The boss of Jupiter Mines is on the mend and the manganese producer has reassured investors they too can expect a “healthy” return in just a few months.

Jupiter earned itself the accolade of the biggest float in years after making its debut on the ASX in April on the back of a successful $240 million raising.

Since the company hit the bourse shares have slipped as much as 19 per cent to trade as low as 32.5c in late May. But this morning’s news gave Jupiter’s share price a nice 14 per cent boost back above its listing price of 40c.

Jupiter told investors that production and sales from its Tshipi mine in South Africa beat the 3.3-million-tonne-per-annum target rate in the first three months of FY2019.

The company’s financial year runs from March to February.

As a result, Jupiter says it expects to bank 2 billion South African rand ($191.4 million) by the end of August and it will give shareholders 1.5 billion rand back in September.

“Jupiter accordingly expects to make a healthy first half-year distribution to its shareholders in September 2018, equivalent to the cash received from Tshipi, well in excess of the 70 per cent distribution policy stated in the company’s prospectus,” chairman Brian Gilbertson said.

Jupiter Mines (ASX:JMS) shares are finally back above the company's 40c listing price.
Jupiter Mines (ASX:JMS) shares are finally back above the company’s 40c listing price.

Jupiter attributed the better-than-expected result to a strong operating performance by the Tshipi mine, a “robust” manganese price, and low cost of production.

CEO on the mend

Investors will likely also be happy to hear that chief Priyank Thapliyal is out of hospital and continuing his recovery at home.

Mr Thapliyal was hospitalised with gallstone-induced acute pancreatitis last month.

Mr Gilbertson – a former BHP boss – has been acting as CEO in the meantime.

Acute pancreatitis is “a common acute surgical condition associated with high morbidity and mortality in severe cases”, according to the Medical Journal of Australia.

However, the mortality rate in Australia is very low at 0.08 per cent.