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The financial period ending 28 February 2014 has seen significant progress on Jupiter Mines Limited’s key projects.

The Tshipi Borwa mine is well on its way to becoming one of the world’s important suppliers of manganese ore. One million tonnes was produced and sold in its first full financial year, generating profits even at the depressed manganese ore prices ruling. The production ramp up to 2.4 million tonnes per annum is set to continue in the current financial year, in line with the anticipated increase in logistics capacity.

In the Central Yilgarn, work has continued to optimise the Mount Mason DSO Hematite Project. There has also been important progress in the plans to expand the capacity of the port of Esperance, with the preferred proponent announced. This increases the likelihood of Mount Mason being developed, and with it the potential to generate profits in the foreseeable future.

The de-listing of Jupiter in January 2014 was completed smoothly and the majority of shareholders remain committed to Jupiter and its Strategy. I hope to see these realise significant value in the future.

• [Editor:Phillip.Feng]