Jupiter Mines Releases Preliminary Final Report for FY20

April 29, 2020 01:05 PM AEST | By Team Kalkine Media

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Jupiter Mines Limited (ASX:JMS) has released a preliminary final report for the year ended 29 February 2020.

Sales and production fell to 3.41mt in FY20 from 3.51mt and 3.45mt last year respectively
Revenue fell 21% to $10.3 million in FY20 compared to $13.1 million in FY19
Profit for the year was down by 31.1% to $95.1 million from $138 million in FY19

The Government of South Africa mandated lockdown due to COVID-19 including Tshipi mine which led to fall in the supply and increase in magnesium price. All open cast mines will be able to operate from 1 May 2020 at full capacity.

The Board also announced to pay an unfranked final dividend of $0.0075 per share for FY20 on 21 May.

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