JMS

2.04%

24.0¢ jupiter mines limited.

Adding to Fosters, Macquarie has also increased its price target...

First 8 Last

Share
Profile

Follow
weetyrs

97 Posts.

1

21/03/24

11:53

Post #: 72992344
Share
Originally posted by aussiemaddog: ↑

Foster Stockbroking released a report on this in their Lunch Time bites report released today.

Their view is positive for JMS!

Here is an extract on their view for JMS.

Good luck to all holders.

Cheers Aussie

JMS S32
GEMCO shutdown may squeeze Mn market

Groote Eylandt shutdown from major damage. South 32 (S32) yesterday temporarily ceased operations at its Groote Eylandt (S32 60%) GEMCO manganese mine in the Northern Territory, due to structural damage suffered by the wharf from Cyclone Megan. Further reports from sources close to the mine suggest the damage is major – including “massive” and “severe” damage, including to a bulk carrier and the loading wharf. The NT News quoted an GEMCO employee stating “could take months to repair, preventing ore from being loaded to ships”.

Mn price likely to see continuing uplift. Mn is mostly consumed for steelmakers, and we expect they will be scrambling in coming weeks and months for alternative Mn supplies to make up for the GEMCO shortfall. South Africa is the world’s largest producer – accounting for 36% of ore – and we expect inbound interest for supply to rise post the cessation of GEMCO operations. The RSA Mn 37% price has already risen in past weeks to be at near 12-month high at US$3.13/dmtu, following a period of inventory drawdown. The cyclone damage comes at inopportune time when steelmakers are seeking to restock.

Jupiter Mines (JMS) to benefit from price uplift. This will flow through to JMS’s Tshipi, we estimating every US10c/dmtu increase in the 37% Mn price adding 2cps to JMS share valuation. We currently rate JMS a Buy with 12-month price target of $0.57, forecasting it to yield a 10% dividend. JMS represents an option on any Mn price kick - limited downside should GEMCO resume operations quickly, but material upside from a stronger price if GEMCO is out for some while

Lunch-Time Bites mostly discusses stocks for which Foster Stockbroking does not provide formal research coverage, offering additional investment ideas that lie outside the firm’s universe of formally covered stocks. Occasionally, some stocks under formal research coverage will also be discussed, distinguished by having a recommendation and price target.

Mark Fichera
Research Analyst

Expand

Adding to Fosters, Macquarie has also increased its price target for JMS per The Australian’s live blog, probably helping today’s share price also
JMS Price at posting: 21.3¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

Is oil undervalued?

GRX

GreenX picks up prospective copper project in Germany

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

DVP

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

BOE

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

NXG

Cost blow-out for Rook I uranium project sees share plummet for NexGen

MGU

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

VMS

Venture to sniff out high-grade REE targets at Jupiter project, WA

WGX

Westgold sets its sights on top five producer status through merger with Karora

VMT

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

There are more pages in this discussion • 6 more messages in this thread...

First 8 Last

Add JMS (ASX) to my watchlist

(20min delay)
Last 24.0¢		Change -0.005(2.04%)		Mkt cap ! $470.4M

Open	High	Low	Value	Volume
24.5¢	24.5¢	23.5¢	$849.3K	3.533M

Buyers (Bids)

No.	Vol.	Price($)
4	327834	24.0¢

Sellers (Offers)

Price($)	Vol.	No.
24.5¢	125000	2

View Market Depth

No.	Vol.	Price($)
4	327834	0.240
5	528546	0.235
6	430833	0.230
5	356875	0.225
4	2263000	0.220

Price($)	Vol.	No.
0.245	125000	2
0.250	87440	3
0.255	327500	3
0.260	1741	1
0.265	128902	3

Last trade - 16.10pm 02/08/2024 (20 minute delay)

JMS (ASX) Chart

Adding to Fosters, Macquarie has also increased its price target...

Is oil undervalued?

GreenX picks up prospective copper project in Germany

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Venture to sniff out high-grade REE targets at Jupiter project, WA

Westgold sets its sights on top five producer status through merger with Karora

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Adding to Fosters, Macquarie has also increased its price target...

Top Stories

Is oil undervalued?

GreenX picks up prospective copper project in Germany

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Venture to sniff out high-grade REE targets at Jupiter project, WA

Westgold sets its sights on top five producer status through merger with Karora

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News