more blatant ramping

tom924



Joined: 15 Mar 2004
Posts: 35

Posted: Thu Jul 01, 2004 2:16 pm Post subject:

--------------------------------------------------------------------------------

Hi guys,

Rsource calculation at Anomaly 1 were released today showing 270,000 tonnes of Nickel proven in the ground.

At current Nickel prices that equates to approx $5.7 BILLION AUD in the ground at Anamoly 1.

Drilling results were "open ended" meaning more Nickel in all directions.

1200 target drilling results showed Nickel grades as high as 14%, 350 metres from the Cosmos Mine. Drilling is to continue.

Expect a re-rating of JBM.

Cheers.

P.S I increased by JBM holding over the past few weeks to 65% of my portfolio.

*******
yummy
*******

Posted: Monday 02/02/04 11:49am


* VIP

( 365 posts)

JBM is a great buy at $4.17 & severly undervalued. The news of the strike has not yet been broadcast on mainstream media. I believe people are sceptical about the price of nickel, how long it can stay high & about how high it can go. It all sounds to good to be true. However, fundamentals suggest we are only at the beginning of another bull run. For holders of JBM shares & the like time is on our side.
Regards,
Tom.


Posted: Thursday 06/05/04 12:14am


* VIP

( 365 posts)

Hi *********,

Yes I am optimistic.

I do not think any exploration success is calculated at all in JBM's share price.

Because of these reasons;

JBM has currently liquid asset backing of 85.5 cents per share
(Market cap [email protected] a share divided by 107million in liquid assets)

At current earnings(of course subject to change with the nickel price) of around 110million per year after tax(53mill 1st half,JBM is earning more this half) multiplied by 3 years gives you $330million in profits after tax.

Anomoly 1 will share infrastructure with Cosmos keeping costs down.

Emu Lake(60% owned by JBM), has shown to possess high grades of both nickel & copper.

Other prospects currently include but are not limited to;

West Cosmos
North Cosmos
South Cosmos(includes Anomoly 1)
McDonoughs East
Sturt Meadows

At Cosmos, to quote the letter to the shareholders
"the potential to discover additional zones of mineralisation in down-plunge & strike extensions is excellent"

Nickel;
Of course if Nickel prices drop much further from todays prices, things change greatly for JBM. However, China is still going strong & will keep doing so. India is also catching up fast. Current strong growth in Europe, U.S.A & Japan will help to keep base metal prices high.

I think at current prices JBM is low risk/high reward.

JBM director Kerry Harmanis thinks so to. I don't think he spent $270,000 at $3.50 for a flutter.

Cheers,
Tom.

*********

lol, some people just never give up :)

cheers.