This is an email which Red Rock Shareholders received todayDear...

This is an email which Red Rock Shareholders received today

Dear Colleagues and Shareholders,

We have had some questions about the Edison report in relation to our holding in Jupiter Mines Ltd (ASX:JMS). Edison reckon that Jupiter�s value on the basis of the Mt Ida magnetite project alone, assuming it proceeds, is US$0.72, compared with a current price of US$0.24.

What, we are asked, is the value of Jupiter�s manganese at Oakover, other W Australian assets, and in particular of the huge Tshipi manganese mine project in south Africa?

What is the true value of Jupiter?

The answer is that we do not know, but the more information that we have that we can share with you, the better, so that you can make your own minds up.

Curiosity has been further stimulated by OM Holdings�s recent presentation, where they appeared very positive about Tshipi. What does this mean for Jupiter, and therefore for Red Rock?

After all, even at these prices, where the Jupiter price has not moved for so long while the world has been changing around it, the value of Red Rock�s stake is nearly �15m, so this is an important component in our value.

You will be delighted to hear, then, that Jupiter has agreed to host a couple of telephone dial-ins tomorrow to give people a chance to ask questions of the directors, and is putting a new presentation up on the ASX and company websites.

Details of the phone-ins � one at 5 pm London time tomorrow, a time designed to suit European investors � are attached. If you are interested, you would be welcome.

As you know, we expect JMS to be one of the most dynamic forces in the mining industry over the next few years; a fact that has hardly yet registered on the market�s radar screen.

Andrew Bell