Bluejay Mining Share Discussion Threads

[graham10k] 19/12/2018 15:51

With the attention of Greenland being on the Chinese menu and the obvious reluctance expected from the USA and possibly the Danes too, I wonder just how free JAY are in their negotiations with off-takes should there be interest from the Chinese. I wonder what clauses any agreement between Greenland and JAY will have on just who JAY can work with and to what extent.
Rampair suggests a preference for a JV with a large company to help build cap-ex in return for preferential terms on the supply of Ilmenite. China may have the cash but be excluded due to pressure from USA / Denmark so that's a major player out of the game. I also wonder if JAY couldn't go it alone once a customer is in place and the exploitation licence is granted as there is plenty of Ilmenite stockpiled ready for sale as and when....etc.
Personally, I don't see a buyout on the horizon near or far; not because of anything special but because it rarely happens to earlier a stage in the company development. JAY could sit there for a long time with a buyer ready to take them whenever it suited them and the fact that JAY could go cheaper today than tomorrow won't bother someone who can afford them - they could but them today or tomorrow with pocket money.
We've been in for a long haul already and I suspect it's going to be a longer haul yet to get back to a decent share price EIA / SIA / License / off-takes won't necessarily set the world on fire re. share price but it should generate a new plateau for the share price when it eventually settles. I don't intend to miss the boat for a second time should there be a share price boost. Considering all that JAY has and its potential, the market is determined to ignore it. Why, I wonder? It can't just be the lack of a license / off-take(s) when these are so confidently anticipated.

[25wbh] 19/12/2018 10:40

These guys could prove to provide some cash ?

[rampair] 19/12/2018 08:26

Depends largely on terms IF there were to be a bid in the future. Although I think we are some way off. My own personal preference would be that we got a JV with a large
Company, that helped with building capex in return for good terms on Ilmenite shipment


I wouldn’t be overly keen on a buyout, after all we have Disco, and that could do with the expertise of a large miner.

If we are playing Fantasy Future! This would be my ideal scenario, then build Greenland’s biggest mining Co.

Let’s get our first project off the ground ! - all things are possible though...

R.

[livewireplus] 19/12/2018 02:05

The BBC Greenland report on- line:https://www.bbc.com/news/world-europe-46386867

[shavian] 19/12/2018 01:04

The piece mentioned athe mineral wealth of Greenland and the size of the population -60,000. Yet some are still desperately poor, especially among the Inuit population, who want to welcome Chinese investment. Greenlanders of Danish descent are more wary.

Looks like BlueJay will not be out of the news for much longer once these geo-political themes start to play out.

[adamstip] 19/12/2018 00:10

Mont's I stand corrected they are bidding, and anybody can see this report by visiting the BBC I player and playback News at 10 for Tuesday 18th.

[monts12] 18/12/2018 23:39

I don’t think the Chinese are actually building the airports, they have tendered for the contract but I’m sure they won’t get it if the Americans exert their influence.
Happy to be corrected

[adamstip] 18/12/2018 22:28

A good 5/6 minute piece by John Simpson. 3 major airports being constructed by the Chinese and shipping routes being explored, good times coming to Greenland via Chinese investment . Looks like the Dane's and the yanks not too happy.

[xclusive2] 18/12/2018 22:24

Danes losing control and Chinese coming in as everybody else not interested. 60k population, it's going to change and quickly

[xclusive2] 18/12/2018 22:22

Adam,Yep, the Chinese are on the move

[adamstip] 18/12/2018 22:11

BBC news at 10 short piece about China coming to Greenland. Should be on in about 10 minutes.

[shavian] 18/12/2018 00:16

Sorry, double entry

[shavian] 18/12/2018 00:16

SP Angel were suggesting that this resource update would be deferred to Q1 2019. For once They were wrong and JAY delivered on time, and The news did not leak. Maybe The same will be true of an off take agreement?

[graham10k] 17/12/2018 16:48

Rampair, it seems to me the market isn't expecting any deal given the current valuation. You would expect some premium based on forward expectations but I don't see anything in the share price that's suggests this. Off-take deals are strongly predicted as imminent and there is serious expectation of a re-rating to follow but normally there would be some advance ahead of announcement yet even following improved resource statements today the market just isn't interested. Why would that be? I just can't see why JAY is being so ignored. So much for a world class asset! I'm not suggesting there's anything wrong with JAY (other than the SP) but it seems we're shackled to a ball and chain.

[bigboyblue] 17/12/2018 15:57

Agreed Rampair. There are several things all linked here. A bigger better resource will put us in a better bargaining position with offtake partners. An offtake agreement now would in any case have to be conditional on an exploitation licence before becoming effective. No exploitation licence until SIA EIA and feasibility are all completed, and JAY can't immediately finish these until assay results and Iterlak resouce are completed; both out of their control.

I would think that the offtake discussions are substantially complete, but just waiting for the final pieces of the jigsaw. I can see that this isn't good enough for people hoping to make 50% or more in a week or two, but many of us here are prepared to wait for a bigger prize.

PS As a mining novice I didn't imagine smelters were cheap, and I see that they are not, even second hand!

[bigboyblue] 17/12/2018 15:13

Latest share price Angel conclusion:
"Not only does today’s statement confirm Bluejay as having the world’s highest-grade ilmenite resource but it also expands it’s scale in tonnes and grade.

The impact of the higher grade combined with the ability to upgrade this by up to 30% is significant from a value perspective as it could result in the processing of much higher grades than are processed elsewhere in the world.

Focussing on the higher grade portions in the early years could enhance processed grades of up to 16.7% ilmenite which will significantly reduce capital costs, storage and shipping volumes in the first six years.

We look forward to further statements shortly on the PFS and to the publication the resource scale and grade from the Iterlak Delta area"
[...]

[rampair] 17/12/2018 09:45

Gersemi, appreciate your position as I’ve been here years, however I’d much rather get the Right Deal than any deal (We’ve seen recently how bad deals can be in politics)

I think that Mr McIllree has been vindicated regarding last years JORC & as the current Moriusaq drill:
• New updated JORC Compliant Mineral Resource of 101 million tonnes at 7.1% ilmenite (in-situ). (Table 1)
• New resource includes higher grade portions at various cut off grades of:
o 31.2 million tonnes at 10.7% Ilmenite in-situ (using a 3.5% cut-off) o 16 million tonnes at 12.9% ilmenite in-situ (using a 4.5% cut-off)

Then, we will be able to add in Itelak & beyond Itelak the exciting Delta2 (Pingarsuisut - Penguin suit)which on a map of the licence looks to be a large Delta of sediment,
Speaking of sediment, don’t forget our licence includes the tidal area where incredibly high grades are found due to the smaller particles getting winnowed out.

All together this is building a Grade 1 asset and as such I’d rather have a deal done
on a World class asset, than a quick deal on a lesser asset just for the sake of it.

I’m sure our board are doing their absolute best & they are to be commended - how easy it would be for the large holders to take an offer when they would get large sums
- credit to them for going for the best offers in my opinion. Much better for existing
holders.

Just my opinion
Not advice, etc.
R.

[gersemi] 17/12/2018 07:59

Off-takes required. This would de-risk JAY stock and lead to a massive re-rating

[bigboyblue] 17/12/2018 07:57

Pleasing not just for the resource update but also confirmation that everything else is on track.

[shutittrev] 17/12/2018 07:20

Hi Snowy. Yes another step in the right direction.
As for 'Andy', I think the term, 'useful idiot' has been used on other boards to correctly describe him.

[snowyflake] 17/12/2018 07:15

Excellent resource update for Moriusaq - note that it does not include Iterlak and Iterlak East.