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I think you should sell AFLGuy, this stock seems to cause you WAYYYY too much worry and perhaps you would be better putting your money in something that causes you less stress?
JMS - Jupiter Mines
- Thread starter YOUNG_TRADER
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ctp6360 said:
That's funny ctp
- totally agree. My blood pressure rises just reading his posts.
ALFguy
Trading gives me a headache
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Duckman#72 said:That's funny ctp
Sorry guys, I'll keep shut for a while, have a little more patience and wait and see.....
Zen Zen...Ommmmm Ommmmmm
....then buy some more.
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You have to admit, management are not exactly great communicators.
Lets hope they are at Diggers & Dealers this week.
Lets hope they are at Diggers & Dealers this week.
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ALFguy said:
Sorry guys, I'll keep shut for a while, have a little more patience and wait and see.....
Zen Zen...Ommmmm Ommmmmm
....then buy some more.
WOOOOOOSAAAA and everybody, WOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSAAAAAAAAAAAA!
Remember your pressure points Alf
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Everything is going crazy for JMS again today, up 12% at one point and on high volume for JMS's standards, I'm feeling more and more comfortable with this one each day now, simply because its becoming more liquid, its doing things that will spark interest from other people, and still has the same fundamentals that YT told us about so long ago!
Well JMS just hit 18 cents again due to the lastest announcement "Exploration to commence at Mt Hope Iron Ore Prospect".
Bit surprised that it jumped so much, but it will be interesting to sell if we get all those sellers again around the 18 cent mark.
The good thing about JMS, is that it now seems to be back in the spotlight (well out of the shadows anyway) and further positive announcements should see the SP really start to move.
Must admit JMS seems to be building up a nice bit iron ore.
Hey AFLGuy, did you sell before the SP moved up
Bit surprised that it jumped so much, but it will be interesting to sell if we get all those sellers again around the 18 cent mark.
The good thing about JMS, is that it now seems to be back in the spotlight (well out of the shadows anyway) and further positive announcements should see the SP really start to move.
Must admit JMS seems to be building up a nice bit iron ore.
Hey AFLGuy, did you sell before the SP moved up
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Yep, the most important factor is that now JMS is on the map, so good news won't be ignored and gets backed with volume,
Still alot of selling around 16-20c level,
News is flowing more frequently now and more and more people know who JMS is now, this stock was 8c when I first started harping on about its portfolio of projects, I would be very happy if it reaches 40c, giving a 5x bagger for those who bought intially and at least 100% - 300% + for those who bought around 12c-20c
I see 40c as fair value for this stock, but unfortunately its not going to get any spec priced into it, it will only break above 20c when there is signifiacant confirmation of its Iron Ore potential
Still alot of selling around 16-20c level,
News is flowing more frequently now and more and more people know who JMS is now, this stock was 8c when I first started harping on about its portfolio of projects, I would be very happy if it reaches 40c, giving a 5x bagger for those who bought intially and at least 100% - 300% + for those who bought around 12c-20c
I see 40c as fair value for this stock, but unfortunately its not going to get any spec priced into it, it will only break above 20c when there is signifiacant confirmation of its Iron Ore potential
Interesting article coming on the back of JMS's large haematite discovery:
Excerpt:
"He added that Cliffs was not interested in magnetite projects in Australia - its focus in this part of the world was purely on haematite, which takes much less processing."
The whole story from SMH:
Jamie Freed in Kalgoorlie
August 10, 2006
AN EXPERIENCED iron ore pellet producer has warned aspiring West Australian magnetite miners they are unlikely to get their projects into production within the next five years.
"I will be very straightforward and blunt about it," said Joseph Carrabba, the chief operating officer of US pellet producer Cleveland-Cliffs, on the prospects of companies such as Cape Lambert Iron Ore, Gindalbie Metals and Midwest getting into production. "It's going to be a very difficult thing to get these big projects on in a time that's reasonable."
Speaking after a presentation at the Diggers & Dealers mining conference, Mr Carrabba said the high costs of building magnetite processing plants when Rio Tinto and BHP Billiton had plenty of high-grade haematite ore left in the Pilbara now made pellets a less attractive proposition in the Australian market.
Cliffs entered the Australian market last year by buying about 80 per cent of Portman Mining. Portman is Australia's third-biggest haematite producer but its 6 million tonnes or so of annual output pales in comparison to the more than 100 million tonnes Rio and BHP each mine in the Pilbara.
Cliffs had tried to gain control of all shares in Portman last year but was thwarted by some shareholders who held out, believing the offer was too low. Mr Carrabba, who will become the chief executive of Cliffs next month, said his company was not interested in using "creeping" provisions to increase its stake in Portman right now.
There has been a lot of talk about consolidation among aspiring iron ore miners in Western Australia. Mt Gibson Iron made a hostile offer for Aztec Resources last month in a bid to become a company with a similar production profile to Portman.
Many commentators have expected Portman to play some sort of role in the consolidation process because it has operating experience and cash flows from production.
Mr Carrabba said Cliffs was happy to use Portman as a growth vehicle in the Asian market but the company was unlikely to be buying iron ore assets in Australia in the near term because they were relatively overpriced.
"We keep a very active watching brief just as everyone else in the business and we would love to have another asset in Australia," he said.
"They are very expensive assets as it stands now."
He added that Cliffs was not interested in magnetite projects in Australia - its focus in this part of the world was purely on haematite, which takes much less processing.
Additionally, Cliffs is considering an entry into the metallurgical coal business, to complement its iron ore assets. Portman has an experienced marketing team in Perth with good contacts at Chinese and Japanese steel mills that could help build a coking coal business in Australia.
Mr Carrabba said that Cliffs and Portman did not have any particular coal asset in mind at the moment.
Excerpt:
"He added that Cliffs was not interested in magnetite projects in Australia - its focus in this part of the world was purely on haematite, which takes much less processing."
The whole story from SMH:
Jamie Freed in Kalgoorlie
August 10, 2006
AN EXPERIENCED iron ore pellet producer has warned aspiring West Australian magnetite miners they are unlikely to get their projects into production within the next five years.
"I will be very straightforward and blunt about it," said Joseph Carrabba, the chief operating officer of US pellet producer Cleveland-Cliffs, on the prospects of companies such as Cape Lambert Iron Ore, Gindalbie Metals and Midwest getting into production. "It's going to be a very difficult thing to get these big projects on in a time that's reasonable."
Speaking after a presentation at the Diggers & Dealers mining conference, Mr Carrabba said the high costs of building magnetite processing plants when Rio Tinto and BHP Billiton had plenty of high-grade haematite ore left in the Pilbara now made pellets a less attractive proposition in the Australian market.
Cliffs entered the Australian market last year by buying about 80 per cent of Portman Mining. Portman is Australia's third-biggest haematite producer but its 6 million tonnes or so of annual output pales in comparison to the more than 100 million tonnes Rio and BHP each mine in the Pilbara.
Cliffs had tried to gain control of all shares in Portman last year but was thwarted by some shareholders who held out, believing the offer was too low. Mr Carrabba, who will become the chief executive of Cliffs next month, said his company was not interested in using "creeping" provisions to increase its stake in Portman right now.
There has been a lot of talk about consolidation among aspiring iron ore miners in Western Australia. Mt Gibson Iron made a hostile offer for Aztec Resources last month in a bid to become a company with a similar production profile to Portman.
Many commentators have expected Portman to play some sort of role in the consolidation process because it has operating experience and cash flows from production.
Mr Carrabba said Cliffs was happy to use Portman as a growth vehicle in the Asian market but the company was unlikely to be buying iron ore assets in Australia in the near term because they were relatively overpriced.
"We keep a very active watching brief just as everyone else in the business and we would love to have another asset in Australia," he said.
"They are very expensive assets as it stands now."
He added that Cliffs was not interested in magnetite projects in Australia - its focus in this part of the world was purely on haematite, which takes much less processing.
Additionally, Cliffs is considering an entry into the metallurgical coal business, to complement its iron ore assets. Portman has an experienced marketing team in Perth with good contacts at Chinese and Japanese steel mills that could help build a coking coal business in Australia.
Mr Carrabba said that Cliffs and Portman did not have any particular coal asset in mind at the moment.
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And thats what seperates someone like JMS from ARH, GBG and so on,
Its Ore is high grade (60%+) with low impurities, thus suitable for simple crushing and trucking to ALREADY ESTABLISHED RAIL (IE SAVE Millions of dollars) rail which runs straight to the port which has spare capacity,
Thus unlike ARH which yes while it does have a multi billion dollar deposit, because of its grade and depth it will require a multi Billion Dollar Cap Ex, JMS will require maybe $10-$20m at most to get going, must add we need to see a JORC first to determine potential NPV
Its Ore is high grade (60%+) with low impurities, thus suitable for simple crushing and trucking to ALREADY ESTABLISHED RAIL (IE SAVE Millions of dollars) rail which runs straight to the port which has spare capacity,
Thus unlike ARH which yes while it does have a multi billion dollar deposit, because of its grade and depth it will require a multi Billion Dollar Cap Ex, JMS will require maybe $10-$20m at most to get going, must add we need to see a JORC first to determine potential NPV
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YOUNG_TRADER said:
I was dead wrong, I have had it confirmed today that Wilson HTM did hardly any of the selling on the Thursday and Friday, maybe 1M at most,
Apparantly it was an even spread from E-Trade (Day traders) State One Stockbrokering and other etc etc,
So thats a relief as I thought it was Wilson HTM dumping, rather I've been told that its most of the IPO holders (Stale Bulls) who've been waiting to dump the stock and didn't last time it hit 20c level,
So a good breakout above 20c level will see this thing set free, until then I expect range trading from 15c-20c
ALFguy
Trading gives me a headache
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RickG said:Must admit JMS seems to be building up a nice bit iron ore.
Hey AFLGuy, did you sell before the SP moved up
*holds head in shame*
Yeah, sold but still made a profit which is always nice.
I'm still keeping an eye on this one though, as you say, has a 'nice bit of iron ore' and I do think it has great potential once news starts to flow.
May buy again in a dip or if it looks like it's going for a run.
I'm just too impatient and would rather trade something with a little more activity for now.
That said, it's certainly more active than usual!
Good luck to all who hold
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Two directors sold 100,000 shares each yesterday.
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do you believe that this amount of shares sold is significant given the very large holdings both directors have own?dubiousinfo said:
I know we prefer to only ever hear of directors buying but it is not unreasonable that they also sell.....
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dubiousinfo said:
Quite often you will find this is to fund options that are due. It is one way to get a bit of the higher share price into the Co's pocket and the directors holding will actually increase. Don't know if that is the case here. I've actually got out for a while while I play with HTE.
John
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redandgreen said:
The post made no inference that it was significant or unreasonable, merely that the transaction occured.
Given that 300,000 10c options were exercised in July to provide working capital, this sale may welll have been a recoup of those funds, as both amounts were around $30,000.
As to the directors holdings, over 95% are in escrow till December, so selling is not presently an option for them.
Hey guys... noticed the JMS thread had slipped a bit and just wanted to bring it back up a bit, as I really think it has alot potential and would like to hear other peoples comments.
In light of GWR's re-rating, I think JMS has even more potential, and is currently very under valued.
Fully diluted market capitalisation of only $12m. The results from MT Mason and MT Ida are looking very good. They have approx $1.2M cash, and will probably need some more to continue exploration. Volume is slowly but surely building up.
However I feel the market is waiting for word on a new JV ever since Sino Steel JV feel through.
Really just posted this to get some discussion going, as I for one think it is an exciting prospect. One to put on your watchlist at least. For those that also subscribe to hotcopper, check out Marchell0 excellent review.
PS. Yes I hold and keep topping up everytime it falls under 15 cents.
In light of GWR's re-rating, I think JMS has even more potential, and is currently very under valued.
Fully diluted market capitalisation of only $12m. The results from MT Mason and MT Ida are looking very good. They have approx $1.2M cash, and will probably need some more to continue exploration. Volume is slowly but surely building up.
However I feel the market is waiting for word on a new JV ever since Sino Steel JV feel through.
Really just posted this to get some discussion going, as I for one think it is an exciting prospect. One to put on your watchlist at least. For those that also subscribe to hotcopper, check out Marchell0 excellent review.
PS. Yes I hold and keep topping up everytime it falls under 15 cents.
Looks like the interest in JMS has dissipated since the announcement of iron ore discovery at Central Yilgarn. The price has gone back right down to the level before the announcement, if not slightly lower. Not making any sense to me. A little disappointing considering that it shot right up to 21 cents for a very brief time on the day of the announcement. I'm holding until it recovers
CanOz
Home runs feel good, but base hits pay bills!
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RickG said:
Rick, just curious about this.
Your adding to a losing position? I was just thinking about doing the same thing today with another stock, but i that rule echoes in mind every time i think of it...."Never add to a losing position".
How to you justify this in your own mind? Is this normally part of your plan?
CanOz said:
Guess you can call it part of my plan.
My overall trading plan, I guess you could say I have 3 portfolios - long term blue chip stock, a much smaller portfolio of 'speccie' stocks (these two make up my 'long term' component of my investment), and another portfolio consists of my daily 'trading account'.
JMS falls under spec stocks. And as for a losing position I have only been buying only when it drops BELOW 15 cents, and even then only when I have funds available in my 'speecie' account. Of course still use stop losses, but they are not as tight as for my trading account.
With those stocks I purchase using my 'trading' funds I use a tight stop loss and never average down.
So yeah JMS as a stock in my 'speccie' portfolio I use a slightly different strategy, its a semi long-term hold for me, mitigating risk mainly by taking a relatively small position, but still with a stop loss. For example with JMS I have bought into it four times, but only in lots of between $5k-10k each time.
Sorry we have got off the topic of JMS.
