Introduction
Less than two months ago, I wrote a SA article discussing the potential IPO of the Central Yilgarn iron project in Western Australia, which is a non-core asset of South Africa-focused manganese ore miner Jupiter Mines (JMXXF). My conclusion was that the spin-off would be valued at some $117.9 million ex-cash at $75 per tonne of iron ore and assigning a 0.1x times the net present value to the Mount Ida magnetite project and Mount Mason hematite project, which form Central Yilgarn.
On September 4, Jupiter released an update on the spin-off, with several