Jupiter, an existing Pallinghurst Investmentthis is what you want from a partner. They aquired 49.9% stake in this project in 2007 and look what they have delivered;
Pallinghurst took Tshipi through the development stages from pre-feasibility through to completion, ramp-up and to steady state production. Tshipi is now one of the world’s largest, lowest cost and most valuable manganese mines, with over 100 years of resources. The mine is highly cash generative and has repaid approximately twice the capital cost of the mine to shareholders, via share buy-backs and dividends, within just 5–6 years of being in production. Pallinghurst relisted Jupiter on the Australian Stock Exchange in 2018 at a market capitalisation of US$600 million.
A further US$100 million in dividends has been paid since the IPO and the current yield of over 20% per annum is one of the best mining stock yields worldwide.
For the year ended 28 February 2019, Tshipi achieved exports of over 3.5 million tonnes, its best ever annual sales volume and the company reported EBITDA of ZAR5.8 billion.
VERY SIMILAR IN A LOT OF WAYS TO THEIR INTEREST IN NMX.... ;-)
GLTA longs