Jupiter Mines Set to Benefit From Rising Manganese Prices -- Market Talk

Dow Jones04-23

2255 GMT - With South32's Australian manganese operation offline for longer than expected, there's an opportunity for other miners to benefit from rising prices. Euroz Hartleys lifts its price target on Jupiter Mines by 25% to A$0.40/share, estimating the Tshipi manganese mine that it part owns will generate A$230 million of Ebitda in FY 2025. "We estimate that every US$0.25/ton in long term manganese prices is A$0.06-A$0.07 increase to our Jupiter Mines valuation," analyst Trent Barnett says in a note. "Hence, the leverage to manganese prices is huge." South32 on Monday said its Gemco--Groote Eylandt Mining Company--operation in Australia's Northern Territory likely wouldn't be in a position to export manganese until 3Q of FY 2025 due to cyclone damage. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 22, 2024 18:55 ET (22:55 GMT)

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Euroz Hartleys lifts its price target ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XJO.AU","symbol_name":"标普/澳交所 200指数","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429900607","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429900607","pubTimestamp":1713826500,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2255 GMT - With South32's Australian manganese operation offline for longer than expected, there's an opportunity for other miners to benefit from rising prices. 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