something up or just o/sold?, page-8

re: something up or just o/sold? oz article Well-detected Hardmano.
source: The Australian

'Harmanis digs deep on numbers'
Kevin Andrusiak
August 10, 2005

JUBILEE chairman Kerry Harmanis wants the rest of the mining world to know there is more to life than just profits and resource numbers.
The two words were sprinkled through his address to Diggers and Dealers delegates yesterday, as he warned that arrogance and egos should be kept in check in the current good times.

"There is more to life than just what you can measure," he told the Sydney resources conference. "You really need to look deeper than numbers sometimes."

But market watchers will know that Jubilee has continually come up with some of the best numbers possible from its rapidly expanding Cosmos project in the northern West Australian goldfields.

His personal fortune has surpassed $180 million, as shares keep pushing record highs above $8, tracking each new development at Cosmos where Jubilee is blessed with a number of sweet deposits, including Prospero, Alec Mairs 2 and Anomaly 1.



Prospero has more than 60,000 tonnes of contained nickel, while the resource at Anomaly 1 has many Jubilee shareholders licking their lips.

When asked how he saw the mine in five years' time, Mr Harmanis sighed, but could not come up with an answer that would do it justice.

"Cosmos will develop into a very big system," he said.

"Long after my demise I think they will be mining it still -- a lot like Leinster but in a different set-up. There are just too many indicators and sniffs to say there won't be more discoveries.

"If we didn't have the Cosmos belt, we would be looking like many other companies."

Mr Harmanis is also chairman of Falcon Minerals, which has high-grade, but undeveloped ground at Collurabbie east of Cosmos. He said Falcon, in which Jubilee had a strategic 16.15 per cent stake, had been in discussion with BHP Billiton on developing the project. He stopped short of revealing problems in developing the project with WMC Resources, but said the relationship with BHP had been a lot better.