It is with great pleasure that I invite you to invest in Juno Minerals Limited.
As most long-term Jupiter Shareholders will be aware, the progression of Jupiter’s iron ore assets began in 2006. Due to economic conditions, these were placed under care and maintenance over 2012 and 2013. The Board has always maintained that these assets have significant intrinsic value, especially given their proximity to existing logistics and rail and port infrastructure.
Spurred by the strengthening iron ore markets, the drive towards higher grade iron ore feed in China and recent supply issues, the Jupiter Board commenced a strategic review of the iron ore assets in 2019. After due consideration, the Jupiter Board identified that a spin-out of the iron ore assets and IPO as a value crystallisation option.
The priority of the Board and management of Juno Minerals will be to fast-track the development of the Mount Mason DSO Hematite Project; a high-grade mineral resource which is shovel ready with mining approvals in place. This will start with an update of all operating and capital expenditure in line with the existing feasibility study, which was completed in 2012. With access to infrastructure now potentially available, and iron ore prices at 7-year highs, this is the time to strike. Any funds contributed raised in the Offer for New Shares by Jupiter shareholders will be kept aside to accelerate the mine development.
Once the development of the Mount Mason project has commenced, Juno will also explore creative options to advance the Mount Ida Magnetite Project. Mount Ida is a long-life tier one magnetite mine with an almost 1.85 billion tonne mineral resource.
Finally, as a Jupiter Shareholder, I intend to support the Juno venture by applying for New Shares under the Share Offer, in addition to my entitlement to Distribution Shares as a Jupiter Shareholder. I would recommend that all other Jupiter Shareholders consider doing the same. Juno looks forward to the same support provided to Jupiter, and we are eager to finally deliver on these valuable assets.