Price, volume & events
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- Last 2026-11-06
- A$0.245
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$481.6M
- EV
- A$472.1M
- Cash
- A$9.7M
- Debt
- A$0
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Sign in or enter a guest codeAnnouncements
Latest 12 of 13All sources ▸- Q1 FY2027 Quarterly Activities ReportOperations
- 2026 Notice of Annual General MeetingGovernance
- Top 20 register and substantial holders (ownership file)Governance
- 2026 Annual ReportResults
- Calendar of Key Dates for ShareholdersOther
- Leadership TransitionLeadership
- Africa Down Under 2026 PresentationOther
- Q4 FY2026 Quarterly Activities ReportOperations
- Ceasing to be a substantial holder (Ntsimbintle Holdings)Corporate Action
- Exxaro completes acquisition of manganese interestsTransaction
- Becoming a substantial holder (Pinnacle Investment Management)Corporate Action
- Exxaro satisfies all conditions for acquisition of manganese interestsTransaction
Event calendar · next 12 months
12 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| company expects completion in FY27 (nearing completion at FY26 results) | Tshipi mine plan review and production profile | Production | Company Guided | High | Sets Tshipi production rate and grade mix; the FY28 target of 5 Mtpa and any higher rate depends on it. |
| 26 November 2026, 3:00pm AWST | 2026 Annual General Meeting | Governance | Confirmed | Medium | Resolutions on the FY26 remuneration report, re-election of Scott Winter and short-term incentive rights for the MD. |
| 27 November 2026 employment end date | Brad Rogers ends as Managing Director | Governance | Confirmed | High | Leadership continuity: the CEO and MD departs and the interim CEO (Matthew Jarvis) runs the company until a permanent appointment. |
| 29 January 2027 | Q2 FY27 quarterly activities report | Results | Confirmed | Medium | Next Tshipi production, price and cash update. |
| until end of February 2027 | Brad Rogers consultancy ends | Governance | Company Guided | Medium | Transition support ends; a permanent CEO appointment is not yet announced. |
| 26 February 2027 | FY27 half-year results | Results | Confirmed | High | Half-year accounts and an interim dividend decision. |
| record 5 March 2027, paid 19 March 2027 | FY27 interim dividend record and payment | Corporate Action | Confirmed | Medium | Dividend income from Tshipi is the main cash return to Jupiter shareholders. |
| construction anticipated late FY27 to early FY28, subject to approval | Tshipi solar project construction start (subject to approval) | Construction Or Commissioning | Company Guided | Medium | Capital commitment at Tshipi; timing depends on power-price and grid conditions. |
| 30 April 2027 | Q3 FY27 quarterly activities report | Results | Confirmed | Medium | Third-quarter production, price and cash update. |
| 30 July 2027 | Q4 FY27 quarterly activities report | Results | Confirmed | Medium | Full-year FY27 operating and cash update. |
| 31 August 2027 | FY27 preliminary final report | Results | Confirmed | High | FY27 results and final dividend declaration. |
| record 7 September 2027, paid 21 September 2027 | FY27 final dividend record and payment | Corporate Action | Confirmed | Medium | Final dividend depends on the FY27 result and Tshipi distributions. |
Executive roster
As of 2026-10-30Background checks ▸Executives named in the 2026 Annual Report Directors and Executives section and the 11 September 2026 leadership announcement: the managing director (to 27 November 2026), the interim chief executive and the CFO and company secretary. Non-executive directors are excluded as required; no other executives are named for the parent company.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Brad Rogers | Managing Director and Chief Executive Officer (resigned as CEO 11 September 2026; MD until 27 November 2026; consultant to end February 2027) | Executive Director · Chief Executive | 2022-08-01 | 2026 Annual Report · Leadership Transition |
| Matthew Jarvis | Interim Chief Executive Officer (from 11 September 2026); previously Head of Commercial Strategy and Business Development | Chief Executive · Commercial | 2026-09-11 | 2026 Annual Report · Leadership Transition |
| Melissa North | Chief Financial Officer and Company Secretary | Finance · Company Secretary | 2012-11-01 | 2026 Annual Report |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Tshipi é Ntle manganese mine (Tshipi Borwa, Kalahari Manganese Field)
ZA
Producer49.9% ownedManganese
Operating open-pit mine since 2012; 49.9% held by Jupiter with joint control; Exxaro holds 50.1% since 2 March 2026; debt-free.
- Production annualised (attributable)
- 594.1k td
- Production (last FY, 100%)
- 1.3m td
- AISC (latest quarter)
- A$360/td
- AISC margin at spot
- —
- Delivery vs guidance
- —
- Reserve life
- 20.4 yrsd
- Head grade
- —
Project location
Approximate location
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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Resources & reserves5
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 146.7M t | 33.10% Mn | Manganese | 2026-06-30 |
| Mineral Resource | indicated | 68.4M t | 32.09% Mn | Manganese | 2026-06-30 |
| Mineral Resource | inferred | 194M t | 32.73% Mn | Manganese | 2026-06-30 |
| Mineral Resource | total | 409.1M t | 32.76% Mn | Manganese | 2026-06-30 |
| Ore Reserve | proved_and_probable | 71.1M t | 36.13% Mn | Manganese | 2026-06-30 |
Milestones2
- Tshipi mine plan review and production profile (FY27)
Pending · High materiality
- Tshipi solar project construction start (subject to approval, late FY27 to early FY28)
Pending · Medium materiality
Material
Jupiter marketing branch and corporate cost base
AU · ZA
Producer100% ownedManganese
Marketing fee income on Jupiter 49.9% share of Tshipi sales (A$9.3m FY26) less corporate costs; Jupiter holds marketing rights unchanged after the Exxaro transaction.
- Revenue
- A$9.3m
- EBITDA margin
- —
- Utilisation
- —
- Order book
- —
- Top customer share
- —
Other
High-purity manganese sulphate (HPMSM) project at Tshipi
ZA
Scoping Study Developer49.9% ownedManganese
Scoping study only (March 2024). No final investment decision, no funding plan; the company continues optioning EV market entry without committing significant capital.
- Ownership
- 49.9%d
- Description
- HPMSM scoping study 2024 (mid-case post-tax NPV at 12% US$260M); no final investment decision
- Book value
- —
Published study economicsIssuer or study metrics
NPVUS$26012% discount
Mid-case post-tax real NPV at 12% from the scoping study (p.8); IRR range 18%-28% across the study cases; capex and opex are scoping-level estimates.
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| High-Purity Manganese Sulphate Scoping Study | Scoping Study | Current | 2024-03-13 | Scoping study on a 50-100 ktpa HPMSM plant using Tshipi low-grade ore; mid-case post-tax real NPV12 US$260m; IRR range 18%-28%; scoping accuracy plus or minus 30% opex and 50% capex. |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Jupiter corporate cash is A$9.7m at 30 September 2026 (Q1 FY27 report, p.7) after paying the A$14.5m final dividend; Tshipi cash of A$43.0m attributable to Jupiter (49.9% of A$86.2m) sits in the equity-accounted investment. No committed funding or facilities are disclosed. Liquidity depends on Tshipi distributions.
Capital structure
Ownership and dilution
- Ordinary shares
- 2B
- Fully diluted
- 2B
Ordinary shares rose from 1,961,041,761 (30 June 2025) to 1,965,850,551 (30 June 2026), an increase of 4,808,790 from director rights exercised and FY26 director share issues (AR note 13). No unlisted options were outstanding at 30 June 2026 (AR p.145); performance rights total 18,003,961 (AR p.113). The AR states 1,965,850,551 ordinary shares on issue (p.156).
Security classes1
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Performance and service rights outstanding under the incentive plan (FY24 to FY26 grants, treated as dilutive) | Performance Right | 18M | A$0 | — |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY25A | FY26A |
|---|---|---|---|---|
| Operations | ||||
| Tshipi production (100%, ore) | t | — | 3,486,441 | |
| Tshipi sales (100%, ore) | t | — | 3,488,925 | |
| Unit costs | ||||
| Average FOB cost of production (100%) | USD/dmtu | 2.30 | 2.40 | |
| Profit and loss | ||||
| Revenue (marketing fee income, Jupiter consolidated) | AUDm | 9.4 | 9.3 | |
| Share of Tshipi profit after tax (49.9%) | AUDm | 42.5 | 37.3 | |
| Marketing fee less corporate costs (EBITDA-level residual) | AUDm | 0.8 | 3.0 | |
| Underlying EBITDA (company definition, after JV share) | AUDm | 43.3 | 40.3 | |
| Net profit attributable to owners | AUDm | 40.0 | 37.7 | |
| Cash flow | ||||
| Operating cash flow (Jupiter, excludes Tshipi dividends) | AUDm | 0.8 | 1.1 | |
| Dividends received from Tshipi (investing) | AUDm | 12.3 | 20.2 | |
| Capital expenditure (Jupiter) | AUDm | 0.0 | 0.0 | |
| Operating cash flow plus Tshipi dividends | AUDm | 13.1 | 21.3 | |
| Free cash flow to Jupiter (inflows less capex) | AUDm | 13.1 | 21.3 | |
| Balance sheet | ||||
| Cash (Jupiter, balance date) | AUDm | 13.2 | 9.3 | |
| Debt (borrowings) | AUDm | 0.0 | 0.0 | |
| Net debt / (net cash) | AUDm | (13.2) | (9.3) | |
| Book equity | AUDm | 565.2 | 578.3 | |
| Per share | ||||
| Ordinary shares on issue (year end) | m shares | 1,961.0 | 1,965.9 | |
| Earnings per share | AUD/share | 0.02 | 0.02 | |
| Dividends per share declared | AUD/share | 0.01 | 0.01 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | 11.1 | 12.0 | |
| P / E (x, current market cap) | x | 12.3 | 13.0 | |
| FCF yield (current market cap) | % | 2.7% | 4.3% | |
| EBITDA margin | % | 459.2% | 435.0% | |
| Net debt / EBITDA (x) | x | (0.3) | (0.2) | |
KPI history
Operating metrics · Tshipi é Ntle manganese mine (Tshipi Borwa, Kalahari Manganese Field)
| Metric | Unit | Trend | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Tshipi production (100%, ore tonnes) | t | 829,798 | 840,688 | 849,772 | 966,183 | 823,800 | |
| Tshipi EBITDA (100%) | AUD | 26,600,000 | 21,600,000 | 32,200,000 | 34,200,000 | 22,500,000 | |
| Tshipi average FOB cost of production | USD/dmtu | 2.27 | 2.24 | 2.50 | 2.48 | 2.51 | |
| Tshipi cash at bank (100%) | AUD | 140,300,000 | 137,400,000 | 129,200,000 | 129,400,000 | 86,200,000 |
Operating metric source table27
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Tshipi production (100%, ore tonnes) | Tshipi Mine | Q1 FY26 | Quarter | 829,798 t | Reported |
| Tshipi EBITDA (100%) | Tshipi Mine | Q1 FY26 | Quarter | 26,600,000 AUD | Reported |
| Tshipi average FOB cost of production | Tshipi Mine | Q1 FY26 | Quarter | 2.27 USD/dmtu | Reported |
| Tshipi cash at bank (100%) | Tshipi Mine | Q1 FY26 | Point In Time | 140,300,000 AUD | Reported |
| Tshipi production (100%, ore tonnes) | Tshipi Mine | Q2 FY26 | Quarter | 840,688 t | Reported |
| Tshipi EBITDA (100%) | Tshipi Mine | Q2 FY26 | Quarter | 21,600,000 AUD | Reported |
| Tshipi average FOB cost of production | Tshipi Mine | Q2 FY26 | Quarter | 2.24 USD/dmtu | Reported |
| Tshipi cash at bank (100%) | Tshipi Mine | Q2 FY26 | Point In Time | 137,400,000 AUD | Reported |
| Tshipi production (100%, ore tonnes) | Tshipi Mine | Q3 FY26 | Quarter | 849,772 t | Reported |
| Tshipi EBITDA (100%) | Tshipi Mine | Q3 FY26 | Quarter | 32,200,000 AUD | Reported |
| Tshipi average FOB cost of production | Tshipi Mine | Q3 FY26 | Quarter | 2.5 USD/dmtu | Reported |
| Tshipi cash at bank (100%) | Tshipi Mine | Q3 FY26 | Point In Time | 129,200,000 AUD | Reported |
| Tshipi production (100%, ore tonnes) | Tshipi Mine | Q4 FY26 | Quarter | 966,183 t | Reported |
| Tshipi EBITDA (100%) | Tshipi Mine | Q4 FY26 | Quarter | 34,200,000 AUD | Reported |
| Tshipi average FOB cost of production | Tshipi Mine | Q4 FY26 | Quarter | 2.48 USD/dmtu | Reported |
| Tshipi cash at bank (100%) | Tshipi Mine | Q4 FY26 | Point In Time | 129,400,000 AUD | Reported |
| Tshipi production (100%, ore tonnes) | Tshipi Mine | Q1 FY27 | Quarter | 823,800 t | Reported |
| Tshipi EBITDA (100%) | Tshipi Mine | Q1 FY27 | Quarter | 22,500,000 AUD | Reported |
| Tshipi average FOB cost of production | Tshipi Mine | Q1 FY27 | Quarter | 2.51 USD/dmtu | Reported |
| Tshipi cash at bank (100%) | Tshipi Mine | Q1 FY27 | Point In Time | 86,200,000 AUD | Reported |
| Tshipi production FY26 (100%) | Tshipi Mine | FY26 | Year | 3,486,441 t | Reported |
| Tshipi sales FY26 (100%) | Tshipi Mine | FY26 | Year | 3,488,925 t | Reported |
| Tshipi average CIF price achieved FY26 (high-grade lumpy) | Tshipi Mine | FY26 | Year | 4.38 USD/dmtu | Reported |
| Tshipi underlying EBITDA FY26 (100%) | Tshipi Mine | FY26 | Year | 114,600,000 AUD | Reported |
| Tshipi free cash flow FY26 (100%) | Tshipi Mine | FY26 | Year | 40,700,000 AUD | Reported |
| Jupiter marketing fee revenue FY26 | Jupiter Marketing | FY26 | Year | 9,264,793 AUD | Reported |
| Tshipi plant flowsheet capacity (bottleneck stage, tonnes per annum) | Tshipi Mine | 2026-09-02 | Point In Time | 3,600,000 t | Reported |
Company guidance1
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Production Target (Remuneration Hurdle, Mtpa) | tshipi-mine | FY28 | 5 | 5 Mtpa | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-18Ann. 2026-08-28 | Dividend | A$14.5M | — | — | Completed | — |
| 2026-04-02Ann. 2026-03-16 | Dividend | A$10.8M | — | — | Completed | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Arrangements disclosed in the 2026 Annual Report, the Exxaro transaction announcements and the Q1 FY27 quarterly: Tshipi joint venture and shareholders agreement, Jupiter marketing rights, the Exxaro shareholding in Jupiter, and the Transnet MECA3 logistics framework. No royalty, stream or hedge disclosed for Jupiter.
Jupiter holds 49.9% of Tshipi with joint control; Exxaro replaced Ntsimbintle Holdings and OM Holdings (50.1% combined) on 2 March 2026. Tshipi board has four Exxaro and three Jupiter directors.
Joint Venture · Active- Counterparties
- Exxaro Resources Limited (50.1% of Tshipi)
- Applies to
- Tshipi é Ntle manganese mine (Tshipi Borwa, Kalahari Manganese Field) · Manganese
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Jupiter economic interest in Tshipi: 49.9 %
Joint control and Tshipi Shareholders Agreement: unchanged
How it affects our valuation
No valuation treatment is available for this arrangement.
Jupiter markets its 49.9% share of Tshipi ore and earns a fee; the rights were unaffected by the Exxaro transaction, and Exxaro took over the 50.1% marketing rights previously held by NH and OMH.
Other · Active- Counterparties
- Tshipi
- Applies to
- Jupiter marketing branch and corporate cost base · Manganese
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Marketing fee income FY26: 9,264,793 AUD
Sales marketed by Jupiter (Q1 FY27, 49.9% share): 453,769 t
How it affects our valuation
No valuation treatment is available for this arrangement.
Long-term Transnet rail and port allocation framework that replaces annual allocations; supports volumes and reduces logistics cost uncertainty; its cost effects are inside the calibrated Tshipi cost base.
Other · Active- Counterparties
- Transnet · manganese producers in the KMF
- Applies to
- Tshipi é Ntle manganese mine (Tshipi Borwa, Kalahari Manganese Field) · Manganese
- Economic direction
- Benefit
- Period
- From 2026-02-27; no end date stated
- Key terms
- Rail and port allocation certainty: 10 years
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
Evidence coverage has been deepened with dated issuer filings and selected independent records. Career claims remain mostly issuer-reported, and open-web adverse checks are limited in scope; findings are attributed to individuals only where sources establish that link.
Decision-relevant facts
Material summary
Brad Rogers
Managing Director
Personal SuccessIssuer Reported · Medium materiality
Relevant professional background and qualifications
Jupiter profile: Managing Director since 1 August 2022; former Bis MD/CEO, CFO and corporate development director; earlier GRD leadership; Curtin B.Com, postgraduate applied finance and CA.
Individual involvement documented · This is an issuer-published career summary; it is not independent verification of every claimed contribution.
Board of Directors and Executives · Brad Rogers section
Company SuccessIssuer Reported · High materiality
FY2025 record operating volumes and higher profit during MD tenure
Jupiter reported record Tshipi FY2025 output/sales: 3.603Mt production and 3.587Mt sales; group NPAT rose to A$40.1m from A$38.9m and 49.9% share of JV profit rose to A$42.5m. This company result occurred during Rogers’ CEO tenure; commodity pricing/logistics and operator performance are not separable from his personal contribution.
Role overlaps event; causation unproven · MD/CEO oversight overlaps the period, but Tshipi is jointly controlled and independently operated; evidence does not establish Rogers as sole cause.
Preliminary Final Report FY2025 · pp.1–3, lines 7–31
SafetyIssuer Reported · Medium materiality
Tshipi recorded one lost-time injury in Q4 FY2025
Jupiter’s Q4 report records one LTI in the quarter and TRIFR of 0.38, unchanged from prior quarter. Reported on a 100% Tshipi basis; operation is jointly controlled and not directly operated by Jupiter.
Role overlaps event; causation unproven · Rogers was Jupiter MD/CEO, but the issuer identifies Tshipi as separately managed and jointly controlled.
Q4 FY2025 Quarterly Activities Report · p.1 lines 5–19
Evidence gaps · 3
- Independent verification of the complete career chronology, education and professional memberships is not established by the sources reviewed.
- No comprehensive regulator, court, safety, environment or litigation-record review was completed; absence of a finding here is not a clearance.
- Individual contribution to employer outcomes and concurrent board interests require additional source-level verification.
Matthew Jarvis
Interim Chief Executive Officer
Personal SuccessIssuer Reported · Medium materiality
Manganese and mine-planning experience
Jupiter described Jarvis as a mining engineer with 25 years’ experience across South Africa and Australia, including 16 years in manganese. It said he had contributed to Jupiter’s growth and consolidation strategy and Tshipi mine-planning and operational-improvement initiatives.
Individual involvement documented · The company attributes strategic and mine-planning contributions to Jarvis; it does not quantify personal impact on Tshipi outcomes.
Leadership Transition · p.1 lines 10–14 and 21–23
Evidence gaps · 3
- Independent verification of the complete career chronology, education and professional memberships is not established by the sources reviewed.
- No comprehensive regulator, court, safety, environment or litigation-record review was completed; absence of a finding here is not a clearance.
- Individual contribution to employer outcomes and concurrent board interests require additional source-level verification.
Melissa North
Chief Financial Officer, Company Secretary
Personal SuccessIssuer Reported · Medium materiality
Relevant professional background and qualifications
Jupiter profile: joined May 2012; CFO/CoSec from November 2012; Murdoch B.Com, CA; financial roles in Perth and London and Grant Thornton career beginning 2000.
Individual involvement documented · This is an issuer-published career summary; it is not independent verification of every claimed contribution.
Board of Directors and Executives · Melissa North section
Evidence gaps · 3
- Independent verification of the complete career chronology, education and professional memberships is not established by the sources reviewed.
- No comprehensive regulator, court, safety, environment or litigation-record review was completed; absence of a finding here is not a clearance.
- Individual contribution to employer outcomes and concurrent board interests require additional source-level verification.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-14
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 20.59% | 404,705,617 | |
| 2 | 19.99% | 392,973,525 | |
| 3 | 10.72% | 210,692,991 | |
| 4 | 6.87% | 134,992,472 | |
| 5 | 5.27% | 103,681,688 | |
| 6 | 3.41% | 67,032,038 | |
| 7 | 3.16% | 62,131,659 | |
| 8 | 2.73% | 53,743,874 | |
| 9 | 2.14% | 41,973,609 | |
| 10 | 2.03% | 40,000,000 | |
| 11 | 1.16% | 22,761,046 | |
| 12 | 1.03% | 20,329,839 | |
| 13 | 0.83% | 16,377,271 | |
| 14 | 0.76% | 14,877,912 | |
| 15 | 0.59% | 11,677,059 | |
| 16 | 0.41% | 8,000,000 | |
| 17 | 0.40% | 7,889,627 | |
| 18 | 0.36% | 7,000,080 | |
| 19 | 0.33% | 6,423,531 | |
| 20 | 0.33% | 6,392,229 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 19.99%Voting power | 2026-06-30 | |
| 5.10%Voting power | 2026-02-10 | |
| 5.06%Voting power | 2025-07-22 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The share register is dated 14 September 2026. The annual report states Exxaro’s 19.99% shareholding without specifying the measurement date in that passage; 30 June 2026 is used as the annual reporting date.
- Pinnacle’s 11 June 2026 Form 604 was withdrawn by its 23 June correction; the last explicit quantity remains its 10 February Form 603. Spheria’s last located quantity is dated 22 July 2025.
- The register and substantial-holder view overlap. Custody accounts do not identify beneficial owners; no aggregation is implied.
Sources
- 2026 Annual Report
Jupiter Mines Limited / ASX · Published 2026-09-30 · Accessed 2026-10-09
Reports top 20 registered ordinary-share accounts with share percentages; annual report also describes Exxaro’s 19.99% Jupiter shareholding.
PDF page 157, Twenty largest shareholders; PDF pages 17-19, strategic context / Exxaro shareholding
- Becoming a substantial holder
Pinnacle Investment Management Group Limited / ASX · Published 2026-02-13 · Accessed 2026-10-09
Reports 100,186,139 ordinary shares and 5.10% voting power as at 10 February 2026.
PDF pages 1-2 and Annexures A/B, Form 603
- Correction to Change in substantial holding
Pinnacle Investment Management Group Limited / ASX · Published 2026-06-23 · Accessed 2026-10-09
Withdraws Pinnacle’s June 2026 Form 604, stating the reported change was an administrative error and there was no notifiable change.
Opening correction notice
- Becoming a substantial holder
Spheria Asset Management Pty Ltd / ASX · Published 2026-02-13 · Accessed 2026-10-09
Reports 99,144,582 ordinary shares and 5.06% voting power as at 22 July 2025.
PDF pages 1-3 and annexures
Disclosed activity
Insider transactions
Trading activity22 buys · 25 sells shownNet cash last 12 months A$1.9mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-03-02 | Ntsimbintle Holdings (Pty) Ltd and its associates disclosed in Form 605
Details & evidence for Ntsimbintle Holdings (Pty) Ltd and its associates disclosed in Form 605 on 2026-03-02The recipient is not named. The 2025 annual report lists Manganexx at 392,012,248 shares, 961,277 fewer than this disposal; no link is asserted and the counterparty/quantity reconciliation remains material unresolved. As disclosed: Off-market disposal of 392,973,525 fully paid ordinary shares at ZAR 3.69 per share.
substantial holder until threshold cessation · Start not disclosed to 2026-03-02 Ceasing to be a substantial holder-Ntsimbintle Holdings ↗ 2025 Annual Report ↗ | SaleFully paid ordinary shares | 392,973,525 | ZAR 1,450,072,307.25 | ZAR 3.69Disclosed price | — |
| 2026-02-10 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-10Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 4,858,762 ordinary shares for A$1,372,600.27; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 4,858,762 | AUD 1,372,600.27 | AUD 0.2825Calculated average | — |
| 2026-02-09 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-09Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 7,276 ordinary shares for A$2,019.09; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 7,276 | AUD 2,019.09 | AUD 0.2775Calculated average | — |
| 2026-02-06 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-06Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 1,229,811 ordinary shares for A$338,198.03; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 1,229,811 | AUD 338,198.03 | AUD 0.275Calculated average | — |
| 2026-02-05 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-05Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 196,310 ordinary shares for A$54,476.03; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 196,310 | AUD 54,476.03 | AUD 0.2775Calculated average | — |
| 2026-02-03 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-03Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 43,856 ordinary shares for A$12,178.81; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 43,856 | AUD 12,178.81 | AUD 0.2777Calculated average | — |
| 2026-02-02 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-02Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 93,254 ordinary shares for A$25,411.72; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 93,254 | AUD 25,411.72 | AUD 0.2725Calculated average | — |
| 2026-01-29 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-29Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 6,000 ordinary shares for A$1,635.00; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 6,000 | AUD 1,635.00 | AUD 0.2725Calculated average | — |
| 2026-01-13 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-13Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 5,329 ordinary shares for A$1,512.90; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 5,329 | AUD 1,512.90 | AUD 0.283899Calculated average | — |
| 2026-01-12 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-12Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 192,589 ordinary shares for A$54,637.50; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 192,589 | AUD 54,637.50 | AUD 0.2837Calculated average | — |
| 2026-01-09 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-09Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 32,644 ordinary shares for A$9,081.56; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 32,644 | AUD 9,081.56 | AUD 0.2782Calculated average | — |
| 2026-01-08 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-08Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 216,434 ordinary shares for A$60,147.01; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 216,434 | AUD 60,147.01 | AUD 0.2779Calculated average | — |
| 2026-01-07 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-07Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 206,667 ordinary shares for A$57,701.43; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 206,667 | AUD 57,701.43 | AUD 0.2792Calculated average | — |
| 2026-01-06 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-06Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 94,314 ordinary shares for A$26,304.17; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 94,314 | AUD 26,304.17 | AUD 0.2789Calculated average | — |
| 2026-01-05 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-01-05Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 47,717 ordinary shares for A$13,079.23; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 47,717 | AUD 13,079.23 | AUD 0.2741Calculated average | — |
| 2025-12-22 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-22Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 436,331 ordinary shares for A$117,809.37; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 436,331 | AUD 117,809.37 | AUD 0.27Calculated average | — |
| 2025-12-18 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-18Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 2,987 ordinary shares for A$806.49; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 2,987 | AUD 806.49 | AUD 0.27Calculated average | — |
| 2025-12-17 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-17Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 118,768 ordinary shares for A$31,473.52; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 118,768 | AUD 31,473.52 | AUD 0.265Calculated average | — |
| 2025-12-16 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-16Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 61,410 ordinary shares for A$16,187.68; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 61,410 | AUD 16,187.68 | AUD 0.2636Calculated average | — |
| 2025-12-15 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-15Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 216,520 ordinary shares for A$57,117.98; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 216,520 | AUD 57,117.98 | AUD 0.2638Calculated average | — |
| 2025-12-12 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-12Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 29,350 ordinary shares for A$7,950.92; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 29,350 | AUD 7,950.92 | AUD 0.2709Calculated average | — |
| 2025-12-11 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-11Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 94,846 ordinary shares for A$25,456.67; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 94,846 | AUD 25,456.67 | AUD 0.2684Calculated average | — |
| 2025-12-10 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-10Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 54,429 ordinary shares for A$14,723.04; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 54,429 | AUD 14,723.04 | AUD 0.2705Calculated average | — |
| 2025-12-09 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-09Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 108,393 ordinary shares for A$29,190.23; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 108,393 | AUD 29,190.23 | AUD 0.2693Calculated average | — |
| 2025-12-08 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-08Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 107,515 ordinary shares for A$29,373.10; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 107,515 | AUD 29,373.10 | AUD 0.2732Calculated average | — |
| 2025-12-04 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-04Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 20,440 ordinary shares for A$5,643.48; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 20,440 | AUD 5,643.48 | AUD 0.2761Calculated average | — |
| 2025-12-03 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-03Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 128,406 ordinary shares for A$34,836.55; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 128,406 | AUD 34,836.55 | AUD 0.2713Calculated average | — |
| 2025-12-02 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-02Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 270,833 ordinary shares for A$71,391.58; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 270,833 | AUD 71,391.58 | AUD 0.2636Calculated average | — |
| 2025-12-01 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-12-01Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 10,650 ordinary shares for A$2,827.58; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 10,650 | AUD 2,827.58 | AUD 0.2655Calculated average | — |
| 2025-11-28 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-28Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 90,645 ordinary shares for A$23,975.60; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 90,645 | AUD 23,975.60 | AUD 0.2645Calculated average | — |
| 2025-11-27 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-27Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 41,034 ordinary shares for A$10,808.36; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 41,034 | AUD 10,808.36 | AUD 0.2634Calculated average | — |
| 2025-11-25 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-25Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 71,654 ordinary shares for A$18,565.55; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 71,654 | AUD 18,565.55 | AUD 0.2591Calculated average | — |
| 2025-11-24 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-24Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Sale of 234,366 ordinary shares for A$59,482.09; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | SaleOrdinary fully paid shares | 234,366 | AUD 59,482.09 | AUD 0.2538Calculated average | — |
| 2025-11-06 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-06Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 2,354,930 ordinary shares for A$637,061.10; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 2,354,930 | AUD 637,061.10 | AUD 0.270522Calculated average | — |
| 2025-11-05 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-05Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 659,330 ordinary shares for A$173,975.26; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 659,330 | AUD 173,975.26 | AUD 0.263867Calculated average | — |
| 2025-11-03 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-11-03Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 788,370 ordinary shares for A$212,150.37; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 788,370 | AUD 212,150.37 | AUD 0.2691Calculated average | — |
| 2025-10-31 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-31Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 2,138,367 ordinary shares for A$552,375.03; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 2,138,367 | AUD 552,375.03 | AUD 0.258316Calculated average | — |
| 2025-10-30 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-30Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 1,282,473 ordinary shares for A$336,649.16; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 1,282,473 | AUD 336,649.16 | AUD 0.2625Calculated average | — |
| 2025-10-29 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-29Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 3,008,176 ordinary shares for A$774,605.32; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 3,008,176 | AUD 774,605.32 | AUD 0.2575Calculated average | — |
| 2025-10-28 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-28Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 756,424 ordinary shares for A$195,157.39; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 756,424 | AUD 195,157.39 | AUD 0.258Calculated average | — |
| 2025-10-24 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-24Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 1,074,023 ordinary shares for A$276,560.92; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 1,074,023 | AUD 276,560.92 | AUD 0.2575Calculated average | — |
| 2025-10-23 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-23Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 22,275 ordinary shares for A$5,624.44; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 22,275 | AUD 5,624.44 | AUD 0.2525Calculated average | — |
| 2025-10-22 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-22Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 1,296,885 ordinary shares for A$337,190.10; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 1,296,885 | AUD 337,190.10 | AUD 0.26Calculated average | — |
| 2025-10-17 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-17Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 2,552,459 ordinary shares for A$657,258.19; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 2,552,459 | AUD 657,258.19 | AUD 0.2575Calculated average | — |
| 2025-10-16 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-16Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 514,208 ordinary shares for A$132,408.56; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 514,208 | AUD 132,408.56 | AUD 0.2575Calculated average | — |
| 2025-10-15 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-15Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 2,142,679 ordinary shares for A$553,193.78; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 2,142,679 | AUD 553,193.78 | AUD 0.258179Calculated average | — |
| 2025-10-13 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2025-10-13Reported under the Pinnacle group; Annexure C does not identify the specific underlying fund or registered account. As disclosed: Purchase of 115,717 ordinary shares for A$30,294.71; consideration and quantity from Form 603 Annexure C.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | PurchaseOrdinary fully paid shares | 115,717 | AUD 30,294.71 | AUD 0.2618Calculated average | — |
Disclosed holding observations6 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-03-02 | Ntsimbintle Holdings (Pty) Ltd and its associates disclosed in Form 605
Details & evidence for Ntsimbintle Holdings (Pty) Ltd and its associates disclosed in Form 605 on 2026-03-02Form says holder ceased to be substantial, but does not state post-transaction holding; no zero balance inferred.
substantial holder until threshold cessation · Start not disclosed to 2026-03-02 Ceasing to be a substantial holder-Ntsimbintle Holdings ↗ | ThresholdFully paid ordinary shares | — | — |
| 2026-02-10 | Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A
Details & evidence for Pinnacle Investment Management Group Limited and subsidiaries listed in Form 603 Annexure A on 2026-02-10Pinnacle reports group relevant interest; Annexure B names Citicorp Nominees as registered holder. A manager-level holding is not equivalent to beneficial economic ownership.
substantial holder · 2026-02-10 Citicorp Nominees Pty Ltd · registered holder of the securities listed in Form 603 Annexure B Becoming a substantial holder ↗ | InitialOrdinary fully paid shares | 100,186,139 | 5.10%Voting Power |
| 2025-09-01 | Manganexx Proprietary Limited
Details & evidence for Manganexx Proprietary Limited on 2025-09-01Annual report lists this position as of 1 September 2025 and attributes the substantial-holder filing to 14 May 2025.
2025 Annual Report ↗ | PositionOrdinary shares | 392,012,248 | 19.99%Voting Power |
| 2025-09-01 | Ntsimbintle Holdings and Safika group (combined holder position as disclosed in 2025 Annual Report)
Details & evidence for Ntsimbintle Holdings and Safika group (combined holder position as disclosed in 2025 Annual Report) on 2025-09-01Annual report footnote states combined Ntsimbintle/Safika holding; do not duplicate the two table entries or split this group quantity.
2025 Annual Report ↗ | PositionOrdinary shares | 409,350,796 | 20.88%Voting Power |
| 2025-09-01 | POSCO Australia GP Pty Ltd and associate POSCO Australia Pty Ltd
Details & evidence for POSCO Australia GP Pty Ltd and associate POSCO Australia Pty Ltd on 2025-09-01Annual report lists POSCO Australia GP Pty Ltd and associate POSCO Australia Pty Ltd together.
2025 Annual Report ↗ | PositionOrdinary shares | 134,992,472 | 6.89%Voting Power |
| 2025-09-01 | Spheria Asset Management Pty Ltd
Details & evidence for Spheria Asset Management Pty Ltd on 2025-09-01Annual report identifies a 22 July 2025 Form 603 or 604.
2025 Annual Report ↗ | PositionOrdinary shares | 99,144,582 | 5.06%Voting Power |
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Sign in or enter a guest codeChronological evidenceSource-document inventory20 documents
Reference price: JMS close 2 November 2026Market Data · MediumExtracted
Latest eligible local ASX close for JMS on 2 November 2026 (A$0.25, volume 1,667,283), taken from the local price database through miners.reference_price; price status fresh.
- Document ID
- jms-market-reference-2026-11-02
- Published UTC
- 2026-11-02T05:00:00Z
- Projects
- —
- Commodities
- manganese
Market snapshot JMS at 2 November 2026Market Data · LowExtracted
Market snapshot from miners.v8db.market_snapshot: 52-week range A$0.235 to A$0.305; 12-month return -3.9% and 3-year return +35.1% (about zero against the mining index over three years); 20-session average traded value A$462,785. Manganese spot is absent from the local database, so the commodity series comes from the issuer quarterly and the USGS chapter.
- Document ID
- jms-market-snapshot-2026-11-02
- Published UTC
- 2026-11-02T05:00:00Z
- Projects
- —
- Commodities
- manganese
Director dealings (insider transactions database)Governance · LowPartial
Director dealings read through python -m miners.insider_transactions show JMS (status partial): Brad Rogers rights vesting of 1,050,362 units on 22 December 2025 for nil cash, plus other director notices from 2024 to 2026 that carry no market purchase. Consistent with the issuer share count movement of 1.0m shares in FY26 to directors.
- Document ID
- jms-insider-dealings-2026
- Published UTC
- 2026-11-02T01:00:00Z
- Projects
- —
- Commodities
- manganese
Q1 FY2027 Quarterly Activities ReportOperations · HighPartial
Quarter to 30 September 2026: Tshipi production 823,800 t, sales, CIF/FOB prices, FOB cost, EBITDA A$22.5m, Tshipi cash A$86.2m (100%), Jupiter cash A$9.7m and attributable cash A$52.7m, dividend paid A$14.5m, Fastmarkets price series to end October 2026, leadership transition.
- Document ID
- jms-q1-fy27-quarterly
- Published UTC
- 2026-10-29T21:57:20Z
- Projects
- tshipi-mine
- Commodities
- manganese
2026 Notice of Annual General MeetingGovernance · LowPartial
Notice of the 2026 AGM on 26 November 2026 at 3:00pm AWST, with resolutions on the FY26 remuneration report, re-election of Scott Winter and short-term incentive performance rights for Brad Rogers.
- Document ID
- jms-agm-notice-2026
- Published UTC
- 2026-10-22T23:22:50Z
- Projects
- —
- Commodities
- manganese
Top 20 register and substantial holders (ownership file)Governance · MediumExtracted
Local ownership file (reviewed 9 October 2026): register dated 14 September 2026 with Citicorp Nominees 20.59%, Manganexx (Exxaro vehicle) 19.99%, HSBC custody and others; substantial holders Exxaro 19.99% and Pinnacle 5.10% (last explicit notice 10 February 2026).
- Document ID
- jms-investor-register-2026
- Published UTC
- 2026-10-09T01:00:00Z
- Projects
- —
- Commodities
- manganese
JMS management assessment (local research)Governance · LowExtracted
Local management assessment: executive team score 2 of 5 stars and 46 of 100 with low evidence confidence; career claims are issuer-reported and the Tshipi outcomes are jointly controlled. Used as an input to the management assessment, not as a conclusion.
- Document ID
- jms-management-summary-2026
- Published UTC
- 2026-10-09T01:00:00Z
- Projects
- —
- Commodities
- manganese
2026 Annual ReportResults · HighPartial
Full-year FY26 report (year to 30 June 2026): Tshipi 49.9% equity-accounted, Jupiter group P&L, cash flow and balance sheet, shares on issue, dividends, Tshipi financial summary (ZAR), resource and reserve statement at 30 June 2026, board and executive roster, remuneration and register disclosures.
- Document ID
- jms-ar-2026
- Published UTC
- 2026-09-29T23:01:29Z
- Projects
- tshipi-mine · jupiter-marketing
- Commodities
- manganese
Calendar of Key Dates for ShareholdersOther · LowPartial
Issuer calendar: Q2 FY27 report 29 January 2027, FY27 half-year 26 February 2027, interim dividend record and payment dates, Q3 30 April 2027, Q4 30 July 2027, preliminary final 31 August 2027, final dividend dates to 21 September 2027.
- Document ID
- jms-calendar-2026
- Published UTC
- 2026-09-29T23:07:19Z
- Projects
- —
- Commodities
- manganese
Leadership TransitionLeadership · HighPartial
Managing Director Brad Rogers resigns to take a CEO role elsewhere; he remains MD until end November 2026 and then consults to end February 2027; Matthew Jarvis appointed interim CEO from 11 September 2026 with Appendix One terms.
- Document ID
- jms-leadership-2026
- Published UTC
- 2026-09-10T22:23:07Z
- Projects
- —
- Commodities
- manganese
Africa Down Under 2026 PresentationOther · MediumPartial
Investor presentation: Tshipi flowsheet stage capacities (3.6 Mtpa plant capacity, 3.4 Mtpa utilisation), EV battery strategy, Exxaro transaction summary and strategy pillars.
- Document ID
- jms-adu-2026
- Published UTC
- 2026-09-02T03:14:15Z
- Projects
- tshipi-mine
- Commodities
- manganese
Q4 FY2026 Quarterly Activities ReportOperations · MediumPartial
Quarter to 30 June 2026 with FY26 and quarterly comparatives: Tshipi production, sales, CIF and FOB prices, FOB cost of production, quarterly EBITDA, NPAT and cash for Q1-Q4 FY26 and Q4 FY25.
- Document ID
- jms-q4-fy26-quarterly
- Published UTC
- 2026-07-30T22:32:54Z
- Projects
- tshipi-mine
- Commodities
- manganese
Euroz Hartleys Institutional Investor Conference presentationOther · LowPartial
Company update: Exxaro at A$0.33 per share for the 19.99% stake, dividend history since 2019, Tshipi board composition after the transaction.
- Document ID
- jms-euroz-2026
- Published UTC
- 2026-03-18T23:00:00Z
- Projects
- tshipi-mine
- Commodities
- manganese
Ceasing to be a substantial holder (Ntsimbintle Holdings)Corporate Action · LowPartial
Notice that Ntsimbintle Holdings ceased to be a substantial holder following the sale of its Jupiter shares to Exxaro.
- Document ID
- jms-ntsimbintle-cease-2026
- Published UTC
- 2026-03-05T23:10:33Z
- Projects
- —
- Commodities
- manganese
Exxaro completes acquisition of manganese interestsTransaction · HighPartial
Exxaro completes acquisition of Ntsimbintle Holdings 37.1% and OM Holdings 13.0% interests in Tshipi (50.1% total), the related 50.1% marketing rights, and 392,973,525 Jupiter shares (19.99%). Jupiter keeps 49.9% and joint control; the Shareholders Agreement is unchanged.
- Document ID
- jms-exxaro-completion-2026
- Published UTC
- 2026-03-02T05:23:33Z
- Projects
- tshipi-mine
- Commodities
- manganese
Becoming a substantial holder (Pinnacle Investment Management)Corporate Action · LowPartial
Form 603 from Pinnacle Investment Management Group: 100,186,139 ordinary shares, 5.10% voting power as at 10 February 2026.
- Document ID
- jms-pinnacle-603-2026
- Published UTC
- 2026-02-13T05:25:40Z
- Projects
- —
- Commodities
- manganese
Mineral Commodity Summaries 2026: Manganese (USGS)Commodity Data · MediumExtracted
USGS manganese chapter (ver. 1.1, March 2026): 2025e world mine production 20,000 kt manganese content (2024: 18,700 kt); world reserves 1,800,000 kt; South Africa mine production 7,600 kt (2025e) and reserves 550,000 kt; South Africa estimated to hold about 70% of world land-based manganese resources. Retrieved as a PDF for this run.
- Document ID
- jms-usgs-mcs2026-manganese
- Published UTC
- 2026-02-06T00:00:00Z
- Projects
- —
- Commodities
- manganese
Exxaro satisfies all conditions for acquisition of manganese interestsTransaction · HighPartial
Announcement that Exxaro has satisfied conditions for the Tshipi transaction; completion expected by 27 February 2026. Terms as completed on 2 March 2026 (see the completion announcement).
- Document ID
- jms-exxaro-conditions-2026
- Published UTC
- 2026-01-29T23:05:44Z
- Projects
- tshipi-mine
- Commodities
- manganese
Notification regarding unquoted securities (4 December 2025)Corporate Action · LowMetadata Only
ASX notice of unquoted securities issued in December 2025 (director rights exercised into ordinary shares); captured through the share count reconciliation in the 2026 Annual Report, Note 13.
- Document ID
- jms-unquoted-2025-12-04
- Published UTC
- 2025-12-04T01:00:00Z
- Projects
- —
- Commodities
- manganese
High-Purity Manganese Sulphate Scoping StudyStudy · MediumPartial
Scoping study for a high-purity manganese sulphate plant using Tshipi low-grade ore: mid-case post-tax NPV at 12% of US$260m, IRR range 18%-28%, scoping accuracy of plus or minus 30% on opex and 50% on capex. No final investment decision has been taken.
- Document ID
- jms-hpmsm-scoping-2024
- Published UTC
- 2024-03-12T21:26:07Z
- Projects
- hpmsm-project
- Commodities
- manganese
Evidence facts7
1965850551 shares
2026-06-3071097603 t
2026-06-30409077891 t
2026-06-304.28 USD/dmtu
2026-10-319.7 AUD m
2026-09-3086.2 AUD m
2026-09-300.25 AUD/share
2026-11-02