Bluejay Mining Share Discussion Threads

[25wbh] 16/10/2017 20:23

have u noticed that the price is going down, it happens from time to time UKOG going up,
shall we compare again tomorrow !!!!!!!!!!!

[richie666] 16/10/2017 20:04

Lasata if u want a proper unbiased appraisal of JAY see here -
All other parties here are largely deluded blinded bulls.

Ponder this - EV today of JAY is more than GKP. This is without a measured resource in place (it's all inferred), an EIA or SIA approval or, most importantly, an exploitation licence. Madness extremis springs to mind...

[longrod] 16/10/2017 18:56

I think the above encapsulates the situation quite succinctly.

Speculation of course but certainly seems plausible........

[squiresquire] 16/10/2017 18:07

lasata

Thats an interesting question. You see the thing is that JAY has an extraordinary
set of leases. We know the Ilmenite is in quite huge quantities, far far bigger than any other known global deposit, and this is by no means factored into the share price.

We also know the quality is far far better than any other known deposit, and this is by no means factored into the share price. We know our Ilmenite is suited for an extremely large sector of Industry as the quality and 'qualities' (there being a big difference) allow it to be used for a truly excellent range of applications. Again this is not factored intot he share price.

Your question of what the impact will be of a off take agreement will be fueled by the agreement itself. For example the BOD may well be saying that they need to pay a certain amount towards the eventual plant required, or they may be saying they want a three year contract, two one or five depending on how they want the money to come in.

My guess is that Rod Mcelwee knows he is sitting on an absolute killer of an opportunity, and others will know it too. This gives him an edge, the worlds largest consumers of Ilmenite will be very interested in his pile in Greenland.

Basically if you think of hedging in the petro industry then a large user would love to have a multi year agreement for a knock off price. If this helps the BOD in JAY get their equipment, set up systems, build floating docking facilities etc etc tehn they will go for it. Basically the takeoff agreement could be huge as it could be one part of the 'funding' Rod Mcelwee needs. The share price would react very sharply if this was the case.

[snowyflake] 16/10/2017 15:13

lasata - there are various strands in the development of Bluejay gradually coming together: e.g. SIA, EIA and DFS - an offtake agreement or two would fit in nicely with the DFS. As those strands come together the share price should react positively if not before. Then there is the application for the exploitation permit which will be made once the company has the SIA,EIA and DFS all in place.

Then there is the question of what the board will do with the Finnish assets and with regard to those Rod M advised the meeting that there had been drilling in respect of some areas of interest by a drilling company at times when the drilling company was not busy elsewhere and as a result at discounted rates. Might the company sell all or part of those assets or develop all or part? But Rod M considers that there are decent assets tied up within the Finnish assets. Although questioned by a shareholder he would not put a monetary figure on them

Commercial discussions have begun which may lead to offtake agreement(s) but quite rightly Rod M was not prepared to give away any details (commercial sensitivity).

[lasata] 16/10/2017 14:53

Astra/Squire..........good advice......thank you

If there was news of an offtake agreement for Jay.........what boost would that give the share price?

[timmo] 16/10/2017 14:30

I agree with all that Squire says on M Walters site. Including his own contribution there.
Cheers Timmo

[squiresquire] 16/10/2017 14:14

LASATA

I agree with Astra above, i havent actually found any site where the information is better than Mike Walters, but also as completely unbiased because many of the reports we see are actually paid reports by the companies they refer to , so you can take them with a bucket of salt.

Well done you though i really dont think you will regret it, just remember to use the bulletin board information as his board is an excellent place to gather well researched material.Cheers.

[astralvision] 16/10/2017 13:32

Lasata Re Research tree, I've looked and found them of limited use.Basically they provide brokers reports which are sometimes hard for pi's to get hold of. Research Tree provide a number of reports for free, but these seem to be from providers like Edison and others who provide 'paid for research' and it's free to get these reports from the relevant web-sites.I'm not prepared to pay to gain access to the other brokers reports, as I can usually get hold of them by one of the following:Contact the company that the broker has written about, sometimes they will send the report on or pass it to my broker.Sometimes reports are posted here on advfn threadsOn the Mike Waters site he doesn't reproduce the broker reports, but , when writing about a company of interest he will often reproduce the salient points of any recent brokers note.I think the brokers notes for JAY have been reported on this thread.

[lasata] 16/10/2017 12:55

I have sent a cheque to Mr Waters in Kent

Someone mentioned "Research Tree" as worth subscribing too as well.......does anyone know them?

[squiresquire] 16/10/2017 12:18

Legs? Its a Millipede. Just wait for March.

[snowyflake] 16/10/2017 12:16

Just back from the meeting.

Lasata - it does have legs but as ever DYOR.

I will leave it to others, including Mike Walters, to give a report.

[lasata] 16/10/2017 10:42

Suire/Arav/Astra.......thank you. This may have "legs"!

[astralvision] 15/10/2017 18:19

This is not the piece in question, but it does give you some idea of what sort of commentary you get from the MW site re JAY

This is now a free article, so there is no problem with me posting it





Big Beasts at Bluejay - (JAY)
12/6/2017 (119264)

Big Beasts at Bluejay

Not a walrus in sight apparently when Bluejay Mining (JAY) completed the survey to make sure it would not inconvenience the wildlife when picking up ilmenite on the beaches of north western Greenland � but big beasts galore as the company completed a bumper share placing and fund-raising last week.


The formal notifications should start to appear after Thursday�s settlement, but watch out for top class names as 3% plus shareholders as the institutions who scrambled for the stock go through the process. UK unit trust giant M & G is likely to appear with 10% or so of the company, while US Capital Group (assets under management approaching $1.5trn) will be there, along with Legal & General, Hadron, Man Group and others.


Bluejay could have shifted over �50m of shares as long-standing Aussie shareholder Western Areas placed out all 138m of its holding, while Bluejay raised �3.5m gross of new money and people in the company tossed in a further 5m shares � all at 12p. (Note � as ever, chief executive Rod McIllree did not part with a single share.)


Make no mistake. There was no lack of demand, and it seems that, looking over a shoulder at a possible major interested player, the company moved smartly to disperse the Western stake among key investors who would take a long-term view. Western had been looking to realise cash for a while, worrying about a loss-making mine in Australia, and will be able to report for the year to June 30 with a decent profit, instead of a large loss, thanks to the money it has made by taking profits on the Bluejay stake.


It all works rather well. Bluejay has expanded a quality base of shareholders who understand the business and raised what, by Bluejay standards, is a substantial extra slug of working capital at very modest overall dilution. The new money will speed the pace of exploiting the remarkable, record grade deposit of ilmenite in Greenland, with cash to add personnel and equipment, and negotiate from a position of relative financial strength as Bluejay delivers a bulk sample and ties up deals with potential partners to shift product.


While the share price settles after running from around 13p to touch 16.5p as the placing negotiations were finalised, the market should recognise the quality of the new shareholder support. There could be buying from some of the new investors, impressed at what they have seen.


The whole Pituffik development process will be moving ahead in the next few months as the weather window opens up and full-time working on site can get under way. The company has a clear path set out, and while the full extent of the potential Pituffik bonanza is not yet fully appreciated in the market, Bluejay will rapidly be adding value.


This is not empty dreaming. There appear to be no great environmental barriers, and the Greenland government must be happy to have such a substantial and relatively benign project under way. Remember, this is low tech stuff, no need to build a mine or to use large quantities of unwelcome chemicals � just a plan to drill to establish the depth and location of the resource, and machines to dig it up, filter it, and load it onto ships.


While the conventional JORC resource statement covers only a small area of the licence so far, there is clearly a massive resource. That is confirmed beyond question by the recent study undertaken by the Geological Survey of Denmark and Greenland which estimates that 10 billion tonnes of ilmenite (note � actual ilmenite, not material containing ilmenite) exist in the original rock with up to 7bn tonnes of eroded ilmenite in the region. It is estimated that perhaps 1bn tonnes of this ilmenite is within the Bluejay licence.


Bluejay is pushing ahead with an eye on initial commercial production in 2018. House broker S P Angel, citing a share price target of 22p a few weeks ago, was talking about the ability to mine 100,000 tonnes of ilmenite in a matter of weeks when it gets going. On a conservative basis, the potential profit margin is maybe $60 a tonne. It could be significantly higher, but even the low figure would mean profits of $6m. It is probable that production could be raised, with the resulting cash flow perhaps spurring a change in financing which could raise margins. There are also signs that the ilmenite price could be rising.


The new institutional investors could well have done sums which suggest production of 250,000 tonnes and then 500,000 tonnes two or three years further down the line. Such figures might mean profits of $15m and then $30m a year, with the capacity for yet more expansion over the horizon.


These, of course, are highly speculative projections. They assume that the Greenland government and environmentalists will continue to smile on Pituffik, and that the ilmenite price remains at least steady. The chances of one of the majors taking Bluejay out before we get to really big figures are strong. Go back to my report �Jay Talking� of April 14, where chief executive Rod McIllree is speculating that Pituffik has maybe 500,000 to 700,000m tonnes of ilmenite. That, he speculates, could be worth $1 to $3 a tonne in the ground � equivalent then to maybe 55p a share or 75p a share. It is pretty certain that there is 1bn tonnes on the Bluejay licence after the GEUS survey.


Maybe the shares will not get that far, though it looks pretty clear that Bluejay could create the capacity to produce, say, 1m tonnes a year almost indefinitely (notional $60m profit).


The shares eased to 14.75p as I write, but are up from the 6p to 7p region since first recommended here. At 15p, the market capitalisation would be �115m. If you are ready to gamble on any share, this really is the one. It could still have a long way to go.


I have a holding in Bluejay.

Ends

[aravali] 15/10/2017 16:50

totally agree squiresquire...fantastic work by MW...today's note alone is worth the subscription money!

[squiresquire] 15/10/2017 16:35

LASAT

I cannot get Mike Walters piece for you, his site is actually an excellent resource site as it has some very shrewd investors who post constantly about the latest likely winners etc. His fee is very cheap indeed at less than £100, i have never found a better site, indeed never found one that comes anywhere near it.

[shutittrev] 15/10/2017 16:19

Mac, are you getting the first round in after the agm tomorrow? Mines a pint of mild pal. Cheers.

[25wbh] 15/10/2017 13:41

Yes u have to be a member to see it

[lasata] 15/10/2017 13:36

Thank you for thoughts on Rod...CV looks ideal

I could not download Mike Walters piece...can someone post it please

[squiresquire] 15/10/2017 10:23

Mike Walters latest piece is an absolutely compulsory read if you are thinking of putting money in here, or if you already have money in here. He has been a supporter of this share from the very start.

[shavian] 15/10/2017 08:05

One of his achievements, as he hinted in the interview, was being instrumental in persuading the Greenlandic government to overturn their ban on uranium exploration, in the face of a strong green lobby from former colonial power Denmark. This has enabled Greenland Minerals (ASX: GGG - I hold) to commence development into mining one of the world's largest REE and uranium projects. With his Aussie mate Greg Kuenzel he was also behind the transition of Noricum Mining into Georgian Mining. He has since left both projects to concentrate on JAY.

[astralvision] 14/10/2017 13:56

Looks a good and experienced cv to me:





Rod McIllree
May 24, 2016|


Mr. McIllree has more than 20 years of experience operating in both the resources and financial sectors. Having worked initially as an exploration geologist for global mining houses he migrated to the financial / advisory side of the industry where he worked extensively as a mining analyst, then later as a corporate adviser to listed exploration and mining companies with projects across a broad spectrum of commodities and countries.
Rod was a key member of the teams responsible for several successful mining companies with assets in frontier jurisdictions, including but not limited to, Medusa Mining, Anvil Mining, and Kingsrose Mining. He was the founder and Managing Director of ASX listed Greenland Minerals and Energy Ltd up until August 2014 and is currently a Non-Executive Director of AIM listed Noricum Gold Limited.




Roderick McIllree, B.Sc. (Geology), Grad Dip. (Mineral Economics) MAusIMM
Managing Director
Mr Roderick McIllree is a corporate Geologist. A graduate of Curtin University School of Mines he has global experience from grassroots discovery through mine finance and production. This broad base of experience both in capital markets and the global minerals space provides the platform necessary to implement operations in remote and difficult locations. He was an active and early member of a number of successful mining ventures including Medusa Mining (Philippines), Anvil Mining (Congo) and Kingsrose Mining Ltd (Sumatra) where he was involved in the process of de-risking mining operations in frontier jurisdictions.
Roderick was the founding Director of Greenland Minerals and Energy Ltd and identified and executed the Greenland opportunity with the acquisition of Kvanefjeld in 2007 being the result.

 

[lasata] 14/10/2017 13:00

Future performance can be assessed in part with reference to what Rod has achieved before.....?

[snowyflake] 13/10/2017 23:24

lasata - I suggest best to look to the future.