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JUPITER MINES LIMITED. — Interim / Quarterly Report 2022
Jun 21, 2021
65163_rns_2021-06-21_bcf6400f-79d3-4f9c-8958-3f73db4513b7.pdf
Interim / Quarterly Report
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JUPITER MINES LIMITED Q1 FY2022 QUARTERLY ACTIVITIES REPORT
| ASX: JMS 22 June 2021 ABN:51 105 991 740 Registered Office: Level 10 16 St Georges Terrace Perth WA 6000 T+61 8 9346 5500 Einvestorrelations@ jupitermines.com www.jupitermines.com Directors & Officers Brian Gilbertson Paul Murray Andrew Bell Priyank Thapliyal Yeongjin Heo Hans Mende Brian Beem (alternate to Hans Mende) Melissa North Issued Capital Ordinary shares: 1,958,991,033 Primary Asset World class Tshipi Manganese Mine |
Jupiter Mines Limited (ASX.JMS) (“Jupiter”, or the “Company”, and together with its subsidiaries, the “Group”) is pleased to provide the following activities report for the quarter ended 31 May 2021. HIGHLIGHTS Mining efficiencies increased during May; highest in Tshipi’s history. Exports ahead of plan for May quarter. Jupiter’s attributable cash balance is $51 million at end of the quarter. Jupiter CEO, Priyank Thapliyal to conduct conference call on quarterly results later today at 4:30pm AEST. TSHIPI BORWA MANGANESE MINE (100% BASIS) Jupiter has a 49.9% beneficial interest in Tshipi é Ntle Manganese Mining Proprietary Limited (“Tshipi”), which operates the Tshipi Borwa Manganese Mine in the southern portion of the Kalahari manganese field. Production, sales and financial information for the quarter ended 31 May 2021 and comparatives are presented below. UNIT Q1 FY2022 Q4 FY2021 Q1 FY2021 Mined volume BCM 3,954,451 2,816,144 2,361,031 Production Tonnes 1,049,985 891,256 694,769 Sales Tonnes 846,214 1,051,544 321,733 Average CIFprice achieved(HGL) USD/dmtu 4.56 3.93 4.21 Average FOB cost of production (HGL) ZAR/dmtu 32.66 33.44 36.10 Average exchange rate USD/ZAR1 14.48 14.92 17.78 Average exchange rate AUD/ZAR1 11.18 11.43 11.28 Sales revenue(net of realisation costs) AUD million2 107.4 130.7 52.3 Earnings before interest, tax and depreciation(EBITDA) AUD million2 26.0 41.4 35.8 Netprofit after tax AUD million2 16.2 26.3 23.5 Net cash from operatingactivities AUD million2 7.7 22.0 48.0 Cash at bank AUD million2 55.0 44.1 117.7 |
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| UNIT | ||
| Mined volume BCM |
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| Production Tonnes |
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| Sales Tonnes |
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| Average CIFprice achieved(HGL) USD/dmtu |
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| Average FOB cost of production (HGL) ZAR/dmtu |
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| Average exchange rate USD/ZAR1 |
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| Average exchange rate AUD/ZAR1 |
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| Sales revenue(net of realisation costs) AUD million2 |
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| Earnings before interest, tax and depreciation(EBITDA) AUD million2 |
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| Netprofit after tax AUD million2 |
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| Net cash from operatingactivities AUD million2 |
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| Cash at bank AUD million2 |
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Mining and Production
Excessive rain continued into early March; however, pit dewatering was successfully completed to enable increased ore mining. Overall mining volumes for the quarter were behind target, as a result of further poor efficiencies in the mining process. A comprehensive mining efficiency project has been undertaken in March and is seeing some improvement compared to April. The May mining volumes were the highest in Tshipi’s history.
Overall production volumes for both high and low grade ore were above target, with further low grade ore produced to meet the logistics plan for May. Tshipi’s cost of production for the quarter for its high grade lumpy ore was ZAR32.66 per dmtu (FOB).
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Logistics and Sales
Both road and rail volumes were ahead for the quarter.
Shipping volumes were ahead of plan with an unplanned vessel of low grade fines railed in April and exported in May.
Safety and Environment
Tshipi recorded no Lost Time Injuries (LTI) for the quarter, achieving 92 days without an LTI.
MARKETING
Sales and financial information for Jupiter’s marketing entity for the quarter ended 31 May 2021 and comparatives are presented below:
| UNIT | Q1 FY2022 Q4 FY2021 Q1 FY2021 389,555 509,933 215,790 4.64 3.96 4.28 1.8 2.2 1.2 1.7 2.1 1.0 1.0 1.6 1.0 1.4 2.9 1.9 |
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|---|---|---|
| Sales DMT |
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| Average CIF price achieved (HGL) USD/dmtu |
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| Marketingfee income AUD million2 |
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| EBITDA AUD million2 |
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| Netprofit after tax AUD million2 |
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| Cash at bank AUD million2 |
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CORPORATE
The Group’s net consolidated cash balance decreased from $65,622,312 to $24,025,870 during the quarter, after Jupiter paid its final dividend for the financial year ended 28 February 2021.
Jupiter’s attributable cash (including its share of Tshipi cash) was $51,477,544 at the end of the May quarter, calculated as the net consolidated cash above and Jupiter’s 49.9% share of Tshipi’s cash balance.
Jupiter completed the demerger of its iron ore assets into Juno Minerals Limited on 7 May 2021.
QUARTERLY CALL WITH CEO
Jupiter would like to invite all shareholders and market participants to dial into a brief conference call later today as per the details below:
Tuesday 22 June 2021 at 4:30pm AEST
Australian Dial-in Number: 1300 264 803
International Dial-in Number: +61 3 8687 0650
The conference call will be recorded and available on the Company website after the call (see www.jupitermines.com).
For and on behalf of the Board of the Company,
Priyank Thapliyal
Chief Executive Officer and Director
Notes
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Average exchange rates per OANDA.
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Tshipi and Jupiter’s marketing entity report in ZAR; Jupiter reports in AUD. Where necessary, figures have been converted using average exchange rates shown for each relevant period.
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All financial information presented in this report is provisional and unaudited.
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All amounts are in Australian Dollars unless otherwise defined. USD = United States Dollar; ZAR = South African Rand.
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The following abbreviations have been used through the report: financial year ending 28 February 2022 (FY2022); financial year ended 28 February 2021 (FY2021); bank cubic metre (bcm); dry metric tonne unit (dmtu); dry metric tonne (dmt); cost, insurance, freight (CIF); free on board (FOB); high grade lumpy (HGL).
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APPENDIX 1 - SCHEDULE OF TENEMENTS
| TENEMENT PROJECT LOCATION BENEFICIAL PERCENTAGE HELD BY JUPITER MINES |
INTEREST ACQUIRED DURING QUARTER INTEREST DISPOSED DURING QUARTER - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% |
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| G29/21 Mount Mason Western Australia 0% |
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| G29/22 Mount Ida Western Australia 0% |
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| G29/23 Mount Mason Western Australia 0% |
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| G37/36 Mount Mason Western Australia 0% |
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| L29/78 Mount Ida Western Australia 0% |
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| L29/99 Mount Ida Western Australia 0% |
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| L29/106 Mount Ida Western Australia 0% |
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| L29/116 Mount Mason Western Australia 0% |
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| L29/117 Mount Mason Western Australia 0% |
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| L29/118 Mount Mason Western Australia 0% |
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| L29/119 Mount Mason Western Australia 0% |
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| L29/120 Mount Mason Western Australia 0% |
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| L29/121 Mount Mason Western Australia 0% |
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| L29/122 Mount Ida Western Australia 0% |
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| L29/123 Mount Mason Western Australia 0% |
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| L29/131 Mount Ida Western Australia 0% |
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| L29/132 Mount Mason Western Australia 0% |
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| L36/214 Mount Ida Western Australia 0% |
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| L36/217 Mount Ida Western Australia 0% |
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| L37/203 Mount Ida Western Australia 0% |
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| L57/45 Mount Ida Western Australia 0% |
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| L57/46 Mount Ida Western Australia 0% |
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| M29/408 Mount Mason Western Australia 0% |
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| M29/414 Mount Ida Western Australia 0% |
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