JMS jupiter mines limited.

5.26%

20.0¢

Ann: Jupiter welcomes Exxaro as prospective partner & shareholder, page-85

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Glutten

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19/05/25

16:15

Post #: 79103497
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Originally posted by skylight: ↑

For Exxaro to make a bid for JMS to gain full control of Tshipi, they will first need to wait for the decisions by Glencore and S32/Anglo as to whether they will either pre-empt or, in the case of Glencore, force Exxaro to buy their stake in Mokala. Those decisions wihich will need to be made by around 30 June this year (ie around 30 days and 30 business days as mentioned in the Exxaro Q&A) will significantly impact Exxaro's cash reserves and hence their ability to further consolidate Tshipi by making a bid for JMS.

As Jupiter shareholders we should welcome the pre-emption for both of the other assets as it would reinforce the view that manganese assets are undervalued in terms of future demand/supply outlook and that Exxaro would then be keen to get full control of the only manganse asset they will have acquiried, also having the extra cash they are not spending on Mokala and Hotazel.

One would expect that the respective advisors of Exxaro and JMS will have started the dance to position each company to move forward by the time the pre-emption decisions and approvals are received. In my mind there is no doubt that ultimately Exxaro will make a bid for JMS and, unless there is another party to come in between them to bid up the price, it will have to be around the 30-35 cents mark.

Let's hope that JMS management and Board do nothing silly to safeguard their jobs and deal with this in the best interest of shareholders.

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I agree @skylight and I suspect Exxaro already have a good idea on which way Glencore and S32 are leaning, however can't make any moves on JMS until its formal one way or the other.

JMS Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 20.0¢		Change 0.010(5.26%)		Mkt cap ! $392.2M

Open	High	Low	Value	Volume
19.0¢	20.0¢	19.0¢	$475.5K	2.434M

Buyers (Bids)

No.	Vol.	Price($)
3	93250	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	1359480	12

View Market Depth

No.	Vol.	Price($)
1	29300	0.195
15	4584772	0.190
5	294001	0.185
9	549943	0.180
3	605651	0.175

Price($)	Vol.	No.
0.200	1264448	10
0.205	464231	6
0.210	528098	10
0.215	233250	5
0.220	453751	11

Last trade - 16.10pm 27/06/2025 (20 minute delay)

JMS (ASX) Chart

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