I said before I would sell when Kerry starts selling, well he sold some.
I saw the trade of 500k shares at $8.27 at about 3.47 pm that day.
It's hard to credit it, but shares in Jubilee Mines 10 years ago were selling for just 4¢ each. “It was a real penny dreadful,” admits executive chairman Kerry Harmanis. It sank so low that cash was next to impossible to get, so its founder bought placements at 5¢, 9¢, 12¢ and also at 20¢ to keep it from going bust. Even if few others had faith, he did.
http://bulletin.ninemsn.com.au/bulletin/site/articleIDs/DAD87A94A3ACA39DCA256F4F00104DB5?open&ui=dom&template=domBulletin
The last Kerry bought on Market he was paying $3.50.
A healthy profit with Dividends.
He was short 5+ Million in cash as we all often are.
He keeps his remaining 17%+ of JBM shares.
Barklay's are still sitting pretty as are all long term holders.
Shorter term is much more voliatile.
$7.50 is still looking unbreakable imo before dividends next month, after that is another story.
The volume is too strong especially the break above $8.
JBM has probably run too far, too fast but any pullback should be minor before dividend date.
THe Bull Run still remains intact & a target of $12-$14+ for 24 month traders.
Strong dividends always command respect & will suport the share price.
Upside much bigger than downside longer term.
Time to take profits???
If JBM looked like falling to $6 I would still keep holding.
At that time i wILL ACCUMULATE.
JBM still makes up about 60% of my portfolio but I guess that is why I have had a good year:)
Let the good times roll.
Cheers.
JBM
jubilee mines nl
