PERTH (miningweekly.com) – Shareholders of ASX-listed Jupiter Mines on Thursday voted overwhelmingly in favour of the acquisition of a 49,9% stake in the Tshipi Kalahari manganese project, in South Africa, from a group of investors that include Brian Gilbertson’s Pallinghurst Resources.

The explorer would issue worth around A$245-million, to Pallinghurst and its coinvestors.

If the transaction is approved, Pallinghurst and its coinvestors would own about 85% of Jupiter.

Jupiter said in June, that despite the complexity of the transaction, which arose from a number of factors including both South African and Australian regulatory requirements, significant progress had already been made.

Jupiter noted that the share sale and subscription agreement was nearing completion, while the competent persons report on Tshipi was completed.

The feasibility study for the Tshipi Kalahari manganese project indicates that the project has the potential to produce between 2,2-million and 2,3-million tons a year of run-of-mine ore, grading 37% of manganese, exploiting 62-million tons of the larger resource.

Extensive exploration has defined resources of 163-million tons mineable by openpit methods. A further 110-million tons is expected to be accessible through underground mining methods.

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