Bluejay Mining Share Discussion Threads

[shavian] 01/5/2018 07:25

Great posts chaps. JAY has become my second biggest holding after VRS, largely thanks to falls in the share prices of IQE and others, and I have been adding more to keep it that way. I do hope TBC that you are right about JAY keeping its independence, but if we do get taken out by a major it will be at a price many multiples of what we have now. It would take a lot to prise my shares our of my sticky hand!

[gersemi] 01/5/2018 07:21

What's Meyer implying with yesterday's Ilmenite report? MW's repeated it on his site as well

Is he suggesting JAY is on the radar of TRONOX, Huntsman or Kronos? Or on the radar of Ilmenite miners?

[monts12] 30/4/2018 21:26

Hi thebigchap
Well (in short) as I see it, what this means for us (JAY) is there is a huge appetite for ilmenite, consequently the price of this commodity is on the up and some of the big players are starting to snap up sources of supply. Considering the sheer quality of our product and the vast resource available on our licence, it’s only a matter of time before bid(s) come in! We are firmly under the microscope no doubt and imho things are really going to hot up if/when the exploitation licence is granted.
Plenty of share price catalyst events to come in the meantime.

What do you think big Chap?

[snowyflake] 30/4/2018 21:15

This is what it means tbc. In December 2016 Iluka completed the acquisition of Sierra Rutile (SRX) a company which by its name denotes it is situated in Sierra Leone, a country which has in the past suffered from civil unrest and in 2015 Ebola. I was a holder. The sale price was £215 million plus debt of over £35 million. The sale price was 36 pence per share. M & G (now Prudential) held 20% of SRX. M&G were unhappy with the sale price as were most pis. Pala had a majority interest and I believe that it was at their behest that SRX wa sold at an undervalue - indeed a couple of years before the price touched 70 pence. Admitted most of SRX's production was rutile with some ilmenite and zircon. However during my time of holding they had to build a new mine in a different location in order to mine a new resource.

Check the list of JAY significant holders and you will find that Prudential (M&G) are one; they know what we have as do the other institutions which hold stock in JAY. Also look at the hotcopper site and check out the market cal of Iluka which bought SRX; together with its other assets it has a MC of over 4 billion Oz dollars.

As with SRX, MDL the company which Eramet is stalking has debt as does the company looking to sell a stake in Tronnox.

All these companies are benefitting from rising prices. So will JAY.

What is missing with JAY? - yes debt although in fairness we do not have our exploitation permit and have not geared up for production yet.

Those are the plusses. What I would like to see is, now the JORC has been released is compliance by the board with the timescales set out in the 2nd February RNS regarding the SIA, EIA DFS and the filing of the application for the exploitation permit.

We know from the lead up to the Greenland elections, and comments made since the election, that Greenlanders appear to want to advance its nascent mining industry.

There will undeniably be a lot of works done in Greenland by the company this summer (we now have 24 hour daylight and Rod M made reference in the recent interview - the link to which is posted above - to steps being taken) and so I hope the outstanding steps can be completed as soon as possible.

I am sure that today's share price Angel news showing further consolidation in the market has not escaped Rod M's attention and he will be aware that the indicated separation of Disko et al from Dundas is also something to be advanced.

I hope big chap that is helpful.

[thebigchap] 30/4/2018 18:39

Ok monts12 you have posted info bit provided no comment as to what you thinks this means for us?

[lasata] 30/4/2018 15:59

John Meyer is the mining analyst who I respect most of all.........

[monts12] 30/4/2018 15:20

Latest John Meyer comment...

Bluejay Mining* (JAY LN) 23.5p, Mkt Cap £200m – Eramet offer for Tizir highlights ongoing consolidation of titanium mineral sands sector

STRONG BUY - included in MSCI index

Target Price 45p

Eramet has announced an unsolicited, off-market takeover bid for Mineral Deposits Limited ‘MDL’ for A$1.46/s at a 33% premium on the one-month VWAP.
The deal values Mineral Deposits Limit at around A$288m (US$218m).
TiZir are carrying around US$554m of debt of which Mineral Deposits Limited. Eramet’s offer, if successful, will fully consolidate this debt within Eramet indicating the deal has an effective cost of around US$495m.
MDL’s GCO mine produced some 724,800t of heavy mineral concentrate last year to feed Tizir’s expanded target of 230,000tpa of titanium slag production.
MDL view the offer as ‘highly opportunistic’. ‘It takes advantage of sharply improving commodity prices and improved operational and financial performance of the TiZir joint venture.
In doing so, the Offer denies MDL shareholders the opportunity to realise what MDL considers to be the true value of their investment.
That ERAMET, a partially French government-owned corporation and trusted joint venture partner in TiZir, did not approach MDL before announcing its Offer and has elected to pursue a hostile transaction supports MDL's view of the opportunistic nature of the Offer.’
MDL are urging their shareholders to take no action in relation to the Eramet offer assuring investors that they have at least a month to consider the offer which is subject to a 50.1% minimum acceptance condition.
Eramet have already secured a 13.3% interest in MDL from some of MDL’s larger shareholders.
In further news Exxaro, which produces coal and mineral sands in South Africa is seeking to sell its stake in Tronox. Exxaro holds some 28.7m shares representing around 24% of Tronox worth around US$505m today at US$17.58c/s. Exxaro is keen to repay debt and focus on its core activities. We suspect it is also keen to capitalise on the rise in Tronox share price since the low of US$3.16c/s in Feb 2016 although recent strength in the South African rand against the US dollar will erode some of the gains.
Tronox which mines titanium mineral sands and processes the concentrates into pigments and other titanium products reported a 125% rise in Q4 EBITDA to US$135m on a 32% rise in sales to US$464m for Q4 with. The rise in EBITDA highlights demand strength in the pigment and titanium products markets led by ongoing global growth and increasing use of titanium products globally.
Tronox is currently busy trying to push through its proposed acquisition of Cristal TiO2 despite objections by the Federal Trade Commission and European Commission. Tronox announced it had agreed to buy the Cristal TiO2 business on Feb 21 2017 for US$1.673in cash plus 24% of pro-forma Tronox with pre-tax synergies of >100m in year one and >$200m in year three expected.
Conclusion: It is no surprise to see ongoing consolidation in the titanium sector. New anti-pollution regulations in China are shifting supply chains potentially creating a new game of musical chairs in the mineral sands sector. Eramet’s move to consolidate its position may be seen as defensive in a world where Chinese processing companies are likely to be looking to secure new sources of titanium mineral concentrate supply.

We believe Eramet is keen to further expand production of titanium products, perhaps to feed growing production of titanium parts for aerospace as well as to feed rising demand for pigments. Eramet has a substantial machine tool business feeding into Airbus and other European and North American manufacturing businesses.

*SP Angel act as nomad and broker to BlueJay Mining. An share price Angel mining analyst has visited the Dundas (formerly Pituffik) ilmenite sands project in Greenland. The video contained was taken by our analyst in 2017.

[rampair] 28/4/2018 01:27

I know of a few sells and buys for various reasons. Some people bought on Margin
Some hope for an extra surprise.
If those that are longer term are content to let the money invested stay - then the tightly held shares will respond well to
the news flow that will come from a field season that promises to bring us up to the
submission of the Impact assessments- any last measurements needed to get baseline levels can be done by our consultants.

We will be finalizing where the operation will start, at-a guess I’d say that Iterlak
will be thoroughly checked and if more ultra high grade material is confirmed- the sp
will respond well.
Drowned beach measurements will come in, I remember that the Tombolo initial readings
were great (Tombolo is the name given to the natural harbour at Moriusaq)

Also it’s been said that infrastructure works will start, I think the Greenland govt
have been very accommodating to the company in realisation that we are doing everything correctly.

Yes, we hoped things would would be done yesterday, but with this resource being seriously good I think some good news won’t be long.

Good weekend (Morning) all!
R

[bigboyblue] 27/4/2018 19:14

Unfortunately this seems to be beyond my limited technical abilities. Agreed re the placement. Basically the article claims that at the date in Jan, hedge funds owned 8.51% of the shares and that this could lead to short term volatility in share price. It's clearly nothing to worry about as the fundamentals are still the same. I just wondered if it could be an explanation for the last few days trading. Someone with more knowledge? Gersemi maybe?

[snowyflake] 27/4/2018 18:05

bbb - if dated 2nd January then that has to be before the placings announced on 2nd February, Is there any chance of you posting a link that is readily accessible please?

[bigboyblue] 27/4/2018 16:48

Hedge funds? The attached analysis is a bit out of date (2nd Jan), but we know who owns about 74% of the shares; that leaves just over 25% owned by smaller investors and a fair whack of that appears to be hedge funds.hxxps://simplywall.st/stocks/gb/materials/aim-jay/bluejay-mining-shares/news/what-does-bluejay-mining-plcs-lonjay-ownership-structure-look-like/

[snowyflake] 27/4/2018 16:37

You need some ilmenite to soothe you - just invented another use for it.

[shutittrev] 27/4/2018 16:21

Not healthy for me pal, I've been on and off the pot all day. Just saying like.

[snowyflake] 27/4/2018 16:19

citytilidie - A OK with me! The Dundas sands have not walked away or evaporated.

[nico115] 27/4/2018 16:15

It's been a case of better to travel than arriveI will be looking at 21p to 22p as a good entry point with a 40p target This retrace is healthy

[citytilidie] 27/4/2018 16:02

It could be CFD/ spread betters that have had to raise money for margin calls. Thankfully that's not my scene, but it's been a strange week to say the least, and probably one that none of us expected. As I'm in for the long haul it's not a problem, but I hope all the regulars are Ok

[thebigchap] 27/4/2018 15:54

What is going on?

[gersemi] 27/4/2018 14:50

Someone's not happy

[snowyflake] 26/4/2018 21:34

24 hours of daylight at Dundas from now for some months.

[shutittrev] 26/4/2018 16:29

Big bull account on JORC news, profit taking, elections, time slippage impacting on future price points, possible sale of Wembley Stadium.....who knows, but the story hasn't changed, I think it's just become very serious, especially after John Meyer's comments regarding Iterlak. Good luck all longers.

[albanylad1] 26/4/2018 16:07

Not sure why the down turn things look pretty good I have also topped up today.

[shutittrev] 26/4/2018 15:37

I arnt been funny or owt, but I feel it is only right and proper that I declare that I have had a little nibble at these prices. Thanks for listening and much obliged.

[rampair] 25/4/2018 19:58

Thank you very much to our resident Political Editors! (Each MP has a bit less than 2000 people to represent)

I don’t think it matters to many people, but the Election of the 30 or so MP’s(equivalent) is a bit more “Pro” mining, not that many Greenlandic people would say no to a multi decade Mineral sand operation.- My guess.

So, the sleeping giant of Iterlak (East) where a sample tested at 77%! Has been given its own 20 - 60m target, which has a modest 6/10% Ilmenite content to aim for..
If you watch the helicopter flight over the Itelak Delta, you realise that - There’s a bit more than a few dozen tons!

Mr McIlree:
“These results matched our best internal expectations of size and grade for the indicated resources at Moriusaq, the surprise of 2017 was the realisation that Iterlak, where mineralisation is found in raised beaches and the delta, appears to host similar sized zones with much higher grades (2017 result from Iterlak was 77% ilmenite in situ on the raised beach) which says to me that if things continue as they did during 2017 Dundas could quickly become unique amongst all known deposits.”

If Ilmenite pricing remains at these levels of $220/250 a ton, 10m tons, - without
Iterlak , becomes a very big number very quickly- the thought that Iterlak could provide large quantities at high grade - means ultra low cost & literally the Worlds
largest Ilmenite deposit.

In addition to the rest of this enormous licence:

“SRK considers that there is a high probability that the raised beaches hosting this Mineral Resource extend both along the shoreline within Bluejay's licence area. The licence area includes a 30 km length of raised beaches and deltas and Bluejay has demonstrated mineralisation in several places in addition to the area covered by the Mineral Resource presented here.”

Well, it seems to this shareholder that it would be best to keep these!

R.