Bluejay Mining Share Discussion Threads

[superg1] 23/4/2018 14:52

Just a question.

I know about this one re the easy mining but how are they going to sort transportation, has it been covered.

The area is frozen over most of they year as is well known.

By what means do they intend to get the product onto ships. I have noted the shallow marine environment comment before and as I understand it's 20 metres deep 1km out.

[longrod] 23/4/2018 14:22

I agree. Big, hard line under share price now.

Should consolidate for a bit and move off in my opinion, been wrong before though so don’t trade on my views!!

[astralvision] 23/4/2018 13:07

think this news is the required base that further releases can be based on.
It's a prerequisite, share price should take care of itself moving forwards.

[graham10k] 23/4/2018 12:46

So, we have a brokers target price of 45p raised from a previous 37p. The news today has done little to threaten the old guesstimate of 37p so how we get to 45p is a mystery. In previous posts there is reference to a large seller - why?
So we continue to wait for news on off-takes etc. with the hope that the share price might start to move forward on their arrival. Let's hope so. Although this news consolidates our position it's hardly been worth the build up of anticipation.

[littlealbatross2] 23/4/2018 11:59

Monts Was that not 11th of April?

[rampair] 23/4/2018 11:53

51% IRR discounted at 10% - that is World Class. Look at other companies and each time
Keep this figure in your head.
They have yet to add in the drowned beach(underwater sands expected to be higher grade) or,
Iterlak Delta, the source for all this Ilmenite, it had areas of 70% plus.

This will be financed in a heartbeat, mainly because unlike other projects we see around the World, sifting and sorting Mineral sands off a beach isn’t exactly capital intensive.

The fact that the product had below detectable levels of radiation is of vital importance, it means that the cosmetics industry can use TiO2 made from our Ilmenite.
That is a massive market & a very good reason to smile at any clowns..

R.

[monts12] 23/4/2018 11:20

The Iterlak video link is

[monts12] 23/4/2018 11:18

Target Price raised to 45p (from 37p)

Bluejay Mining report a >400% increase in their estimation of the Dundas (Pituffik) titanium mineral sands resource in Greenland.
The JORC 2012 compliant mineral resource estimate has been prepared by SRK Exploration Services who are known for their rigour in resource estimation.
Indicated resource now stands at 96mt grading 6.9% ilmenite.
Moriusaq: 81mt @ 6.1% contained Ilmenite
Inferred mineral resource is made up of:
Itelak East: 7mt @ 12.2% contained ilmenite
Morisaq surrounds: 7mt @ 9.2% contained ilmenite
Itelak West: @ 1mt @ 6.1%
Iterlak Delta: The statement also highlights a further SRK derived exploration target of 20-60mt grading between 6-10% in-situ of ilmenite over the Iterlak Delta.
The mineral resources have been compiled under the direction of Dr Mike Armitage who has a well-respected and world-renown reputation in the field of resource estimaton.
77% ilmenite: According to the company the highest grade at Iterlak was a staggering 77% ilmenite in-situ on the raised beach at Iterlak.
The almost unbelievably high grade at Iterlak is unprecedented in ilmenite deposits so far discovered in the world and appears to be down to the unique location of the Interlak delta area, the purity of the eroded ilmenite grains, the action of the river runoff where it meets the sea.
We conclude the Interlak Delta area has potential to grade significantly higher than other parts of the resource over a very significant tonnage though this has yet to be fully tested.
See attached video of the Interlak delta area taken from an old Huey helicopter which may have been left over from Nam:
Bluejay_Interlak_video_link
Further videos of the Interlak Delta and beaches along the coast are available on request. Video taken on an iPhone6 by share price Angel mining analyst.
Further ilmenite resources should also be contained in the shallow marine environment.
The ore should be simple to upgrade by up to 30% through the simple separation of oversize, eg pebbles, at the dig face.
The results appear to confirm the ‘world-class’ and ‘unique’ nature of the deposit
Verification: While SRK have checked the mineral resource our site visit last summer also confirmed to us the presence of very high grade ilmenite along the beach in our own bucket test, whereby we loaded a 5ltr bucket with ilmenite sand directly off the beach which we weighed at various locations.
Quality: Dundas’ ilmenite material is reported to be suitable for Sulphate pigment as well as both sulphate slag and chloride slag production.
This is an important statement as it indicates that the product is readily saleable to the world’s major titanium processors for use in pigments, chemicals and titanium metal production.
Location: our field visit to the Dundas (Pituffik) site in Greenland confirmed the accessibility of the project and the potential to mine and ship substantial tonnages of pre-sorted material relatively easily.
The project location next to a deep-water fjord is of great benefit and we look forward to seeing the engineering design of the ship-loading facilities in the feasibility study
Price: Bluejay expect prices to rise over the medium term to US$220-250/t FOB for their ilmenite due to its grade and quality. Their price estimation suggests there is good demand for their higher quality product and there is continued supply constraints in feedstock supplies to support this view. Importantly, key contaminants are below problematic limits with radionuclides below detection limits
Upgrading: the ability to simply pre-sort the ilmenite at the dig head should enable the project to work with a head-grade of >10% ilmenite material.
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.
Cash: The company has cash of £15m in the bank and has a fleet of vehicles for exploration and small scale production at site. Bluejay is fortunate to have a functioning camp at Moriusaq.
The team plan to continue to prepare the necessary infrastructure
IRR: The project shows a 51% IRR on our modelling
Conclusion: This is the most compelling titanium mineral sands project we have ever seen. The question now is at what point will the major mining and processing companies of the world take a closer interest. We expect the market for titanium mineral sands to tighten further this year as demand continues to grow and for projects of this nature to become increasingly valuable from a corporate perspective.

*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.

[monts12] 23/4/2018 11:11

I would suggest you are a bit naeive if you were expecting a 400% uplift in the share price. Share price invariably moves in anticipation of news and in this particular stock there was a big bull account.
Further news will drive the price, upwards imho

[mandatory] 23/4/2018 10:54

400% increase in resource .4% increase in share price, gotta love AIM.

[snowyflake] 23/4/2018 10:50

thebigchap - imo this is a stock which is right for Tier 1 managers. Thus do not be surprised if Tier 1 managers pick up any loose stock.

Also further steps to come - look again at the last placing's RNS which set out timelines for the EIA SIA and internal DFS. Therefore look for further announcements over the next weeks.

[maccamcd] 23/4/2018 10:41

Bluejay Mining* (JAY LN) – STRONG BUY – Target Price raised to 45p (from 37p) - Bluejay report a >400% rise in world’s highest grade titanium mineral sands resource with 77% ilmenite seen at Iterlak

[adiekirby] 23/4/2018 10:24

I never understand how good news can be "priced in" to a point it takes us down.......what were they expecting?

[thebigchap] 23/4/2018 10:18

ok lads what am I missing here? we get the news we have been waiting for..its pretty dam good.. we know there is more to come in the same vein of thought.. so why have we returned to the price we closed at on Friday... Rampair? macca?

[snowyflake] 23/4/2018 09:33

For me the potential is encapsulated in the first paragraph of Rod McIllree's statement.

An excellent result and well worth the wait.

[gersemi] 23/4/2018 09:12

We now need offtake news and maybe capex committments from suppliers...

I am assuming today's news was, as they say, 'priced in'....

Optimistic

[bgnhlr] 23/4/2018 08:53

And with the newly identified Interlak East, comes a potential increase in resources no? Felt good to read that they're discovering new areas in addition to other announcements.

[sheep_herder] 23/4/2018 08:51

All that waiting and excitement for a 2% rise. Lol

[25wbh] 23/4/2018 08:41

Very good results for Jay Rampair,B

[rampair] 23/4/2018 08:36

Good News in Daily Telegraph this morning! Vast new resource discovered by Bluejay!

if you are looking to be in a decent company
then a 400%+ increase in resource should show that they are very much on track, expect a fair bit of news will pick this up.

The grades of Ilmenite at Moriusaq (the village at Dundas)are brilliant.

Just for clarification Iterlak is some Km down the beach, it’s the Glacier that appears to be the source of the Ilmenite- right in our licence. This, will appear to provide the next target to add to our resource- if necessary!

SRK also seem to agree that the raised beach, the drowned beach, etc etc all seem to hold Ilmenite- this is excellent.

Happy Rampair!

[astralvision] 23/4/2018 08:34

To infinity and beyond.....That'll do for starters!

[citytilidie] 23/4/2018 08:27

Let the sellers get out of the way. I'm sure they will soon be mopped up and then the share price will progress nicely. This announcement will give the shares a great supporting base to move up from....to infinity and beyond