my end of week rant on jbm.you have been warned

Hi guys,

Nickel got absolutely hammered on Thursday night & was down during ASX trading today.

In a Herculean effort on reasonable volume JBM somehow etched out a 8 cent, 1.9% rise.

This one definetly wants to go up but it's hard to see it happenning if Nickel falls again tonight.

I do believe that once Nickel finds support, both JBM & Nickel prices will rise strongly.

Price support for Nickel I believe is very close. Once it hits that support it will jump to over $7 us/lb & continue on to test if not breach 1988 records of $10.84 us/lb.

If Nickel doesn't breach $10.84 us/lb within the next 6 months it will be due to a strong U.S.A dollar.

In Australian dollars Nickel is still lookin great & will be looking much better in a few months.

With JBM,

Some unanswered questions,

Who's buying?, Who's selling?

It seems by the response in chat rooms that most day traders are out?

Who was the U seller on Wednesday?

Was the U seller the one dumping at market, into the rally?

Was the U seller just trying to create selling pressure & buying at the same time????

Where were the at market sellers today?

Who were today's buyers???

Why is JBM up nearly 2% when Nickel just got hammered over 5%???

Is nobody shorting this stock anymore like 6 months ago?

Were shorters perhaps buying back today ?

IMO it does look like JBM will not see $4 again.

With the projected boom in Nickel prices before Xmas & constant good news coming from JBM it's hard not to predict $5+ before Xmas.

PE is 5.54 & looking to rise.

Dividend Yield is currently 10.8% Fully franked & looking to rise.

NPV is going through the roof over the next 6-12 months.

HUNTLEYS JBM's biggest critic(calling JBM a sell since $1.45) values Cosmos at $2.53 per share pre-tax.

$2.53 per share at $5 US/lb (Nickel has spent about 2 weeks at $5 US/lb or UNDER since late October 2003).

Cosmos has current KNOWN reserves until 2008.

Cosmos produces 12,000 tonnes of Nickel a year so it estimated it has approximately 48,000 tonnes left to produce(if it runs out August 2008)

Alec Mairs deposit "more recent drilling hit 1.8m at 3.72% nickel, 1.21m at 12.62% nickel and 4.64m at 4.31% nickel."

JBM's comments suggest Alec Mairs deposit is very similiar to Cosmos.

Cosmos has already produced net profits in total of $190 million.

Alec Mairs deposit only needs to contain 48,000 tonnes of Nickel for JBM's NPV to effectively double.

Anomaly 1 with 270,000 tonnes of Nickel valued at over $2.5 Billion at $3.50 US/lb will come into play later in the year.I don think it is factored much if all into the shareprice by brokers.

Emu Lake & other projects are just wild cards which I believe are also not factored into JBM's Current share price by brokers.

Any good news on Emu Lake &/or other projects I believe, will just be cream on top.

Note;
JBM still makes up 75% of my portfolio with an average buy price of $3.99 & 50% capital gain discounts in the waiting SO I A BIASED!.

However I am sincere & the "numbers" I do believe will pass any scrutiny.

Check them for yourself & let me know what you guy's think.

Cheers.