Bluejay Mining Share Discussion Threads

[gersemi] 12/3/2018 18:41

China in Greenland: Mines, Science, and Nods to Independence
By: Miguel Martin

March 12, 2018 06:00 AM Age: 9 hours

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this is a single paragraph from an article I found just now--



'Greenland has abundant mineral reserves, but low commodity prices and high development costs have hindered development. Only one mine is currently active, and another one is expected to come online in summer of 2018. Four sites in Greenland have attracted serious interest from Chinese companies; two have a realistic chance of coming online in the short term. Once in operation, they would make Chinese SOEs the top foreign investors in Greenland’s natural resources.'

cont..

[gersemi] 12/3/2018 12:34

4 v 2 (20k v 42k)

372k v 285k

skewed to the buy side so a good order book though the caveat is that, as always, it can change in the blink of an eye

'She' (shares are like ships and afforded the female gender) will not sell-off though. I had hoped for a little shake to reduce my average but it just ain't happening

[thebigchap] 12/3/2018 07:02

Fantastic Insight into things Rampair!

And not simply making things up out of thin air feeding the fantasy and telling us all what we want to hear but rather applying logic and picking up on the hidden clues from the presentation video and piecing them together with previous RNS news and the already well established personality of Rod/the company. I agree it would be nice for Rod to tell us exactly why things are being pushed back a bit but if what you are proposing is true then it also makes complete sense why he simply can't. someone posted a good bit earlier this is a marathon and not a sprint..this is how things must and will be done and the exact reason why the Greenland Government trust us to do the job Right!

[snowyflake] 11/3/2018 18:05

Plasybryn in SW; I do not recall you posting at any time during 2018 until today.

Do you in fact have a holding in Bluejay, a company upon which you are ready to comment?

[astralvision] 11/3/2018 15:30

maccamcd You were indeed correct and Rampair has given the licence delays a whole new twist, thanks again Rampair.If anything along those lines does develop it certainly would be very bullish. I await developments and news with keen interest to see what unfolds.

[citytilidie] 11/3/2018 13:28

Correct Macca..Do things slowly, properly and carefully and all the necessary approvals should be a formality, even if they take a couple of months longer than planned. Tick the wrong people off and that's when the wheels start falling off the wagon. From what I have seen/heard Rod and his team are doing everything in the correct manner and in the right order.

[astralvision] 11/3/2018 10:09

Thanks for your post Rampair, that is certainly food for thought, cheers.

[rampair] 11/3/2018 00:16

Two things, Fear is one of those things that comes and goes, it’s natural, particularly if you hold a larger position than normal. This is not a normal opportunity- it is, a simple jigsaw as Mr Macca said.

The second point was that, if a small junior like us were to build the handling port
and infrastructure ourselves we would, in the normal run, borrow/Sell a big piece of the project.
Luckily for us, on the YouTube video, the key word used was “transparent” Also
a lot was made over the relationship between the company and the Greenland Agencies.

What if a bigger company was planning this project? (I’m not suggesting this is the case!) this is an excercise.

If someone like a Glencore wanted to add to their Ilmenite stream they would plan to build a sizeable pier, suitable perhaps for the Panamax that was mentioned? This would need Greenland to perhaps need more time to contemplate a fairly large sized operation straight away.

If we imagine that the company has the interest from offtake, to allow a much more ambitious project to be put in place - one that brought us straight in to the major top few suppliers.

Also mentioned...

Now, a Panamax is a big blighter! Quite a long ship, if you are contemplating a movement involving those ships - we would be straight into the big league, a lot more buildings at the village that exists - now the Greenland planning dept is possibly using Denmark to help out because this project at the 1m ton plus level is going to be something that needs serious planning resources- I would suggest that we should, in fact, be quite pleased we are looking like serious players right off.

I can wait for 2019 for that. The future could be closer than we thought perhaps?

All the above is just guesswork, taken from words spoken that may not have referred to
a big plan, but it makes me wonder.

Anyone wondering what a Panamax looks like, look here:

[bigboyblue] 10/3/2018 14:14

My guess is that original estimates didn't fully take account of the time that the various consultants would take to complete their work and that it's difficult to make them work faster. The latest slippage has been from H2 2018 to Q1 2019. Not much would be happening during that winter period anyway, but I agree it would be nice to have it spelt out clearly.

[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.