Bluejay Mining Share Discussion Threads

[philparkes] 06/9/2017 12:44

superg1
6 Sep '17 - 10:25 - 1692 of 1711 0 2
NO you made things up Astral going on about how high risk it is when you are pumping this to over £150 mill M/C.

Tough now as I'll park here and research it to death.


HAHAHAHA Graham I see you haven't changed your deluded, self centred attitude.
Don't you see what a hypocrite and loser you are?

[astralvision] 06/9/2017 12:30

probably been posted before, but not a bad reminder




Big Beasts at Bluejay - (JAY)
12/6/2017 (119264)

Big Beasts at Bluejay

Not a walrus in sight apparently when Bluejay Mining (JAY) completed the survey to make sure it would not inconvenience the wildlife when picking up ilmenite on the beaches of north western Greenland � but big beasts galore as the company completed a bumper share placing and fund-raising last week.

The formal notifications should start to appear after Thursday�s settlement, but watch out for top class names as 3% plus shareholders as the institutions who scrambled for the stock go through the process. UK unit trust giant M & G is likely to appear with 10% or so of the company, while US Capital Group (assets under management approaching $1.5trn) will be there, along with Legal & General, Hadron, Man Group and others.

Bluejay could have shifted over �50m of shares as long-standing Aussie shareholder Western Areas placed out all 138m of its holding, while Bluejay raised �3.5m gross of new money and people in the company tossed in a further 5m shares � all at 12p. (Note � as ever, chief executive Rod McIllree did not part with a single share.)

Make no mistake. There was no lack of demand, and it seems that, looking over a shoulder at a possible major interested player, the company moved smartly to disperse the Western stake among key investors who would take a long-term view. Western had been looking to realise cash for a while, worrying about a loss-making mine in Australia, and will be able to report for the year to June 30 with a decent profit, instead of a large loss, thanks to the money it has made by taking profits on the Bluejay stake.

It all works rather well. Bluejay has expanded a quality base of shareholders who understand the business and raised what, by Bluejay standards, is a substantial extra slug of working capital at very modest overall dilution. The new money will speed the pace of exploiting the remarkable, record grade deposit of ilmenite in Greenland, with cash to add personnel and equipment, and negotiate from a position of relative financial strength as Bluejay delivers a bulk sample and ties up deals with potential partners to shift product.

While the share price settles after running from around 13p to touch 16.5p as the placing negotiations were finalised, the market should recognise the quality of the new shareholder support. There could be buying from some of the new investors, impressed at what they have seen.

The whole Pituffik development process will be moving ahead in the next few months as the weather window opens up and full-time working on site can get under way. The company has a clear path set out, and while the full extent of the potential Pituffik bonanza is not yet fully appreciated in the market, Bluejay will rapidly be adding value.

This is not empty dreaming. There appear to be no great environmental barriers, and the Greenland government must be happy to have such a substantial and relatively benign project under way. Remember, this is low tech stuff, no need to build a mine or to use large quantities of unwelcome chemicals � just a plan to drill to establish the depth and location of the resource, and machines to dig it up, filter it, and load it onto ships.

While the conventional JORC resource statement covers only a small area of the licence so far, there is clearly a massive resource. That is confirmed beyond question by the recent study undertaken by the Geological Survey of Denmark and Greenland which estimates that 10 billion tonnes of ilmenite (note � actual ilmenite, not material containing ilmenite) exist in the original rock with up to 7bn tonnes of eroded ilmenite in the region. It is estimated that perhaps 1bn tonnes of this ilmenite is within the Bluejay licence.

Bluejay is pushing ahead with an eye on initial commercial production in 2018. House broker S P Angel, citing a share price target of 22p a few weeks ago, was talking about the ability to mine 100,000 tonnes of ilmenite in a matter of weeks when it gets going. On a conservative basis, the potential profit margin is maybe $60 a tonne. It could be significantly higher, but even the low figure would mean profits of $6m. It is probable that production could be raised, with the resulting cash flow perhaps spurring a change in financing which could raise margins. There are also signs that the ilmenite price could be rising.

The new institutional investors could well have done sums which suggest production of 250,000 tonnes and then 500,000 tonnes two or three years further down the line. Such figures might mean profits of $15m and then $30m a year, with the capacity for yet more expansion over the horizon.

These, of course, are highly speculative projections. They assume that the Greenland government and environmentalists will continue to smile on Pituffik, and that the ilmenite price remains at least steady. The chances of one of the majors taking Bluejay out before we get to really big figures are strong. Go back to my report �Jay Talking� of April 14, where chief executive Rod McIllree is speculating that Pituffik has maybe 500,000 to 700,000m tonnes of ilmenite. That, he speculates, could be worth $1 to $3 a tonne in the ground � equivalent then to maybe 55p a share or 75p a share. It is pretty certain that there is 1bn tonnes on the Bluejay licence after the GEUS survey.

Maybe the shares will not get that far, though it looks pretty clear that Bluejay could create the capacity to produce, say, 1m tonnes a year almost indefinitely (notional $60m profit).

The shares eased to 14.75p as I write, but are up from the 6p to 7p region since first recommended here. At 15p, the market capitalisation would be �115m. If you are ready to gamble on any share, this really is the one. It could still have a long way to go.

I have a holding in Bluejay.

Ends

[philparkes] 06/9/2017 12:21

ok Graham, this is what you posted on your precious thread in 2013

The IOF share price was around £2 giving it a market cap of what £300m?

superg1 20 Apr '13 - 08:21 - 21026 of 26286 0 0
Sky

"I don't push IOF to friends, they hear about it, and those that come and ask I tell. All that take the time to listen buy.

If I felt the need to push it, at least one or 2 of my close friends know some very wealthy multi m guys who convene in a local ale house. I know some myself, but have never felt the need to go on a sales pitch re IOF, unlike many other threads or investors

They have their millions, it's time for some PI's down the chain to play catch up.

Good businesses don't need advertising, word of mouth is the best recommendation.

I did wonder why IOF doesn't seem to get tipped anywhere. The reason of being such a good prospect, explains that.

It gets mentioned and tipped in small circles, and they are filling their boots.

The business should do all the talking as we move through H2"

So how much cash and revenue did Iofina have at that point Graham?
I ask because you have posted on this thread (1682) wrt JAY:

"...It's a fair questions when you have some suggesting this will sail through a £150 mill M/C at such an early stage with limited cash and no revenue."

Answer please Graham, never mind about what a nice guy I am....how much cash and revenue did Iofina have at that point?
And you were still pumping it to high heaven!

[longrod] 06/9/2017 12:15

Post some of his emails presto?

Would be worth seeing what you mean?

Thanks

[superg1] 06/9/2017 12:14

Phil

Lovely what a great guy you are.

[snowyflake] 06/9/2017 12:08

Now now no bad language or I will have a word with kim un jong

[airs999] 06/9/2017 12:07

Lol SuperG (aka mr extremely unpopular) I think you need to take a superg run down a steep mountain face, perhaps Greenland and crash head first into a pile of thick, gritty black sand. Lets talk early next year when we're at 50p

[philparkes] 06/9/2017 11:30

By the way you used to tell people who challenged your megalomaniac attitude to open their own thread as yours was exclusively for "researchers" who agreed with you.

Why don't you take your own advice here you low life?

[moreminer] 06/9/2017 10:53

super,

your statement;
"Tough now as I'll park here and research it to death."

Better start then!
Until now you have not proven to have read any of the documentation.
Ice problems? No, they will just pile ste stuff up.
Really don't make a fool of your self anymore.

So or you are daft and should stop investing, or you have a personal agenda like the Richies and Jackies.
Either way I wish you the best of luck, in space!
MM

[birotop] 06/9/2017 10:43

Not sure he can read - it all seems to be youtube vids.....

[presto77] 06/9/2017 10:42

Read the research

[birotop] 06/9/2017 10:38

Looks like we are in for a day of prolonged numpty observations.....you got to laugh.

[astralvision] 06/9/2017 10:28

Do what you want SG, no skin off my nose and it won't make any difference to anything.

[airs999] 06/9/2017 10:26

Top up time before this shoots back up past 20p

[superg1] 06/9/2017 10:25

NO you made things up Astral going on about how high risk it is when you are pumping this to over £150 mill M/C.

Tough now as I'll park here and research it to death.

[superg1] 06/9/2017 10:23

Here is a better video of the area showing the easy access.



Now who is the guy saying how easy it is that and repeating it.

The guy in the this video makes more sense.

[pranchalee] 06/9/2017 10:22

844k was a sell

[astralvision] 06/9/2017 10:20

Pathetic, SG1.Hardly worth replying to.Seems I hit a nerve with some of my VRS questions. Oh dear, you're just showing yourself up, it's embarrassing really.