Jan 21 (Reuters) - Jupiter Mines Ltd JMS.AX :
* ANNOUNCES DEMERGER AND IPO OF ITS CENTRAL YILGARN IRON ORE ASSETS
* JUNO INTENDS TO ISSUE 120 MILLION SHARES TO CO IN EXCHANGE FOR CYIP ASSETS AND $5 MILLION IN SEED CAPITAL, PROVIDED BY JUPITER
* PUBLIC OFFER WILL BE MADE OF UP TO 80 MILLION JUNO MINERALS SHARES TO RAISE UP TO $20 MILLION
* JUNO IPO TIMED WELL GIVEN STRENGTHENING OF IRON ORE MARKETS AND FOCUS BY STEEL MILLS FOR HIGHER GRADE ORE