Bluejay Mining Share Discussion Threads

[snowyflake] 14/11/2020 11:48

kemi - you are making mischief. BBB and PC are correct.

[perfect choice] 14/11/2020 11:40

Politics wherever it is is never stable in my view and able to generate surprises. But Greenland is relatively stable at least, be it internal battles like this are to be expected now and again.

So as you post bbb, don't think we have an issue with Kim being re-elected and Erik you say seems fine as well.

In terms of Vivian Motzfeldt, did a general google search and came across this article and interview in 2018 (link below) when Vivian was Minister for Foreign Affairs. Reading through, the tone is in favour of economic development, e.g. she states "It is necessary to focus on ‘the good life’ in the Arctic and sustainable development, because the people inhabiting the Arctic needs economic development."

So as long as the economic development helps to benefit the Greenland people (as Dundas does especially for Qaanaaq) then I don't think we have a problem if Vivian wins the election for Chairmanship of Siumut.

[kemismelt] 14/11/2020 09:41

bbb@8680:

Your post unsettles me! I have been telling my 3 NRI-Groups who are to invest ~US$700m in the Sisimiut Hybrid Smelter that Greenland is politically very stable.

[bigboyblue] 14/11/2020 08:25

Politics.
There's an election later this month for Chairmanship of Siumut, Greenland's largest political party. The current incumbent (and Prime Minister) is Kim Kielsen who we know is broadly supportive of mining and Bluejay.

Kielsen has been embroiled in a domestic row involving a conflict of interest over fishing policy and use of his boat (I won't go into it all) and recently only just survived a no confidence vote. He is being challenged by two other candidates, Vivian Motzfeldt and Erik Jensen.

I can't find much about Motzfeldt except that she is the current speaker of the Parliament and fell out with Kielsen earlier this year. Jensen is the former minister for mineral resources who resigned from the Government a year ago. I posted about it at the time (post 7049) noting that it was rumoured he was 'leaving Naalakersuisut in pursuit of the presidency of Siumut next summer for further development of the resource sector.'

People must come to their own views on politics, but I like the sound of Erik.

[perfect choice] 11/11/2020 22:42

Yes I'm really looking forward to progressing Disko and hope we do get this top tier earn-in partner as anticipated. Shame we will have to wait a year from now (my estimate from drilling starting as soon as possible in 2021 summer season) to get the first drill results, but can blame Covid for that!

[mirandaj] 11/11/2020 20:43

I agree about the error but that is easily done in articles. I thought the quotes to be enlightening and in Greenland, much further down the coast is a licence that Bluejay have which could contain large tonnage of nickel.....

[fuzzydog] 11/11/2020 20:35

"McIllree said the company was two-to-six weeks away from securing a mining licence, which he said would "allow us to really crack on".

That will do for me.

[moreminer] 11/11/2020 19:03

Good value, 127 million tonnes
6,1% nikkel.......
Ah well

[luffness] 11/11/2020 18:35

Shame they couldn't get what will be mined at Dundas correct....

[mirandaj] 11/11/2020 18:27

Good to see the important news picked up by the Mining Journal with some good quotes:

"Rio inks JV on Finland nickel project

Bluejay Mining and Rio Tinto plan to jointly develop the Enonkoski nickel project in Finland.

Under the JV and earn-in agreement announced on Tuesday, Rio can staircase its stake into the Enonkoski project in three stages from 51-75% by spending US$20 million either on the asset or via cash payments to Bluejay by November 2029.

Bluejay's project covers 2,300 hectares and lies 15km along strike from the historic Enonkoski and Halvala mines, previously ran by Finnish state-owned mining company, Outokumpu Oy.

The Enonkoski mine produced 6.7 million tonnes of nickel at an average grade of 0.8% between 1984-1994.

Rod McIllree, CEO of Bluejay Mining, told Mining Journal the potential to find additional material was "very high as [Outokumpu Oy] ceased mining at a 500m depth".

"There are very similar signatures in and around the Enonkoski nickel belt," he said, adding that testing would begin "almost immediately" thanks to the financial leg up from the company's new JV partner.

"It's a testament to the project that we have attracted a blue-chip miner at Enonkoski," McIllree said "We have talked to Rio about all our projects but in the end, they approached us about a deal."

The move marks Rio's first foray into Finland, a country which has been ranked as second most attractive jurisdiction in the world for mining investment in 2019 by the Fraser Institute, behind Western Australia.
McIllree said Bluejay had more deals in the pipeline concerning its other exploration assets in Finland - Hammaslahti, Kelkka and Outokumpu - all of which are located close to historic mines.

"We're talking to several parties on other JVs … of a similar pedigree to Rio," he said.

McIllree says Finland is a favoured destination for mining investment thanks to some big discoveries, security of supply and sovereign risk.

Greenland

Despite the Rio deal, Bluejay is still focused on Greenland, where it is developing its flagship Dundas ilmenite project.
McIllree said the company was two-to-six weeks away from securing a mining licence, which he said would "allow us to really crack on".

The project has a JORC resource of 117 million tonnes at 6.1% nickel, with an additional exploration target of between 20-60 million tonnes at between 6% and 10%.

Having extended its offtake negotiations for Dundas by four weeks, the CEO said Bluejay was "very close to signing an agreement with a very large player that is a conglomerate in the space".

Shares in Bluejay soared after the announcement, reaching a high of 11.1p on Tuesday, before falling to 10.4p mid-morning on Wednesday, valuing the company at £101.4 million."

[davidv] 11/11/2020 16:39

There's definitely something not working right with the trading over there.

[davroc] 11/11/2020 15:44

Struggling to see any trades on BLLYF on OTC. Any suggestions where to look.??

[moreminer] 11/11/2020 15:06

Odd that Hannam has a target of 20p, and share price Angel 27,4p.
I hope however they both are wrong, at we get to see something higher and sooner.

[perfect choice] 11/11/2020 12:37

Broker share price Angel has upgraded its target valuation of Bluejay from 24.7p to 27.4p following the Finland Rio announcement.

Go to and scroll down to the Bluejay article. Interesting to recent some of the background to the former working Enonkoski mine in Finland which closed in 1994 when base metal prices collapsed. Nickel USD/T price back then was around $7000-8000, today's price of Nickel is $15,800. Rio see an opportunity there with JAY on a free carry, until JAY have a 25% share of remaining investment costs after stage 3..

The comment "Enonkoski-style orebodies are made up of large remobilised VMS deposits resulting in a chain of separated metals along a decent strike length" is also significant. So separate ore bodies to mine, as against mining historical mine ore which may have been depleted but the market price now justified further extraction. Drilling will uncover the value of the separate ore bodies.

[lovewinshatelosses] 11/11/2020 11:54

It is going to be interesting to see what our new trading range will be, after the (hopefully) further positive RNS's in the days and weeks ahead.
I would like to trade a few on the side of my main holding, but am still some way short of my first top slice target, which is the point at which I would then consider that side strategy.
Anyway, we all know what assumptions can make of us, so will park that thought for now :) GLA and looking forward to the next RNS!

[erric] 11/11/2020 11:16

Agreed. So much more to be positive about, both at the individual company level and for global demand expectation.

[perfect choice] 11/11/2020 10:37

Yes we need to get used to the possibility of late morning announcements now!

FYI, any earn-in agreement always has no guarantee statements as the earn-in party may not progress through all stages especially if results of drilling do not confirm the prospects - fairly standard for any exploration activity. Also the timeline for a typical exploration to production prospect can be between 10 to 13 years as a natural exploration to production template, so again nothing unusual in yesterdays announcement. Welcome to the world of exploration to some it seems!

Now despite those timelines it doesn't mean value is not realised earlier in terms of company share value. It is worth remembering the lifecycle of a mineral discovery for which the following link is a good example -

The first stage of value is at the discovery stage from drilling results, which is why I am always keen to monitor how close a company is to these. Also consider how far JAY have got with the "pre-discovery" work. So for Disko and Kangerluarsuk they have virtually completed that stage ready for initial drilling. In terms of our Finland nickel prospect there is still work to do at pre-discovery but we are not starting from scratch there as well.

Now all the above has no bearing on Dundas (but does have a bearing on JAY share price) where we are getting really close to improving even further the economics (optimisation work output), the exploitation licence and offtake agreement news. Going to be an exciting 6 weeks for JAY holders IMHO!

[bjlk] 11/11/2020 07:57

Maybe another rns around 1130 as per yesterday in time to filter to the USA??

[luffness] 11/11/2020 07:12

You are a clown - nobody is interested in what you have to say

[kemismelt] 11/11/2020 03:41

bbb@8653:

You talk of 'realising shareholder value' from our embryonic Finland assets when our solely owned, more advanced DUNDAS asset is nedlessly waiting for 'openly indicated mining permit' to proceed with important moves that are needed before FS2021 to save a year on the project's timeline!

Anyway the term-sheet signed for the Finland assets drags the rollout to 2029 with 4 paltry, far spaced payments for only the resource definition stage! I dont think it unlocks any value to LON:JAY for the next decade!

[kemismelt] 11/11/2020 00:13

This term-sheet clearly says 'NO GUARANTEE' that 'RioTintoMining' WILL USE ITS OPTION ACCORDING TO ROLL-OUT. So, we ma not get any money to progress DUNDAS in time! It can drag on like our 'smelting trials'!

[xclusive2] 10/11/2020 18:46

That is good news and hopefully the partnership grows successfully and they'll probably be the acquisitor at some point in the future. Good to see LTHs holdings appreciate.