Look at this just released RECAP of the events of Jaba 1998...here's to Jaba 1999:( Dam That Is GOOD...the Good Earth...the Good Claims..The Good Geologists! At Jaba! Great....in a sea of mediocraity! So, they just (seperatly) verrified Noahs Arc and the time of the Ten Month Flooding on the national News Today....by geology...our time will come...and we will not have to date it 5,000 years BC!!! ! Laramide...66 Million Years ago....will give us 1999! I talked with Jim Briscoe yesterday and asked him where John G is...answer on a Trade Association ( I believe he named the Society ) and they are in South America...not Jaba Related atall...he said...I say to myself...when I travel and I look around ...it is for personal sighting..yes...but low and behold...times passes and...things, change! May they change here...I like the vasteness of the Earths Geology...I will not talk of travelling the Africa here but today at Lunch I told of my only 15 minute tour of Paris and all of France ...going from one airport to another...<never to see and step foot in France again> I still caught Notra Dame...and still remember the Flying Buttrussesses(spelling is bad-hey!).
JABA Update 99-1
January 22, 1999
COMMENTS INTO THE NEW OPERATING YEAR from John M. Guilbert, Chairman of
the Board
1998 was one of toughest ever for mineral exploration and development
companies, but JABA Inc. has many positives carrying it forward. Metals
prices are at historic lows, risk capital remains hard to attract
because of the Bre-X scandal, and global marketplace uncertainties
persist, but JABA is in excellent position to surge upward when these
temporary situations improve. JABA was first listed on the Alberta
Exchange in January, 1996, the first year being an organizational-legal
one. As we enter our third year of real activity, we wish to tell you
of our present condition. A few clear pluses are:
A strong portfolio of properties, with reduced but still controlling
claims, leases, and options, and with minimal property payments;
Projects in copper, gold, zinc, lead, molybdenum, and silver, a broad
spectrum designed to enable quick response to improved commodity prices
when they occur;
Announcements of two geologic successes in exploration,
A thick porphyry-copper-related leached capping at East Silver Bell,
Arizona (in three holes in joint venture with Valerie Gold Resources),
with an enriched copper blanket expected below it, and
A copper-molybdenum-zinc-anomalous skarn at our Yardley area on
strike within the SE Arizona Porphyry Copper trend (in one hole drilled
by JABA);
Substantial progress by Drs. Silberman and Armstrong on locating
gold-silver concentrations in a major N-S silicified fault-zone conduit
at Apache;
100% ownership of all of our Arizona, Sonora, and Chihuahua properties;
Deposit types including porphyry copper, epithermal gold-silver,
copper-zinc skarn, carbonate-hosted silver-copper-zinc, Nevada-style
disseminated gold, and oxide- copper In-Situ Leach SX-EW;
Excellent technical leadership provided by Jim Briscoe and John
Guilbert, perhaps the best linkages of talent in the junior mining
company sector;
A lean and efficient organization, greatly reduced in ‘burn rate',
staff, and equipment from a year ago, but still fully capable of
deployment and quick start-up;
Property positions in 15 quality settings, with the ability to move
swiftly into other ‘concept locales' (new and novel ‘exploration idea'
sites) when commodity prices break upwards;
JV negotiations/considerations under way on Niko, Hay Mountain, Seri,
Opata, Apache, and the Sullivan Project;
A top-rank exploration shop assembled, computer-outfitted, and equipped
for both traditional and cutting edge exploration, with remote sensing,
GPS-GIS, and networked activities; and
A smooth, seamless IR-PR function flowing from the Tucson, Hermosillo,
and Vancouver JABA offices.
JABA's second meaningful year was as extraordinary as its first, all
things considered. The price of JABA stock has shown several surges and
declines, although it is near its low at this writing. But relative to
other companies with ‘buy' recommendations by major investment houses
during the last 13 months, JABA's stock performance is right in the
middle of the pack in terms of percentage loss, having performed better
than many higher-profile corporations. We have greatly reduced staff,
but we continue to carry out low-cost activities, mainly in computer
processing of existing data and images, in generating new exploration
targets, and in advancing concepts and data bases on our ongoing
projects. Several months of time have been invested in the Sullivan
In-Situ-Leach SX-EW project (see ‘Clarifications' on our JABA.com web
site), and negotiations are continuing to reach agreement on permanent
access to, and joint venturing of, the property.
Operating funds during the last year have come from a private placement
through Canaccord Capital Corp. early in 1998 and from a royalty
settlement due JABA from Glamis Gold. John Guilbert has been honored
with receipt of career awards from the Society of Economic Geologists,
the Denver Regional Exploration Geologists Society, and the Arizona
Geological Society, including SEG's prestigious Penrose Gold Medal. He
also recently had an on-site review of the geology of the Bajo de la
Alumbrera copper-gold mine in Argentina, finding that his
geologic-zoning predictions of up to 25 years ago have been upheld
completely in the illumination of mine development and open-pit
exposure. This bodes well for the outcome of targets generated at JABA.
So JABA goes into its third year of real operation ‘hunkered down' with
the rest of the industry but confident that it can survive, that it has
produced at least two exploration successes that demand further
evaluation, that it can bring a major ISL-SX-EW oxide copper deposit to
profitable fruition, that it has advanced Apache and other projects to
portentous drill-readiness, and that its several other projects are as
exciting and potentially revenue-generating as ever. We still squirm
with anticipation when we discuss Apache, Niko, and the Sullivan
Project, and Yardley, Silver Bell, and Hay Mountain. We still have our
loyal shareholders in mind every day, and have every reason to expect
that their patience will be amply rewarded in Year Three.
"John M. Guilbert, Chairman of the Board"
--
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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