Ann: Drilling Extends Bentley Deposit , page-23

Try not to think too short term with JML.

JML is a zinc miner, now if you asked an investor to name 3 zinc miners they would struggle to think of 1. Zinc isnt a commodity for an average retail investor, who tells friends they own a zinc miner?

While I understand the frustration with JML's share price not moving forward, I'm fine with it staying down here and I'm buying as many as I can, because it will be a long way north of this in two years.

We all know that JML is running at a negative cash cost, with no debt, $30m in the coffers and Bentley coming on scheme late next year, but who seriously knows about the zinc story?

Here is a couple of excerpts from an influential broking firm titled: Think Zinc: The new iron ore?

"6MT More Mine Capacity Required by 2016?
By 2016 our analysis suggests the world could need 6Mt more zinc mine capacity versus current capabilities - that's a 60% increase in new mines. With so much capex required (and so little capex apparently being spent), there will be a significant shortage of zinc in the coming years to meet demand"

and this:

"In the doldrums and out of favour for years, we believe the market and investors have forgotten that zinc is a very late-cycle metal, driven largely by galvanised steel consumption, which only occurs at an exponential growth rate at the later stages of a country's development.
What China has already done on the demand side for steel in general and iron ore and copper, is likely to happen to zinc over the next 5 to 10 years, in our view. On the supply side it appears companies appear reticent to invest - and this in our view is a potentially lethal cocktail for a spike in the zinc price in the coming years"

Dont be swayed by the lack of movement from this quality stock, JML will be re-rated and when Bentley is in full flight, it could be anything.

As for supply issues mentioned above, CBH has just been picked up by the Japanese at 110% premium.

Mark this day in your calendar that you could have picked JML up at 36c.

P