Those posts are appreciated. Trebled my holding today, and tried to get a few more below 1150, but it ran up while I was out.
Been doing the numbers from every angle the past few weeks, and comparing it with IGO, which I have heaps of. I don't believe people are adequately factoring the value of low costs in either case. Just been trying not to catch the falling knife as I did with my IGO topups. At 1145 I can't complain.
JBM upside looks huge to me, and because of the low costs current sp looks safe to me even if pon goes low enough to squeeze some of the higher cost operations back on production. The rise on any pon bounce should be a lot more subdued than with the low margin, high volume producers, but after the past few weeks happy to forgo the high transient gains for more sustainable and stable ones. The real gains will come from exploration and production increses. pon gains only a bonus for JBM.
Like the div yield too, should be attractiing the yield investor at these low levels. At $12 a 70 cps annual div (expected?) gives a grossed up return over 8.3%. Not bad for a long life, low cost growth company imho!
EL
JBM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held