From today's ASX release:
"Premium of 36% to the 30-day volume weighted average price and 35% over the closing price of A$17.10 per Jubilee share on 26 October 2007
Unanimously recommended by Jubilee’s Board of Directors"
Comment:
In a massive resources boom shareholders should JBM shareholders only expect a paltry 36% rise in share price in what is Australia's premier stand alone nickel producer?
Add the rest? Try a 100% premium just for starters.
Look at low PE this bid prices JBM at. (At present, due to 20 years of commodity bear markets PEs for resource stocks are well below what they have previously been during bull markets.)
Look at the low valuation placed on JBM's current in ground nickel resources.
Look at the low valuation for JBM's massive exploration upside.
What a joke.
Remember ... think about what the Western Mining share price would be now for shareholders with its massive uranium and nickel resources if this had not been diluted into BHP by takeover a number of years ago for what I said at the time was an absolute pittance.
JBM
jubilee mines nl
