Australian (ASX) Stock Market Forum

JMS - Jupiter Mines

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RickG said:
JMS in a trading halt. Placement??? Wasnt expecting one so this early. They only had a placement in July. Whats going on?

With more drilling results due soon, and with the rumours of a JV, why do this now?

And I bought some more yesterday.. :banghead:
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yeh i agree it is a stupid time for a placement especially when the share price is starting to get some upward trend :mad: . I just hope a JV comes along soon.
 
yesterday i thought a bottle of whisky was in my sights with a j/v announcement imminent. today i'm recycling water & spitting chips! the hazards of the game.
 
GWR's placement signalled they were ready for the next step towards actual mining. ie it was to sure up infrustructure and not just to provide funds for exploration. Thats why it was a positive placement.

To tell the truth I dont think JMS are ready for that next step ie they are still at the exploration stage. Purhaps a JV would change that... but then why not release news of a JV, get the SP higher and then do the placement. Even if the JV doesnt eventuate, I would have thought the SP would have still increased on drilling results.

The timing of this placement has me confused. Previous quarter exploration was $215k. For the previous 12 months it was $1.2m

Given cash at bank, it seems unusual that they would raise funds now unless something was in the wind (well thats what I am hoping).

In order of expected announcements, it seems unusual for them to raise cash now. Just cant quite get my head around it at the moment
 
If they're gearing up for some hard core drilling then its a ok with me,

However I will wait to see the terms of the issue before making a call,

I just wish these do-do's would approach a proper broker to do Cap Raising and get some corporate coverage in the meantime
 
Just got in from a brutal days work,& spotted JMS trading halt. My immediate thought was how many shares are they trying to place ? & if it's a container load!!!! Should I presume they are going out alone,and corking the JV?
 
MiningGuru said:
Maybe it is a placement from the JV partner? Not unusual for a partner to take a stake in the company.
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Hmm ive heard that from other forums as well. It was a bit strange how they wanted to do a placement especially when they did one not too long ago. Maybe it is a JV... and if that is the case... :alcohol:
 
Well I am hoping this is the case. I still think it is strange, but fingers crossed the market reaction will be positive.

Only one more sleep to go :p:
 
It is strange, JMS had made placements before and has never had to request a trading halt,

They requested one last to ann possible JV,

Without speculating too much its interesting to see that buying picked up just prior to halt, now if I were an insider I doubt I'd be buying up on news of a placement, IMO has to be more than placement, there must be some sniff of JV or something else

We'll know tomoz,


Good luck all ;)
 
it is an interesting development. maybe along the lines of GYN finalising a placement about 4 days ago then today announcing the hotly anticipated results of a drilling campaign.
 
YOUNG_TRADER said:
It is strange, JMS had made placements before and has never had to request a trading halt,

They requested one last to ann possible JV,

Without speculating too much its interesting to see that buying picked up just prior to halt, now if I were an insider I doubt I'd be buying up on news of a placement, IMO has to be more than placement, there must be some sniff of JV or something else

We'll know tomoz,


Good luck all ;)
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Goood point there how the buying picked up on the day before the trading halt. It does sound logical to be some kind of good news, and i definitely hope it is.

Can't wait ;)

Yes good luck to all!!!!!
 
Painful placement guys I know but it was with Pato's!!!!!!!

So believe me the pain was worth it, Pato's will start sending JMS info to all their Insto's (take a look at the Insto presentation JMS did, lists everything I've been saying about this stock, Iron Ore, Nickel, Gold etc)

I expect this to finally place JMS 'on the map' so to speak,

Pato's will soon release an investment view, so expect good things from now on!

Regards
 
true... that is silver lining...
but 14cents... after their big announcement that drove the shares to 22cents.... far out!!!

18 to 20cents would have been a fair placement in my book.

someone needs to be shot! :mad:
 
Rafa said:
true... that is silver lining...
but 14cents... after their big announcement that drove the shares to 22cents.... far out!!!

18 to 20cents would have been a fair placement in my book.

someone needs to be shot! :mad:
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haha on the upside at least these guys did it with a proper broker. I think the placement was a small price to pay for getting coverage so it can lead to a JV. Just wish these guys would have done it earlier on the last placement. :sheep:
 
YOUNG_TRADER said:
Painful placement guys I know but it was with Pato's!!!!!!!

So believe me the pain was worth it, Pato's will start sending JMS info to all their Insto's (take a look at the Insto presentation JMS did, lists everything I've been saying about this stock, Iron Ore, Nickel, Gold etc)

I expect this to finally place JMS 'on the map' so to speak,

Pato's will soon release an investment view, so expect good things from now on!

Regards
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From today's Australian. Perhaps the start of better things to come.

Jupiter Mines (JMS) 17c

JUPITER shares haven't exactly gone into orbit, but the planets are aligning for the West Australian iron ore hopeful after strong drilling results and a $1.26million share placement.

Jupiter yesterday reported first-stage resource calculations for its Central Yilgarn project of an inferred 1.8 million tonnes (61 per cent purity).

That's based on nine holes, which doesn't make for a full round of golf but is enough to conform the deposit to international (JORC) standards.

"It's a good start because we're only a third of the way through the Mt Mason-Mt Ida zone," says Jupiter technical director Jeremy Snaith.

"The next stage is to start drilling to prove-up 5-6 million tonnes."

Jupiter's master plan is to scoop up the ore at its Mt Mason and Mt Ida sites, crush it on site and truck it 100km down the road to Menzies.

From there, it's on to the railway to the Port of Esperance and on to the boats of the grateful Chinese steel mills.

Snaith says he's confident of establishing a 700,000tonnes-a-year operation from late next year, or early 2008.

On Criterion's back-of-the-envelope analysis, that would produce a net profit of about $17 million (EPS of 24c) at current prices.

Jupiter has also reported early but encouraging results at its Widgiemooltha sulphide nickel project near Kambalda and its Klondyke gold patch near Marble Bar. We maintain our SPECULATIVE BUY call, first ascribed at 18.5c on August 4.

Jupiter's market cap of $10.5 million pales against the $67 million valuation of Golden West Resources, a Midwest producer with a similar production plan (albeit on a bigger scale).
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