JABA Update
December 3, 1998
WESTERN INVESTMENT IN MINING CONFERENCE SAN FRANCISCO, CALIFORNIA,
NOVEMBER 29 & 29, 1998
JABA has greatly reduced its participation in investor-relations shows and conventions during 1998 to reduce its 'burn rate' in response to economic conditions, but we have just returned from one of the most important of those shows, the Western Investment in Mining Conference (also known as the 'Gold Show') in San Francisco, and we have good vibrations from it. Participation in crowd attendance and numbers of booths was somewhat lower than in past years, but JABA's booth (happily situated near the only entry to the display area!) was busy and productive through the whole show, and received many votes in the 'Best Booth' contest. Our display was visited by a steady stream of shareholders, analysts, and potential JV partner geologists and managers -- we spent several hours reviewing technical details and exploration-production plans with them for the Sullivan, Hay Mountain, Niko, and Centauro projects, among others. We generated such interest in Hay Mountain that a field visit has been scheduled for later this month, and trips to this and other properties with other companies await the signing of confidentiality agreements.
We are very pleased to report that the general mood of the investment advisers, brokers, mining analysts, exploration companies, and joint venture seekers was better than we have seen it in recent times.
Several economists reported the success of government interest rate cuts and proposed tax cuts toward improving demand-side activity such that increases in the prices of both base and precious metals are a reasonable near-term expectation. No one wanted to cite a time of improvement from this current horrible market, but the indicators that the end is near were widely presented, justified, and discussed.
JABA left the two-day Mining Investment meeting with a very comfortable feeling that JV activity is about to bloom again and that copper and other commodity metals prices may soon start to climb. JABA has reduced its 'burn rate' to approximately 15% of December ‘97 levels. JABA and JABA's project portfolio are well-positioned to prosper in the coming improved market.
--
Mardee S. Briscoe
Vice President/Business Mgr.
JABA (US) Inc.
2766 N. Country Club Rd.
Tucson, AZ 85716
(520)327-7440 voice
(520)327-7450 fax
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