Jupiter Mines Limited’s Stock Climbed On ASX After The Release Of Tshipi’s Financial Results For 1HFY19

After an investor’s presentation of Jupiter Mines Limited (ASX:JMS) in the month of October 2018, the company now happy to announce the financial results of Tshipi e’ Ntle Manganese Mining (Pty) Limited for the half-yearly period ended 31 August 2018. As per the presentation, the company disclosed an overview of the company and its owns 49.9% beneficial interest in Tshipi Borwa Manganese Mine which is located at Kalahari Manganese Field in South Africa. Tshipi is one of the 5 largest manganese mines in the world and largest in South Africa. It is one of the largest and low-cost exporters of manganese in the world. The flexible onsite and offsite infrastructure of Tshipi allows it for any rapid response to any changes in the market condition. The product quality of Tshipi is well recognized and established and it also takes initiatives to build strategies to enhance cash flow optimization. JMS has a right to market 49.9% of the total manganese produced of Tshipi site. The company also highlights the inclination of the board and the management towards the shareholder's returns. Moreover, JMS has a strong cash generation capability with debt-free status. Besides this, Tshipi has a good track record in regard to the safety. Since its inception, there were no fatalities recorded as of now as it believes in the safety of the employees and contractors is more important than anything else.Â

Furthermore, the company has disclosed the condensed profit and loss statement and balance sheet of Tshipi for the half-yearly period 1H FY19. The company has generated a revenue of ZAR 5,323 million. The cost of sales was ZAR 2,429 million resulting in the gross profit of ZAR 2,894 million which was ZAR 1,111 in the previous year. The net profit after tax made by the company was ZAR 2,087 million. The company currently has cash and cash equivalent of ZAR 2,777 million. The total asset of the company is worth ZAR 6,437 million and total liabilities worth ZAR 1,482 million indicating the company’s potential to pay its long-term obligation. The current asset of the company is ZAR 1,236 million and total current liabilities worth ZAR 862 million indicating the company’s potential to clear its short-term obligations. As a result of the net profit of ZAR 2,087 million, the company has distributed ZAR 2 billion to its shareholders. It was recorded that since the inception of the company, the gross profit ratio realized was 54% which remains the highest till date.

With this news, the stock climbed up 1.562 per cent with the intra-trading volume of more than 2.5 million. Currently, it is traded at $ 0.325 with the market-cap of circa $626.88 Mn as of October 17, 2018 before market close (AEST: 3:52 PM). Since its inception, the company has shown a negative performance of -20.0%. As per the chart, we see that the moving average convergence divergence line (MACD Line) is moving below the signal line.

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