are regularly posted on its website,www.rrrplc.com.
END
This information is provided by RNS
The company news service from the London Stock Exchange

END


This was issued on the 21st May 2008 and states that RRR have 10.12% plus the approx. 7% for pallinghurst gives us 17% approx. Then there's the options...do they come into the equation???