April 16, 1999 Shareholder Update- Subject: Positive News Articles, JABA optimistic about JVs in coming
months
:
As developments occur in the minerals industry that may have a bearing
on JABA Inc., its shareholders or people interested in JABA, we try to
make our friends aware of these developments that they might not
otherwise notice.
In the Wednesday April 14, 1999 issue of the Wall Street Journal, front
page far right column the following headline appears: "Apocalypse ? No,
Round the Globe, Signs Point to Final Days of the Financial Crisis.
Stability, Optimism Return in Most Ailing Nations, Although Risks Remain
And Russia Bleeds Billions" The article, which we recommend you read,
suggests the worst may be over in the financial crisis and cites strong
increases in shipping, tightening in bond spreads and rebounding markets
in Argentina, Brazil, Hong Kong, Japan, Mexico, South Korea and the
USA. While no one can be sure, this may be a harbinger of better time
in the commodities markets including of course metals.
In Today's (April 16, 1999) Wall Street Journal, Section C14
(Commodities) they headline: "Copper Futures Prices Jump on Talk BHP
Will Announce Production Cuts." We also recommend friends of JABA read
this article. Cuts, perhaps in the BHP copper operations near Tucson,
which are high cost and are probably operating in the red, have been
rumored for some time. This article suggests such cuts may be imminent.
If done, a significant amount of world copper production will be taken
off the market. This can only be good for copper prices.
While it is impossible to predict what effect these reported events will
have on the market, and more importantly what the timing will be, we
think these events or potential events are encouraging and JABA's
friends should be aware of them. We are convinced that high metal
prices will return, the only question is when. As JABA has several
copper projects, things that affect price of copper are important to
JABA.
JABA continues to work on our various projects in the Southwest USA and
Northern Mexico. We are optimistic that JABA will obtain a joint
venture on one or more of these projects in coming months.
James A. Briscoe, CEO
--
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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