Australian (ASX) Stock Market Forum

JML - Jabiru Metals

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steven1234 said:
Some days (well most days) i just wish i had internet access to the future... i don't care to travel there, i just want the information.
Click to expand...

You need to speak to Yogi. :D :p:
 
well an ann from JML today confirming that jaguar resource is open at depth and have intersected significant mineralisation that following more drilling will be able to add additional tonnage to deposit.

JML has held up very well when zinc stocks have come off, and considering market lost 150 odd points yesterday. IMO JML will be a great up and coming producer. large volumes today and yesterday.
 
Well I like it.
Technically broken out of a resistance/consolidation area.
I think tomorrow generally will be a blood bath again.
So have only a part position looking for a better entry in future.
 
Too much good news & press coverage atm, when things quieten down I'll be back in. ;)
 
Willing to stick my neck out here and say I very much doubt it will be a TO offer due to ConsMin's big stake. JML will be a predator, rather than a target in the short term. Jaguar must be just about due for first production now, which leaves lots of cash flow looking for a home and a need to grow the company. If not now, I expect some acquisitions in the next 6-18 months.

More than likely it has something to do with their arrangements with ConsMin or production from Jaguar.
 
Having thought about it more - JML is in play once Consmin gets taken over. But not likely for a few months yet.

Pallinghurst is unlikely to want to be a passive investor over the long term, which leaves them the choice to either divest of their $130million odd of JML or buy the rest.

Pallinghurst's holding could provide an entry for the likes of the Ox to get involved who not only are fans of zinc but share some facilities with JML.
 
http://www.news.com.au/heraldsun/story/0,21985,21458921-664,00.html

Jabiru wins mine licence
Mandi Zonneveldt

March 28, 2007 12:00am


THE controversial Benambra mine in East Gippsland could be re-opened after a fierce battle for exploration rights over the area.

Zinc junior Jabiru Metals looks set to take control of the former mine, which closed in 1998 leaving the Victorian Government with a $6.9 million clean-up bill.
Plummeting commodity prices sent Benambra's former owner Denehurst into administration, but the boom in metals meant there was stiff competition for the exploration licence.

Thirteen companies submitted bids to explore for zinc and copper in the area, with the Government yesterday declaring Jabiru the victor.

Shares in the Perth-based zinc junior were placed in a trading halt following the announcement, but the stock is likely to soar as a result of the win.

The government has estimated there could be resources worth as much as $US2 billion ($A2.5 billion) in the ground around the old mine.

Benambra was discovered by WMC in 1978, and was mined for six years until Denehurst was placed in the hands of administrators.

Austminex acquired an option over the project in 1999, but abandoned it due to the continuing decline in zinc and copper prices, leaving the Government to clean up equipment and potentially hazardous waste materials left by Denehurst.

Jabiru will be given the rights to explore the area after completing native title negotiations and is likely to be forced to lodge an environmental bond before proceeding with any new development.

It may also be required to process ore off-site if its exploration efforts are successful.

Jabiru is expecting production from its first mine later this year, with projected cash flows of more than $100 million annually.

The company's shares last traded at $1.125.
 
this is fantastic news for holders. this is actually the only zinc stock ive held from last years run. JML price has held up exceptionally well throughout all the fluctuations in zinc stockpiles and zinc spot price.

JML set to become a great mid-tier mining company. huge exploration potential and mine coming online in the next few months!
 
This is absolutely brilliant. Well done JML management. That should put Jabiru into a whole new basket, a diversified miner.....
 
many people still on this?

JML looking good stockpiling 5000 tonnes material for production. that is from teutonic bore resource.

operating licence granted also, now we just have to wait for first zinc concentrates to come out!

they also intercepted further mineralisation down plunge of the jaguar resource. in addition to this the benambra project is looking to be a priority and has a lot of plans for this year.
 
Yep still holding from May last year. Has been a good hold although has tested patience at at the start.
 
steven1234 said:
Trading halt announced this afternoon.
Click to expand...

Yeah! big kick in the guts for normal share holders, placement at $1.05 available to "Hartleys"? only. What's the current sp? $1.21. Will this type of institutional "insider trading" ever be cracked down upon? :banghead: - not a chance.:mad:
 
jabiru overcoming final hurdles set to become next mid-tier miner, jabiru almost started production and benambra for their next big project. mgt have done excellent job so far and continue their great work.

i originally entered this one around 7 months ago with a view to exit after 6 months, however mgt performance and great fundamentals have changed my mind, ill be holding this one long term to see upside from other projects.

http://www.mineweb.net/mineweb/view/mineweb/en/page66?oid=19226&sn=Detail
 
I agree, JML is growing into something very different to what is was 6 months, or even 2 months ago (jaguar extends at depth, addition to all ords index, banemera project, no more debt, money at their disposal and positive cash flows in the near future).

As this becomes more evident the price should reflect this, but i must admit the placement at $1.05 was cheap. Lets see what management can now do with all the cash and watch it turn into some value for JML. I wonder when we can expect a dividend...
 
I agree that Jabiru's a great soon to be miner with terrific prospects, I'm just surprised a few more ordinary investors aren't blowing a fuse over the $1.05 placement.:banghead: Like get real! it's not something to be all cheery about.
"Oh goody! our wonderful management team are so good they're just scr*wing us scum! investors over again, but that's OK, if we keep smiling we'll get the scraps eventually":) :D !!!

:mad: :banghead:
 
we had priority placement recently already. not too happy that i didnt get some but not to fussed either. sp has held up very well regardless.

mgt have done more than excellent job in developing resource and extending company project base for future expansion.
 
I have been watching this forum (and stock) for a while but was concerned at the fact that Consolidated Minerals held 30% of the stock of the company.

Regarding the recent Trading Halt, the reason for the new placement of shares was given as:

The monies raised provide Jabiru with the opportunity to:
• pay off the ANZ Bank/Consolidated Minerals Limited debt facility and establish a replacement facility;
• continued exploration of the Teutonic Bore Exploration Project; and
• fast-track exploration and feasibility of the Benambra Project subject to the granting of the exploration licence for the Benambra Project by the Victorian Government to Jabiru as announced to ASX on 5 April 2007.
Click to expand...

Does this mean that they are paying back a loan from Consolidated Minerals?

If so, does that change the amount of shares that Consolidated holds in the company (ie were the shares in return for the loan?)

Any speculation as to the reason for this from the perspective of both companies?
 

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