JBM - Jubilee Mines

[NettAssets]

Well can't really believe this has never had its own thread. unless they die sometimes.

As I posted in Breakouts this is looking pretty darn good today.
Up nearly 6% on above average volumes and 39c above its all time high.

will go and have a look at ANNs .etc and post some more here if I find anything of interest.

 

[NettAssets]

Re: JBM - Jubilee Mines NL

They got a speeding ticket tonight 4PM perth time and have just replied.

we don' know nuthin

 

[rozella]

G'day NettAssets,

I unfortunately left a lot on the table with this one, selling on exdiv day (yesterday) at an ordinary price 918.0 CFDs, 908.0 margin account.
Still made my expected profit but could have been better.

JBM,060825,880,890,880,886,1461098
JBM,060828,894,910,894,903,380585
JBM,060829,910,920,905,910,1095725
JBM,060830,910,910,893,898,1305646
JBM,060831,900,928,895,918,1952961
JBM,060901,928,934,922,925,1474628
JBM,060904,900,930,892,929,1750106 exdiv day, dividend 27.0 fully franked
JBM,060905,918,988,915,983,1264370

 

[NettAssets]

Hi Rosella

I haven't been following your dividend trades using CFD's. have you a thread somewhere explaining this?
thanks
NA

 

[Ferret]

JBM seems to be a quality mid sized miner and must have been on takeover radars for a while.

I've held some for 12 months and, while they are a bit volatile, I've not seen them jump like this before. Something must be on.

Ferret

 

[NettAssets]

Have just seen the post from Wayne tonight.

$1000 per tonne increase in nickel price someone must have got wind of that I think.

I had a bid in for JBM calls all day and couldn't understand why it wasn't being filled.

I think I might try the Dutch auction system and bid my last bid first - or just pay the Ask straight up.
By open tomorrow I might be glad I missed out!!!!!

NA

 

[Ferret]

$1000 would be a big jump tonight, but nickle has also had big losses the last couple of days during which JBM has gone ex 27c and still powered up.

My bet is still takeover activity. I'll hope so anyway cos JBM doesn't fit my profile for long term hold and I'd be well pleased with a $10+ offer.

Ferret

 

[rozella]

Hi Rosella

I haven't been following your dividend trades using CFD's. have you a thread somewhere explaining this?
thanks
NA

G'day NettAssets,

No I havn't, I have only just returned to trading some CFDs in the last month. I have had a break from them of about 3 years, but since DMA is available now, it suits me better.

 

[Fab]

Has anyone read their annual results ? I am wondering if this one is likely to keep going up

 

[Ferret]

Annual report says drop in production expected for 06/07 followed by good increase in following years as new developments come on line. They have had good exploration success.

At the moment seems to be going up just on the basis of the nickel price.

Interestingly, one director is selling and this knocked the price down a few days ago.

Ferret

 

[Brasidas]

JBM gets a mention in this week's Minesite weekly roundup which is here

That Was The Week That Was … In Australia

By Our Man In Oz

Minews. Good morning Australia, another week, another record?

Oz. It certainly was for some stocks, especially those selling zinc and nickel to the steel industry. You probably saw the same reports we did down this way, that the world has almost run out of zinc, and the nickel price is showing no sign of retreating from its astonishingly high levels. The end result, naturally, is that zinc stocks such as Zinifex (ZFX), Perilya (PEM), CBH (CBH), Kagara (KZL) and Terramin (TZN) have moved into the stratosphere, joining the nickel brigade who where already up there.

Minews. A few price examples please?

Oz. Zinifex hit a 12-month high of A$15.05 during Friday trade, before settling back to close the week at A$14.65, a gain of A$1.14 (8.4 per cent), Perilya was up A70 cents (20.8 per cent) to A$4.05, down a fraction on its 12-month high of A$4.10 reached on Thursday and Friday. Kagara also set a 12-month high on Friday of A$7.34, before easing back to A$7.21, still up A82 cents (12.8 per cent). CBH, which received a severe setback at this time last year with a stope collapse in its Endeavour mine, was up A5.5 cents (8.8 per cent) to A67.5 cents, also a modest retreat from its high of A73.5 cents set on Thursday. Terramin, which is developing a small zinc mine close to Adelaide in South Australia, was up A14 cents (8.9 per cent) to A$1.70, down from a Thursday high of A$1.75.

Minews. And the nickel sector was strong again?

Oz. Yes, but not to the same extent as the zincs. Jubilee (JBM), which held its annual meeting during the week and said takeovers were off its agenda, was up a modest A20 cents (1.6 per cent) to A$12.60, down on its cracking start to the week when the stock hit a 12-month high of A$12.98. Western Areas (WSA) put on A25 cents (7.4 per cent) to close the week at A$3.64, also down from its 12-month high of A$3.79 set on Tuesday, and Minara (MRE) was up A11 cents (2.2 per cent) to A$5.20, which was some distance behind its 12-month high of A$5.55 set last week. .. more ..


http://www.minesite.com/storyFull5.php?storySeq=3894

 

[Ferret]

A big day for JBM today. Was up nearly 10% at one point.

Don't know the reason, but I guess it was on the back of the Xtrata bid for Canadian nickel miner Lionore. I suppose people are wondering what JBM is worth as a target.

I feel RIO would like to get hold of the likes of JBM to boost its nickel position. RIO has the cash, but also is reluctant to buy assets at the top of the cycle. I'm watching with interest.

Ferret

 

[overule]

What's now with JBM ?

Nickel and Tin sound like the next big things.

What do you guys think ?

-overule

 

[greenfs]

As I have said under other threads in this forum, the market continues with rumours that management contniues to receive approaches from BHP behind closed doors in London.

This rumour has been ongoing from many sources and it includes varying likely sale price anywhere between $20-$24.

You gotta love the stock for what it has achieved these past 5 years.

 

[Kauri]

As I have said under other threads in this forum, the market continues with rumours that management contniues to receive approaches from BHP behind closed doors in London.

This rumour has been ongoing from many sources and it includes varying likely sale price anywhere between $20-$24.

You gotta love the stock for what it has achieved these past 5 years.

Still only a rumour, but it does sound like it may have legs... will be an interesting day...
Cheers
..........Kauri

Sydney,
October 29: It has been reported by AAP a short time ago that UK-listed Xstrata
has made a 3.1 BLN AUD offer for Australian nickel miner Jubilee Mines. The
offer, through subsidiary Ithaki Australia Pty Ltd, involves an all-cash offer
of 23 AUD per share, representing a 35% premium over Jubilee"s closing price of
A$17.10 October 26. The AUD/USD trades 0.9195/0.9200.

 

[Jaybee]

Jubilee company announcement on ASX this morning confirms Xstrata's cash offer of $23.00 per share. Jubilee board have unanimously recommended acceptance.

 

[rowes]

current share price today.... $23.80 Woohay now thats one nice jump after finishing on friday around $17.10!!

 

[Lert]

Xstrata are now up to 18.5% holding and promising quick payment if their offer is taken up by 6th December.. Looks like most holders are waiting for a better offer. What do people think?

 

[Ferret]

Well, I'm waiting a bit since they are trading at the offer price so won't go any lower.

I don't hold out much hope of a higher offer though. BHP was the most likely bidder since they have an offtake agreement with JBM, but the RIO business has put an end to that.

 

[Lert]

Thanks Ferret... I've just had my second call from an Xstrata rep. filling me in with details of their offer which I already know about.. how Kerry H. has already sold his etc etc.. Seems a little unusual to me that a bidder is doing a ring around of shareholders, even minnows like me..