George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Sneakerking, iron ore prices aren't that much lower than a year ago when the sp was 10p
Try to send an email and you will see, I believe many of us tried before and looks we have had the same answer
What’s their to talk about? I’ve seen this with many companies when they say they are looking for a better price environment. The project usually just sits idly by for months or even years. I’d rather they finance and at least generate news. 2m cash in the bank isn’t going to go far.
Has anyone talked to the board since the RNS?
Swizz sold?
Agreed the Tio2 aspect has always felt kept back. The product seems well suited to fodere technology being both higher grade and with less contaminates than the feed material S Africa planning on.
Not sure if delays at fodere have stopped any work for Jangada in this respect. I’m sure if we got advises it’s being investigated/tested etc that it’s be seen very positively by shareholders, although any delays no doubt punished (so maybe just announce when sorted?).
Another piece of the puzzle I feel that will eventually fit into place, but really unable to work out when!
Mesb - frustration of fodere being private with not so readily available information. I’m sure they’re not well known and hopefully when that changes it solicits interest. Only have the few LinkedIn posts, don’t even add these to the website!
As far as I’m aware they’ve 2 projects.
The tiny pilot plant near kitwe in Zambia of 7 tonnes per day. Announced in June last year. I suspect, but am not 100% sure this is the original pilot plant they used to test technology.
https://www.linkedin.com/posts/fodere-group_fodere-titanium-limited-announces-construction-activity-6955639911295156224-ldZ_?utm_source=share&utm_medium=member_ios
The larger plant in Witbank S Africa which fodere reported had environmental impact assessment approval 7mths ago for operation of upto 80k tonnes PA
https://www.linkedin.com/posts/fodere-group_technology-investing-environment-activity-6953261754680270848-8WQq?utm_source=share&utm_medium=member_ios
Also wonder if any progress has been made in N America and what work Stephen Sutcliffe been upto since he joined them 4mths ago
https://www.linkedin.com/posts/fodere-group_its-a-pleasure-to-announce-welcome-mr-stephen-activity-6974207476606902272-XUkl?utm_source=share&utm_medium=member_ios
Dcat, I thought the reason given about not taking the titanium to feasibility was a bit odd and was left feeling whatever process the technical consultants were previously banking on working is no longer viable (financially or practically) one way or another - so the main way the titanium might be exploited now was via Fodere tech. I've felt for a while the interest in Fodere was pretty important here, which is why I've posted quite a bit on them in the last year or so, but it's mildly frustrating that the comments about Fodere in the RNS seem so light - and also not in line with statements by Fodere themselves (i.e. Zambia pilot plant, not South Africa - and much lower than 22,000 tonnes!). Why can't they get this stuff right - I'm just a poxy small shareholder and can tell something doesn't stack up about what's written in the RNS, it's like nobody has reviewed it - there's a multitude of advisers who must know more than us about what's going on and we even have the Fodere chairman on the board. If the 7.7% interest is correct (and I hesitate on that because that disclosure has jumped around like a yo-yo in the last few months), it implies we've recently put a bit more money in during 2022. Good our interest has gone up, but boy it's frustrating how long that pilot plant process is taking.
NOBONES.....
Be careful what you wish for?
If Jan do RNS or start pumping that acquisition I'll post some more detail of the adjacent tenement i.e:
The GUIA (trial mining) permit;
The enviro-licence for operation (LO);
The current owner and their business:
and,
The previous tenant and their business.
One other part as well… The fodere 7tonne per day tiny pilot plant being built near kitwe in Zambia is supposed to be online in Q1 this year.
I’d far rather see economics testing some of our Tio2 product via that. We’ve been a strategic investor with them for a while, me nice of they could test a small sample of pitombieras ore for us.
In summary…
Jangada MC is now £10m. With cash/investments in region of £3m-£4m.
- offtaker talks are progressing.
- there is significant interest in pitombieras
- we’ve at least 1 more project coming soon
- further value should be added on the fodere and Bres front.
We need new eyes/investors that’ll look at above with little patience. I’ve no doubt they’ll be well rewarded if they buy in
Fodere finally making progress. Think most of us know there’s significant potential with them and our ownership value could exceed Jangada current MC. We’ve waited I think almost 3 years for them to finally get going, don’t think they’re understood or even known about outside Jangada holders (significantly anyway).
Expect new deals. This is good, if nothing else it’ll create more newsflow and hopefully solicit more interest. We’re severely lacking new investors with lack of PR/newsflow, be nice for that to change! Luis floated Bravo last year after getting his hands on new project, sure he’s eyes on others although not quite so large!
Another point overlooked is the comment that Pitombieras had solicited significant interest.
Who from? The local offtakers? If so would suggest a deal should occur. If not offtakers than who else and what’s their intentions? Fund mine build, JV & drill larger resource and re-evaluate production method, or perhaps to acquire the project from Jangada and proceed however they want? We don’t know, but it’s first time we’ve received commentary about interest and nomad wouldn’t let them say that unless something behind it.
We’ve had a long time waiting for news with I think all of us being frustrated to varying degrees on the lack of update. As soon as todays RNS was released focus by more than a fair few was on delay. Seems some have been almost blinded by that and not read the positives.
Focus is clearly on a local offtaker. This is good.. The cost of producing 1 tonne of iron ore/vanadium concentrate is sub $30 per tonne. This is set out clearly in the Technical Report, was done to feasibility standard not by Jangada, but by GE21 mining consultants. Anglo use them, Vale use them a whole suite of other mining companies do to.
Logistics are within table 1.8 in Technical report. $10 internal trucking costs to port pecem, $14 port services, $20 shipping to china.
You can all play about with own variations to those costs and the iron & vanadium prices to work out margins at different prices. In short though at $80 iron margin is circa 100% if local offtaker, marginal if exporting to China at $80 iron. Should get vanadium credits on top of either, at lowest vanadium price in recent years that’d be circa $20 per tonne.
Local offtaker would be hugely beneficial. On economics in technical report it’d add significantly to profit, on lower commodity prices enable mine to produce and be profitable. A bid derisk.
I’d be more concerned if they’d said had given up on local offtaker, gone the easy route of agreeing terms with a commodity trader such as glencore where they’d take a commission and they’d be the additional export costs.
BF- have to go into the office on Wednesdays & only just home. Rather manic at the moment trying to close off work items before going on holiday this Saturday. Doubt I’ll be upgrading hotel room after todays SP reaction, but looking forward to a break even more now! Let me have re-read of RNS and pull together previous comments/calculations
It’s on hold, Indefinitely.
Dcat, what do you make of this? It's good that there were negotiations with in-country offtakers right?
Never though I'd say this but keep the updates coming Smalley :)
More informative than BM's and probably only half as damaging to the SP ;)
This one's for you Brian!
https://www.youtube.com/watch?v=oJDGcxAf9D8
I would think the play on graphite is in reference to the recent tenement they acquired from Grb Grafite do Brasil Mineração Ltda (not yet RNSd).
The substance stated on the tenement details is 'Nickel Ore', however as I have previously posted the adjacent tenements target substance is 'Quartzite', a rock in which graphite is commonly found.
Unfortunately the market didn’t see it that way. With a recession looming Pitombeiras can be on hold for a year.
Interesting update today. Seems Pitombeiras is effectively "on hold" until market conditions improve. However, it does seem that they are in the process of another project acquisition (presumably at a good price) and so we can expect more news soon. Hold or add more IMO.
Valore!
Certainly not going too well for targets Esbarro, Cedro and Curiu.
Luis is peddling hard for a 36 month extension but ANM are wanting more detailed FER and asking if the intend to proceed with the GUIA (trial mining request). That's the GUIA that Jan didn't mention?
60 notice issued today!
All sounds very familiar, just like Jamgamba really
See page 102:
https://www.jusbrasil.com.br/diarios/DOU/2023/01/23/Secao-1
Agreed! I miss the Valore announcements personally.
Maybe they could throw in an update on Pedra Branca for old times sake :)
If they’re going to stick to investment news then at least mix it up and hear on fodere. Their Zambia pilot plant is supposed to be in production this quarter and ideally news on S Africa to..