JMS - Jupiter Mines
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Just 2 weeks ago this stock was around 8c. The market nose dived big time yesterday. JMS is one of the few that is green in my portfolio so it is likely that there is some profit taking. Those sellers may well have been in at 8c or below so would be sitting on fantastic profits.
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Iron Ore spot prices up!
Know wonder the chinese want to take control of Iron Ore projects, they're tired of price hikes!
Rio Tinto, BHP expected to benefit from iron ore price rise
By Stephen Bell
Of DOW JONES NEWSWIRES
PERTH (MarketWatch) -- Anglo-Australian miners Rio Tinto Ltd. (RTP) and BHP Billiton Ltd. (BHP) are expected to enjoy a major iron ore profit windfall in the next 12 months after contract prices for the steel-making ingredient rose 19% in Europe, analysts said Tuesday.
The deal, reached Monday between Brazil's Cia. Vale do Rio Doce (RIO), or CVRD, and German steel maker Thyssen Krupp Stahl AG, is likely to be duplicated in the Asian market, where Rio and BHP are the biggest suppliers, analysts told Dow Jones Newswires.
Though dwarfed by last year's 71.5% price hike, the latest increase is at the upper end of market expectations, they said. It should provide a multibillion dollar export boost to Australia as demand for iron ore rises in Asia because of China's rampant industrial growth.
Rob Clifford, an analyst at ABN AMRO, expects the European price settlement to flow through to BHP and Rio Tinto in the "next couple of weeks."
"CVRD is the world's largest producer and has settled first," Clifford told Dow Jones Newswires.
"They have contracts in Asia and obviously would like to roll that same price into Asia. So I'd assume that BHP and Rio Tinto will get a similar number," he said.
ABN had been predicting a 10% price increase for the Japanese fiscal year that started April 1, 2006. Market forecasts ranged from 10% to 20% Clifford said.
"It is a significant settlement between a major seller and its customer, and we are still in discussions with our customers," a Rio Tinto spokeswoman told Dow Jones Newswires. A BHP spokeswoman declined to comment.
In early afternoon trade, BHP and Rio Tinto shares were both down around 2.5% after metal prices fell overnight.
Normally when iron ore prices are settled first in Europe, the same price changes eventually trickle through to the Asian market, says Rob Brierley, an institutional adviser for Hartleys.
"So it is certainly a positive for Rio and BHP," he said.
However, he believes that the price rise is not "set in concrete" as Arcelor, Europe's biggest steel maker, is yet to agree to the increase.
This is also the first year that China - outspoken in its efforts to limit the iron ore price increase - has taken over from Japan as the lead negotiator in Asia.
"It is not a fait accompli that the 19% increase will be mirrored in Asian markets, but it is quite a definitive line in the sand," Brierley said.
ABN's Clifford doesn't expect the deal to result in major upgrades to analysts' profit forecasts for BHP and Rio. "It would be in the order of a percent or two (change) for the majors, in my view," he said.
Driven by high prices for iron ore and other commodities, BHP's profit is expected to jump by nearly 50% to around US$9.5 billion in the fiscal year ending June 30, 2006, while Rio Tinto's earnings may rise 30% to around US$6.5 billion in calendar 2006, analysts believe.
Earlier this year the Australian Bureau of Resource Economics forecast that the value of Australian iron ore exports will rise 26% to A$18 billion in the fiscal year ending June 30, 2007.
Know wonder the chinese want to take control of Iron Ore projects, they're tired of price hikes!
Rio Tinto, BHP expected to benefit from iron ore price rise
By Stephen Bell
Of DOW JONES NEWSWIRES
PERTH (MarketWatch) -- Anglo-Australian miners Rio Tinto Ltd. (RTP) and BHP Billiton Ltd. (BHP) are expected to enjoy a major iron ore profit windfall in the next 12 months after contract prices for the steel-making ingredient rose 19% in Europe, analysts said Tuesday.
The deal, reached Monday between Brazil's Cia. Vale do Rio Doce (RIO), or CVRD, and German steel maker Thyssen Krupp Stahl AG, is likely to be duplicated in the Asian market, where Rio and BHP are the biggest suppliers, analysts told Dow Jones Newswires.
Though dwarfed by last year's 71.5% price hike, the latest increase is at the upper end of market expectations, they said. It should provide a multibillion dollar export boost to Australia as demand for iron ore rises in Asia because of China's rampant industrial growth.
Rob Clifford, an analyst at ABN AMRO, expects the European price settlement to flow through to BHP and Rio Tinto in the "next couple of weeks."
"CVRD is the world's largest producer and has settled first," Clifford told Dow Jones Newswires.
"They have contracts in Asia and obviously would like to roll that same price into Asia. So I'd assume that BHP and Rio Tinto will get a similar number," he said.
ABN had been predicting a 10% price increase for the Japanese fiscal year that started April 1, 2006. Market forecasts ranged from 10% to 20% Clifford said.
"It is a significant settlement between a major seller and its customer, and we are still in discussions with our customers," a Rio Tinto spokeswoman told Dow Jones Newswires. A BHP spokeswoman declined to comment.
In early afternoon trade, BHP and Rio Tinto shares were both down around 2.5% after metal prices fell overnight.
Normally when iron ore prices are settled first in Europe, the same price changes eventually trickle through to the Asian market, says Rob Brierley, an institutional adviser for Hartleys.
"So it is certainly a positive for Rio and BHP," he said.
However, he believes that the price rise is not "set in concrete" as Arcelor, Europe's biggest steel maker, is yet to agree to the increase.
This is also the first year that China - outspoken in its efforts to limit the iron ore price increase - has taken over from Japan as the lead negotiator in Asia.
"It is not a fait accompli that the 19% increase will be mirrored in Asian markets, but it is quite a definitive line in the sand," Brierley said.
ABN's Clifford doesn't expect the deal to result in major upgrades to analysts' profit forecasts for BHP and Rio. "It would be in the order of a percent or two (change) for the majors, in my view," he said.
Driven by high prices for iron ore and other commodities, BHP's profit is expected to jump by nearly 50% to around US$9.5 billion in the fiscal year ending June 30, 2006, while Rio Tinto's earnings may rise 30% to around US$6.5 billion in calendar 2006, analysts believe.
Earlier this year the Australian Bureau of Resource Economics forecast that the value of Australian iron ore exports will rise 26% to A$18 billion in the fiscal year ending June 30, 2007.
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Lol Rafa I hope you respect me more than that, I'm not bailing this soon! Young Trader talks about gold mines all the time, but he IS a gold mine of stock market information. I seriously want him to come and work for me once I have my new office setup in 5 weeks!
But, no, I'm not selling, like spottygoose said, this is my one ray of light in a sea of red at the moment, and I'm really happy with the way JMS is doing in spite of these big commodities falls, this one is the least of my worries and I'm holding indefinitely, and if it happens to drop below 17 again and you see a big buy order, you'll know who that is!
But, no, I'm not selling, like spottygoose said, this is my one ray of light in a sea of red at the moment, and I'm really happy with the way JMS is doing in spite of these big commodities falls, this one is the least of my worries and I'm holding indefinitely, and if it happens to drop below 17 again and you see a big buy order, you'll know who that is!
ALFguy
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Very quiet this morning, only 1 trade.
Guess ppl are waiting for news......
Guess ppl are waiting for news......
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Hmm JMS has been scraping 15.5/16c today...soo much red on my portfolio at the moment I'm getting a little worried
The volumes have been really low on JMS the past few days...but still 15.5 is disturbing...
At the same time I'm fighting the urge to buy some more
The volumes have been really low on JMS the past few days...but still 15.5 is disturbing...
At the same time I'm fighting the urge to buy some more
ALFguy
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lewstherin said:At the same time I'm fighting the urge to buy some more
Ditto.... To buy or not to buy.
Sold out of a few positions this morning gripped by fear, but this is one I'm holding and intend to hold for a while.
I mean, how bad can it get?
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Lol those are some famous last words!ALFguy said:I mean, how bad can it get?
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Guys I'm not saying buy or sell or anything like that I'll just offer this to you,
I remeber in Oct mkt took a hard downturn, OXR went down to $1 PEM was under a $1 I think and so on, OXR reached $3.50 a few months later as did PEM, so if you are a believer that this is a temporary correction that may last 2-3weeks or so, then realise that once its out of the way, under-valued stocks will rocket,
An Iron play with a mkt cap of less than $10m that has an MOU with Sino Steel is heavily undervalued, IMO it should have a mkt cap of $50m or so comparable to peers such as IOH, RHI, AQD and so on.
Food for thought
I remeber in Oct mkt took a hard downturn, OXR went down to $1 PEM was under a $1 I think and so on, OXR reached $3.50 a few months later as did PEM, so if you are a believer that this is a temporary correction that may last 2-3weeks or so, then realise that once its out of the way, under-valued stocks will rocket,
An Iron play with a mkt cap of less than $10m that has an MOU with Sino Steel is heavily undervalued, IMO it should have a mkt cap of $50m or so comparable to peers such as IOH, RHI, AQD and so on.
Food for thought
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There has been an annoucement today about the leasing of additional iron ore leasese to significantly increase the scale of the Mt Mawson deposit, where they have the MU with Sino Steel.
The share price has moved up a little today. I think it is just about the break out significantly!
The share price has moved up a little today. I think it is just about the break out significantly!
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It's going up 15.63%...currently sitting at $0.185. but bidding price stays at $0.17. Why such a big diff?
JT
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JMS) Acquisition of Mt Ida & Mt Hope Iron Ore Tenements
24-May
Jupiter Mines Limited has entered into an agreement with Red Rock Resources plc to take an option over Red Rock's Mt Ide and Mt Hope tenements.
Listed on the Alternative Investment Market (AIM) of the London Stock Exchange, Red Rock is a mineral exploration and development company focussed on advancing iron ore, uranium and manganese projects in Australia and East Africa.
The Mt Ida deposit adjoins Jupiter's Mt Mason project, advancing the company's strong iron ore presence in the highly prospective Yirgarn district of Western Australia.
The Mt Hope iron project is located approximately 60km from Menzies and is interpreted to contain iron rich BIF trending for over 10km under cover.
Under the MOU with Sinosteel Australia Pty Limited Jupiter will be obliged to offer Sino a participating interest in these tenements at a proportional cost to Sino.
24-May
Jupiter Mines Limited has entered into an agreement with Red Rock Resources plc to take an option over Red Rock's Mt Ide and Mt Hope tenements.
Listed on the Alternative Investment Market (AIM) of the London Stock Exchange, Red Rock is a mineral exploration and development company focussed on advancing iron ore, uranium and manganese projects in Australia and East Africa.
The Mt Ida deposit adjoins Jupiter's Mt Mason project, advancing the company's strong iron ore presence in the highly prospective Yirgarn district of Western Australia.
The Mt Hope iron project is located approximately 60km from Menzies and is interpreted to contain iron rich BIF trending for over 10km under cover.
Under the MOU with Sinosteel Australia Pty Limited Jupiter will be obliged to offer Sino a participating interest in these tenements at a proportional cost to Sino.
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Guys you may or may not have noticed that my presence has been minimal over the last few weeks, primary reason is Mid Year exams (Damn Uni!) but also coincides with mkt breather, ie no incentive to watch as volatility, Anyway Point is for the next month or so due to my exams my presence on forums shall be scarce but I wanted to give you guys a tip before I left,
We have seen many commodity orientated trends over the last few years, ie a period where a specific commodity becomes so attractive that you get a band wagon approach of companies participating in it, ie Uranium, but also Gold, Oil, Zinc etc etc
Well Iron Ore had a good run this time last year (MIS/POL) and I feel that given recent price increases (RIO/CVRD 19%) Iron Ore is set to take the stage again,
Supporting my views are the fact that out of the blue, CBH resources has announced divesifying into an Iron Ore Project, hmmm Zinc/Silver/Lead, soon to add Copper, Take Over to add gold and now wants to add Iron Ore?
Also Strike Resources, which was meant to be a Uranium Play has diversified into Iron Ore,
I think this is just the begining and before long we will see Iron Ore stocks rocket like we saw with Uranium,
JMS is so well poised to be re-rated, and its adding to its Iron Ore portfolio, given that drilling results of Mt Mason will be out soon (2 weeks) this is one Iron Ore stock to definately watch!
Enjoy peeps!
We have seen many commodity orientated trends over the last few years, ie a period where a specific commodity becomes so attractive that you get a band wagon approach of companies participating in it, ie Uranium, but also Gold, Oil, Zinc etc etc
Well Iron Ore had a good run this time last year (MIS/POL) and I feel that given recent price increases (RIO/CVRD 19%) Iron Ore is set to take the stage again,
Supporting my views are the fact that out of the blue, CBH resources has announced divesifying into an Iron Ore Project, hmmm Zinc/Silver/Lead, soon to add Copper, Take Over to add gold and now wants to add Iron Ore?
Also Strike Resources, which was meant to be a Uranium Play has diversified into Iron Ore,
I think this is just the begining and before long we will see Iron Ore stocks rocket like we saw with Uranium,
JMS is so well poised to be re-rated, and its adding to its Iron Ore portfolio, given that drilling results of Mt Mason will be out soon (2 weeks) this is one Iron Ore stock to definately watch!
Enjoy peeps!
ALFguy
Trading gives me a headache
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Directors dumped a few shares today and price dropped to 15c!
Wish YT was here with a few words of encouragement
Also read somewhere about Mr Costello's view on Iron Ore transport!! Little worrying for Iron Ore producers in WA?
Wish YT was here with a few words of encouragement
Also read somewhere about Mr Costello's view on Iron Ore transport!! Little worrying for Iron Ore producers in WA?
Sean K
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While there could be many reasons for directors to be selling, you'd think that most of them would be selling because they want to crystalise a profit, or stop a loss!! For a reason! It's not just before Xmas. Maybe it's a wife's birthday?
Worrying for YT followers. Can't get them right all the time, BUT I HOPE SO!
Good luck!
Worrying for YT followers. Can't get them right all the time, BUT I HOPE SO!
Good luck!
ALFguy
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Unless both directors wives have the same birthday?
100k for one and 510k for the other, quite substantial sales.
I'll stay optimistic and say they could be preparing for a big celebration!
:1zhelp:
100k for one and 510k for the other, quite substantial sales.
I'll stay optimistic and say they could be preparing for a big celebration!
:1zhelp:
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Hard to read JMS at the moment but two minor points:
1) both of the director sales were from their indirect holdings
2) the announcement re the iron ore hopefuls in the Midwest region not being allowed to truck their ore into Geraldton may have spooked some holders of JMS (Yilgarn region) who didn't realise that they're trucking east to nearby Menzies and then by rail to Esperance.
Not sure how relevant the above points are to the recent price action but worth pointing out anyway
Ed
1) both of the director sales were from their indirect holdings
2) the announcement re the iron ore hopefuls in the Midwest region not being allowed to truck their ore into Geraldton may have spooked some holders of JMS (Yilgarn region) who didn't realise that they're trucking east to nearby Menzies and then by rail to Esperance.
Not sure how relevant the above points are to the recent price action but worth pointing out anyway
Ed
ALFguy
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eddievanhalen said:
Two very very good points EddieV
I'm itching to top up at this price........
