the ear was right

Gilbertson quick off mark at Jupiter
The West
13th March 2009, 8:15 WST



Brian Gilbertson has wasted little time stamping his authority on Jupiter Mines, installing Geoff Wedlock as executive chairman and relocating the iron ore junior’s corporate head office from Sydney to Perth.

Mr Gilbertson, who only secured control of a 55.5 per cent Jupiter stake on Monday, yesterday also affirmed the junior’s focus on advancing its iron ore assets north-west of Kalgoorlie-Boulder as well as a manganese project near Consolidated Minerals’ Woodie Woodie mine in the Pilbara.

Mr Wedlock, who also sits on Mid-West iron ore player Gindalbie Metals’ board as a non-executive director, joined Jupiter’s board as a non-executive director following Monday’s shareholder meeting at which motions to cede control to Mr Gilbertson’s Pallinghurst Resources and associated company Red Rock Resources were approved.

Mr Wedlock’s promotion to executive chairman, replacing Paul Murray who becomes a non-executive director, will further heighten expectation that Jupiter is looking to acquire a bigger iron ore project.

Mr Gilbertson is well-known as a shrewd dealmaker and is known to have expressed an interest in buying Fairstar Resources’ 18.3 per cent stake in Golden West Resources, owner of the 126 million tonne Wiluna West project.

Jupiter, which has $11 million in cash and liquid assets, said in a statement yesterday it intended “to expand its portfolio of steel-feed related commodities”.

Jupiter shares closed steady at 11¢.

PETER KLINGER