1‌‌

1

JUPITER MINES LIMITED ABN 51 105 991 740 AND ITS CONTROLLED ENTITIES INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 AUGUST 2016

2

1

CONTENTS

PAGE(S)

Directors' Report

2

Auditor's Independence Declaration

4

Consolidated Statement of Profit or Loss and Other Comprehensive Income

5

Consolidated Statement of Financial Position

6

Consolidated Statement of Changes in Equity

7

Consolidated Statement of Cash Flows

8

Notes to the Financial Statements

9-17

Directors' Declaration

18

Independent Auditor's Review Report

19-20

3

1

DIRECTORS' REPORT

Your Directors submit the financial report of Jupiter Mines Limited ("Jupiter" or the "Company") and its controlled entities ("the Group") for the half-year ended 31 August 2016.

Directors' Details

The names of Directors who held office during or since the end of the half-year are:

Mr B P Gilbertson Non-Executive Chairman

Mr P R Murray Independent Non-Executive Director Mr A Bell Independent Non-Executive Director

Mr P Thapliyal Executive Director

Mr S C Shin Non-Executive Director (Resigned 31 March 2016) Mr S W Yoon Non-Executive Director (Appointed 31 March 2016)

Directors were in office since the start of the period unless otherwise stated.

Review of Operations and Results

During the half year period, Jupiter continued to focus on the continued increased production at the Tshipi Borwa mine in South Africa. Tshipi has grown to become one of the five largest manganese operations globally and has one of the largest and shallowest resource bases in South Africa, which provides safety and cost benefits.

A profit of $8,937,021 has been recognised from Jupiter's investment in Tshipi for the half year period. The six months since the year end has seen a sharp increase in the manganese price, and this increase continues. Due to tight cost controls and these strong revenues, the current financial year will be a record breaking one for Tshipi, with production and profitability targets comfortably exceeded.

The Mount Ida Magnetite and Mount Mason DSO Hematite projects remain under care and maintenance.

The consolidated result for the half-year was a $13,810,486 profit after tax (2015: loss of $5,133,049 after tax).

Set out below are the announcements and activities of the Company in the period:

1 December 2015

The Company released the Interim Financial Report - Half Year Ended 31 August 2015

15 December 2015

The Company announced the "Tshipi CEO Appointment"

4 April 2016

The Company announced the "Director Appointment and Resignation"

16 June 2016

The Company released the "Annual Report 2016" and "Notice of 2016 Annual General Meeting & Sample Proxy"

13 July 2016

The Company released the "Results of 2016 AGM" and "Jupiter Mines 2016 AGM Presentation"

4

1

DIRECTORS' REPORT (continued) Auditor's Independence Declaration

The lead auditor's independence declaration under Section 307C of the Corporations Act 2001 is set out on the following page for the half-year ended 31 August 2016.

This report is signed in accordance with a resolution of the Board of Directors.

Brian Gilbertson Chairman Perth

Dated this 19th day of December 2016

Jupiter Mines Limited published this content on 19 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 December 2016 03:28:06 UTC.

Original documenthttp://www.jupitermines.com/images/jupiter---oonohphooy.pdf

Public permalinkhttp://www.publicnow.com/view/B9C4FC00DC3A3D5CFDA21CE5A95FD76A22311963