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JMS - Jupiter Mines

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Bout bloody time hey Doc?

Makes sense they control alot of the land in the area and have stakes in MDX and IRM if I'm not mistaken,

Given JMS was the most advance of the lot, it was always a question of when not if Red Rock would get involved,

They need to drill the Central Yilgarn Project and firm up a much much larger resource though
 
For once I may fill out my proxy form and back Red Rock if it comes to a vote. JMS does drag things out compared to quite a few explorers.

Though of late credit where credit is due things do appear to be moving.
 
pan said:
Interesting article about the RRR EGM.

http://http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=51716&sn=Detail

  • RRR is encouraging Jupiter to advance projects
Click to expand...

I would be too if I had any power to say so, all they seem to do is dick around with insignificant other projects. They need to focus on what the market wants right now and that is the iron ore.
I am with Red Rock on this one and I hope JMS takes their wishes on board and starts focusing on Yilgarn.
 
Red Rock Resources Is Looking To Act As An Iron Ore Consolidator In The Yilgarn District Of Western Australia


By Alastair Ford



On the desk at the reception as you walk into Andrew Bell’s offices, just opposite the new Rio Tinto building, is a dealer’s note for the acquisition of some Mindax shares. The offices are in a small unassuming muse tucked away behind Paddington station, and it’s only because the two-storey building is modestly distinguished with metallic nameplates that read ‘Greatland Gold’, ‘Regency Mines’, and ‘Red Rock Resources’ that you’d know from the outside that the whole setup isn’t the base for some aging dowager who hasn’t cleaned her net curtains for a while. You get the feeling Mr Bell has been in situ a whole lot longer than Rio Tinto. Whether he’ll outlast Rio is another matter.
One thing’s for sure, though. The small size of his companies means he can be a lot more fleet of foot when it comes to deal-making. The Mindax shares represent just the tip of the iceberg. Under the Red Rock banner Mr Bell is making all sorts of moves down in Australia to act as consolidator in manganese and especially in iron. It’s a big undertaking for a company that’s only capitalised – and not even in Australia – at just under £5.5 million.

But Mr Bell knows a thing or two about how to work markets. With Portman’s Koolyanobbing as his model, he’s hoping to stimulate a bit of corporate activity in Wetsern Australia’s Yilgarn area. The reason is that, in tune with the times, Mr Bell reckons that there’s too much small-time activity going on in the area, and that what’s needed is scale. Red Rock has its own ground in the district, of course. Three properties, Mount Alfred, Mount Ida, and Mount Hope, constitute a combined ground holding of over 200 square kilometres. Red Rock is already in partnership with Australian-listed Jupiter mines, in which it also holds an eight per cent stake. Mindax is another neighbour, and Red Rock holds eight per cent in that company too. Other local small-time operators include Iron Mountain Mining, Polaris Metals and Hawthorn Resources.

It’s not rocket science to work out the plan, but Mr Bell spells it out anyhow: “Our neighbours are too small. We are trying to act as a catalyst. If you get four or five of these companies together you’d also get Chinese interest.” It’s the old China story again, and no one can deny it’s worked pretty well in the past.

So what’s on offer? Well Jupiter has 2.2 million tonnes in the inferred category, but apart from that there’s not much for the Joint Ore Reserves Committee to get its teeth into. According to Mr Bell, the thinking at Mindax is that the company is sitting on 75 million tonnes of high grade haematite. But funding has been tight, so progress to date has been slow. This year things should get moving though, as the iron ore price continues to stimulate activity, Mr Bell injects a bit of cash here and there, and drilling starts to bring in some hard numbers. Whether Red Rock ultimately gobbles or gets gobbled up by one of its neighbours, or by a third party, only time will tell. But what with the stakebuilding that’s already been achieved, Mr Bell will certainly have some say as to the outcome.

In the meantime there’s also the manganese property to work up at Oakover, where the company has 695 square kilometres of ground, forty kilometres north of Consolidated Minerals’ Woodie Woodie mine. According to Mr Bell, the recent bidding war for Consolidated Minerals “shows you what people think of manganese”. Some say the eventual buyer overpaid, but the counter view is that the losing bidders were ultimately outclassed. Either way there’s plenty of demand for manganese, as the recent arrival of Spitfire Resources onto the scene has also demonstrated. Early shows at Oakover are good, although, as with the iron properties there’s much work to be done yet.
Click to expand...

This article was posted by Hopeless on another site and I believe it comes from a UK mining site. The original poster has been asked for the source.
 
Quarterly out. The only interesting thing I picked out was that drilling in the Yilgarn is due to kick off May/June.
 
Hey Doc,

Well if JMS don't get a move on it looks like RR will gobble them up I think its a good move consolidating the area but more importantly getting some good new blood on board JMS to help things along

Funny how JMS have the JORC yet trade at the same mkt cap if not less than MDX who has a huge target

I'd be looking for IRM to get tangled up in this consolidation as well
 
YOUNG_TRADER said:
I'd be looking for IRM to get tangled up in this consolidation as well
Click to expand...
Interesting that RRR made their move for JMS first. Not sure what it means and how the consolidation would take place.

RRR doesn't have the cash to do it themselves (5.5m gbp) - it'd have to be a friendly merger of sorts. As of today, the combined group would have a cap of $57m (JMS 52.6% of the total) and have $11.46m in cash. Any success in the drilling campaign about to start would significantly help JMS shareholders in any merger plans - at 30c JMS would represent about 63% of the group.
 
Either the market doesn't seem to mind the Red Rock play, or there's a bit of speculative money flowing into JMS with the drilling results coming soon.

The chart doesn't show very well, but the past two days bars have closed on the high on relatively strong volume. Target of the upside breakout is about 30c.
 

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Thanks for the chart. todays end was pleasing and a wee surpise given it has bounced around this area for a while. I agree :two things effecting price specualtion over results and Red Rocks involvement.

Recent gains across the IO sector wouldn't have hurt the SP.
 
Looking good, Jupiter announcing a $3.7million share placement with Global Chinese mob @ 25c. Money used to speed up explore and develop of iron ore projects.
How long have we waited for that, and how much has Red Rock to do with it?:)
 
Gspot said:
How long have we waited for that, and how much has Red Rock to do with it?:)
Click to expand...
I’m not sure Red Rock will be so keen on it. They're no longer the largest shareholder in the company. Their strategy was to consolidate JMS/IRM/MDX in the Mt Ida region (via merger, strategic alliance etc) to get the critical mass needed to attract Chinese interest and get a strong return on investment.

Now Haoning Group have 9.55% of the company, they are just 0.45% short of effectively having a blocking stake. They will also have a seat on the board.

My gut feel is this happened much sooner than Red Rock would have wanted - I'm sure they'd have preferred to get the ball rolling with the special general meeting they called earlier to consolidate their interest and perhaps get a seat on the board. In fact – at a guess I’d say the coming general meeting may have been the catalyst for Hoaning to make their play sooner rather than later.

A placement at 25c is good news for current retail holders – if 25c is where the money is, it might provide some impetus for some more appreciation from here.

As for what Red Rock do from here – well, whatever it is, it’s likely to keep the punters like you and I interested for a while yet.
 
From memory, didn't the Haoning Group also take a stake in Brockman Resources recently? Can anyone confirm?
 
I am really pleased to see Haoning on board.Gives a company that lost all credibility a massive vote of confidence and new respect.

With a major investor coming on board this should attract confidence in JMS and result in increased action on its SP.

Im looking forward to the future weeks.
 
doctorj said:
I’m not sure Red Rock will be so keen on it. They're no longer the largest shareholder in the company. Their strategy was to consolidate JMS/IRM/MDX in the Mt Ida region (via merger, strategic alliance etc) to get the critical mass needed to attract Chinese interest and get a strong return on investment.

Now Haoning Group have 9.55% of the company, they are just 0.45% short of effectively having a blocking stake. They will also have a seat on the board.
Click to expand...


Sounds like a white knight move to me to block Red Rock, pretty smart really, didn't think JMS had this sort of talent left,

Why those retarded directors keep selling 10k -30k parcels at 20c I don't know, we need to get rid of them!!!

The good news is having averaged down when it was in the mid teens I'm actually in profit again after sooo long lol
 
up today on strong support.

is there an iron ore discovery comming out soon or is it the recent placement,
 
Hmm its been a long time for this to recover

Might be due to the Chinese buying/placement

I've had far too many for far too long so booked some profits today

Company has alot of potential, it is by far the most advanced out of the MDX/RED ROCK/IRM hopefuls, yet it has probably also been the slowest mover in terms of activity

Also if I see one more Director sell for like 5k sahres I'm gonna give em an ear full :mad:
 
agro said:
up today on strong support.

is there an iron ore discovery comming out soon or is it the recent placement,
Click to expand...

There is also news due on a number of fronts. Red Rock and Chinese interest is on the IO and this is their focus now but also nickel results should be out soon.
 
well news out today

1) Acquiring Pardoo iron ore rights

2) RED ROCK bailing on their extraordinary meeting

Any one want to guess what this means.

Are the pissed JMS issued the shares to chinese interests blocking their possible consolidation of the JMS MDX IRM mt ida iron ore area???

are they going to pull a talbot now and screw the share price if they dump their parcel???

I dont think so but i think they will be watching the chinese with interest
 

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