https://www.miningweekly.com

Pallinghurst considers maiden dividend distribution

15th December 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Diversified miner Pallinghurst Resources expects to receive about $10-million, or R140-million, in March 2017, as part of Tshipi é Ntle Manganese Mining’s previously announced decision to distribute R1-billion to its shareholders.

In turn, Jupiter Mines – a 49.9% shareholder in Tshipi – has resolved to distribute $55-million to its shareholders.

Pallinghurst is an 18.45% shareholder in Jupiter Mines.

Pallinghurst would consider allocating a material portion of these funds as a maiden distribution to shareholders.

Tshipi benefited from its successful production ramp-up and the strong market environment, with the price of manganese increasing from below $1.50/t in January to recent prices of above $7/t, representing a fivefold increase.

Tshipi’s optimisation of its cost base has also contributed to its expectation of record profits during its financial year ending February 28, 2017.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.153 0.192s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: