JML - Jabiru Metals

[doctorj]

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

No. CSM acted as guarantor for JML in an agreement that was separate (but probably motivated by) their equity in JML. I haven't read info about the placement, but if its all to hartleys it will only reduce CSM's holding in JML by way of dilution - ie. they'll hold the same number of shares but it'll be a slightly smaller percentage of the total.

 

[ozambersand]

Thanks for that explanation.

Pity about that

Won't touch them with a barge pole while CSM holds 30%

 

[dj_420]

why not touch them with a barge pole??

they have had excellent returns this last year, are the only zinc stock in recent months to continue to make new highs, are a month or so out from production (set to be very low cost producer), have secured benambra for future development.

are also one of the only stocks who post ann when they promise them and mgt have done excellent job in keeping market informed etc.

i think JML will end up been the cornerstone of my portfolio, they are set to become a great mid-tier mining company.

 

[dj_420]

nice article on JML in AFR today, 12 month chart and a little run down on how the company has emerged as a mid tier miner. looking good for the future.

 

[ozambersand]

I agree totally with you and think Jabiru has the potential to be a good stock, but I don't like the fact that Consolidated Minerals is a major shareholder!

Especially if Consolidated Minerals gets taken over by Brian Gilbertson's Pallinghurst Resources.

Just a personal feeling (and I know you shouldn't let those impact on your share market dealings!)

 

[dj_420]

I agree totally with you and think Jabiru has the potential to be a good stock, but I don't like the fact that Consolidated Minerals is a major shareholder!

Especially if Consolidated Minerals gets taken over by Brian Gilbertson's Pallinghurst Resources.

Just a personal feeling (and I know you shouldn't let those impact on your share market dealings!)

what do you see wrong with the CSM holding? just curious

 

[dj_420]

well guys JML reached a milestone today by intersecting the jaguar deposit and delivering the first truckload of ore to the crusher pad!

looking good now for production to be on time!

 

[Kipp]

Knocking on the door of all time highs yet again... (though seems to break them every month...) if it can close out at $1.30+ I'll jump on board.

 

[dj_420]

i seem to be the only person on this one, BUT anywho

JML in great position start producing in less than a month (scheduled) and looking to fast track benambra development with cash flow from jaguar deposit.


anyways on the medium term chart JML looks really good it has tracked well within this trading channel for the last 8 months. At the moment it has consolidated around 1.20 mark at the bottom of the channel.

now after small consolidation perios MACD is starting to look like bottoming and slow stochastics indicates stock is starting to be bought up again.

on the volume we keep getting increasing volume spikes on higher and higher volumes.

i would put major support levels at 90 cents 1.10 and 1.20. the next level of resistance will be the 1.30 mark and even on market depth we can see quite a few sellers there.

 

[dj_420]

From the short term chart in the last month the sp has been trending inside a trading channel at 1.20 to 1.30, there has been some days where sp has actually broken support and been pushed down by sellers BUT what i see is critical is that it never closed under that 1.20 support, buyers always pushed sp back up before close.

it looks to have formed a double bottom here, and from here i would like to see the sp break 1.30 highs and break out of this short term trading channel.

 

[dj_420]

JML now producing!

Commissioning of the concentrator has commenced! so now we should be able to expect JML to track the price of zinc more closely, as well as next zinc run JML will benefit in higher spot price of zinc.

many people on this one?

 

[Sean K]

JML now producing!

Commissioning of the concentrator has commenced! so now we should be able to expect JML to track the price of zinc more closely, as well as next zinc run JML will benefit in higher spot price of zinc.

many people on this one?

I bought on break through 30 cents and sold at 40 for a great 30% gain! LOL

Recently broke your support line I see, which now might be a little resistance. It's been a great long term buy. Good work. Poor me, another 'out to soon' job.

 

[dj_420]

yeah broke support, i think there was some negative sentiment since production was delayed, and another placement was made

yeah i got on board these guys at 45 cents, held on since, i like the fact that now they are producing and have benambra mine to start up also.

 

[Col Lector]

Gidday DJ & Kennas....I am in this one. However I share your pain Kennas....originally in at 12.5 cents and out at 17.5cents. Trying to be too smart. Had a buy at 15cents that very narrowly missed before the stock steamed north...full steam.
Bought back in this week at $1.16!! Partly due to it being a very low-cost zinc proposition....i am a bull; but also because the Benamambra(sic) project looks very attractive going forward & has not fully been factored in.
In the more near term I reckon JML will benefit from the high profile & controversial nature of CSM/Pallinghurst deal .... Pallinghurst will want to mop up JML; and it is likely others will want to get in on the action to grab a stake ahead of this.

 

[Love Zn]

Commissioning of the concentrator has commenced! so now we should be able to expect JML to track the price of zinc more closely, as well as next zinc run JML will benefit in higher spot price of zinc.

Yeah agree and when they start reporting quarterly production, should see this improve further

many people on this one?

Only got on this one a few weeks ago at $1.12, mainly after reading this thread and the company nearing production (at the time).

 

[steven1234]

I have been in since 85c. It grabbed my attention when there was a big increase in volume in December 06 for no reason.

 

[Riles]

I bought in at 45c just before the May correction last year. Held my nerve through the drop to low 30's and subsequent sideways action.
Now sitting on over 10k profit - half of which is now tax free.
Still holding as I've no need or reason to cash it in yet.

 

[dj_420]

new broker report of great interest

http://www.jabirumetals.com.au/BrokerReports/KeithGoodeJML5June07.pdf

 

[Col Lector]

Plenty of interest here...up 7.5% so far on good volume.
I can see a tussle developing between CSM & Oxiana for this one. The latter has a processing/marketing agreement with JML that has valuable synergies. CSM currently holds approx 27% and would regard this as a valuable cash-flow producer within the NewCSM structure. And are others parties vying &/or buying...plenty of reasons to.

Eagle Research (Report 5/6/07 ...see link on DJ's post) rates JML a BUY with Target > $1.70. NPV is ~A$1.43/share7.5%;
Significantly this valuation does not account for any Benambra upside which it asserts could add A$100m to A$300m to NPV, or ~22c to 67cps.
Neither does it factor in upside risk flowing from a competitive takeover fight.
Additionally...in the event that zinc strengthens Eagle's sensitivity table suggests a US$200/t increase in the Zinc price, adds 11cps.

 

[dj_420]

JML going well, tracking nicely inside a trading channel that was temporarily broken mid-may.

as kennas pointed out my support line at 1.20 was broken, however then found support at next level down at 1.10. we then had sp increases that hit the previous support now resistance level at 1.20.

sp broke through resistance levels of 1.20 and 1.30 on what is now a steady 2 months of increased volume. after sp broke through resistance of 1.30 has tested it twice and held.

sp recently formed an triangle to breakout above 1.50 trading range. i would now like to see sp close above 1.50 and form some new support. potential downside i see short term support at 1.40 and then 1.30. medium term support would be 1.20 and 1.10.