i hear a takeover coming, page-8

guys,

based on current production numbers and half yr EPS figure lets say they make 170-180cents per share

prospective PE can be 10 if only because of trustworthy management always DELIVERING and saying now that they will definately increase production in the future.

We can trust kerry harminis - hes never let us down!

So im happy to give a prospective P/E of 10

EPS dont forget is based on only around 9,000-10,000 tonnes production

Imagine prices are higher than this or about this level once they ramp up production above current levels!

price should be about 18 dollars on prospective P/E 10 with upside from exploration and production ramp ups!

Exploration wise, we know theyll keep on finding more and more based on past performance.

gr8 entry point if you believe in nickel

also has long dated high leverage warrants where you only have to put down half the value of share and the rest is leveraged + u still get divvys !

I reckon like AQP (aquarius platinum) a few yrs ago when it was trading at 8-9 dollars and said that they will ramp up production considerably in future cause they found so much quality platimum,,,, JBM can do the same as theyll find more and more nickel!

AQP now trading at near $40!

If JBM makes another few discoveries and keeps increasing the resource/reserves, theyll be trading at much higher price in future with increased production.

Nickel price of course is a key factor, but even if it drops a little (doesnt look like it will though cause of major delays on the larger projects due to cost blowouts), any drop in price can be offset by a major increase in annual production!

In 2001 if you told me that AQP would be $40 idve laughed at you.

JBMs future is bright and the smart money knows this.

harmanis has said that hes already been approached b4. Itll prob be taken over eventually once they find more and more nickel. Inco that has 5% or so would prob snap em up after JBM do all the hard yards exploration wise.