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JUPITER MINES LIMITED (JMS)


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General Information
Company Name: Jupiter Mines Limited
Stock Code: JMS
Website: www.jupitermines.com
GICS Sub-Industry: Precious Metals & Minerals
Market Cap ($M): 171
Equiv. Shares (M): 2,282

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.071 $ 0.074 $ 0.075 $ 0.071 $ 0.075 114,300 $ -0.004  -5.333 %

Company Overview

Business Description:
Jupiter Mines Limited (JMS) is a mining explorer and producer focusing on iron ore and manganese exploration and development projects in Western Australia and South Africa. JMS currently focuses on Tshipi Manganese Projects (South Africa) and Magnetite Project in Central Yilgarn Iron Projects (Australia).

Strategy Analysis:
JMS has a strategy of becoming a major supplier of raw materials to the steel industry. Jupiter is on track to becoming a steel feed raw materials company, the Tshipi manganese project is set for production in mid 2012, and a feasibility study is underway on Mount Ida Magnetite and Mount Mason Hematite projects.. Jupiter Mines reported negative cash flow of $28.83m for quarter ended 31 December 2012. Operating cash flow for the period was $(25.31m). Payments for exploration and evaluation were $(6.26m). Investing cash flow was $(14.32m). Financing cash flow was $10.8m. Cash in hand at the end of the quarter was $83.2m.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F 54.1 2.3 360.0 3.3 -- 0.0 --
2013  F 10.2 0.5 -- 14.7 -- 0.0 --
2012  A -13.3 -0.7 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Flinders Mines (FMS) $66 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Jupiter Mines (JMS) $173 M -- -- 3.4510 -- 14.9020 3.3480 0.0000 0.0000 0.0000
Mirabela Nickel (MBN) $105 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Orocobre (ORE) $185 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Sirius Resources (SIR) $585 M -- -- -- -- -- -- 0.0000 0.0000 0.0000

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
JMS 0.20 15.9 0.33 0.12 750.0
Market 0.82 14.1 1.19 1.94 1.63
Sector 0.54 8.13 0.58 2.01 6.08

Directors
Name Position Start Date
Mr Brian Gilbertson Non-Executive Chairman 01 March 2010
Mr Paul Raymond Murray Non-Executive Director 20 August 2003
Mr Andrew Bell Non-Executive Director 19 May 2008
Priyank Thapliyal Non-Executive Director 04 June 2008
Mr Soocheol Shin Non-Executive Director 19 March 2012

Management
Name Position
Greg Durack Chief Executive Officer
Melissa North Chief Financial Officer,Company Secretary

Substantial Shareholders
Holding Name
246,674,875 (10.81%) EMG Jupiter, LP
141,170,747 (6.19%) HJM Jupiter L.P
323,461,584 (14.18%) POSCO Australia GP Pty Ltd
66,249,191 (2.90%) Posco Australia Pty Ltd
275,836,647 (12.09%) Investec Bank Limited
318,649,466 (13.96%) National Nominees Limited
380,236,843 (16.66%) Pallinghurst Steel Feed (Dutch) B.V.
141,170,746 (6.19%) FRK Jupiter L.P

Calendar of Events
Date Event
29 April 2014 Report (Quarterly)
30 January 2014 Report (Quarterly)
24 October 2013 Report (Quarterly)
20 September 2013 Report (Annual)
30 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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