re: nickel prices & the crystal ball/spikeozzy Hi SpikeOzzy,
IMO, JBM is a bargain right now for those with at least a 1-2 month + time frame imo.
Comparing JBM & Nickel Charts, I see,
Strong support for JBM at around $4 when Nickel is trading at $5.50us/lb.
If Nickel were to drop to $5us/lb suddenly, JBM would get strong support at $3.60 & above.
I do not expect downside risk for JBM to last more than a couple of weeks.
Coming announcements will provide strong share price support even if Nickel dropped to $5us/lb(worst case scenario).
I believe JBM reaching Alec Mairs deposit(which it will do within the next 3-5 weeks) could be worth at least 40 cents a share in broker support.
Commencement of a BFS at Anomaly 1(happening within 3 weeks), should also add some more optimism.
Risk/reward regarding JBM over the couple of months from $4 is,
10% down max(very short term, perhaps intraday only)
50%+ up ($6+ a share).
I am not suggesting WILL be $6+ coming February 2005 but just that it is a distinct possibility.
JBM is being tipped by many as the most likely takeover target in the Nickel Sector.
WMR jumped 40% on news of a takeover.
Without a takeover offer, Anomaly 1 & Alec Mairs will be solid share price drivers.
JBM has returned 56% per year on average for the Last 5 years.
Over the last 1 year JBM's share price has only gone sideways but some have been accumulating big.
If JBM's share price was to reach $6+ sometime over the next year it would just be business as usual at JBM.
cheers,
Tom.
JBM
jubilee mines nl
