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GROC has retained Amitsoq and TBS.
What assets do GreenRoc have now..
Below was the assets IPO time.. Melville Bay Iron Project relinquished.
What happened to Inglefield Multi-Element project.
Has Thule Black Sands Ilmenite licence expired.
GreenRoc’s assets include the Thule Black Sands ilmenite project, the Amitsoq graphite project (considered one of the highest-grade graphitic carbon projects in the world), the Melville Bay iron project and the Inglefield multi-element project.
Catching up with the Bluejay story:
in their RNS of 06/02/24, they announced having dismissed their VP of Exploration who had set up a competing business intended to operate in Greenland and which had secured exploration licenses surrounding JAY's ilmenite resource, Dundas.
It looks as if prospects for TBS may be brighter than developments at JAY had originally led one to believe.
Suggestion on bluejay board of Thule black sands being an acquisition target for them
New material Scientists have created, 1 atom thick gold on graphene many use for this material apparently
We just need to get it out of the ground commercially quickly
Was hoping we would have a gigafactory in the Uk but those dreams of us supplying our graphite also dashed with recent news
Gotta come good sooner or later
GLAGLTH
... The assertions made by former management that 1.5 months of inefficient and ineffective exploration in 2022 is more representative than the cumulative three-year work stream preceding it is fraught with problems. As such the Company is reviewing suitable courses of action to retrieve the effectively wasted shareholder capital from those responsible.
On a brighter note, we are very pleased that consensus exists to re-instate the 2019 Mineral Resource Estimate. The Company is taking steps to finalize this process, which has begun with a low-cost review of limited sample material available from the 2022 campaign. As Dundas is fully permitted, with a valid mining license, we will continue to review critical aspects of the project, as well as potential value adding acquisitions within the country."
Https://www.londonstockexchange.com/news-article/JAY/dundas-ilmenite-resource-update/16424275
Bluejay Mining plc ('Bluejay' or the 'Company'), the AIM, FSE listed and Pink-Market traded exploration and development company with projects in Greenland and Finland, is pleased to provide an update on the Company's 100% owned Dundas Ilmenite Project ('Dundas' or the 'Project') located in North-West Greenland.
Following an in depth assessment of deficiencies in the 2022 work programs at Dundas, alongside consultations with various independent consultants, the Company has determined that there is sufficient evidence to warrant the reinstatement of the 2019 Mineral Resource Estimate (MRE) at the Dundas Ilmenite Project. After joining the Company in late December 2023, significant concerns were raised by the new management team regarding the accuracy and representativeness of the 2023 MRE. This decision to reinstate the 2019 MRE reflects the Company's well-informed position that the downgrade in the 2023 MRE was the result of multiple factors, including the use of unsuitable drilling methods, and questionable decision-making.
Bluejay reaffirms its commitment to transparency and integrity with its shareholders and will continue to prioritize clear communication, accountability and ethical conduct. The Company is also considering its legal options concerning individuals involved in the 2023 resource estimation process, including former members of management.
Having said that, the offer has just been raised to 0.075p, widening the published spread again.
Robbie2017,
Don't know for sure but am hoping the churn is approaching its end and that the closing of the published spread will allow the share to establish a base from which to recover.
Ocelot, do you suspect the spread dropping to a realistic level indicates the excess shares have finally been absorbed? GLA
Yes mate, but it's a mining junior listed on AIM that had a market capitalisation similar to ALBA's even when in production (due to mine issues and debt). The point is, MTL developed and built the mine and ALBA inherited an actual producing Gold Mine that is already built with all necessary infrastructure in place to get rock out of a hole and into a truck for processing.
It's been a disaster from GF and his ever revolving management team. Good luck here anyway, I want it to succeed because a lot of people have been 'trapped' in here for so long being financially abused by a serial incompetent. At least some Bats and Otters have a nice place to live courtesy of persistent share dilution.
Gold 'might' be produced at some point, I and many others will only trade this and get out on spikes because holding and 'averaging down' is financial suicide on AIM, particulary in miners(sp) and oil and gas companies.
All the best
Tygra - thanks for the response. As we can see a big difference between a miner/ producer of gold and an "explorer" if that's what ALBA is. We are definitely not a producer or miner.
Jsp123
'Asllankukeli which gold juniors have risen recently?'
MTL has doubled in 2024 and is up circa 300% over the past year. The key is it produces GOLD and therefore can be classed as a Mining Company and not a Dilutive Lifestyle Company (ALBA).
It focussed on paying down its debt that was used to get the mine working correctly ($130 million at high interest so nigh on $180 million paid back), and is now debt free and actually selling Gold and buying up other projects to develop.
ALBA have spent well over 5 years trying to get a single gram of saleable Gold out of an actually built Gold Mine that only stopped producing in 1998(ish) because the price of Gold was below the costs to extract and sell it ($300 per ounce).
This mismanagement is appalling, and the fact that a tailings pile that would be so easy to process into saleable Gold has sat there for eons, is typical of GF and his cohorts who prefer rinsing shareholders instead.
Full scale underground mines have been explored, planned, dug, built and put into production by many companies all across the world in the time it has taken GF to relocate some otters from an already BUILT and excavated Gold Mine in a 'supposedly' developed country.
You never know, maybe an actual Mining Company will buy it for a quid and have it up and running before the wind erodes all the Gold in the tailings pile.
At last the offer price has dropped to 0.07p so that the published spread reflects the true spread.
The point stands though :)
A pleasant surprise RNS . If it reduces the need for the customary multiple raises at discounted prices then that a most welcome change from the AIM modus operandi. I can't help thinking the large chunk owned by Alba will drive more sensible financing decision as they won't want to dilute that holding. Encouraging
Congratulations, SB and Greenroc!
GreenRoc's CEO, Stefan Bernstein, commented:
"This LOI from US EXIM Bank represents a strong show of support for our Amitsoq project from one of the key financing bodies of the US Government involved in the roll-out of loans and other funding support under the US Inflation Reduction Act to entities, like Greenroc, which are developing projects which will deliver critical raw materials to Western economies. A successful application for up to US$3.5m of funding would allow us to undertake extensive and costly parts of our work programme over the coming couple of years and to achieve important milestones such as the PFS and DFS and the processing of large bulk samples of graphite ore, all of which are critical paths to production. As such, we expect to proceed with an application to US EXIM Bank in the near future.
"With the US Inflation Reduction Act's rules of origin in relation to graphite set to be implemented in the near future, we expect to see increased interest from US industries in securing friendly sources of graphite, and so this LOI from US EXIM Bank is timely."
Because we produce no gold yes, but more to the point, each time the share price rises our CEO issues new shares to his pals which smashes the market cap by 10 times more than he raises. I am appalled by the way we private investors have been treated and this quite rightly deters new investors. Until he learns how to run a *listed company* we ain't going nowhere.
Kavando
sol gold
golden metal resources
They not up a huge amount but up none the less.
just to name a few.
Why we stuck at all time lows. Not being a producer is a factor but there is lots more to it....
There are so many non producers out there that have the chart going upwards
Times, Business, pp48-49 - 2 quotes:
"The problem of weak valuations is behind C4X's decision to take the company private at a meeting on Monday. Clive Dix, its chief executive , said: 'We believe we should be valued at 5 times, if not 10 times what we are and therefore raising money at 10 times the value would be much simpler. I don't think it's to do with the quality of the companies and the science. I just think that the environment, it doesn't work. There's no liquidity" ...
"Gervais Williams, head of equities at Premier Miton Investors, a long-term proponent of smaller listed companies, said ... 'The UK is cheap, but small caps are disgustingly, absurdly cheap' ... Nevertheless, he reckons a broad rally in UK-listed shares is coming, with the FTSE 100 index flirting with a record high. This, he believes, will result in a 'positive virtuous spiral' that will boost smaller listed companies. 'I'm more bullish now than I've been for 30 years".
Asllankukeli which gold juniors have risen recently?
Because its produced zero gold .............. 0oz=£0