Bluejay Mining Share Discussion Threads

[rampair] 04/2/2018 20:51

Resource location will become far more important as we move forward in mining, look at
Mongolia, one of the Worlds poorest countries- Oyu Tolgoi run by Rio is one of the Worlds biggest projected mines. Once Governments see this money coming in it’s hard not to respond to local pressure to extract taxes.

Greenland will have all of this in place beforehand and I fully expect a stable environment. The Country wants to build up mining, plus the added advantage of only
a 50,000 population!

We have a really excellent proposition here, I’d rather cope with the Winter weather rather than an unstable third world location.

R.

[aravali] 04/2/2018 19:24

Interesting article in the Sunday Times - Glencore faces Congo windfall tax on vital cobalt mining
Glencore facing a $250m hit to earnings as a result of The Republic of Congo announcing their intentions to increase royalty fees on Cobalt from 2% to 10% and, in addition, setting a 50% windfall tax on excess profits, once a commodity increases in price by 25% over the price set in the feasibility study.
Once again, this reiterates the need for miners to locate assets in countries where such unforseen events is unlikely to occur.
Maybe Glencore should fly to Disko and take a look at our Cobalt assets, and take advantage of the miner friendly environment they would encounter from the Government.

[astralvision] 02/2/2018 15:20

monts12Fair point, hope any t/out reflects the size of the resource.

[monts12] 02/2/2018 15:08

AstralI don't think we will get as far as 2020, the big players have almost certainly already set their sites on acquiring the Dundas asset and I would expect JAY to be taken out well before then, probably when all the permissions are in place.

[astralvision] 02/2/2018 12:09

Thanks for the reply Rampair, all makes perfect sense.To be honest I thought 2018 seemed optimistic and was surprised at that when I first heard it.From memory I think the 'green light' go ahead signal was expected in Q2, if that has now slipped to Q4 then that rules out 2018, irrespective of the other things and facilities required.I wonder how much processing equipment they are prepared to put in in advance of approval, if that is allowed. If not and the processing equipment goes in post approval, then I assume that will happen ASAP for the 2019 season , giving 2020 as the first real full season of extraction.They are building this out in a very pleasing fashion and given the size of the resource plus Disko then a lot more happy days should be ahead.

[rampair] 02/2/2018 11:31

Astralvision you are correct. It’s slipped, but these studies need to be nailed down
Watertight.
Remember last year some tonnage going to offtake partners, I expect that we will be hurried through ASAP and some more Ilmenite will go to various people.
We must, though, make sure that every single thing is in place and that we have personnel ready to start work, also accommodation, recreation & all things to make life as pleasant as possible in a harsh environment. People will need to be trained also.
Mining plans need firming up, so lots of trial runs to see what is most efficient.

A busy old summer ahead. This will allow next season to start off perfectly.

In the meantime, who knows what will happen on the corporate front?....

R

[gersemi] 02/2/2018 10:45

It's the off-takes i'm more interested in - when or if they do sign up customers then surely the various permits would be a fait accompli..all derisked, hopefully

[astralvision] 02/2/2018 09:47

Correct me if I'm wrong here, but with approval anticipated in Q4 2018, production should start in 2019?
I thought I read somewhere there would be limited production this year?

[sheep_herder] 02/2/2018 09:27

So from the details in the RNS, are we expecting full production sometime in 2019?

[presto77] 02/2/2018 08:37

Walking bid offer down on no volume

[presto77] 02/2/2018 08:34

Ha ha look at the stupid MMs trying to squeezeMorons

[rampair] 02/2/2018 08:10

Exactly Squire, if Rod can overturn a Uranium exploration ban he’s a very good negotiator- now he does it from strength. It’s a timely raise and a massive
underpin at 22p.
This is an exceptional company & we are fortunate.

Finland in current pricing environment is also looking attractive too.

As you say the big boys get up early....

R

[squiresquire] 02/2/2018 07:57

Rampair

Exactly that type of study is what i have been talking about, there is a huge amount of work to look at and the overall picture to me shows a Bluejay that has managed to get itself a magnificent area.

I have to say i love the way Mcelwee goes about his business, he is really focused and determined. He will need to be too because when the valuations start to come in and value this ilmenite properly he is going to be dealing with the top global players ......and they get up early in the morning.

[squiresquire] 02/2/2018 07:54

I would think they will have their takeoff partner identified by now, this fund raise is clearly their share of pre-production work and now they are free so sign up.

The fact they are ready to order long lead items speaks volumes, i wouldn't be surprised to hear more of takeoff agreements very soon indeed. this is one project that is really steaming ahead.

[rampair] 02/2/2018 07:50

Squire Squire, I’ve recently finished a
200 page 1958 Thesis on Disko! Finished as in read it!
The Disko occurances of Nickel and associated metals is well documented actually more so than Pituffik was.
It’s been known for some time that there are conditions Geologically for this to be a World class Nickel & PGM Cobalt property.
It’s a very good thing for us to be going there, it could well have the possibility of hosting quite phenomenal amounts of Metals.

[maccamcd] 02/2/2018 07:50

Squiresquire.. You sound more bullish than me these days!You are possibly right though.. Disko getting real.. Quickly tooNot factored into shareprice yet

[squiresquire] 02/2/2018 07:41

so good to see them get a really good fundraise, oversubscribed and so smooth, just love it.

This really is quite an astounding opportunity, Disko i think is going to be worth substantially more than Pituffik in the long run, the more you study past explorations the more you think its a simply vast asset. Good luck all.

[maccamcd] 02/2/2018 07:25

Morning FAMily.. The WHOLE £17m went to existing Tier 1 institutions.. And a few existing smaller holders.No stags, No Flippers..Amazing support for Rocket Rod and the Journey ahead.BOOM

[thebigchap] 02/2/2018 07:12

BOOM!

Bluejay Mining plc ("Bluejay" or the "Company")

Placing of 77,272,728 New Ordinary Shares to raise £17 million



Bluejay Mining plc (AIM:JAY), the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce that it has conditionally raised £17 million (US$24million) via a placing of 77,272,728 new ordinary shares of 0.01p each in the capital of the Company ("New Shares") at a placing price of 22p pence per New Share (the "Placing Price") (the "Placing"). The funds raised will primarily support Bluejay in its rapid advancement of the Dundas Ilmenite Project in Greenland ("Dundas"), as it continues to fast track the project into production.



The Company will use the net proceeds of the equity fund raising to:



· Continue development of Dundas towards commercialisation. This will include:

o Commencing procurement of long lead items to support mine plant construction and supporting infrastructure

o Completing EIA (Environmental Impact Assessment) and SIA (Social Impact Assessment) targeted for spring 2018

o A priority mining area resource statement due in coming weeks, feeding into the mining study. Complete mineral resources estimate expected Q2 2018

o Finalising the pre-feasibility study, targeted for Q2 2018

o Completing the exploitation application and lodgement Q2 2018, approval anticipated Q4 2018

o Facilitating offtake and marketing as well as other general activities.



· Undertake 2018 work programme at Disko to further progress the Nickel, Copper, Cobalt & Platinum Project in West Greenland ("Disko"), following maiden 2017 field work.



· Fund general working capital and maintain interests in wider project portfolio, including Finnish polymetallic assets.



Bluejay CEO Roderick McIllree said, "Bluejay is a strong value proposition, offering significant uplift as production at Dundas nears. We are also excited about the opportunities that our wider development portfolio, especially the sizeable Disko project, offers.



"We are delighted and would like to thank our existing shareholders for their continued strong support in this oversubscribed placing, giving a clear indication of the confidence in our assets and our ability to deliver.



"Raising these funds is a significant achievement as we now have a clear path to advance Dundas towards production. As the project has already been proven to be the highest-grade ilmenite asset in the world, with a simple processing route and highly strategic location that could see the project be in the lowest quartile production costs, we have great confidence in its commercial potential. These funds will support us in our objectives of commencing production, resource expansion, feasibility studies, licencing applications and mine construction, many of which are due for completion in the coming months. Alongside this, whilst Dundas remains our primary focus, further upside is available via our wider portfolio. Disko has shown its potential to host large scale Ni-Cu-Co-PGE MMS accumulation and accordingly we are keen to further our understanding of this through targeted exploration work. With significant news flow and multiple value milestones due in the coming months, I have no doubt that 2018 will be a pivotal year for our Company."



Details of the Placing

Application has been made for 77,272,728 New Shares to be admitted to trading on the AIM market of the London Stock Exchange plc ("Admission"). It is expected that Admission will occur on or around 8 February 2018. The New Shares will be credited as fully paid and rank pari passu with the existing ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares").



Total voting rights

Following the issue of the New Shares, the total issued share capital of the Company will consist of 848,774,089 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 848,774,089 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.



H&P Advisory Ltd. ("H&P") and share price Angel Corporate Finance LLP ("SP Angel") acted as joint bookrunners and placing agents for Bluejay in connection with the Placing

[gersemi] 01/2/2018 18:04

no JAY update from SP-Angel which is odd but they added this today:


-

Ilmenite – Further news on RBM roaster failure and potential shortfall in Ti-slag supply

Rio Tinto has declared force majeure at its Richards Bay Minerals ‘RBM’ operations in South Africa.
The failed roaster at RBM means that the operations have been forced to suspend the four furnaces which depend on the one roaster.
Low inventory levels of roaster ilmenite suggest RBM will be looking for low C42O3 material.
Normally this might be supplied by Base Resources or Kenmare but both are thought to be low on stocks.
RBM could borrow treated ilmenite from Tronox or import ilmenite from QIT Madagascar minerals ‘QMM’ which is 80% owned by Rio Tinto. This material does not need roasting making it suitable for the RBM furnaces but again QMM may not have much stock as they are under contract to supply large volumes elsewhere.

Conclusion: The RBM supply shock, combined with low supplier stock levels, a shortfall in forecast production and rising demand looks likely to tip ilmenite contract prices higher to higher levels this month. Base Resources and Kenmare are well placed to take advantage of higher prices thought they may struggle to meet the expected increases in demand.

-

[snowyflake] 01/2/2018 16:29

mktmkr - very kind of you to mark my card but I thought that I had made it clear that I was not enamoured with him. People like him are dangerous. No wonder that with that antic he no longer has clout and following of yesteryear.

Thx again.

The instos invested in JAY know what they are doing! Bluejay is far from a fly by night company.

[mktmkr] 01/2/2018 16:21

Graham: Any concerns u may have with Institutions in JAY are largely misplaced. The sole purpose to allocate Insto's with stock is generally to keep out of the hands of the 'Stags'. These guys would turn for 3p admittedly, but the support from the current crop of Insto's I'm sure is not so much share price driven but more Milestone. Snowflake: I follow BH, and not for purposes of respect and admiration. IMO the guys a Vulture. Connected as he maybe, often he spoils markets. He no longer has the clout and following of yester yr, largely due to his cry wolf approach. In this instance he was right. But pls be wary moving fwd should u decide to follow.