Share Name Share Symbol Market Type Share ISIN Share Description
Bluejay Min LSE:JAY London Ordinary Share GB00BFD3VF20 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +2.78% 18.50p 18.00p 18.50p 18.50p 17.25p 17.50p 2,752,394 16:15:41
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.6 -0.2 - 142.16

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Date Time Title Posts
17/8/201720:27BlueJay. Pituffik Superstar1,458

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Bluejay Min Daily Update: Bluejay Min is listed in the Mining sector of the London Stock Exchange with ticker JAY. The last closing price for Bluejay Min was 18p.
Bluejay Min has a 4 week average price of 11.50p and a 12 week average price of 11.50p.
The 1 year high share price is 18.50p while the 1 year low share price is currently 7.75p.
There are currently 768,432,554 shares in issue and the average daily traded volume is 5,258,879 shares. The market capitalisation of Bluejay Min is £142,160,022.49.
aravali: great banter boys...keep it up up up, like the JAY share price! thanks minder5...imo its an an important point to note that the management are heavily aligned to its shareholder base with their holdings...Rod and team would not like to be diluted with large capital raisings at low prices - borrowing from the capital markets and agreements with companies involved in the dredging and shipping process will ensure that dilution will be as minimal as possible
airs999: Big august weeks coming up for bluejay, I hoped july would be the hot month but I got my dates wrong in all honesty. August would appear to be the month of good news and good share price upward movement. Handshake to all bluejay devotees
monts12: Reproduced with attribution to 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
snowyflake: Given M & G's disclosure this morning of having a 9%+ interest in the equity of Bluejay, it is worth my highlighting that the same fund had a large holding in Sierra Rutile (SRX)which as some will know was acquired by Iluka Resources in December 2016 for over £250 million including debt (36 pence per share plus debt). I was a shareholder with quite a large holding. Many of us PI investors in SRX were disappointed in the take out price of SRX and it may well be that M & G were likewise disappointed. At one point before the downturn in the price of rutile, zircon and ilmenite and also before the unfortunate Ebola epidemic, the share price of SRX touched 80 pence. The chairmen at the time made some purchases in the market at 50 pence plus. As many will know the price of ilmenite has been improving and Bluejay has a resource of exceptionally high purity.
jaknife: minder5, Once again, here's the real planned (Government permission needed) drill announcement: "400 drill holes have been planned with drilling to commence in July" see: hTTp:// You claim "it's been an area researched for several decades by the danish government." You're right, it's been investigated and ignored as a poor project by hundreds of others. Once again from the annual report: On 8 March 2016, the Group acquired 60.37% of the share capital of Bluejay Mining LImited ("Bluejay") for £905,607 ("Bluejay Acquisition"). Bluejay is registered in the British Virgin Islands and holds a 126km sq. mineral exploration licence in Greenland. As a result of this acquisition the Group is expected to increase its presence in this market and commodity. That tells you how much the project is worth. But the share price has been ramped and mugs have been sucked in to permit major shareholders to dump. JakNife
jaknife: minder5, You see how I provide links to back up my claims to demonstrate that they are factually true? It would be nice if you might do the same. Here's an extract from JAY's recent RNS: "400 drill holes have been planned with drilling to commence in July" see: hTTp:// See the word "planned"? Jay has actually drilled nothing. irs999's claim that "Plenty of holes have been drilled revealing an insight into what is to come." is false. It is not true. It does not agree with the facts. Do you understand that the real value of Bluejay is less than 10% of the current share price? regards, JakNife
jaknife: Rampair17, Thank you for proving my point and taking on the role of the liar. Definition of a mine: a hole in the ground with a liar standing next to it. Bluejay hasn't even dug the hole! Even worse, it doesn't even have permission to dig the hole!!! This is the current status of Bluejay's "permission": hTTp:// it clearly explains that Bluejay has none. In the meantime Bluejay is a box with some cash in and a begging letter to the Government of Greenland. Looking in the box you can see tangible assets worth about £8m but at the current share price of 14p the stock market irrationally values that box at £112m. That's why the major shareholders are dumping: because the market price is 14 times the sensible rational price. regards, JakNife
citytilidie: I couln't read the full article before but have just managed to find it now. It doesn't mean much, but when I just saw the headline I didn't know whether it meant them selling down their stake. I think not (at least yet anyway) Western Areas Limited ("Western Areas" or the "Company") (ASX:WSA) announces that a A$13.3m increase in post-tax FY17 earnings is expected as a result of discontinuing to equity account the Company's investment in Bluejay Mining Plc (Bluejay) (formerly FinnAust Mining Plc) during the current half. Western Areas has ceased to equity account its investment in Bluejay with the Company's ownership and voting interest reducing below 20% following finalisation of all merger conditions and accumulated dilution since the merger between FinnAust Mining Plc and Bluejay was announced in 2016. Western Areas now holds 19% of Bluejay. The expected A$13.3m non-cash gain is based on a revaluation of the investment to market value using the quoted trading price of Bluejay shares on the London AIM at the time of ceasing to equity account. It remains subject to finalisation of the independent audit of the Company's full year financial statements. Any future revaluation of the investment to market value for financial reporting purposes will not impact the earnings of Western Areas. Such movements, in accordance with accounting standards, will be recognised on balance sheet through equity reserves and not through the profit and loss of the Company. Western Areas' 19% shareholding in Bluejay is currently valued at £19.4m (A$33.8m) based on Bluejay's closing share price as at 23 May 2017.
snowyflake: STAV - whilst I agree with you that production is very important that is what the board and shareholders are aiming at; there are imo two fundamental steps that will increase the MC of the company and thus the share price. At present our MC is in line with that of Base (BSE) but we are in Greenland and Base are in Kenya. I was invested in Sierra Rutile (SRX) until just before the completion of the takeover by Iluka. Using hindsight would I prefer to be in the jurisdiction of Greenland rather than either of the other two jurisdictions; the answer is yes because there are imo greater risks investing in companies operating in Africa. Both Base and SRX are producers but their pigment is not of the quality of that of JAY. Also JAY does not require a mine per se; mines are expensive to build. My two fundamental steps are (1) to drill and improve resource and convert inferred to indicated and increase resource overall whether indicated and/or inferred. An improved resource should increase the share price. Number (2) is the exploitation permit which in turn will increase value and without that save for bulk samples there will be no production. Get numbers 1 and 2 achieved and the MC will be between 100 and 200 pounds sterling. The higher the proven resource the higher the MC. Should the competent person be able to estimate resource at a far greater level (see SRX)come production the world could become ones oyster and I would be looking at 27-68 pence per share especially if sales prices stay at the current high levels; and in that regard, given the purity our ilmenite should be in great demand So I do and do not agree with you!!!
lowflow: I read this in Align Research report, dosen anyone know anyhting about this: "Director backgrounds We note that certain Bluejay directors have, shall we say “interesting” histories. Rod McIllree was the founder of ASX listed uranium explorer Greenland Minerals and Energy and its Managing Director up until August 2014. Australian newspaper The Sydney Morning Herald reported on several issues with the company including questions over its ownership structure (see here hxxp:// and the rapid dilution of shareholders via the issuance and exercise of options. In addition, it would appear that McIllree and fellow director Simon Cato sold stock into the market immediately after exercising options – see here hxxp:// 1f0px.html and note in particular: “In mid-April (2011) those two (Cato and McIllree), and Whybrow, each received 4.4 million newly vested options. Earlier this month (May 2011), Cato and McIllree both announced that they had exercised some of their options, 1.55 million and 250,000 respectively, but their filings suggested that they must have sold them immediately because their total shareholdings remained unchanged.” The share price performance of Greenland Minerals has been “erratic”; to be polite – see chart below. What Greenland Minerals has in common with Bluejay is that there was a concerted news blitz that increased the stock price materially before the company was laid low in large part due to the debt that was taken on. The problem with a heavily promoted bull story is that at some point the major stakeholders have to get out and, if there is not a liquidity event to provide this, exit gravity inevitably asserts. We also point out that Greg Kuenzel, Non-Exec at Bluejay, has a history of value destruction at AIM listed Noricum Gold where he is Managing Director and where he has failed to prove a JORC resource at various projects. We also add that we have posed a number of questions to Rod McIllree in relation to these points to which he has deigned to reply."
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