• Revenue increased 48.3% to $4.3 million
• Profit after tax of $14.0 million, down 2.1% from prior period
• Interim dividend of $0.0075 per share declared

Jupiter Mines Limited has reported its half-year results for the period ended 31 December 2024. The company's principal activities during the period were its investment in the Tshipi manganese mine in South Africa and the sale of manganese ore. Jupiter recorded a consolidated result for the half-year of $13,983,749 profit after tax, including a share of net profit from its investment in Tshipi of $15,429,353. Tshipi's net profit was marginally lower than the previous half-year period due to an increase in mining and production volumes and an increase in unit cost of production. Tshipi's sales volumes remained on target to meet the business plan on an annualised basis, however were behind plan for the half-year period due to logistics challenges and the cessation of low-grade ore sales. Jupiter continued to refine and align its ESG framework, with Tshipi reporting significant progress in its B-BBEE performance during the period. The company also advanced its study work on producing High-Purity Manganese Sulphate Monohydrate (HPMSM) for the electric vehicle battery market, with the Pilot Plant replicating commercial operations and enhancing product quality and lowering operating costs. While EV adoption continues to grow, HPMSM prices remain subdued due to oversupply in China, and Jupiter is maintaining a cautious approach to timing any entry into the EV battery market.

Jupiter's share of Tshipi's net profit for the half-year ended 31 December 2024 was $15,429,353.

Jupiter is maintaining a cautious approach to timing any entry into the EV battery market, advancing study work without committing significant resources until optimal pricing and market conditions return.