Jupiter Mines' Half-Year Report Highlights

Jupiter Mines Limited (Jupiter or the Company) and its controlled entities have reported a profit after tax of $10,399,919 for the half-year ended 31 December 2023. The company's principal activities during this period were its investment in Tshipi é Ntle Manganese Mining Pty Limited (Tshipi) in South Africa and the sale of manganese ore. The Directors declared an interim dividend for the half-year ended 31 December 2023 of $0.01 per ordinary share, to be paid on 21 March 2024.

Executive Commentary on Company Strategy

Jupiter released a Company Strategy in March 2023 outlining the five-year plan to become the leading manganese producing company in the world, with a reputation for reliability, responsibility, and robust returns. The company aims to achieve this through its investment in Tshipi é Ntle Manganese Mining Pty Limited (Tshipi) and the marketing of its share of Tshipi manganese ore. The consolidated result for the half-year was $10,399,919 profit after tax, including a share of net profit from its investment in Tshipi of $16,137,466.

Summary of Financial Performance and Outlook

Jupiter Mines' half-year report reflects a profit after tax of $10,399,919, with a focus on its investment in Tshipi é Ntle Manganese Mining Pty Limited (Tshipi) and the sale of manganese ore. The company's strategy to become the leading manganese producing company in the world is underpinned by its aim for reliability, responsibility, and robust returns. Despite a decrease in manganese prices and an increase in production costs, Tshipi recorded a net profit after tax of ZAR394 million ($32.3 million) for the half-year ended 31 December 2023. Jupiter's 2024 ESG priorities include the launch of an ESG reporting framework and exploring the potential to install solar power at the Tshipi mine. The company is also progressing its entry into the EV Battery Market by exploring the potential to supply High Purity Manganese Sulphate Monohydrate (HPMSM) to the electric vehicle battery market. With a declared interim dividend and a clear strategy, Jupiter Mines remains focused on its goal to become a leading player in the global manganese market.