Bluejay Mining Share Discussion Threads

[astralvision] 10/3/2018 14:12

psBigboyblue The cash raised gives them much more muscle when talking to the offtake boys, so , imo, it was and is highly desirable to have a good wad of cash sitting in the bank for these sort of negotiations. Yes, the cash will be needed to put the infrastructure in ( and more), but it's not the sole reason for needing that cash.Always good to negotiate from a position of strength and I'm certain JAY recognised that in the timing of the raise.

[astralvision] 10/3/2018 14:04

bigboyblue Appreciate the answer, yes, they have the money or a decent wedge of it and there could well be further financing from off take agreements. I agree as well they clearly have a close relationship with the authorities in Greenland.But the heart of my question is really two fold:1) as recently as a few months ago the licence was expected H1 2018, it has now been pushed back to Q1 2019, with no real explanation as to why. Perhaps further info is required or JAY underestimated the time required, I don't know.2) It doesn't matter how much money JAY has, if the licence is not granted till Q1 2019 then the 2019 season will, imo, be taken up with putting in the necessary infrastructure. This the first full mining season will be 2020.I realise this is a long term project and the mine could have a life measured in hundreds of years. Nevertheless I am concerned that in 4 months the estimated licence date has seemingly slipped by 9 months or so. It would be good to hear some sort of explanation from the company and how the licence slippage impinges on their plans. For the removal of doubt, I'm long, have held for some time and very pleased with the progress. But it just seems to me one minute we were expecting commercial mining this year, now it might be year after next till we start in earnest.There is a risk here, albeit I perceive the regulatory risk is modest and well managed, but I've yet to hear a satisfactory explanation for the slippage and the effect that will have.

[plasybryn] 10/3/2018 13:55

Thanks for the rose tinted responses! I just hope the Permits are as straightforward as they expect. Population or no population, Greenland is a highly sensitive "eco" environment with lots of tree huggers and lobster strokers, who don't take kindly to this sort of environmental interference.
But I'm sure your right, Rod knows what he is doing and will deliver this incredible money making opportunity.
I'm in the S.W.

[bigboyblue] 10/3/2018 13:39

plasybryn. I too am sometimes nervous as a small investor with a very large percentage of my portfolio in one mining company that doesn't produce anything yet. But the way I look at it is this: if I sell I would need to invest my money somewhere else. Where? I can't think of anywhere better just now.

[bigboyblue] 10/3/2018 13:25

astral - I think they will start preparing using the £20m. The clue really is in the last minute or two of the presentation where Rod says how closely they are working with the regulators. You wouldn't want to raise £17m at this stage unless you were pretty sure you could use it, you would wait pending the green light. Re the amount needed in total, I don't know. £50m was touted at one stage as a guess, but Prudential, Sand Grove and Capital are clearly in this for the long haul if needed. Rod has indicated in previous interviews that the preference is to raise funding through offtake partners. Plasybryn - maybe the likelihood of permits, EIA, SIA, is partly built into the current price but I expect there will still be an increase at each stage. BTW, where are you? I always assume most on here are home counties based, but your name suggests not. I'm in N Wales.

[plasybryn] 10/3/2018 11:18

I agree it is a great presentation. I've just been nervous todate as there is still so much needed to de-risk the project (see below), yet the valuation - £214m - seems "full" to say the least! All priced in? It seems unusual to have such a valuation when there aren't Permits, Licence to operate or Finance.
Still needed:
1. Environmental & Social Permits
2. Pre Feasibility Study
3. Customer Off-Take Agreements - these have to be tied up as no London market in Ilmenite
4. Finance to build Site & Docking facilities? Has to be an element of dilution surely.
5. Mining Licence
But I agree the spin off of Disko sounds a great idea and shareholder should get 1 for 1 I believe. Nice move.

[maccamcd] 10/3/2018 10:45

Only Rampair can answer that.He's a private investor genius

[astralvision] 10/3/2018 10:24

Thanks for the feedback and presentation link, excellent stuff.

just a quick question that I hope the more knowledgeable of you might be able to answer.
If the licence is expected 'no later than first quarter 2019', would that impact the mining season 2019, ie 2020 would be the first real season. I say that as I assume there is a fair amount of infrastructure to go in for the development, as outlined in the various documents, and as that will cost a fair few bob, I assume JAY either couldn't do it or wouldn't want to do it until the licence is approved. That may mean there is not time to get the infrastructure in place for the 2019 season.

[maccamcd] 10/3/2018 09:57

My youngest son Jake who is 7, just asked if he would be receiving dividend cheques from Bluejay EVEN when he's 100.I Said 'possibly'Disko... What a super massive free lottery ticket we have.That video really hits home.Rocket Rod and the team are first class mining entrepreneurs.

[snowyflake] 10/3/2018 09:36

gersemi - you should not have sold the 70k in order to buy a jam jar; you could have waited and bought a more expensive one!!! Only teasing.

[gersemi] 10/3/2018 08:11

Yes, very impressive indeed. I'm holding 100K+ shares here but how I wished I owned more

Many thanks for the YT-link

[sheep_herder] 10/3/2018 01:44

That's a fantastic presentation. A number of points I took from it.

1. He seems genuinely upset that they couldn't shout about the resource upgrade. He was expecting to be able to talk about it so it can't be far off.

2. It sounds like the resource estimate will be massive. He talked about lifetime of the mine being 100 years plus and had a few cheeky smiles at colleges.

3. The Disko spin out also sounds close. He was answering a question on the risk of a hostile takeover and expressed that risk as a key driver to get the spin off done ASAP. Does that sound like they takeout might happen sooner than later?

I'm genuinely impressed by that man. Well done to them.

[citytilidie] 09/3/2018 20:46

Well done shutit. Absolutely fabulous presentation by Rod, and so so knowledgeable. Looking to split the shares "soon" in his words, and apply for the exploitation licence in the second half of the year. All being well he thinks that this should be approved no later than first quarter 2019. In my opinion, this share is going to continue to go up and up for the foreseeable future and we just need to be patient. What a great share to have and to own.GLA

[shutittrev] 09/3/2018 19:49

Unsure as to whether there is a copyright issue here, but the link takes you to the presentation Rod gave the other night.

[gersemi] 09/3/2018 13:14

Yes, thanks aravali

Of course, it's the off-take agreements we're all eagerly awaiting news for. I would bet the necessary licences are a fait accompli following JAY's prospector of the year award this week so no concerns there

All very exciting

[thebigchap] 09/3/2018 13:13

Cheers Aravali,

Well done for getting down there and thanks for feeding back! I'm pretty sure the Brass were just as disappointed as you my friend.

[snowyflake] 09/3/2018 12:58

Thank you aravali. Sorry to learn about the lack of brass - but probably for the better!!!

[aravali] 09/3/2018 12:26

hey guys, i went to the presentation...apols for delay in response...was a heavy night!! no brass unfortunately :-)

the main points are as follows:-
EIS & SIA expected to be completed by April
Demand for Ilmenite is very strong due to structural supply side constraints...expect further price rises
plenty of cash in the bank (£20m), will go a long way towards production...knowledgeable and supportive shareholder list, aim for minimal dilution
60% (young working age)unemployment in local region
newsflow expected in line with previous RNS statements

[littlealbatross2] 09/3/2018 11:22

bigchap

MW update gave a timetable of about 10 expected events/newsflow.
I think it well worth the £75 a year subscription to join his site.

[thebigchap] 09/3/2018 10:35

Ah No worries dude! sure it will all out in good time.

[gersemi] 09/3/2018 10:13

I wish I could bigchap - I don't have access to the article

SP-Angel may update from the presentation but then they may not

sorry

[moreminer] 09/3/2018 10:11

Anyone been at presentation and has sobered up and able to share with us?
Grazie. Mm

[thebigchap] 09/3/2018 09:43

can you elaborate Gersemi?