Bluejay Mining Share Discussion Threads

[dhb368] 27/1/2020 09:37

I suppose that this is the least exciting RNS we will get over the next quarter or so, but JAY could at least tick up!

[mirandaj] 27/1/2020 07:26

Showing maps and diagrams

[archie222] 25/1/2020 11:24

Some thoughts from me (rough figs. only.

Jays concept prover HMC refiner in Contrecour capable of 2.4kt per week (H&P & RNS 18-06-19)

ROM Sample size 42kt / shipping date 9th Sept. 19

Transit time 6d (I think)

ASSUMING (my expectations of any actual info updates not being high)
- they had things set up (& it could be argued they had ample time for prep) they could have made a start something like 20th Sept. 19

… a straight run (unlikely I know) would see the WHOLE of the bulk sample processed in 17.5 WKS. Making completion something like 24th Jan (yesterday in fact).

Of course, RIO only needed half this amount so their part of the sample (in HMC form) could have been delivered much earlier. In which case smeltering may be on-going.

Note - An earlier bulk sampling exercise was conducted 12th Sept. 18 and I would be very surprised if RIO hadn’t been a recipient of some of that material. Possibly the second batch is testing the processing of the material in more commercially representative amounts.

[mirandaj] 25/1/2020 10:35

Couple of things of interest - from reading Hannam report

Dundas

"We have also assumed that BlueJay will ultimately be capable of achieving LoM unit operating costs of ~US$100/t in real terms, 12% below the PFS estimate of US$113/t, again on the basis of stripping out contingencies and assuming more efficient mining and ore transportation using Rail-Veyor® technology."





Catalysts Page 18


"Processing and delivery of first batches of HMC bulk sample to Rio Tinto: once RIO has received ilmenite from the bulk sample sent to Canada for processing earlier this year, they will produce a TiO2 slag from their furnaces at Sorel-Tracy. This slag will then have to be tested for quality and assessed for commercialty by RTIT’s customers in the pigment industry. Results from this bulk testing process will help to determine the value-in-use of BlueJay’s ilmenite for RIO’s TiO2 business, and will therefore define RIO’s future strategy with regards to Dundas, in our view. News flow on this front is unlikely to be released as the results will most probably form the basis of confidential negotiations between RIO and BlueJay over their level of involvement in the project. "

[perfect choice] 24/1/2020 18:04

The EIS/SIA consultation is a minimum of 6 weeks I recall so a fixed period which to happen, so already looking late March at best, so expect April for actual granting of exploitation licence. yes would agree RTIT announcement more likely to be the output of any supply strategy change so more than just smelter results and will take longer therefore.

[bigboyblue] 24/1/2020 16:41

Next news we hear on exploitation will be that the EIA and SIA have gone to consultation. That will be seriously good news. It means that the application has been fully scrutinised and found to be compliant with all their requirements. In my view, once we reach that stage the consultation itself and the IBA will be relatively straightforward.
I would be surprised if RIO announce anything at all until they've decided they are either going to deal with us, or walk away. Anything prior to that would probably be commercially sensitive.

[livewireplus] 24/1/2020 16:37

Indeed - but last two trades of the day were reasonable size and indicating as buys (above the ask price of 8.33) - so let's see what nect week brings .... :-)

[perfect choice] 24/1/2020 15:05

Wish there was more interest in the JAY share then as bit of a downward trend over past few days as graph shows. Considering the expectation of news this quarter for JAY, would expect trend to be opposite way! But looking at items like 250K sells earlier today, may be some seller around just knocking the price back a bit for now as a result.

Apart from RTIT smelter results which could come out any time now I guess (if they decide to go public), its looking further news on exploitation licence is more near end Q1 according to that recent H&P report, plus exploration programme for summer 2020 probably expected around March/April once they selected their drill partner. So also a bit of a quiet period I'm thinking.

[bigboyblue] 24/1/2020 11:37

More interest in Greenland:

[kemismelt] 23/1/2020 08:02

Rio reports Q4 results
Rio Tinto reported Q4 2019 results with titanium feedstock production of 286,000 tonnes, 3% lower higher than Q4 2018. For the full year 2019, titanium feedstock production was 1.206 million tonnes, an increase of 8% from 2018.
www.riotinto.com
17 January 2020
credit: TZMI.

[rampair] 23/1/2020 07:52

According to recent figures the market for ilmenite is tight. TZMI out today,
Base resources have figures out

Base Resources released its quarterly activities report for Q4 2019 with ilmenite production of 91,406 tonnes, rutile 19,812 tonnes and zircon 7,923 tonnes. Tight market conditions from the ongoing constraints on global supply of sulfate ilmenite and high-grade chloride feedstocks resulted in further price gains through Q4 2019.
www.baseresources.com.au
23 January

R.

[bigboyblue] 22/1/2020 11:07

We could get one for Rod for his birthday.

[perfect choice] 21/1/2020 15:27

Thanks, I'm definitely happy to have taken the wrong assumption!

[bigboyblue] 21/1/2020 13:57

That was my impression too.

[dhb368] 21/1/2020 13:19

PC - Almost certain that 106 is not the 5th licence.
RM was discussing the 4 projects (Dundas, Disko, Kangerluarsuk and Finland) when he mentioned a 5th so I am expecting a completely new prospect.

[perfect choice] 21/1/2020 12:19

All logical bbb but just one thought on that 5th licence slip. I wonder if Rod may have been thinking about the additional block 106 at Disko to add to the current 4 licences around Disko, so to make 5 in total. So it wasn't a completely new licence area on Greenland but a further licence for Disko? Pure guess from me but a thought.

Your point 2 is a very good point to reduce licence costs or more importantly, allow them to concentrate spending where they want to for now and not be forced to spend some money in each of the separate licences as you say, when some of these could be drilled and explored later.

[lovewinshatelosses] 21/1/2020 09:59

Triple B, most insightful and hopefully your interpretation is correct. It is certainly interesting material and it cannot be too much longer (surely) until we have some formal news to digest.

[bigboyblue] 21/1/2020 06:39

Some thoughts on licences. For those who don’t haunt the pages of the GMA website I’ll provide two links. This one is to the online portal where amongst other things you can see a list of current applications and a map which I’ll call Map A. The list shows applications for “approval” which means they’re under consideration, or “licence pending” which means they’re approved and waiting for documentation and for the licence fee to be paid. Map A shows current licences.
The second link is to the homepage of the GMA where there is another map (Map B). This too shows the licences, in blue, but it also shows areas where applications are being considered in orange/brown. This corresponds with the applications list on the portal. Three observations:

1. If you zoom in on Map B there is a block number 106 on Disko Island. This has been listed for “approval” for months, but last night its status changed to “licence pending”. This same area is shown on page 40 of the Hannam report as ours; how can this be? It seems to me that JAY and therefore Hannam got the heads up from the GMA on this and we can expect an announcement pretty soon to say we have a new block on Disko.
2. Excluding block 106, we have 4 licences around Disko. Some are split so they are partly on the island and partly on the mainland but they total just over 2600sq km. The largest of these is 2018-16 which is shown on Map B as “under review” with the application code M50. Application M50 has been shown for a while as an application for enlargement. My guess is that JAY are seeking to merge some of their smaller licence areas into this one. There would be a fee for this but it would mean only one annual licence fee in future instead of four. More to the point, it would give the company greater flexibility in terms of where within the area they spend their exploration money. As it stands they are expected to spend a minimum amount in each of the 4 areas, based on size. With one large area the minimum expenditure would be the same, but there would be no requirement to explore a specific part of the area.
3. I presume that somewhere on map B and on the applications list we have at least one other possible licence. This will be the one that Rod let slip, apparently inadvertently, during the recent Proactive interview.

So all in all it seems we are expanding. I doubt if all of this would be taken on unless there was some realistic prospect of money coming in to finance it, either through a sale, offtake(s) or a JV.
Disclaimer: All the above is my interpretation and any or all of it may be completely wrong!

[perfect choice] 20/1/2020 12:40

See article below, nice time to start progressing a Nickel prospect with PGMs particularly with Palladium content, e.g. Disco - " MMS occurrences have been identified in the Disko licence area with the largest being a 28t boulder that assayed 6.9% nickel (‘Ni’), 3.7% copper (‘Cu’), 0.6% cobalt (‘Co’) and 2 g/t PGM’s". Need the summer 20202 drill results to really put Disko on the map but an indicator of potential value here.

[mirandaj] 20/1/2020 11:45

The full H&P #research note on $JAY can now be found on our website.
Check it out to learn why they’ve given us a 20p/sh target, marking +130% upside from the current share price -

[perfect choice] 18/1/2020 17:52

Yes Disko has potential to produce some gold, text below is from page 43 of the report. But Disko main target is Nickel.

Good thing about this report is its going into more detail than typical broker reports I've seen before. For example I wasn't aware of the three new strongly mineralised outcrops found in 2019 at Disko (page 42 and described on page 43/44) and good to see the company is now happy they have discovered the source of that significant boulder which first made Disko a target and that location is now part of the planned summer 2020 drilling to cover both Disko and Kangerluarsuk with the same drill contractor as it seems from what is stated, which makes a lot of sense anyway.

Page 43 text:

Notably, the aforementioned mafic sill contains an intersection of gold-bearing iron-cumulates, yielding historical assays of 32 g/t gold in a concentrate. The basal contact of the sill was never penetrated by Falconbridge, but the iron cumulates and sulphides at surface point to the potential for much larger sulphide accumulations at the base of these magmatic bodies.

[moreminer] 18/1/2020 17:21

Gold?
Do we have gold?