JSX-Portfolio Update-as of Friday 2nd March

ANTM CLOSE NEAR ALL TIME HIGH.... HUGE SUPPORT AT 9500 and 9550
INCO BREAK ALL TIME HIGH, NICKEL PRICE ALL TIME HIGH!!!!!



Nickel Portfolio, ANTM (ANTAM, aneka tambang) & INCO
ANTM-Aneka Tambang Indonesia.
Bought 3 lots @RP. 7700/share. 1 Lot =500 shares.
-Current price 9450/share-
GAIN -1750/share- 23% as of Friday 2nd March
Antam is mining Ferronickel and Gold.
Conservative target price of 13000 by end 07, expect 15000+++ by end of year.
Profit as of Q3 2006 is 880billion rupiah, and Full year unauditted profit of 1.56Trilion rupiah.
TO BE NOTED. that the last quarter (Q4 07), on the back of strong nickel price the profit is nearly 700billion rupiah. compare to only 880 billion for the whole 3 other quarter.
Taking that the price of nickel and GOLD has just gone up since end of 2006,.. while nickel spot price was flying high and its 3 months future has hit USD 40k/metric tonnes.
Assuming that Nickel price until mid year will stay as high as Q4 2007 ONLY... ANTM half year profit can get to 700billion*2 =1.4 billion( 3months Future is 40k/metric tonnes). Talking about conservative estimation that there is no production increase until end of year.... then by end 2007 can get to AT LEAST 2.8TRILLION rupiah OR
80% HIGHER...
NB: Ferronickel production will up by at least 20% as FENI III will start its full production and deliver in 2007.
-ANTAM power generation is from OIL generator,which mean that the production cost will relate very closely to the price of oil.
However, Doubling profit on 2007 full year is NOT IMPOSSIBLE!!!!!
May stock split if price get to 10.000/share



INCO-International Nickel Indonesia. BOUGHT 1 lot @34000/share.
-currently price 39100/share-
GAIN of 15% up to date
Target price 60.000/share conservative. expect 80k-100k-may do stock split.
expect follow antm result if not better as its pure NICKEL player in the market.
Share price touched 44000/share and for no strong reason fall back to 39000 now.
Power generation is from water dam.. Expect production to pick up.
Wary over El-nino dry season May 07.