Let's leave dwecke's ramping to one side for the moment. I never see any facts from him/her. Chinese are buying...Chinese are buying...$1.50+...blah blah blah...I hold...
I will put my house on Jincuan not buying another share. All they want is the offtake agreement and the ability to block a takeover (they are at 10% so they can do that). The idiots at AGM gave them an offtake agreement for EVERY SINGLE BIT OF NICKEL THEY FIND IN TASMANIA. What the hell did they do that for? BHP/XTA/everybody else is scrambling for high grade nickel and paying big $ for it. Just look at JBM and the reserve multiples implied.
Consensus eps is for 14.8cps in FY08 according to Bloomberg. High single digit PE should get you to somewhere a bit north of $1/share, which is about right I reckon in the medium term.
AGM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
