Alba Mineral Resources Share Discussion Threads

[philjeans] 06/4/2018 08:49

From the Align tip;

Something clearly does not add up. If we strip out of JAY the circa 15m GBP of cash we estimate is left on balance sheet (@ 1.7p) and apply an arbitrary 1p for the balance of their Finnish portfolio this still implies the market is valuing JAY’s Dundas field at in excess of 20p per share or approx £170m. By way of illustration of this phenomenal market disjoint, if we applied the same valuation to ALBA’s licence area (which at present has, we would argue, less than £1m of implied value in their market cap) the stock would be trading at 6.5p. That’s right 6.5p – over FIFTEEN times the current market cap.
NOTE – we have not included in this piece any value attribution to ALBA’s other assets at Horse Hill, Brockham, Amitsoq & Inglefield (also in Greenland) or the Clogau gold project in North Wales & Irish lead & zinc interests. Third party analyst estimates of value here run up to 10p per share too.
To conclude, IF the valuation of JAY has any basis of reality then ALBA is stupidly undervalued on their Thule licence front alone. If (as we believe) JAY’s valuation has no basis in reality and is an illustration of what can be done with a limited free float and hard promotion, a short position here v a long play in ALBA we believe will pay dividends many times over as we progress through 2018 into 2019.

[blueblood] 06/4/2018 08:33

Hitman been tangoed?

[25wbh] 04/4/2018 14:14

Many thanks for your offer Rampair,its nice to have honest opinions ,B

[rampair] 04/4/2018 13:35

25wbh, if you ever need info, we will treat it as genuine - we’ve been a long time in FinnAust then Bluejay.
Mr McIllree the MD is a rare find in the AIM market - honest

R.

[25wbh] 04/4/2018 09:46

Again SF thanks for additional info

[snowyflake] 04/4/2018 09:08

Also Western Areas were an existing shareholder in FinnAust as it was then named (now Bluejay) when Rod McIllree became ceo of FAM now JAY. Remember that the deal that got things going placed each FAM share at 2 pence.

Western Areas are really a nickel play, and had wanted to divest its interest in FAM because, as BBB puts it, they needed cash but they also wanted to advance their other projects.

So as BBB points out there was a placing and at the same time Prudential (formerly M & G) took up Western Areas' interest at 12 pence. M & G is worth a mention since they had a 20% interest in Sierra Rutile (SRX) ( a miner of rutile,zircon and ilmenite). Pala Resources also had a large shareholding in SRX and so I believe were keen to realise a substantial profit on their SRX stake. So the story goes M & G were most unhappy at the price that SRX were sold to Iluka for - the price was £250 million including debt.

M & G are as BBB says a shareholder in JAY as are other Tier 1 investors. Iluka which admittedly has other interests is capitalised at over 4 billion AUS dollars or about £2.5 billion; yet another reason why I am a content JAY investor.

[25wbh] 04/4/2018 08:22

Interesting info bigboyblue thanks

[bigboyblue] 04/4/2018 08:07

Rayrac. I believe you are referring to Western Areas, an Australian company. It's true that they owned a big chunk of Jay, over 100m shares, which they sold at 12p in June last year. At the same time Jay also raised £3.5m through a placing of 29m new shares also at 12p. The share price barely dipped and most of the Western Area shares were taken by Prudential who still hold them and indeed have added on several occasions since. As I understand it Western Areas sold because they needed some cash on their balance sheet and the deal was considered beneficial to all parties.

[25wbh] 03/4/2018 21:27

Maybe the Chinese Rayrac think there is links now between China / Greenland

Blujay will have to make the first move as Alba I believe has been given a year off by the Greenland government so that it does not need to spend and money

Alba will be closely following Blujays every move as its so important to keep on the right side of the Greenland gov.Blujay seems to have very good relations atm

Alba need to get the jorc results in the public marketplace asap

[rayrac] 03/4/2018 21:10

So Blue Jay will spend £60m and £100m by 2020. Where does that kind money materialise from?

I’m not happy with the situation at all, the mind boggles. And its no way Alba will find that kind of money either, so it seems it is looking likely a large mining company will be needed as a partner...for both.

Is it also true that an Australian setup has made their money at BJ and walked away?!

[dreamtwister] 03/4/2018 18:31

good evening 25wbh,

as you may be well aware, the black mineral sands are used in the process of titanium

the technology of graphene enhanced solar has adopted this metal.

for its durability replacing lead and its beneficiary of 2d materials absorbing more energy.

this may draw further interests to alba/jay assets.

[bobmonkeyhouse] 03/4/2018 16:27

every post 25wbh does , makes him look stupid

[thehitman1] 03/4/2018 16:22

Very sad indeed.

[thehitman1] 03/4/2018 16:22

Wouldn't surprise me if it's 25wbh.

[thehitman1] 03/4/2018 16:21

Mostly likely another alias of one of the sad holders here.

[25wbh] 03/4/2018 15:57

unnighted, I don't support stephens enthusiasm ,makes him look stupid

[uknighted] 03/4/2018 15:45

Stephen2010 was ramping alba all over the bulletin board last night. P&D springs to mind.

[25wbh] 03/4/2018 15:34

It will be interesting to see Alba,s jorc results and compare to Blujay .
Bluejay recon that theirs will be the highest know and are now planning to spend a further £60million and a further £100 by 2020.See Blujay web page with the announcement from a poster this afterneen
Makes good reading
Alba need to get their jorc results know soon as we need a partner with load of money
if Jay aren't interested in a joint venture, I am sure there will be plenty of other!!

[stephen2010] 03/4/2018 15:09

It's ludicrous. But only good news for ALBA and bad news for JAY once the market picks up on this huge disparity in market cap.

[theclangers] 03/4/2018 13:24

It might be worse than that, quite few options to be thrown in the mix. Same old, investors take on the risk, management get the rewards.

[rayrac] 03/4/2018 13:12

Jay market cap, £206m! Net assets less than 3p share. Income zero. Where heck does that market cap come from?!

[stephen2010] 03/4/2018 12:45

Blujay market cap 207mil
Alba market cap 8.7mil

I would be very nervous holding any bluejay at such a ridiculously high valuation henry my boy :)