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JMS - Jupiter Mines

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Average Iron Ore Grades at Beasley River are around 55% which is good but not great; It depends on the variations throughout the Tenement as 65% is nearer the high grade we are looking for. JMS are priced at bottom Dollar still and many may clamber on board as all news is good news at present.
 
To avoid any future confusion and to remind anyone here is exactly what JMS has going for it


1. Iron Ore projects
a) Beasley River/ Brockman near Rio and AQD(where Rio farmed in, AQD similar capital to JMS, sent AQD from 8c to 50c) avg grades here from surface samples have been 55%-60%Fe

b) Central Yilgarn High grade DSO Fe operation 60%+ Fe Currently in JV talks with the Chinese for development, JORC 1.8Mt @ 61% Fe at a very low EV of say $5.50/t = $10m, remember this is only a FIRST PHASE JORC at Central Yilgarn which is Greensfield (ie never explored before) and hence almost certain of JORC upgrade

2. NickelWidgiemooltha, which has returned some excellent grades of Nickel, but more importantly is completely surrounded by Mincors (MCR) nickel deposits 'Redross' and 'Mariners' MCR has openly stated that it needs to establish new reserves, well where better to look than in a pocket of land thats showing very good similarities to 2 of your huge deposits, recent Survey results show some very interesting anamolies

3. Gold A 300k oz JORC gold deposit, Klondyke which is JORC 4.3Mt @ 2.1 g/t = 291,000 oz's Gold, @ Low EV of $25 per oz = $7.5m
@ Avg EV of $50 per oz = $15m


VALUATION/NTA
The gold deposit alone at a low EV of $25oz adds $7.5m to JMS, when we add in the JORC Yilgarn Iron adds another $10m to JMS

So current asset backing is $7.5 + $10m + cash($2.5m) = $20m

(JMS has 75m shares + 35m 20c options which if exercised would raise $7m)

So Total asset backing would be $20m + $7m = $27m
with a fully dilluted issue of 110m Shares

110m shares with net assets $25m (less say $2m for exploration) Gives an NTA 22.5c ($25m/110m = 22.5c per share)

So we're getting Beasley/Brockman exploration potential (which I reckon is huge) + Widgie Nickel (again could be big) and finally any JORC upgrades to Central Yilgarn (almost a given) for free at prices under 22c!

Thoughts?
 
YOUNG_TRADER said:
To avoid any future confusion and to remind anyone here is exactly what JMS has going for it


1. Iron Ore projects
a) Beasley River/ Brockman near Rio and AQD(where Rio farmed in, AQD similar capital to JMS, sent AQD from 8c to 50c) avg grades here from surface samples have been 55%-60%Fe

b) Central Yilgarn High grade DSO Fe operation 60%+ Fe Currently in JV talks with the Chinese for development, JORC 1.8Mt @ 61% Fe at a very low EV of say $5.50/t = $10m, remember this is only a FIRST PHASE JORC at Central Yilgarn which is Greensfield (ie never explored before) and hence almost certain of JORC upgrade

2. NickelWidgiemooltha, which has returned some excellent grades of Nickel, but more importantly is completely surrounded by Mincors (MCR) nickel deposits 'Redross' and 'Mariners' MCR has openly stated that it needs to establish new reserves, well where better to look than in a pocket of land thats showing very good similarities to 2 of your huge deposits, recent Survey results show some very interesting anamolies

3. Gold A 300k oz JORC gold deposit, Klondyke which is JORC 4.3Mt @ 2.1 g/t = 291,000 oz's Gold, @ Low EV of $25 per oz = $7.5m
@ Avg EV of $50 per oz = $15m


VALUATION/NTA
The gold deposit alone at a low EV of $25oz adds $7.5m to JMS, when we add in the JORC Yilgarn Iron adds another $10m to JMS

So current asset backing is $7.5 + $10m + cash($2.5m) = $20m

(JMS has 75m shares + 35m 20c options which if exercised would raise $7m)

So Total asset backing would be $20m + $7m = $27m
with a fully dilluted issue of 110m Shares

110m shares with net assets $25m (less say $2m for exploration) Gives an NTA 22.5c ($25m/110m = 22.5c per share)

So we're getting Beasley/Brockman exploration potential (which I reckon is huge) + Widgie Nickel (again could be big) and finally any JORC upgrades to Central Yilgarn (almost a given) for free at prices under 22c!

Thoughts?
Click to expand...
Thanks for your analysis once again YT. Looks to have room to move doesn't it.

Any idea on management?
 
Youngtrader.....I agree with all you wrote re JMS....last week I bought a decent size holding of JMSO sub 3c.....There is another 8 weeks to go until maturity of these.

Only 14mn options mature in january 2007 the rest are later dated to there is an argument for working out the asset backing pershare on 72mn + 14mn shares for the short term.

Throwing in a bit of a premium for the obvious quality of the JMS assets and looking at the depth Bid to offer is was about 4 to 1 in favour of bids on Friday.

I would expect JMS to move up quite quickly next week - a trading range of 25c - 30c seems realistic to me in the short term with more to follow once the various JORCs are upgraded...

Good luck to holders..... we are quite obviously onto a winner with this one.

EB
 
hi guys

firstly, YT you mention "Low EV of $25 per oz = $7.5m" soemthing I am missing here, isnt the price of gold around $450US? so why the $25 figure? are you saying $25 net, after all production expenses are taken ino account.

Also, some of you are aware of my silly move, i bought these immediately after open after trading halt at 17,5c only to watchem slide to 15c and so sold them at 16c, only now to see them at 20c. ay ya yay. anyway i invested in INL and am kinda where i would be had i stuck to JMS. Nevertheless I still think JMS is a great potential, esp if a JV is announced with the chinese partner. So i am still looking to buy back in. but do i get in now? at 20c only to see them possibly bounce back from their historical 21c ceiling? and make the same mistake? or would you guys wait for confirmation, see if it breaks say 22 or 23c barrier.


bye all
 
toc bat......they buy side is increasing and the sell side disappearing atm...keep an eye on the oppies...leverage is 6X - you can always convert them in january if you want to hold long term.

But be quick.....JMS should fly this morning imo

EB
 
Toc

All I can say is JMS has passed 21c which is a new all time high

22-23c will be an outstanding breakout alert

Something is up!
 
Yea.. and thanks Young Trader. I jumped on this when you first mentioned it way back when. First bought at 18 cents, and then topped up several times under 15 cents. So I now hold a handy few (for me anyway).

I have been trying not to get too excited because last time I did it fell from around 19 cents back down to around 12 cents. I have nearly sold my holding a few times now, so glad I didnt.

Anyway thanks YT, looks like JMS is finally coming through.
 
Unless an Ann comes out today or vol goes crazy (which its not)

I'd expect to see it fall back and find support around 21c

Be interesting to see whats driving the SP
 
got my oppies at 2c......interesting to see how many 100k and 50k bids are going through.....I wonder if that is all from our accumulator????

EB
 
kennas said:
What did you buy yours for? $0.001? :eek:
Click to expand...

lol I wish (thats GGPO)

I got my JMSO at 1c and recently 1.5c so say 1.2c Avg

500K @ 5C JUST GOT BOUGHT

And now there's 2m buying @ 4c ????????
 
YOUNG_TRADER said:
lol I wish (thats GGPO)

I got my JMSO at 1c and recently 1.5c so say 1.2c Avg

500K @ 5C JUST GOT BOUGHT

And now there's 2m buying @ 4c ????????
Click to expand...


YT nice one yet again!
Champion :D

Hey are those 20c oppies?
The heads will run 2mrw i think.

Disc: i picked some up at 22c this morning.
 
nizar said:
YT nice one yet again!
Champion :D

Hey are those 20c oppies?
The heads will run 2mrw i think.

Disc: i picked some up at 22c this morning.
Click to expand...

nizar what do you maen by heads? as in the base stock?
 
why not get the options nizar? given YTs success with them so far, are they considered too volatile? unliquid?

thx
 
toc_bat said:
why not get the options nizar? given YTs success with them so far, are they considered too volatile? unliquid?

thx
Click to expand...

The spreads are criminal, seriously.
Bid at 5/Ask at 6.2 :eek:
 

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