re: jbm v mcr the big picture I understand the enthusiasm for...

re: jbm v mcr the big picture I understand the enthusiasm for MCR
– Similarities to JBM as it has had to fight for market enthusiasm.
Huntley’s nearly has always had them as a sell –JBM that is.
One of WA brokers told me to sell them at $1.20.

What the future holds is anyone’s guess –
But the graph looks good (JBM & MCR)
Production for 06/07 will be abit skinny.
Suggests 15/20000 ton possible by 2008
JBM holds: 26% NST
17.4% PIO (+ 60/75% Acra Joint Venture)
16.15% FCN (30% interest in the Collurabbie Project)
-- And a few others.
-- $173 million cash and receivables – no debt.
You could do worse --- I would still like a script bid.


Thought I would post these grades to give some indication of the viability of Anomaly 1.

Mt. Keith: (WMC) 376 million tonnes @ average grade of 0.52 per cent nickel
Leinster: (WMC) 32.6 million tonnes (underground) grading 2.3 per cent nickel
156 million tonnes (open cut) grading 0.6 per cent.

Anomaly 1: (JBM) 53 million tonnes at a grade of 0.62% nickel