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JBM


theflasherman

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The results look modest to me on my relatively uninformed view. Some good intercepts were made in some areas others looked a little disappoiting. As I'm not an expert in base metals, perhaps we have a nickel mining expert out there that can confirm or deny what i think?

 

Market seems undecided as well, although a big sell order at 4.21 has been pulled and the price appears to be showing some minor strength.

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It ceratinly seems that JBM is having some relief from the sellers that have plagued it over the last few days. It has not gone anywhere despite and increased nickel price and reasonable exploration results.

 

I have modelled JBM over the last few days and I think that the market is pricing in a fair bit of exploration upside at this price. It might deliver and anonmaly 1 looks good for development which could justify the current price.

 

Basically my modelling show JBM is worth around $2.80 to $3.20 from Cosmos taking into account current prices (average US$12k per tonne over the year) and grades remaining similar to current grade. The prices tail off to $7k a tonne in the last 2-3 years of Cosmos in the model.

 

If 1m tonnes of Ore at 5-6% Nickel can be found then the current price is justified I believe.

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  • 2 weeks later...

This ones a stubborn one. Nickel has moved a long way upwards with little movement here. Daytraders are sticking to the penny stocks I think.

 

 

Looks like Anomoly 1 near Cosmos will be developed as a low grade nickel mine. I would have thought that this was excellent news?

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a little surprised to see JBM down today given Friday's rise in PON. I know the A$ has risen by a fair bit but it does not offset the rise in the PON. It started the day pretty well with a single 50k order at $4.60 but has drifted down since.

 

Maybe some players are awaiting for more depth in the metals market in London as price rises appear to have been on thin trading?

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