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JUPITER Mines to list on ASX

Mining News - Published on Thu, 19 Apr 2018

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Jupiter Mines Limited announced that the listing of the Company on the Australian Securities Exchange. Jupiter’s Board and Management will ring the ASX bell in Sydney 18 April to commence trading in Jupiter shares at 11 AM. The Company is also pleased to announce the final results of Tshipi é Ntle Manganese Mining Proprietary Limited for the financial year ended 28 February 2018. Jupiter owns a 49.9% stake in Tshipi along with equivalent marketing rights.

FY2018FY2017H2 2018H1 2018
Sales (mt)3.342.271.781.56
Revenue (ZAR m)7,3343,7774,3572,977
EBITDA (ZAR m)3,1041,3541,9891,115
Net Profit After Tax (ZAR m)1,9018911,221680
Average 37% manganese price (US$/dmtu)4.744.315.503.98

The audit for the consolidated Jupiter group including the Jupiter marketing entity is ongoing and results will be announced per the ASX reporting timetable.

Mr Priyank Thapliyal CEO of Jupiter, commented that “the Tshipi operating and sales strategy for FY2019 is broadly similar to that of FY2018. The results for FY2018 when manganese prices averaged around USD 4.741 demonstrate the cash generation potential of Tshipi. With current prices at USD 7.231, significantly higher cash flow is being generated. Product has been sold through to April which will result in cash in the bank for Tshipi of approximately ZAR 1.5 billion at end of May. Should the markets hold, this raises the prospect of a substantial HY2019 distribution to Tshipi shareholders, and in turn to Jupiter shareholders under the Company’s dividend policy as stated in the replacement prospectus.”

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Posted By : Rabi Wangkhem on Thu, 19 Apr 2018
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