*Huge dividends are back. Is a takeover offer coming in the future?*
ASX: JMS announces its final dividend of $0.02 (unfranked; total FY2021 payout ratio of 94%).
Yield 10.1% on closing share price as at 21 April 2021
1. Double digit dividend yield and over 70% payout ratio
2. Optimisation of the portfolio, via the Juno Minerals demerger
3. Expansion of Tshipi to a 4.5 Mtpa operation (subject to meeting consistent mining targets) to leverage upon growth in the steel and EV battery markets and resource depletion at existing mines
4. Cost optimisation via additional rail transport channels and the barrier pillar agreement between Tshipi and the Mamatwan manganese mine.
Jupiter welcomes the announcement by Ntsimbintle Holdings (Pty) Ltd (“Ntsimbintle”) that it has increased its stake in Jupiter to 19.9%. This confirms the appeal and merits of Jupiter, its “lean-and-mean” operations, and its ASX-listing to all shareholders.
Today a substantial holder notice was lodged Ntsimbintle Holdings taking their substantial holding from 5.46% to 19.90%, the maxium limit before a takeover must be lodged.
JMS has 49.9% ownership of the Tshipi manganese mine in South Africa which is the main asset of JMS. Ntsimbintle holds the other 50.1%.
Curious as to what Ntsimbintle's intentions are.
16 Apr 21: 7 Oct 20: Ntsimbintle Holdings / Safika Resources 19.90% from 5.46%
7 Oct 20: Ntsimbintle Holdings / Safika Resources 5.46% Initial
Quarter ended 28 February 2021.
Tshipi achieves second highest year of exports, despite challenging environment through the year.
ZAR1.1 billion second half dividend paid to Tshipi shareholders.
Progression of the demerger of Jupiter’s Central Yilgarn Iron Ore Assets continues.
Jupiter’s attributable cash balance is $88 million at end of the quarter.
JMS' share price has been dropping significantly. The volumes suggest that a fund is selling without much concern for the impact on the share price.
The fact that the Juno Iron Ore demerger being delayed rather than being abandoned should have been a positive.
If this is a fund dumping, then it could provide an opportunity.
There has been significant insider buying.
6 Jan 20: Significant step up in JMS from $0.28 on 18 Dec to high of $0.35. Has broken through resistance at $0.32.
Some very significant buying from directors. Gilbertson was previously CEO of BHP. >+$1m of buying.
20-05-21 JMS Mende +200,000 for $57,755 [145.85m; 110.11m] @ $0.289
20-05-22 JMS Gilbertson +148,537 & +1.13m for $40,648 & $323,386 [1.48m shares] @ $0.285
20-05-21 JMS Mende +2.8m for $770,311 [145.85m; 109.91m] @ $0.275
20 Jan 20: Gilbertson +200,000 @ $61,000 ($0.305) 200,000 shares