hartleys placement

bit disappointing (as it pretty much does my dough on the options I expect) but it indicated one thing to me...

Although most of the placement monies are intendd for exploration, some as indicated is intended for refurbishment etc (ie part of CAPEX).

This indicates to me that JML is intending to minimise the use of debt in its financing arrangements...because it also wants to minimise hedging.

Causes a little short term pain, but long term gain.

Its interesting that the placement was through hartleys again...hartleys will control a very large portion of JML after this and shows why its Kevin Tominson's (Hartleys small miner expert) no. 1 pick (or at least it was last time i checked).

The fact is though that it has a very viable mine which will provide net cash flows of around 10 mill per annum for 6 years and that resource extensions, as well as new deposits outside current resource area are likely to be found, due to the nature of the geology (their words not mine).

I have 380G shares @ avg price of 18c and some options, so my money is where my mouth is.

Cdchi1