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JBM, JUBILEE MINES NL
balance
post Posted: Oct 8 2008, 09:33 AM
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well what difference a crash makes.wonder what todays price would have been.
holders got a very very good deal.



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brett68
post Posted: Aug 9 2008, 07:48 AM
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http://www.mineweb.co.za/mineweb/view/mine...59114&sn=Detail

 
david_j_c
post Posted: Dec 20 2007, 02:50 PM
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In reply to: david_j_c on Wednesday 12/12/07 10:56am

Now 42%

 
david_j_c
post Posted: Dec 12 2007, 10:56 AM
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In reply to: jojosydney on Friday 30/11/07 09:45am

Now 39.13%. Not far from 50%. What is the significance of Xstrata exceeding 50% if there's another bid? Anything? What are views of the wisdom of holding on as a minority shareholder?

 
jojosydney
post Posted: Nov 30 2007, 09:45 AM
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In reply to: Bloodwynch on Thursday 29/11/07 01:45pm

Hi guys,

Todays announcement tells us that Xstrata controls now 18% of the shares in JBM.

They still have a long way to go and they know it.

Imho they are feeling the heat as the shareholders are not handing over their shares but waiting for a higher bid to emerge.

Xstrata has now lowered their take over conditions to convince shareholders to part with their parcels but for now its not working.

I am sure that Xstrata is worried that JBM will go down the same pad as the take-over with WMC a few years ago where Xstrata was eventually outbid by BHP after a long stand-off with the shareholders in WMC.

Can this story repeads itself again????

With JBM currently needing more Nickel ore for their smelters it would be very much possible imho.

So I would say hold tight, you have nothing to lose but much to gain.

jojo biggrin.gif

 
Bloodwynch
post Posted: Nov 29 2007, 01:45 PM
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In reply to: cy7 on Thursday 29/11/07 01:38pm

Ok, thank you.

 

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cy7
post Posted: Nov 29 2007, 01:38 PM
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In reply to: Bloodwynch on Thursday 29/11/07 01:02pm

Hi Bloodwynch,

If you go to the Targets Statement – Page 11 and 12.

Frequently Asked Questions:
1.23, 1.24 and 1.25 (purchase and deferred settlement agreements)

regards, cy7

PS: "JBM at say $28" --- just my example.

 
Bloodwynch
post Posted: Nov 29 2007, 01:02 PM
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In reply to: cy7 on Thursday 29/11/07 11:42am

"But if Xstrata lifts it bid to beat another competitor and wins JBM at say $28 ---
Well the JBM board gets the benefit of the higher price."

Please refer me to the documentation that's states the existence of an escalator clause. I cannot find it.


 
cy7
post Posted: Nov 29 2007, 11:42 AM
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In reply to: david_j_c on Thursday 29/11/07 11:20am

G’day David,

From my reading of the take over documents ---

JBM board has a binding agreement to sell to Xstrata @ $23.

If some one comes over the top and beats Xstrata to the prize --- the $23 agreement stands (for the executives) --- as would the $30 million break clause.

But if Xstrata lifts it bid to beat another competitor and wins JBM at say $28 ---
Well the JBM board gets the benefit of the higher price.

So in that agreement both the JBM board and Xstrata recognize the possibility of a higher bid.

That said and done --- I’m holding out --- but have no idea of the outcome.



 
david_j_c
post Posted: Nov 29 2007, 11:20 AM
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In reply to: Bloodwynch on Thursday 29/11/07 09:52am

If someone saw a higher exporation upside couldn't they pay a higher premium?

 
 


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