Bluejay Mining Share Discussion Threads

[perfect choice] 31/1/2020 11:17

430ktpa certainly within the capability of JAY but as part of the main investment funding and construction programme, so certainly not immediate. But for any initial start-up supply then I would agree a ramp up. The excellent H&P detailed report uses 144.5ktpa for its first year of production in 2022 for example.

[lovewinshatelosses] 31/1/2020 08:14

Thanks for those further thoughts K. I have already been accumulating right down to the all time lows, but now the company has to deliver, to justify in my mind any further share purchases. If you turn out to be correct in what you suggest regarding DT A/S, I will tip my hat to you.

[kemismelt] 31/1/2020 01:30

lovewinshatelosses
30Jan20-7270:

That's a flawed strategy. At 7.8p just lap it up and more and try converting your holdings on this ticket to Dundas Titanium A/S, ASAP. I see >7x returns as soon as hiving off is completed by LON:JAY and it becomes a stand-alone Greenlandic entity.

[kemismelt] 31/1/2020 00:19

Perfect Choice 30Jan20-7273:

Lets be practical. A 430ktpa ilmenite capacity at Dundas is far out of reach of LON:JAY both on CAPEX and timelines! Even if we were to assume that the £10M you mention is physically accessible untouched in FS2020, there are other chicks in the diversified portfolio-nest and the management overhang shrieking their lungs out for supper. A more modest 1200ktpa of just ROM-HMS could be achievable under 'eskimo-conditions' constrained by each field-season limitation. How we convert this into 150ktpa of sale-able ilmenite cost-effectively and where is another story.

[borromini1] 31/1/2020 00:06

SP Angle dropped their target share price by 23.5 per cent. They seem to think the value has recently moved further into the future.
Does this merely reflect what has already happened to the SP? Or is this an expectation of a further drop before the good news turns up?
To drop 23.5 per cent to 7.78p means you start from 10.17p. That was November’s share price prior to the fundraise. Or starting from an share price today of 7.78p you go down to 5.95p not seen since last August.

• Target price adjustment and assumptions: we have made a number of adjustments to our model on Bluejay Mining resulting in the adjustment to our target price to 16.3p (from 21.3p).

[32campomar] 30/1/2020 23:19

Chunky volume. Perhaps the overhang from the placing has been cleared? Let's hope so, ahead of potential news next week

[andy] 30/1/2020 17:56

Xclusive, BBB,


I would imagine they would have to refer to some sort of independent outside body, I can't imagine such a small government can have expertise in all the technical aspects of the reports.

[xclusive2] 30/1/2020 17:18

11.1m traded and haven't got a clue what's going on !

[xclusive2] 30/1/2020 17:17

We'll that's a whopper

[xclusive2] 30/1/2020 16:00

Thanks BBB, I expected that to be the case. Patience is something I do have in spades unfortunately, that's in relation to AIM investing ! I was hoping to use the proceeds in my retirement, not the kids...lol The wait goes on .

[bigboyblue] 30/1/2020 15:01

xclusive. I don't know for certain, but I've always assumed they would have to bring in specialist support for this sort of thing. Their organisational structure is quite complicated:
They used to list the individuals employed by name and role. That seems to have gone from the website now, but numbers weren't huge.

[xclusive2] 30/1/2020 14:10

Andy,I think BBB would know more about their internal technical capability, he researches more than most and past licencing history demonstrates that we've moved up a notch from snails pace. Over to you 3B.

[perfect choice] 30/1/2020 12:37

No money in the till? JAY just raised £10M, if you are talking about the construction cost then yes that is subject to funding so back to offtake, JV or even European funding as the company has mentioned. All work in progress that.

[seejayem] 30/1/2020 12:29

Someone wants out and someone wants in! Be nice to clear this overhang!

[kemismelt] 30/1/2020 12:21

Perfect Choice
30Jan20-7269:

It's nice to be optimistic, but not with a 430ktpa nameplate in Greenland especially with no money in the till!

[lovewinshatelosses] 30/1/2020 10:31

Hi Kemismelt, that's a bit too cloak and dagger for me; I was just curious generally, but I respect your position and if you do not want to air it publically, no worries.
FWIW, I will no doubt continue to grumble, as we await news after the ongoing exasperating delay(s) and while I will not buy one single share more until we get a clear sign of material movement on Dundas (or a big inside buy from someone in the company that is not RM) - I also am not selling a bean here either. GLA.

[perfect choice] 30/1/2020 09:55

Agree xclusive2, acid test is giving EIS clearance by 2nd week February at latest and SIA shortly afterwards. At least the public consultation is a fixed 8 week period after that but also could always be the odd "disrupter" but even then their views can be rejected by the majority under that consultation. Bit concerned about the final political approval required as you know what politicians are like making their mind sup (well in this country at least).

It is right to criticise JAY for past forecasts for commending Dundas and the licence itself, sorry Rod but some of those video interviews are embarrassing now when you look back at them. But as of now JAY are doing as much as they can and even with this RNS putting pressure on authorities almost through public embarrassment applied to them.

Ultimately I am convinced Dundas will be a viable successful operation and of significant value to share holders versus todays price, but its been a long and well delayed path to get to where we are today!

[dhb368] 30/1/2020 09:16

Let's not forget that not 100% of the population is pro-mining. Anyone that has applied for planning permission could testify to how easy it is for one jobsworth to delay things, ask a question on the last day allowed which starts the clock again etc. I expected things to go slow but the prize is worth it and very likely to be awarded as they need the tax income badly.No doubt in May we will be complaining about how long the political process takes.

[andy] 30/1/2020 09:01

xclusive,


One they can't refuse? :-)


I guess with such a small population they are struggling for people with the relevant technical expertise? Or do they use the Danish government's people, or an independent third party to evaluate these complicated technical documents?

[xclusive2] 30/1/2020 08:59

Don't know where the stalking cane from..lolGood find Mirandaj, let's hope the G authorities take note.

[xclusive2] 30/1/2020 08:58

PC,Don't want any more stalking and maybe this coverage will hit home and some pressure applied. The acid test will be EIS next week with SIA shortly after but if they can't process the minor administration needed then I fear it'll probably be May before 8 week consultation.Much that BBB has stated that this is a shorter timeframe than previous applications, surely something has to be done especially after all the media coverage in 2019. A new decade, a fantastic opportunity for Greenlanders to say we are 100% open for business and to review their application process and resource up to accelerate it.Maybe it's time for Donald to make another visit, maybe put another offer in to the Danes ...lol

[kemismelt] 29/1/2020 20:58

lovewinshatelosses
29Jan20-7261:

What you ask is a confidential opinion that cant be aired on this open forum. If needed, please contact me on kemismelt (at the rate of) yahoo dot com.

[dhb368] 29/1/2020 11:21

Kemismelt - It is my understanding (no expert) that the terms of the exploitation licence will require Dundas Titanium to be separated from Bluejay given what the directors are looking to achieve with the other prospects.

"An exploitation licence regarding mineral resources will, as a main rule, only be granted to limited companies domiciled in Greenland, exclusively carrying out activities under the granted licences and not being taxed together with other companies. It is required that such companies may not be more thinly capitalised than the group of which the company forms part, but the company’s loan capital must always exceed the shareholders’ equity up to a ratio of 2:1."

If someone has a better understanding of the implications of the above, please correct me.

[mirandaj] 29/1/2020 10:20

Further Article with photograph in Greenland newspaper showing continued firm interest in the project, dated 28th by JØRGEN SCHULTZ-NIELSEN .

Translated from Danish:

Dundas project close to EIA breakthrough

The mining company Bluejay Mining is deeply frustrated that it has not yet obtained a permit to extract ilmenite at the abandoned village of Moriusaq near Thule. However, the expectation is that the EIA approval will come in early February.
Last year, 40,000 tonnes of ilmenite-bearing sand samples were shipped via ship to Quebec in Canada, where the ilmenite at a processing plant was to be excreted so that further quality and usability of the ilmenite could be found.

At the same time, Dundas Titanium, which is a subsidiary of Bluejay Mining, has been wrestling with the Greenland authorities to be allowed to embark on an actual extraction, which in the mining context is one of the simplest, as it is about shipping sand from a beach-like flat area.

Extremely frustrating

Bluejay Mining's chief executive, Roderick McIllree, says in a company announcement issued Tuesday:

- In terms of production start, the licensing process has been extremely frustrating. Although we enjoy regular and supportive dialogue with the Greenland authorities, it has been extremely disappointing that it has taken significantly longer to carry out the administrative treatment than what we had been envisaged. Especially considering that only minor changes to our license application are required.

"We hope, however, that the approval process is nearing completion as we have been informed that we should expect a response for EIA in the first week of February," Roderick McIllree writes.

Per Buhl Olsen joins the board

The company also reports that Per Buhl Olsen has been admitted to the board of directors of Dundas Titanium A / S, which must be seen as a consequence of Greenland Venture and the Danish Growth Fund last year deciding to invest in the company.
Ilmenite is a titanium-iron-oxide mineral used to make titanium.

[lovewinshatelosses] 29/1/2020 08:01

What are your current thoughts kemismelt? Do you feel that the deliving of shareholder value, as has been mentioned in the past, is going to materialise here, or not? Just curious, as you are clearly quite knowledgeable in this niche area.