Maybe a good time to relist, page-69

Jupiter’s IPO to raise A$240-million; sees 70% free float
Jupiter Mining announced its IPO, offering 600-million shares at a price per share of A$0.40. The company is targeting institutional investors but will have a retail component of 37.5-million shares. When completed, about 70% of the company will be in free float. The shares will begin trading on the ASX on Apr. 18. The company hopes to raise A$240-million before costs.
Jupiter’s primary business focus is on the production and export of manganese from its 49.9% interest in Tshipi é Ntle and the Tshipi Mine. The mine exported 3.34-million mt of manganese ore in fiscal 2018 vs. 2.27-million in fiscal 2017 and 1.54-million in fiscal 2016. The operation has the flexibility to scale production to between 3- to 3.6-million mtpy.
The average cost ($ per dmtu) was $2.09 in fiscal 2018, $2.20 in fiscal 2017, $1.94 in fiscal 2016 and $2.03 in fiscal 2015.
Tshipi has three pricing options: selling on the spot market, selling forward a maximum of three months during good market conditions, or selling on an index during poor market conditions.
Jupiter markets its share of Tshipi’s production and earns a 3% marketing fee calculated off the mine’s FOB revenue.
Tshipi is looking for manganese mines adjacent to its existing deposit and received approval by the South African Dept. of Mineral Resources to mine the artificial boundary with Samancor Manganese (South32) of their contiguous deposits.