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JML, formerly Pilbara Mines, is an exploration company searching primarily for copper, zinc, silver and gold, with tenements located mainly in Australia. Key projects are at Jaguar, Teutonic Bore, and Lennon’s Find, all located in the Pilbara region of Western Australia; and the Benambra project, located in north-eastern Victoria. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted.
Company History
JML, previously known as Pilbara, listed on the ASX in January 2000. In 1997, Jabiru acquired the Teutonic Bore mining leases from Mount Isa Mines. In addition to this, they have acquired tenements around the Teutonic Bore covering an area of 40km by 5km. On the 24th November 2004, Jabiru reached an agreement with Inmet to acquire their 65% interest in the Teutonic Bore Project Area, giving them 100% ownership.
Differentiating Factor
Positive results have been linked to the drilling activity of the Jaguar Deposit, more specifically the Jaguar Project Bankable Feasibility Study. Thus, the company is aiming for start-up of mining in 2005 with first concentrate production in 2006 within the Jaguar Deposit area.
Major Customers & Competitors
The major customers of JML would include wholesalers and retailers of Gold, Silver,Zinc and Copper. The major competitors would be other mining companies.
Financial Summary
Year to Jun
NPAT Rep $M
NPAT1 Adj $M
EPS c
EPS chg %
PER x
PER rel All Ords x
PER rel Sector x
DPS c
Yield %
Franking %
ROE %
2004A
(0.2)
(1.9)
(0.2)
n/a
(157.8)
(4.7)
(3.1)
0.0
0.0
0
-18.3
2005A
(7.4)
(7.4)
(5.4)
n/a
(6.7)
(0.3)
(0.2)
0.0
0.0
0
-56.7
2006A
(5.4)
(5.4)
(2.2)
n/a
(16.7)
(0.7)
(0.7)
0.0
0.0
0
-19.8
2007A
(14.5)
(14.5)
(4.0)
n/a
(8.9)
n/a
n/a
0.0
0.0
0
-19.4
2008A
(45.5)
(45.5)
(10.5)
n/a
(3.4)
n/a
n/a
0.0
0.0
0
-42.8
2009A
(62.4)
(62.4)
(12.4)
n/a
(2.9)
n/a
n/a
0.0
0.0
0
-79.6
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
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