JBM jubilee mines nl

re rate

  1. 25,205 Posts.
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    I doubt JBM has a lot of upside even if Cosmos proves up, (and it probably will because of the type of structue it is ) as most feel there is longer than the projected end of mining in 2008. But then there is little downside here to, It will probably trundle along in the $4.00 to $5.30 range for the next couple of years and people will get fat dividends.
    This is just a supposedly good safe stock to put your loot into after the win from iron ore stocks like FMg or PMM. In reality though if China capitulates then all mining stocks except gold will fall.
    Now if a takeover offer is made that is a different story but unlikely, since the offtake agreement could be revoked.
    Nickle prices wil probably pull back next year but the company should have around $170 M in the bank by then which will artificially maintain the stock price.
    many of the new Ni mines are proving to be a lot harder to make money from than anticipated even atUS $6.70 a pound you only have to read the financials of companies like FXR and AUZ so I doubt the new players are going to have much of an affect on the market, as they are cannabalising old mines using air legs instead of more productive mechanised mining. the bigest problem is substitution of manganese for Ni in steel (not stainless)
    I hold
 
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