JMS - Jupiter Mines

[YOUNG_TRADER]

HI peeps, hmm had a look at the mkt earlier, JMS has seen a bit of selling including directors, well I'm just going to point out some facts and draw a conclusion,


Fact 1: What they have:
JMS's Iron Ore Grounds are very prospective, its Beasley River is surrounded by RIO/AQD ground, RIO is aggressively peggin ground here, this is what caught my attention in the first place, I think its only a mater of time before we see a farm-in / MOU here, with Native Title approvals granted its only a matter of time,

Mt Mason and the other recently pegged areas are also prospective avg 60% + Fe with low impurities (Silica etc) so impressive Sino Steel wants a piece of the action


JMS also has Nickel interests, Widgiemooltha, 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, now with BOOMING NICKEL prices, a Mid Cap Producer like MCR is bound to sooner or later look 'over its fence' into its neighbours backyard to see whats going on, again I believe we will see some sort of JV here

JMS also has Gold, Yes believe it or not this company also has gold,
Its Gold Deposit @ Klondyke is JORC 4.3Mt @ 2.1 g/t = 291,000 oz's Gold,


Fact 2: China Needs Iron Ore, Mincor needs more Nickel feed and Gold is well GOLD!
Hmmm let me see, 70% + price rise last year, another 19% this year, Chinas largest steel producer Sino Steel doing a JV, need I say anymore?

MCR wants to add reserves to its Nickel operations @ Redross and Mariners and with Nickel above $20,000 US/t why wouldn't it?

Gold is always good, $600 us/oz + = any resonable deposit viable, there are some comapanies whose only asset is a gold depsoit of comparable size who enjoy similar mkt caps

Fact 3: Its not what you know, its who you know.
The Iron Ore business is an expensive game, so you either have to have big bucks in the bank, strong cash flows, or a JV, JV is sometimes the best for a minnow as they are free to apply their efforts else where, ie free carried, who better then Sino Steel? Well don't forget their Beasley River ground is where RIO swooped on former minnow AQD

Nickel, same story, different company Mincor!

So lets review, JMS has 100m shares + 40m 20c options = 140m fully dilluted (all options exercised) so @ say 20c = a mkt cap $28m

Its options are worth $8m (once exercised)
Its gold is worth $15m (290k oz's @ $50 oz)

So mkt cap @ 20c = $28m less assets (Options $8m + gold $15m)
EV = $5m

So $5m is allocated as the value of its Nickel and Iron Ore interests,

This stock is so cheap its just not funny!
I strongly urge interested parties to look @ AusQuest AQD and see how it has progressed since RIO farmed into its Iron Ore projects, then look @ location of JMS's Beasley River and the RIO/AQD farm in area

Also see exactly who Sino Steel is and ponder why would such a mamoth farm into a minows project,

Look at JMS's Widgiemooltha and see its proximity and similarities in drilling results to Mincors (MCR) nickel deposits 'Redross' and 'Mariners'



Drilling results of Mt Mason expected soon!

Enjoy and ciao from me

 

[Sean K]

Concerned with the recent drop through .16c. Next support level is .11c!!

Will need a quick halt to the slide in metals for this to turn around, or the Sinosteal JV to come to fruition quick smart! Even that may not help with the short term lack of support.

Long term good play I reckon, but perhaps not for short term players right now?

I'll be buying big time if it hits .11c!

 

[3 veiws of a secret]

0.145 cents....says it all today! What do they say "dead cat bounce?" Either I'm buying VB again for the weekend ,or its James Squire dreaming for next week!
I think its time to buy more of this stock soon!

 

[Gspot]

Could it be the Sino Steel JV has soured, or are a few jumping ship because of the Directors selling a couple of days ago. Quite strange though, given the beat up from Y_T.

 

[ALFguy]

Could it be the Sino Steel JV has soured, or are a few jumping ship because of the Directors selling a couple of days ago. Quite strange though, given the beat up from Y_T.

Fingers crossed the Sino Steel JV is working out. Can't see how it would go sour tho, given the position JMS is in re land etc.

Low volume and trades though, so likely just a few worriers. Can't see this dipping too much, especially since the announcement is due very soon.

Not every trader reads this forum

 

[Gspot]

Would be nice to top up, but nab site is struggling at the moment. Probably a good thing.

 

[YOUNG_TRADER]

Keep the faith, so much money sidelined @ the moment,
Just ask yourself, how many of you are waiting for futher dip in this stock given mkt down turn to buy up more?


Once mkt picks up again (Mid June early July) your gonna be scrambling to get back in,


This stock is dirt cheap on fundamentals, it just lacks support because its still relatively unknown,

Drilling results should be out in the next 7-14days,

If your still worried/unsure wait for the results,

A few broker friends are buying up in 100k lots 'hoarding' it if you like, they will go a little mental (frenzy) if and when Sino Steel JV is signed,

 

[hypnotic]

Keep the faith, so much money sidelined @ the moment,
Just ask yourself, how many of you are waiting for futher dip in this stock given mkt down turn to buy up more?


Once mkt picks up again (Mid June early July) your gonna be scrambling to get back in,


This stock is dirt cheap on fundamentals, it just lacks support because its still relatively unknown,

Drilling results should be out in the next 7-14days,

If your still worried/unsure wait for the results,

A few broker friends are buying up in 100k lots 'hoarding' it if you like, they will go a little mental (frenzy) if and when Sino Steel JV is signed,

I am hanging in there too,i am pretty positive too and looking for another top up at a good price.

Just waiting for the drilling results, and hopefully the good news will be soon.

Hypnotic

 

[ALFguy]

Definitely time to top up. So Cheap!

Pretty sure the results will be in soon

 

[Sean K]

Correction probably not over yet so might get it cheaper. Maybe. Or, I'll miss it.

 

[ALFguy]

Correction probably not over yet so might get it cheaper. Maybe. Or, I'll miss it.

Probably true, but the correction doesn't seem to have affected this stock 'that' much....*looking for some wood to touch*.

 

[hypnotic]

Seems like very little volume... esepcially with drilling results due soon...

perhaps no one really cares about the MOU with Sino Steel???

or perhaps not enough people know about the company....

I guess i would not have known about the company if YT haven't posted it here...

It really needs a bit more positive news and exposure imo.

Hypnotic

 

[ALFguy]

or perhaps not enough people know about the company....

I guess i would not have known about the company if YT haven't posted it here...

It really needs a bit more positive news and exposure imo.

Hypnotic

Yup, I think this is the problem...
They've only had a little media exposure and a brief mention about the JV at Miningnews.net.

Saying that, they did have some big volumes around the JV time so as YT mentioned, there's probably money on the sidelines, just waiting for news.

This week please Jupiter....this week please

 

[3 veiws of a secret]

Well if my memory serves me well......during the mid 1970's(??) that led to the increase in oil price ,which in turn led to crazy inflation ,it seems exactly what's happening these days. During inflation ,I'm told ,it's the right time to pick up bargains,or should I say spend.
The Chinese folk must be aware of this ie >JV.So to say what is being said on this thread is more to do with wishful thinking,(yet I agree JMS is an interesting share to have in your spec. portfolio). The right time for this share to strike north is solely based on whether Sino are indeed deseprate for JMS.
My main concerns are,are they desperate for JMS?, I tend to think JMS is just a blip of the radar for Sino.
Finally to say that stockbrokers have missed JMS is not valid statement ,their software & research staff ,do not let them have shares sneak under their radar...........perhaps this one might be the Exocet that got away I hope so.

 

[spottygoose]

Re: JMS - Jupiter Mines - great announcement

Thank you to focus on SS...

JMS announcement out Mt Mason delivers high grade ore deposits.

MOUNT MASON IRON ORE PROJECT
Jupiter Mines Limited (ASX:JMS) is pleased to announce high grade iron ore
intercepts (including 30m @ 63.3% Fe) from initial first pass drilling program at its
Mt Mason iron ore project, located near Menzies in West Australia.
The Mt Mason iron ore project, as mentioned in previous ASX announcements is
located within trucking distance to the railway at Menzies and this gives Jupiter the
unique position of being economically close to the under-utilised railway which leads
directly to the under-utilised Port of Esperance.
In addition, Jupiter is already negotiating with the relevant infrastructure groups to
fast track the Mt Mason-Mt Ida iron ore projects.
• Jupiter’s initial 9-hole drill program, which totaled 543m, was designed to
only confirm previous surface rock-chip samples and Jupiter is very pleased
with the results.
• In Jupiter’s view the drill results have been most impressive with ore grade
iron intercepts include 29m @ 63.3 % Fe (MMRC107), 17m @ 60% Fe
MMRC105), 18m @ 61.44% Fe (MMRC108), 7m @ 63.84% Fe
(MMRC109), 8m @ 63.52% Fe (MMRC 106), 6m @ 60% Fe (MMRC101)
and 4m @ 61.48% Fe (MMRC 103).
• The low Phosphorous, Aluminum, Silica and Loss on Ignition (LOI) levels are
also totally acceptable to current steel mill requirements.
• Jupiter used certified XRF standards every 33 samples and these confirm the
quality of the assay results, see appendix 1.
• Wider intercepts are achieved if lower grade (50-60% Fe) assays are included
and many of these lower grade results could be considered mineable ore under
certain circumstances. Further work will be undertaken to confirm this.
• All ore zones are currently being re-checked through an independent assay lab
and these confirmatory assay results are pending.
• It is of considerable interest to Jupiter that recent surface mapping also noted
outcrops of additional massive hematite north of MMRC108. The majority of
this northern zone is covered by a thin layer of scree.
• Jupiter believes MMRC108 has confirmed the deposit thickens to the north
and MMRC103 shows the potential to the south. It must be noted that this was
a first pass drilling program and the next phase is intended to highlight Mt
Mason’s full potential, in addition to testing the unexplored 12km to the south.
• It is noted that Mt Mason has only been mapped over a 500m zone and from
Jupiter’s recent work it can confirm this zone to be more extensive to the north
and south.
• Mt Mason remains open in all directions making resource calculations
premature to deduce at this stage, however, mapping and drilling has
confirmed a high-grade iron zone that is continuous throughout the recent
drilling.
• High-grade iron mineralisation at Mt Mason is well known to be located
between two faults off the main iron rich BIF. Faulting similar to Mt Mason is
seen in numerous zones between Mt Mason and Mt Ida (over 12km) and these
areas must be considered as the highest priority exploration targets.
• During Jupiter’s recent field visit, hematite was noted of similar quality to Mt
Mason in two zones approximately 1.3km south of Mt Mason and 1.4km
towards the east. Both these zones are faulted portions of the iron rich BIF and
require further fieldwork. Visually they appeared to be of massive hematite in
nature.
• All the identified faulted portions of the Mt Mason to Mt Ida BIF remain
untested and Jupiter will for the first time drill test all target zones in the
coming weeks.
• It is well known that the Mt Mason-Mt Ida trend (over 12km) has had little
exploration for iron ore and Jupiter feels it has the potential to host numerous
high-grade hematite deposits, similar to Mt Mason.
• Jupiter is already planning to ground truth the entire 15km trend.
• In 1959, the Geological Survey of WA confirmed during only one visit that Mt
Ida located 12km south from Mt Mason contained a massive hematite zone
with an average iron grade of 67% at surface. This is yet to be located by
Jupiter.
• it’s the exciting results from the first pass drilling program have encouraged
Jupiter to commission an independent structural interpretation of the main
trend and from this it will define all the faulting and structural offsets.
• Every possible part of the BIF identified as an iron ore target will be ground
truthed which will include mapping and rock chip sampling. This should
commence in the very near future.

 

[ALFguy]

All good.... esp the share price given the performance of resource stocks today!

Further positive results should see a go ahead with SS JV

 

[YOUNG_TRADER]

Well there it is folks, with avg grades of Iron Ore above 60% and low impurity levels the deposit is stacking up, there is probably a 90% chance of the Sino JV going through, which is good because it takes care of the project ie its almost like a farmout with JMS retaining a minority interest,

JMS can then concentrate on its Gold, Nickel and other Iron Ore dposits 'Brockman) particularly which is not covered by the Sino JV and is near RIO/AQD rounds,


Annoying timing though, 2 months ago this stock would have shot up to at least 30c level, oh well everything is stacking up just a matter of patience and wait for the market to take notice.


Enjoy!

 

[ALFguy]

I know it's across the board with most stocks today....but 0.115 ?!

GULP......

Not going to watch for a while, makes me feel safer somehow

Got to be a bargain now!

 

[hypnotic]

I know it's across the board with most stocks today....but 0.115 ?!

GULP......

Not going to watch for a while, makes me feel safer somehow

Got to be a bargain now!

The share looked very shaky in the morning.... down to 11 c ..... closed as a better price though...

Hopefully today will be the turning point...

Hpynotic

 

[lewstherin]

I exited JMS on stops this morning. The volume has been poor, and as such I find it difficult to gauge a true market value for this one. I'll be watching for the Sinosteel thing though...