Bluejay Mining Share Discussion Threads

[rampair] 31/10/2018 17:03

Oops, looks like the share price slipped UP!

[snowyflake] 31/10/2018 14:25

summerfield - I reread the header timelines in the interim statement. Whilst you do not allege that the company is behind in its estimates, I think that having set out those timelines, it cannot be suggested or implied that the company is behind any of those estimates.

[summerfield1] 31/10/2018 13:16

Volume has dried up.The company must deliver news as set out in the timeline described in the Interim Statement. No more slippage.

[snowyflake] 31/10/2018 11:48

Thank you Rampair for that Eramet link. If Eramet were to do business with Bluejay it would mean transport around the base of Greenland and then up the west coast to Dundas, should processing take place at Bergen.

[rampair] 31/10/2018 09:35

Eramet has also been busy in Acquiring assets for Norwegian processing at the plant in Norway, they use a Dredger that operates in its own man made lake as it extracts Ilmenite and Leucoxene(weathered Ilmenite) plus other elements at a plant in Senegal
This is at a grade of 2% mineral sands. The Ilmenite is sent up to Norway for processing


It’s not exactly a great distance from Greenland to Norway and as ERAMET are a very large corporation who are keen to Expand - they may well be a Company that would be interested in Greenlandic Ilmenite. Again, during their takeover of Mineral Deposits earlier this year - that took a lot of negotiating before completing.

The above video gives an overview of the process, including the Dredge extraction in action. -

R.

[snowyflake] 31/10/2018 09:00

We know that the company is engaged in talks with potential off take partners; what we do not know is how far any of those discussions have advanced. We also know that many TiO2 producers are having various problems which is worth following.

However producers of rutile, zircon and ilmenite are also facing problems some of which have been highlighted on this bb. Such problems reduce supply of the raw material.

The latest miner to release a negative report is Iluka Resources on 23rd October when the company announced a strike at the operations of its subsidiary Sierra Rutile. SRX (SRL) mines rutile, zircon and ilmenite. Some may recall that I had a holding in SRX and that I was disappointed in the take-out price achieved. Be that as it may the fact is that including the debt of building the Gangama mine and infrastructure, SRX was sold for £250 million. M & G (Prudential) one of our large institutional investors had a 20% stake in SRX; I do not believe that M & G were impressed by the take-out price. I think that it would be fair to say that M & G would not be invested in Bluejay unless it understood the potential.

A party will want our ilmenite; it is a question of patience but it is worthwhile investors watching the 5th October IG interview of the ceo again for a good update on progress.

[uggy100] 30/10/2018 22:42

In the current market environment it's hardly surprising that the share price has weakened. The uplift will come as Jay pass the regulatory hurdles & obtain a good offtake agreement (as a holder I believe they will of course). To my mind it's a question of when not if but can they please get a move on ! lol

[rampair] 30/10/2018 21:06

Summer field,we live in hope!

[moreminer] 30/10/2018 15:52

Hello Summerfield,

Yes, guess we all are sort of hibernating and counting the days.
Lets hope that the countdown comes to en end, soon.
Cheers

[summerfield1] 30/10/2018 15:07

Silence on this board is deafening. Positive update coming from Jay?

[bigboyblue] 28/10/2018 08:17

You're welcome. Like you, I'd like to see some of these boxes ticked soon!

[graham10k] 26/10/2018 19:11

Bigboyblue
Thank you for your comments. Appreciate it.
Graham

[jackhenleo] 26/10/2018 13:59

rayrac : I suppose your going to tell us that you got your info about the mine in Chili from the CEO called Conrad (Con) Carne.

[slimchops] 26/10/2018 06:11

Can't even spell properly...says it all.

[monts12] 26/10/2018 01:18

Company reps? Lol

[rayrac] 25/10/2018 23:42

Cheapest ilmenite mine is in Chili! I wouldn’t put to much store in Bluejay. Company reps are raiding this thread...beware.

[monts12] 25/10/2018 21:15

Bbb
Good post...

Iterlak Delta area JORC upgrade will be transformational, how much would a major pay for circa 150m tonnes of proven (probably many times that not proven) resource?
That is high grade, homogeneous ilmenite , obtainable using the lowest capex in the industry....available to mine in a friendly, stable jurisdiction for decades? $600-900m would be my guess. Small change for a major like Rio.. Imho

[moreminer] 25/10/2018 19:21

Bvb,

Well put. I agree fully. Thanks.

[bigboyblue] 25/10/2018 18:44

Graham: My understanding is that the EIA is pretty much done and I'm surprised it hasn't been published yet, but I don't think that will move the share price much. SIA and feasibility I think is more interesting.

This is the Government policy on SIA: Note in particular that the Government "...must lay down to what extent a mineral resource company (licensee):

Must use Greenland workers
Must use Greenland enterprises for contracts, supplies and services
Must process exploited mineral resources in Greenland."

Early this year it was assumed we would be doing everything ourselves. People were talking about ball park figures of around £50m to get up and running. The £17 raised in February was a good start, but no more than that. Then it all went a bit quiet over the summer.

When the interims were published "optimisations" which might reduce costs were mentioned, but with no further details. A week or so later Rod went to Greenland where he met with the PM and the mining minister. Literally a few days after that in the IG and Proactive interviews he gave more details of the optimisations, ie doing minimal processing in Greenland and instead completing it at existing facilities in Quebec. It's not a huge leap of logic to assume that the PM gave the heads up for that idea.

Why would he do this? 1. Because they want to start earning royalties sooner rather than later and 2. Although they are keen on job creation there are practical difficulties in uprooting dozens of extra workers from elsewhere in Greenland, as Rod has explained.

Clearly this involves reworking certain aspects of the SIA and feasibility study. Capex will be considerably reduced. We'd need a pier and presumably some more heavy machinery for moving and sifting (Rampair: details please?...) but nothing like as much as we previously thought. I think that all we need is an offtake agreement and things will move very fast.

[rayrac] 25/10/2018 16:59

Big mine just being extended in Chili! Telegraph.

[graham10k] 25/10/2018 11:53

We need what's supposed to be at the end of the rainbow and if it doesn't come soon there could be more doom & gloom. I know we can't expect much before November / December but this is becoming quite a drag. EIA, SIA, Exploitation Licence and Off-takes (customers) need to be in the Christmas crackers - please!

[will02p] 23/10/2018 09:30

I feel we have some rainbow chasers selling here..oilies...glah topped up @ 12.34

[will02p] 22/10/2018 14:02

Can't be bad I am in profit already..