JMS - Jupiter Mines
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Here are some rambling thoughts I just posted elsewhere -
This morning I have replaced the third of my holding I sold last week and am more than happy to ride out the storm.
Unless there is something major we don't know of then fundamentally JMS is way undervalued at these levels. I don't think there is any major bad news on the horizon. The worst case scenario in my opinion is average Beasley results - who cares this is one of the small strings in their bow. Even if there is no Chinese JV in sight -potential is still there for there to be someone else interested once more drilling is completed. We know the potential is there.
On that note, hidden away in the business "city beat" gossip section of the Courier Mail there was a couple of lines about Ken Talbot. It said: "This week Ken Talbot has been enjoying a spot of curry that only India can offer. he has been meeting with global steel magnates in Delhi for a major steel conference"..... He would be mad if he wasn't talking up the JMS iron ore now wouldn't he?
My gut feeling is we will get some sort of market update soon as directors are going to now there are alot of P*ssed off shareholders out there. Even if we get some average news I don't think the SP will be punished too much further - the nervous have gone now.
My hope is that if they have been holding off on releasing the Beasely results to release another bigger ann.at the same time they will now get their finger out and get on to it.
If you have a medium to long term view IMO this is GREAT buying.
Good luck to all.
This morning I have replaced the third of my holding I sold last week and am more than happy to ride out the storm.
Unless there is something major we don't know of then fundamentally JMS is way undervalued at these levels. I don't think there is any major bad news on the horizon. The worst case scenario in my opinion is average Beasley results - who cares this is one of the small strings in their bow. Even if there is no Chinese JV in sight -potential is still there for there to be someone else interested once more drilling is completed. We know the potential is there.
On that note, hidden away in the business "city beat" gossip section of the Courier Mail there was a couple of lines about Ken Talbot. It said: "This week Ken Talbot has been enjoying a spot of curry that only India can offer. he has been meeting with global steel magnates in Delhi for a major steel conference"..... He would be mad if he wasn't talking up the JMS iron ore now wouldn't he?
My gut feeling is we will get some sort of market update soon as directors are going to now there are alot of P*ssed off shareholders out there. Even if we get some average news I don't think the SP will be punished too much further - the nervous have gone now.
My hope is that if they have been holding off on releasing the Beasely results to release another bigger ann.at the same time they will now get their finger out and get on to it.
If you have a medium to long term view IMO this is GREAT buying.
Good luck to all.
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Moving strong this morning.
This ones been heading in the wrong direction of late (and I've been holding for a while!). Direct link didnt work for me for the BRR but if anyones interested click on
http://www.brr.com.au/JMS/jupiter-mines-limited
and its the top one. Nothing new really, now sounds like maybe June (!) before anything new from Beasley River + Brockman.
http://www.brr.com.au/JMS/jupiter-mines-limited
and its the top one. Nothing new really, now sounds like maybe June (!) before anything new from Beasley River + Brockman.
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JUPITER MINES EXPANDS ITS NICKEL POSITION IN
WIDGIEMOOLTHA, WA
The Jupiter board are pleased to inform the market that it has signed a Heads of Agreement to purchase the
Dordie South Nickel Project from Western Resources and Exploration Pty Ltd for the following consideration.
The Purchase is made up of three payments:
1. $20,000 payable to the Vendor upon signing of the Heads of Agreement
2. $50,000 payable to the Vendor after three months of signing.
3. $50,000 payable to the Vendor after six months of signing.
4. 2.5% Net Smelter Royalty
SUMMARY
The Dordie South nickel project is located 800m south-southwest of the planned Dordie North open pit and
1,200m south west of Mincor’s Miitel nickel operations.
Jupiter is about to commence a ground magnetic survey (SQUID) once the work at Jupiter’s Widgie West
nickel project has been completed.
The Dordie South nickel project is situated on the eastern limb of the Widgiemooltha Dome and contains the
nickel-endowed Widgie 3 and Dordie Rocks ultramafic contact. The contact hosts a complex of felsic
porphyritic dykes which commonly obscure nickel mineralization at the Dordie Rocks nickel prospect.
Field investigations and Landsat imagery indicate that the area consists of dominated north-northwest trending
basaltic ridges in the west and ultramafic rock exposures to the east (Figure 3). Thin (2-4m) Tertiary colluvium
covers low lying areas. The south-eastern corner of the lease is covered with thin (2-3m) lake sediments
deposited by Lake Zot.
The recent RC drilling at Widgiemooltha has been completed and although no ore grade nickel mineralisation
was encountered, numerous nickel and associated mineral haloes were intersected.
Jupiter is still waiting re-assaying of several RC drill holes and previous diamond drill core from the Cassini
nickel discovery.
Downhole EM work on the recent RC drilling has located additional off-hole responses that need following up
in the next drilling program.
JUPITER MINES LIMITED page 2
The ground TEM survey (SQUID) is almost completed, which included the main Widgiemooltha nickel
project, Widgie West nickel project and the Dordie South nickel project.
Jupiter has already started to re-assess the Cassini nickel discovery and has interpreted the nickel mineralistion
to be “serp-serp” style. Jupiter believes there is potential for the discovery of a moderate sized NiS deposit.
The geology around the massive NiS drill intersection requires diamond drill core work to further enhance the
understanding of the structural geology in this area.
The massive NiS drill intersection was in a “serp-serp” position and represents a remobilized lens of massive
NiS. We believe there is a good probability of finding NiS in the conventional basal contact position proximal
to the intersection in JWDDH003.
Information On Serp Serp Ore Styles.
The typical position of massive sulphide ore in a komatiitic nickel sulphide deposit, and in shoots and trends
within a mineralised belt, is for the sulphide to occupy the disconformity between the komatiitic lava and its
underlying substrate. This is known as contact ore.
In most cases, for instance at the type-locality Kambalda Dome, the contact ore sits upon the footwall basalt,
and is flanked by sulphidic and graphitic sediment with which it can be structurally comingled or grades
laterally into (eg; Wannaway). However, it is not unknown for basal contact ore to be developed on a basement
of felsic volcanics, as at Emily Ann and Maggie Hays, or sedimentary formations thick enough to resist the
thermal erosion of the main lava channel, an example being in the region of the Blair nickel deposit, on the
Pioneer Dome.
Other ore types, which do not sit on the basal contact include:
• Interformational sulphides; So-called serp-serp ore which is developed off a thrust pinchout, or via
remobilisation of massive sulphide along a shear surface or thrust which drags ore up off the contact
into the serpentinitised komatiite. Serp-serp ore may, in some cases, be similar to interspinifex ore, the
diagnostic spinifex textures often absent due to thermal erosion or metamorphic overprint, and can
only be determined as such by comparison of chemistry of the ultramafics above and below.
For and on behalf of the directors of Jupiter Mines Limited
Robert Benussi
Company Secretary
& CFO
Competent Person
The information in this announcement that relates to Exploration Results is based on information compiled by Mr
Jeremy Snaith who is a Member of the Australasian Institute of Mining and Metallurgy. Jeremy Snaith has sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity
that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Jeremy Snaith consents to the inclusion in
the announcement of the matters based on his information in the form and context in which it appears.
WIDGIEMOOLTHA, WA
The Jupiter board are pleased to inform the market that it has signed a Heads of Agreement to purchase the
Dordie South Nickel Project from Western Resources and Exploration Pty Ltd for the following consideration.
The Purchase is made up of three payments:
1. $20,000 payable to the Vendor upon signing of the Heads of Agreement
2. $50,000 payable to the Vendor after three months of signing.
3. $50,000 payable to the Vendor after six months of signing.
4. 2.5% Net Smelter Royalty
SUMMARY
The Dordie South nickel project is located 800m south-southwest of the planned Dordie North open pit and
1,200m south west of Mincor’s Miitel nickel operations.
Jupiter is about to commence a ground magnetic survey (SQUID) once the work at Jupiter’s Widgie West
nickel project has been completed.
The Dordie South nickel project is situated on the eastern limb of the Widgiemooltha Dome and contains the
nickel-endowed Widgie 3 and Dordie Rocks ultramafic contact. The contact hosts a complex of felsic
porphyritic dykes which commonly obscure nickel mineralization at the Dordie Rocks nickel prospect.
Field investigations and Landsat imagery indicate that the area consists of dominated north-northwest trending
basaltic ridges in the west and ultramafic rock exposures to the east (Figure 3). Thin (2-4m) Tertiary colluvium
covers low lying areas. The south-eastern corner of the lease is covered with thin (2-3m) lake sediments
deposited by Lake Zot.
The recent RC drilling at Widgiemooltha has been completed and although no ore grade nickel mineralisation
was encountered, numerous nickel and associated mineral haloes were intersected.
Jupiter is still waiting re-assaying of several RC drill holes and previous diamond drill core from the Cassini
nickel discovery.
Downhole EM work on the recent RC drilling has located additional off-hole responses that need following up
in the next drilling program.
JUPITER MINES LIMITED page 2
The ground TEM survey (SQUID) is almost completed, which included the main Widgiemooltha nickel
project, Widgie West nickel project and the Dordie South nickel project.
Jupiter has already started to re-assess the Cassini nickel discovery and has interpreted the nickel mineralistion
to be “serp-serp” style. Jupiter believes there is potential for the discovery of a moderate sized NiS deposit.
The geology around the massive NiS drill intersection requires diamond drill core work to further enhance the
understanding of the structural geology in this area.
The massive NiS drill intersection was in a “serp-serp” position and represents a remobilized lens of massive
NiS. We believe there is a good probability of finding NiS in the conventional basal contact position proximal
to the intersection in JWDDH003.
Information On Serp Serp Ore Styles.
The typical position of massive sulphide ore in a komatiitic nickel sulphide deposit, and in shoots and trends
within a mineralised belt, is for the sulphide to occupy the disconformity between the komatiitic lava and its
underlying substrate. This is known as contact ore.
In most cases, for instance at the type-locality Kambalda Dome, the contact ore sits upon the footwall basalt,
and is flanked by sulphidic and graphitic sediment with which it can be structurally comingled or grades
laterally into (eg; Wannaway). However, it is not unknown for basal contact ore to be developed on a basement
of felsic volcanics, as at Emily Ann and Maggie Hays, or sedimentary formations thick enough to resist the
thermal erosion of the main lava channel, an example being in the region of the Blair nickel deposit, on the
Pioneer Dome.
Other ore types, which do not sit on the basal contact include:
• Interformational sulphides; So-called serp-serp ore which is developed off a thrust pinchout, or via
remobilisation of massive sulphide along a shear surface or thrust which drags ore up off the contact
into the serpentinitised komatiite. Serp-serp ore may, in some cases, be similar to interspinifex ore, the
diagnostic spinifex textures often absent due to thermal erosion or metamorphic overprint, and can
only be determined as such by comparison of chemistry of the ultramafics above and below.
For and on behalf of the directors of Jupiter Mines Limited
Robert Benussi
Company Secretary
& CFO
Competent Person
The information in this announcement that relates to Exploration Results is based on information compiled by Mr
Jeremy Snaith who is a Member of the Australasian Institute of Mining and Metallurgy. Jeremy Snaith has sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity
that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Jeremy Snaith consents to the inclusion in
the announcement of the matters based on his information in the form and context in which it appears.
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What does that mean?
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Having fallen to 18 cents JMS are back close to the start, bought back in again.
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ChartChat has JMS as their chart of the week - here is what they had to say:
JMS after a powerful surge has retreated back onto support and the 200 DMA (red line). This price spike also provides us with a hint that further momentum moves are possible, JMS has developed divergence with the Stochastics (blue arrow) indicating a swing higher on a break of $0.215 is due with a possible target of $0.50.
JMS after a powerful surge has retreated back onto support and the 200 DMA (red line). This price spike also provides us with a hint that further momentum moves are possible, JMS has developed divergence with the Stochastics (blue arrow) indicating a swing higher on a break of $0.215 is due with a possible target of $0.50.
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Hopefully, that drop to 18 cents will prove to have been a great opportunity.
The 3rd Quarter Results show impressive iron ore readings at Brockman; encouraging results from the drilling programme at Klondyke; drilling start at Beasley; and target generations at Leonora.
The 3rd Quarter Results show impressive iron ore readings at Brockman; encouraging results from the drilling programme at Klondyke; drilling start at Beasley; and target generations at Leonora.
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looks like 25c is the main resistance here before we see jms back to 30c area.
with other iron ore shares up (yml, umc,etc), jms will sure follow up the trail.
with other iron ore shares up (yml, umc,etc), jms will sure follow up the trail.
Kipp
Lord of the Ledgers
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you could also include PMM and MGX in there... any reason for their current rally? (I know that the new contracts on ore prices come into effect as of April but surely thats nothing to get excited about?)
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I'm not sure but I would imagine that the Brockman permit may not be very far away from being granted. That would be a huge boost as they were going to drill Brockman and Central Yilgarn at the same time and these are what JMS is all about.
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it did take UMC around 2 years to get there tenements granted so i wouldnt expect them anytime soon.
i dont see how fast tracking them can bypass the DOIR process which is extremely slow and infuriating
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I agree with you DJ - however I am (probably stupidly) giving some credence to the fact that management said they expected approvals by now.
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What is going on with this company? I heard that two of their senior execuitives have been arrested in Dubai.Has anyone heard more on a MOU with any O/S interest?
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What is going on with this company? I heard that two of their senior execuitives have been arrested in Dubai.Has anyone heard more on a MOU with any O/S interest?
Hi Professor,
I've found the following story from another forum. I cannot verify the integrity of such news though. Let's us all hope that this will not have too much effect on the SP.
STORY
Two former Perth stockbrokers and directors of minerals explorer Jupiter mines have been locked up in the UAE after clashing with airline staff in the first class section of a flight from Sydney.
Businessman David Evans and Jeremy Snaith are understood to have been arrested by UAE police after an incident on April 26 in which the Abu-Dhabi based Etihad Airways alleges members of its staff were abused.
An Australian diplomatic official in Abu Dhabi refused to discuss the mens plight, saying it would be a breach of Federal privacy laws. The UAE consulate declined to comment.
One source said yesterday the charges included unruly and disruptive behaviour on an aircraft.
Business sources said Mr Evans, 37, was released on Wednesday after Dubai-based WA businessman Mick Shemasian put up bail money. But Mr Snaith, 39, was still in custody.
Both men were stockbrokers in Perth last decade before moving to Sydney, where they are now executive directors of Jupiter and promote its WA-focused iron ore and nickel exploration activities to investors.
Mr Snaith's brother Chris, who is managing Jupiter's HQ, did not return calls yesterday.
One source said the incidents occurred after the men put on pyjamas supplied to first class passengers on the 13 hour flight from Sydney to Abu Dhabi. Most crew on the airline are not UAE citizens and are recruited worldwide. But flights to Abu Dhabi are covered by UAE laws, a mixture of civil, criminal and Islamic Sharia laws.
An Etihad spokesman refused to discuss the charges, saying it would wait for the court decision. It treated such incidents 'extremely seriously'. The safety and security of customers and staff was top priority, he said.
END
JT
