Bluejay Mining Share Discussion Threads

[kemismelt] 24/11/2020 04:42

CYCLONE NIVAR IS APPROACHING MY PLACE!
Expect landfall @18:30hrs today with heavy rain and wind speeds >100km/hr. Please pray for me.

[perfect choice] 23/11/2020 21:42

Thanks for that link bbb (post 8787). Looking at the most recent Tanbreez IBA you get to appreciate the specific level of detail required e.g. appendix 3 specific numbers for apprenticeships, internships and management level workers. Clear focus on investing in the Greenland people as you would expect with a 90% operational resourcing requirement.

That share price Angel flash note was also interesting and shows the robust nature of the ilmenite market right now with tightening market conditions pushing prices higher indicating the ideal timing for the introduction of volume Ilmenite supply from Dundas in 2023 (small chance start in 2022 IMHO). Think H&M need to update their financial model in their publications as the price now for Dundas equivalent grade is showing well above their own modelling (FY20E $189.6). Also remember not all ilmenite of the same TiO2 grade is the same in value to the customer. The homogenous nature of Dundas Ilmenite with low by-products, low slime content, etc makes it particularly attractive over other sources of supply for the same grade, as the pending partners and their end customers know from samples sent over past 2 years now. We will soon see the benefit of that with the expected offtake agreements.

Definitely liked that ERMA announcement today and as highlighted in that share price Angel note, the link to JAY is about Finland as much as Greenland. The comment about another financing source is also interesting, matches previous comments made before about EU based financing being one source of several available. So yes johnveals this is shaping up nicely for JAY.

[snowyflake] 23/11/2020 21:10

John Veals - I found today's announcement very encouraging. I am hoping that my cynicism will be alleviated in the nearish future.

For those interested on 4th September Mirandaj posted (post 8138) the EU update of Critical Raw Minerals released by the EU on 3rd September 2020.

[johnveals] 23/11/2020 20:13

This is shaping up nicely for a win-win between Greenland, Jay and their shareholders.

[bigboyblue] 23/11/2020 18:33

It seems Greenland really is making efforts to improve its home grown expertise on mining:

[bigboyblue] 23/11/2020 12:26

Bluejay Mining* (AIM:JAY) 10.95p, Mkt cap £106m – Bluejay joins ERMA as interest develops in Finland licenses

BUY - Valuation 27.4p (Bluejay Mining holds 100% stakes in all its mineral licenses)

Bluejay Mining reports the company has joined the ERMA (European Raw Materials Alliance).

ERMA was launched by the European Commission as part of its outlined Action Plan on Critical Raw Materials.

The alliance has been formed to help Europe diversify and strengthen supply chains and decrease dependency on other countries, namely China.

The group also intends to reduce the reliance on critical raw materials by securing access to sustainable raw materials.

Bluejay has been selected as a founding member of ERMA due to its strategic license holdings in Finland and Greenland and its proactive management who have experience with the licensing and potential development of certain critical raw materials.

Bluejay’s Dundas mine is the highest-grade titanium mineral sands project in the world.

Titanium is listed as a Critical Raw Material by the EC in their 2020 list.

Bluejay’s licenses over the old Hammaslahti, Enonkoski copper, nickel mines and around the historic Outukumpu mine are of significant interest and potential strategic importance within the EU.

Rio Tinto recently took an option to form a joint venture agreement with Bluejay over Enonkoski project and may acquire a 75% interest in Enonkoski through $20m worth of expenditure.

Rios also plan to run a 5,000t smelter test on Dundas ilmenite concentrate at their furnaces in Canada early next year. We believe the Dundas ilmenite concentrate is very similar to that produced in Rio’s local mines in Canada and may prove to be a suitable source for future material.

Titanium mineral sand (Ilmenite) market: Participants at the recent TZMI congress are forecasting supply/demand gap as mine interruptions struggle to meet demand.

Ilmenite prices have risen to US$240/t from $200/t this year for 47-49% TiO2 cif China. The consistent rise in prices through the year is due to ongoing firm demand for pigments and titanium dioxide and delays to the mining of new sources of supply by some producers.

Producers now expect stronger demand for ilmenite than the 3% fall previously predicted for 2020 due to a faster than expected return to the growth.

Slower mine production and a lack of new projects is now forecast to create a significant deficit in the market from 2025 though Iluka, the world’s largest ilmenite producer, expects inventory build to unwind next year.

Conclusion: Bluejay’s founder membership of ERMA highlights the strategic significance of the company’s projects and licenses in Finland and Greenland.

Membership of the ERMA may also provide a route to the project financing of the Dundas project at advantageous interest rates with development finance.

*SP Angel act Nomad and broker to Bluejay. The analyst has previously visited the Hammaslahti, Enonkoski and Outukumpu mines in Finland as well as Bluejay’s Dundas mine site in Greenland.

[snowyflake] 23/11/2020 11:09

Thank you BBB. This dovetails with the Mineral Resources Act which you kindly sourced and for which squiresquire has inserted a link in the header above. I will get my hour/day glass out again.

[bigboyblue] 23/11/2020 10:36

Agree re Rio snowy and I hope their interest will resume with the smelter test in due course.

There is no set period for the white book, but the whole process culminates in the drafting of an Impact Benefit Agreement which is agreed to coincide with the licence. If you scroll down to the bottom of this page you can see the four most recent IBAs.

The IBA comes in two parts, the first of which is non negotiable and seems to be pretty much generic. The content hasn't changed much over the years and I think it's safe to assume ours will be almost exactly the same as that for Tanbreez, agreed recently.

It's worth opening the Tanbreez document to see what it contains. I don't claim to have read every word, but you can see the wording used for example at article 11 and article 13 which cover topics which we have discussed on this board.

The second part consists of the Appendices and that is specific to us ie our mine, targets for Greenland workers, etc.

I believe we are waiting for this document to be signed off before our licence is awarded. All my interpretation of course, DYOR etc etc.

[shutittrev] 23/11/2020 10:31

Hi B(n x nsquared)
Thanks for clearing the pampas comment up. I've got mine on at the moment given this mornings performance by RBD. Just saying.

[snowyflake] 23/11/2020 09:53

One of the things which I find interesting from today's announcement is that last year J S Jacques of Rio Tinto was releasing comments about Rio's move towards Rio's desired greater care for the environment.

Rio produced one Climate Change Report and then in February this year a second Climate Change Report. If one studies comments made by J S Jacques and Simon Thompson at Rio's AGM this year one finds comments by both referring to a low carbon economy and matters green. The comments are found in type (as well as audio) on Rio's website.

In my view Rio Tinto may welcome Bluejay's participation in ERMA. I guessed in late September that because of demands by Musk's Tesla for access to battery related minerals that there could be a targetted use for Disko and JAY's Finnish assets and my personal view is that whatever may be behind the announced Dundas MoU, Rio has not washed its hands of Dundas in connection with which it will be interesting to see what conditions are imposed as and when and if we get an exploitation permit.

That brings me to how far are we in to the white book period - perhaps someone more knowledgeable than me could assist on that point since having been interested in Jay for nigh on 5 years my brain has become fuddled with the passage of time and delays.

[luffness] 23/11/2020 09:36

Didn't see Alba on the list LOL

[bigboyblue] 23/11/2020 09:32

I see that Bluejay, Dundas, Disko and FinnAust Mining Finland are all listed individually as members. Important to recognise that the 3 companies currently owned by JAY will have different paths (and possibly different ownership?) in the future.

[mirabeau] 23/11/2020 07:29

The licence to mine is a fait accompli. Becoming a member of ERMA opens up investment channels and encourages security of supply by removing bottlenecks to supply and investment. This is significant news

[mirandaj] 23/11/2020 07:20

Bluejay Mining joins the European Raw Materials Alliance

[luffness] 23/11/2020 07:14

Presumably for the offspring of swingers..

[luffness] 23/11/2020 07:13

Heard of bamboo underwear but Pampas grass is new one for me

[mirabeau] 23/11/2020 07:03

Very interesting

[bigboyblue] 23/11/2020 06:36

Just realised, he might have known what I was on about if I'd spelt it correctly. Doh!

Talking of funding, I see that trading in GGG shares has been suspended pending an announcement about a capital raise later this week. It may be interesting to see how much and where their money is coming from.

[lovewinshatelosses] 23/11/2020 06:31

Pampers, eh? Such branded luxury - how the other half live!
At times with JAY it has felt like some old newspaper will have to suffice in one's dotage. I'm not counting on pampers just yet, but a licence and a half decent funding agreement might help those heady dreams you have given me to become a reality....
GLA and let's hope for some pre-Christmas cheer!

[kemismelt] 23/11/2020 02:53

SEQUEL TO MY POST 8733 ON A 1m STERLING TAX CLAIM ON LON:JAY :-

Its cool to brush this issue under the carpet, for now. These government claims once initiated, dont go away that easy. This festering sore needs a FIRST-AID operation to avoid a cancer that can cause a serious dent in LON:JAY's shareholder value! Imagine how many months it will take DUNDAS TITANIUM A/S to earn an after-tax profit of 1m sterling and LON:JAY has no other profit centre within view!

[monts12] 23/11/2020 00:58

Well I’m hoping JAY will deliver some value before we’re all sitting around in ignorant bliss sporting pampers ultra attire, or worse still 6 foot under!

[bigboyblue] 22/11/2020 23:03

Many moons ago we were awaiting exciting news (it didn't arrive). I recommended keeping a spare set of underware as a precaution against possible overexcitment. You said you preferred Pampas Ultra......

Edit: found it! 5019 and 5020

[perfect choice] 22/11/2020 17:21

Agree with you order of probability there bbb namely 2,3,1. The authorities will take there time to firm up all the detail they want to see, like the example I've previously mentioned myself. Now in the case of the primary off take partner, it's a case of whether the commitment to the off take agreement is linked to the exploitation licence or not. I've seen opinions expressed both ways and I don't have a firm view myself right now either way so will see how things actually happen.

In terms of market price reaction, considering the time its taken us to get to the verge of the exploitation licence, I'm sure finally achieving it will a positive reaction with such a major milestone achieved. But the real value will be the announcement of the first off take agreement as the route to commercialisation. Noting current Ilmenite market trends, Dundas is going to come on stream with volume supply at just the right time in late 2022 (volume in 2023) and there will be players wanting to secure that supply now. Economics look good and will improve further with the cost optimisation once published.

Noted comments on previous JAY pricing and where we have come from. Just as a marker I made a note of the JAY sell bid price at the end of the last financial year. It was 3.55p. Now that was at the depth of the pandemic stock market drop, but shows that JAY is already 300% above such low points. If you managed to buy shares back then you've done very well. Appreciate others purchased stock at much higher prices, even at today's price, but very confident just rewards will come in due course.

That's enough from me for now, few other posts I could have covered but I have things to do, so TTFN