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Jabiru Metals Limited (JML)

Jabiru Metals Limited (JML)

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General Information
Company Name: Jabiru Metals Limited
Stock Code: JML
Website: www.jabirumetals.com.au
Market Cap ($M): 202
Equiv. Shares (M): 546

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.360 $ 0.360 $ 0.360 $ 0.350 $ 0.360 415,834 0%

Market Statistics
% of Market: 0.0100
% of Sector: 0.0338
Sector: Materials
Industry Group: Materials
Industry: Metals & Mining

Company Overview
Company Overview
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.

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 07A 08F 07A 08F 07A 08F
Newcrest Mining NCM $34.30 $16,600M 32.8983 23.1985 -21.9587 41.8122 0.4373 0.5539
Lihir Gold LGL $2.89 $6,964M 19.7844 21.3270 19.9598 -7.2327 1.2595 1.2353
Andean Resources Limited AND $2.75 $1,295M -172.3814 n/a n/a n/a 0.0000 n/a
Kingsgate Consolidated Limited KCN $9.25 $921M 26.5120 13.7593 285.5666 92.6834 1.6216 2.8649
Jabiru Metals JML $0.36 $202M n/a n/a n/a n/a n/a n/a

Share Price Returns
3 Months (%) 6 Months (%) 12 Months (%)
JML -13.2530 -4.0000 267.3469
Sector 5.8604 10.7900 53.3467
Market 4.4660 5.5940 53.6445

Ratio Comparison
Year JML Sector Market
P/E (x) FY07 (8.9)
FY08 (3.4)
Yield (%) FY07 0.0
FY08 0.0
EV/EBIT (x) FY07 (17.3)
FY08 (4.3)
EV/EBITDA (x) FY07 (19.3)
FY08 (9.7)

Directors
Name Position
G E Comb Managing Director
R Kestel Director
B Bolitho Director
Mr Marriott Director

Management
Name Position
G Comb Managing Director
B Bolitho Non Executive Chairman
G I Smith CFO

Substantial Shareholders
Name % Holding
Palmary Enterprises 27.3500
Consolidated Minerals 25.0400
Nickelore 8.5000

Calendar of Events
Date Event
09-Sep-2009 EGM Date for Special Event
24-Nov-2008 AGM Date for Final Year Result
22-Oct-2008 Reporting Date for Final Year Result
18-Sep-2008 EGM Date for Special Event
14-Nov-2007 AGM Date for Final Year Result


Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).
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