Bluejay Mining Share Discussion Threads

[birotop] 09/8/2018 15:55

That if you give me £75 you can read all about it yourself....

[thebigchap] 09/8/2018 15:51

whats he saying?

[snowyflake] 09/8/2018 15:44

and so he should be!!

[littlealbatross2] 09/8/2018 15:36

New report just out on the MW website.....he is still very positive on JAY.

[shutittrev] 09/8/2018 08:07

To the governor. Trade number 8. Best wishes.

[rampair] 09/8/2018 00:20

I suspect Costax has the munchies? A hitherto unexpected consequential boost to Canada’s legalisation programme?

R. Tongue in cheek, nicely seasoned.

[davroc] 08/8/2018 22:56

Costax. You are on the wrong board.

[thebigchap] 08/8/2018 22:34

yeah me too!

[shavian] 08/8/2018 21:58

So glad I topped up yesterday

[costax1654x] 08/8/2018 20:27

Is a new listed company BigDISH,next JustEat,small mcap,huge customer expansion in Asia coming to UK.Ex JustEat Ceo,Ex play.com Ceo,app is on AIS and google,offering discounts at restaurants up to 70%.Brilliant story.It will be a few baggers soon

[slimchops] 08/8/2018 20:26

New MW post coming in next 24 hours...worth the £75 to get closer info as to what's going on.

[snowyflake] 08/8/2018 17:45

25wbh - thoughtful of you and much appreciated.

[25wbh] 08/8/2018 16:51

Snowyflake, a reassuring RNS by Bluejay, good luck

[snowyflake] 08/8/2018 16:47

Control1 - on the way to a V shaped recovery?

[perfect choice] 08/8/2018 12:17

Detailed analysis is usually available for those subscribed to share price Angel and authorised access holders. The rational will certainly have been published if you can get hold of it.

For those without that access or cannot be bothered to find out at least some of the detail, the following is an extract from the 30th April update. Potential for uplift above 45p is also clear, be it 45p as a current target is a 100%+ gain at today's price:

Valuation: we are raising our target price to 45p from 37p on our expectation for a higher ilmenite product price for the project. The increase in the resource is also good news and we will also be looking to adjust our valuation further on confirmation of production volumes, costs and a number of other key factors in the forthcoming Feasibility Study. Our valuation is based on our calculated NPV value of project cash flows discounted at 10% and with a further discount applied for market risk.

[aravali] 08/8/2018 12:03

I believe John Meyer outlined his rationale for his price tgt on a previous research note. This is a update, share price Angel clients would have the previous valuation note to fall back on.
Some of Meyer's previous work may be on the Bluejay website.

[snowyflake] 08/8/2018 11:44

Yes John Meyer is a very experienced analyst and has himself visited Dundas (thank you for that confirmation) and understands the Moriusaq and Iterlak assets thoroughly.

[lomantang] 08/8/2018 11:14

All price forecasts will have varying degrees of believability.Much depends on assumptions and methodology.The basis of the share price Angel price target is not made clear but comes from a very experienced analyst. The fact that it is from the house broker is irrelevant to its believability.Meyer and share price Angel should do better and by their failure to disclose the underlying detail of the price target are doing a disservice to their client,BlueJay and its investors.

[perfect choice] 08/8/2018 11:07

Yes its definitely too low (account for future resource upgrades as stated in the update)!!

[tyranosaurus] 08/8/2018 10:55

I do not believe any share price forecast made by any house broker.
They are totally biased towards their clients.

[yoursmineshag] 08/8/2018 10:45

Bluejay Mining* (JAY LN)
- Significant increase in grade, resource scale and value expected from work in Greenland this field season
17p, Mkt Cap £145m
STRONG BUY - included in MSCI index
Target Price 45p

• Work is progressing well at the Dundas site in Greenland and in the UK where the final parts of the Feasibility Study and related EIA ‘Environmental Impact Study’ & SIA ‘Social Impact Study’ studies are being woven together.
• The company has expanded its on-site accommodation so it can accommodate up to 50 with a peak of 45 consultants & employees and local workers on-site this season. The company has now moved to mitigate the decrease in consultant productivity to bring expertise in house to offset delays experienced to date.
• Work is likely to continue at site to end-November as the team focus on the production of concentrates for testing with a number of offtakers. We expect updates on this could come at any stage.
• Optimisation of mining and processing has led to simplification of the process along with significant savings in capital and future operating costs. This optimisation process will form the basis of the Exploitation application which is according to the company due to be lodged before year end.
• While the EIA has progressed certain aspects have had to wait for the full mining schedule to be finalised so the impact on the environment can be determined which has led to around 4-5 month delay in the assessment. This negative here is more than offset however by increased project economics due to these optimisation studies.
• The consultant team continue to working on the EIA and SIA which should be released along with the Final Feasibility Study around the end of September early October.
• Pre-mining activity and civil earth works continue at site under existing permits with full Exploitation license to be lodged in Q4 this year.
• Ilmenite market: this is a really interesting time for producers of ilmenite. A significant rise in demand led to the restart a number of previously idled but refurbished ilmenite furnaces, some of which have since suffered catastrophic ‘Force Majeure’ failures. TTI’s kiln problems in Q1 followed a furnace fire in 2016 while Rio’s Richards Bay Minerals and Sorel in Canada both also had problems. This has led to an excess of available concentrates in the market depressing prices in the market but leading to a likely drawdown of stocks at pigment and other downstream processors.
• Disruption in the production of high-grade ilmenite has tightened the market which should raise premiums for better-grade material going forward offsetting the apparent fall in reported spot prices. The restart of Cristal’s (Tronox) new 500ktpa TiO2 Jazan furnaces at the end of the year will require more feedstock within the next 6 months which should further lead to a recovery in prices again.
• Resources: we expect to see a significant increase in the scale of the resource this year. The team are currently drilling and bulk sampling in the Iterlak Delta area with a significant increase in the very high-grade portion of the resource here.
• Interestingly, further bulk sampling on the larger-scale but lesser grade resource at Moriusaq may lead to an upgrade in the grade as well as the overall scale of the resource here due to losses of ilmenite through the use of sonic drilling on the project.
• The current 96mt resource consists of around 16mt at Iterlak and some 80mt resource at 6.9% which covers just 12-13km of the known 30km of strike of heavy mineral sands.
• Drilling: Sonic drilling is being used due to the high density of the unusually high-grade, heavy mineral sand, ilmenite material but this process can also lose finer grade material.
• The team have not yet estimated a tonnage for the high-grade shallow marine environment which may take longer to drill and to permit.
• Cash: we do not expect significant depletion of the £15m cash balance within Bluejay to date. Most expenses for this year’s field season were pre-paid long ahead of the Greenland summer with only small expense incurred since then.
• Funding: The company are unlikely to seek to raise further equity funding till an offtake deal is signed at which point the company will work on the funding structure for the mine and plant construction. This may or may not involve the issue of equity to the market depending on the terms negotiated with the selected offtake partner as offtake finance is seen as replacing equity finance on many projects in the current environment.

Conclusion: Bluejay’s performance to date is impressive given the scale of the operation it is planning in Greenland.
We look forward to further updates on the potential scale of the offtakes being discussed and to further upgrading of the resource grade and tonnage.
We also look forward to seeing the engineering solutions which have simplified the mining and processing process and to the impact of this on capital and operating costs as well as the effect on the project value.

*An share price Angel mining analyst has visited the Dundas (formerly Pituffik) ilmenite sands project in Greenland.

[littlealbatross2] 08/8/2018 10:39

New Bluejay note out from house broker share price Angel, Target Price 45p
Reported on MW website.

[bjlk] 08/8/2018 08:17

I don't think so as jay has more margin than the minimum required by esma...

[mathudson] 07/8/2018 22:16

ESMA related, perhaps

[citytilidie] 07/8/2018 21:31

Sandcrab2 . Just because it appeared after hours doesn't make it a sale. It was obviously a worked trade and we could easily see a stake change in the next 48 hours. Wait and see but please don't guess