bargain price but not for too long

Activity report shows that JMS has a lot of potentail, and my view is that management is doing what they can whilst addressing those encountered constraints

Main components of the Activity report ( those that I like anyway)

BROCKMAN IRON PROJECT
sampled 6 sites along the western boundary that adjoins RIO’s Brockman 3 projects. Samples S11 to S14 were a mix of hard blue hematite and hematite-goethite ore,
S14A was classic blue-grey massive hard hematite and S10 represented the
softer goethite capping.
Field observations indicated hematite of (visually) similar
types extend over 2 km northeast-southwest and 3-400m east of the sampled
area

WIDGIEMOOLTHA NICKEL PROJECT
Jupiter has defined eleven conductors in the fixed loop areas
RC drill testing of six of these conductors was completed during the quarter and
all six conductors were considered to be consistent with responses from the
classic black (magnetic) Widgiemooltha chert.
During the fourth quarter Jupiter will additionally re-asses all data from the
Cassini nickel prospect (located north of FL01) which previously encountered
nickel sulphides including 12m @ 1.07% Ni from 46m in WMAC126, 4m @
2.75% Ni from 57 metres in JWRC01 and 1.35m @ 6.33% Ni & 0.44% Cu from
162m in JWDDH3. Refer to ASX announcement on the 11 September 2006.


KLONDYKE GOLD PROJECT
Ten reverse circulation drill
holes, totalling 2,191 metres (table 1) were drilled as part of an infill drilling
program to test mineralisation between the surface and 200m depth level.
Drilling encountered mineralisation zones comprised of gold in quartz stringers
and gold associated with pyrite and lesser chalcopyrite and arsenopyrite in
altered and sheared country rock. Assay over the mineralised zones returned
anomalies values from 0.3g/t Au to 23.4g/t Au.


BEASLEY IRON PROJECT
In late April 2007 Jupiter completed the Heritage
clearance which will allow the remainder of the project to be drill tested when,
the Department of Industry and Resources (DOIR) grants Jupiter a
Program of Work (POW).


During the quarter Jupiter conducted a first pass RC drilling program at its
Beasley River Channel Iron Deposit Project (CID) which is located south of RIO
Tinto’s Beasley River CID and approximately 40km west of Tom Price in the
Pilbara Region of West Australia.
Jupiter completed its initial 55 RC Drill Holes for a total of 1,245m. Favourable
results included 10m @ 53.6% Fe, 4.386% Al2O3, 0.0213% P and 5.834% SiO2
(from 6m in B07RC55). A zone where the iron grade increases to 57.07% Fe
(B07RC55) the impurities reduce to 2.26% Al2O3, 0.02% P and 3.14% Si2O3.
Mt Mason and Mt Ida IRON PROJECTS
On completion of all heritage and flora and fauna surveys during the quarter,Jupiter
applied for a Program of Work (POW) from the Department of
Industry and Resources (DOIR) which will allow Jupiter to clear areas for a
comprehensive RC and diamond drilling program.
It is anticipated that drilling approval should occur during May 2007 and drilling
will commence as soon as possible once Jupiter receives its POW from the
DOIR


Mt Mason Project Status Update
• The draft report from the Wutha Claimants has been received and has been lodged with DOIR.
• The Wongatha report is also lodged with the DOIR.
• The report by Outback Ecology Services has been lodged with the DOIR.


LEONORA GOLD PROJECTS
A drilling program will be planned after the structural interpretation and will
include the Kurrajong Gold Project (Diorite King), Grattan Well Gold Project, Sth
Leonora Gold Project and the Chandler’s Reward Gold Project.