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JMS - Jupiter Mines

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Cryptic ann!
"Jupiter Mines Limited (“Jupiter”) wishes to advise that the Memorandum of Understanding (“MOU”) between Sinosteel Australia Pty Ltd (“Sinosteel”) and Jupiter dated April 28th 2006 will not proceed to the next phase of a joint venture agreement, following expiry of Sinosteel’s 30 day exclusive negotiating right under the MOU on 1 July 2006."

Does that mean that Sino Steel said we're not interested?
Or does that mean an agreement couldn't be reached in time and Sino is losing exclusive rights?


"Jupiter is pleased to advise it has now commenced negotiations with another
party to develop a joint venture agreement for the Mt Mason, Mt Ida and Mt Hope iron ore regional projects in Western Australia. The terms and conditions of the new Joint Venture are likely to produce a significantly better outcome for Jupiter compared with those contemplated within the Sinosteel discussions and MOU."


I would really like to know if Sino said no = Negative because the project isn't as good as it appears

or JMS said times up to Sino = Good indicates that project is even better than it appears and thats why they've already got another possible offer on the table, the question is from who?
 
So does this mean more waiting? :p:

If the project wasn't good would'nt Sino have just said no? And since they haven't maybe it's good for JMS? Then again if JMS is THAT good why didn't Sino scoop this up :confused:

I like the fact that JMS ALREADY has a new interested party, maybe JMS ditched Sino to go for something better? The words "Significantly better outcome for Jupiter" sounds nice :p: and the positive drilling results might have upped' JMS's bargaining power?

But then again i'm a newbie and know nothing - i'm going to hold, watch and learn :D
 
Lamborghini eyst & YT.........
Just reading the posts above ,gives me the impression JMS upped the anti here,with possibly the TP (3rd party ) whispering sweet things.
As I have said the Chinese folk are hard bargainers. Is this a correct time for JMS to lay down all the cards ,I don't think so. Afterall JMS have the location mapped out ,the rest just have to party to JMS ,I guess.
Cryptic I doubt it? ,this share has alot of milage yet before it hits blue sky.
Again I reiterate "PATIENCE" thanx for the posts!
 
Yeah who knows. I have to admit I got suspicious listening to the radio broadcast. I thought it strange PR to mention the Sino agreement in the way they did. SOmething about will go ahead if "they are happy or indeed if we are happy with the terms". Made me think that it was definately not a fait acompli.

So, where does that leave us? Do we infer that it didn't go ahead because of this much better "interest" and because results are so good. Could BHP be interested. Of did it not proceed because Sino were no longer interested.

The announcement hints at something but being a young company it is difficult to know what is truth and what is PR. So i guess it is a waiting game now, one where we might be rewarded even better than before or mighty P$##ed off. I might email the company re who pulled out of the deal.
 
I've actually spoken with David Evans - hinted to him that maybe they had this other party up their sleeve and can't talk about it because they were supposed to be only talking to Sino. Didn't get a bite. At one point he actually said " we decided not to go ahead" which I picked him up on but he wouldn't elaborate or let me read anything into it.

I found it hard to get anything our conversation at all other than they don't see it as a negative and it won't affect the timeline they had set down for quick development of Mt mason. It was all a bit weird actually. Sino were going to make their decision based on only 9 holes - they got the results (which couldn't have been any better really) and it doesn't go ahead. I'd say it's better than 50/50 that JMS are being very careful not to say anything that may contravene the terms of their exclusivity period with Sino - hard to know what's going on though.

Scoping study results due shortly.

Looks like being a longer term play now :( - they're certainly not expensive however you look at it and they will not need any significant capital in the near future as the new deal is expected to be along similar lines (fully funded). I'm happy to hold some longer term and see what eventuates.

Ed
 
kennas said:
The fact the sp hasn't imploaded is a good sign I think.
Click to expand...

I agree - but don't get too carried away just yet. When the announcement sinks in we might see some drop in the price.

When I first saw the announcement I was prepared to see a freefall in the price, particularly as the market has only been lukewarm to JMS over the past month anyway.

Hopeful it is onwards and upwards. YT generally knows his stuff.
 
YOUNG_TRADER said:
Cryptic ann!
"Jupiter Mines Limited (“Jupiter”) wishes to advise that the Memorandum of Understanding (“MOU”) between Sinosteel Australia Pty Ltd (“Sinosteel”) and Jupiter dated April 28th 2006 will not proceed to the next phase of a joint venture agreement, following expiry of Sinosteel’s 30 day exclusive negotiating right under the MOU on 1 July 2006."

Does that mean that Sino Steel said we're not interested?
Or does that mean an agreement couldn't be reached in time and Sino is losing exclusive rights?


"Jupiter is pleased to advise it has now commenced negotiations with another
party to develop a joint venture agreement for the Mt Mason, Mt Ida and Mt Hope iron ore regional projects in Western Australia. The terms and conditions of the new Joint Venture are likely to produce a significantly better outcome for Jupiter compared with those contemplated within the Sinosteel discussions and MOU."


I would really like to know if Sino said no = Negative because the project isn't as good as it appears

or JMS said times up to Sino = Good indicates that project is even better than it appears and thats why they've already got another possible offer on the table, the question is from who?
Click to expand...

Reading the annoucement sounds like it is a very positive news for JMS, like 3
views have said i think the chinese is trying to "rip-off" JMS in the deal as they really are hard barginers, especially when they know the fact JMS is such a small company.

To me it sounds we are looking at a triple whammy now, the 3rd party (hopefully BHP) is interested in all 3 of JMS's iron projects as a package... which i think would be great.

I am sure patience will definitely pay off here.

Looking forward to this fairy-tale of a company..

Hpynotic
 
Love the pun 'Might as well JUMP'........ Kennas your exact thoughts came to me as I read about the titbits of the JV release.
Assuming YT speaks his mind in saying this share should be snapped up & broadcasted to the fund managers, then I'm glad JMS is not on their radar ,this share would have been in the pestal & mortar dept,as it rolled of the press.
I would like to see this share slip to 9 cents,so I can pluck the lines off the shelf and into the shopping trolley.Hmmmmmmmm,need time to think. I just wonder if an Indian,Vietnamese company is snapping at Broom's heels :rolleyes:
 
Having a great deal of patience with JMS but surely since Sino are out the picture, they could disclose who the new party are?

At least the price is holding - for now.
 
I think that the fact that the price is holding is a good sign. Also, the results of the drilling were really good so the fact that jupiter announced that a better offer is on the table is very plausible. The waiting however is frustrating but hopefully our patience will be well rewarded. ANd at least the wait is not as hard as the one for those holding AUM right now!!
 
spottygoose said:
Tis like watching paint dry.... yet somehow more boring.
Click to expand...

i hear ya, but all good things come to those who wait. This one will do well when good news comes out. The fact that the JV with sino fell through did nothing to the price is testament to that.
 
I think like many I am still not 100% sure if JV fell through because Sino didn't like what they saw, or because Sino liked what they saw so much in a typical example of Chinese negotiating they wanted to have the cake and eat it too,

I am impressed that JMS director's have openly stated they want the company to retain as close to a 49% interest in the project as possible, also because the directors have quite a large holding of the company their interests a reclosely aligned with ours!


And yes, its very interesting that stock has just sat at these levels, shows 2 things,

1. Buyers aren't willing to commit until they get more info (I'm waiting to buy more pending news on Mt Mason/Ida/Hope

2. Sellers aren't really in a rush to sell


Company is still so cheap, still under $10m

Its interesting, I wonder if Sino would consider doing a hostile take over of the comapny, ie they know the projects good, they want a majority stake, they couldn't negotiate a proper outcome but they still want a majority stake, whats $10 - $15m to them? even $30m = 30c per share (including all options)
 
Yup, even though this one is dragging on with little or no news, I'm becoming for confident that there's a strong backing from holders.

As YT said, both buyer and sellers are waiting on news and not worrying about the short term 'unknown'.

Am keen to find out who the new 'potential' JV partner is, not to mention further results.
 
YOUNG_TRADER said:
Have been going over the company

On a comparative basis, its drilling results at Mt Mason are as good as GBG's (Gindabalees) Hematite and better than MIS (Midwests) Hematite Blue Hills Project,

So all in all it looks good Iron Ore Project looks the goods,



What does worry me a little is the company has the authority to issue another 20m shares at a price of no less than 8c by way of private placements, I see this as a really poor placement as it will raise maybe $2m before costs, they can't keep issuing script at such low levels and I certianly hope they won't, they are much better off waiting for market to appreciate the company (and thus let the stock appreciate and issuing the same scrip at a much higher price) according to the AGM resolution the issue needs to be finalised by 12 July


I am going to get some clarity to this soon,

It should be noted though at current prices of 13c the company has a mkt cap of around $8m
Click to expand...


Issued 5m at 13c, dissapointing that they keep doing these pissy private placements to insto's over at WTM Wilson Capital (I think thats the name)

Should do a fund raising with a proper broker, Hartleys or Pato's, so much more cred behind them,

At least it wasn't at 8c, still 15c would have been better,

And yet no update on JV
 
It appears alls quiet on the western front,

Its a little bit too quiet, at least its not dropping like a stone :rolleyes:
 
The following was in their ann so I expect we'll be hearing something soon..

A detailed exploration work program including iron ore sampling, geological mapping and interpretation has commenced at Mt Ida and Mt Hope. Assay results are pending and should be available mid-July 2006.

Hopefully they'll disclose who this new party is in line with the assay results.
 

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