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Good to see Bres news today landing just when the jabgada book was set for big move.
I’m less concerned by the Bres day to day share movement. To me 2 entities buying bulk stock at 5p without options means there is likely options for Jangada to reduce their if funds require, especially as can throw in warrants of necessary. It reduces the liklihood of a forced poor placing..
Guess no one was going to help sneakerking out on usual cost of a tio2 plant…
The capex for a std tio2 plant capable of producing 80k tonne per annum of tio2 is circa $750m. That requires feedstock of a minimum of 40% tio2.
Within the latest RNS under further information you’ll see the fodere Witibank stage 1 plant will cost circa $75m, is to be fully funded by Africa development bank and will produce circa 32k tonne tio2 (plus other commodities). That’s using the 32% tio2 content feedstock a std plant can’t manage.
Simple maths for you…
If the fodere plant was using 40% feedstock not 32% it’d produce 40ktpa tio2.
2 x fodere plants at $75m each would cost $150m. That’s a $600m saving to a standard plant.
Can you understand the commercial implications of $600m capex savings on a plant? How much would a company wanting to build a tio2 plant pay to use tech which would save them $600m? $100m, maybe $200m?
That’s just a quick and simple way to demonstrate the potential of fodere disruptive tech.. Plus Jangada own the licensing rights for the whole of S America…
The investment in fodere should prove to be very worth while for Jangada, before even considering implications on pitombieras. It’s just a damn shame fodere are taking their time over getting a plant over the line!!!!
Interesting article and good to put Jangada in the context of other names. For me, the Jangada £ opportunity is understated and the Fodere tech could do with more explanation. That said, clearer management guidance on milestones needed to make the narrative more exciting.
Https://total-market-solutions.com/2023/12/20-mining-companies-for-2024-part-ii-g-z/
Obone - there has been a seller over last few sessions. Every day selling below the bid and chasing it lower. It puts off buyers. I suspect the 400k sell was same person. Until that style of selling stops I’m largely switching off. Hopefully they’ll be out soon or at least have got the money they need for whatever reason.
Sneakerking - We’ve been through your case about should have kept Valore shares Months ago. If not sold they’d have been multiple placings at Jangada by now and the value of the combined Valore stake would be less than half the value it was sold for by Jangada!
The investments in fodere and bres will definitely produce higher returns, very little doubt about that. I bet you haven’t even calculated the revenue fodere are expecting at stage 1 and stage 2 from the last RNS. Or calculated how much cheaper capex is required building a fodere plant to a standard tio2 plant!
The issue is very much comms and them not having completed on a new acquisition which has been mentioned numerous times. We’ve desperately needed something to work on and produce newsflow, SP is where it is without that happening or any proper disclosed plan. It’s no reflection of the fundamentals.
Again I’ll say to you we’re all frustrated and annoyed, but at least get the facts right and understand what Jangada have and the potential.
The sad part is McMaster could have let half of his stake ride in ValOre metals , which had its uranium property bought by latitude uranium, and subsequently latitude will now be merged with Atha Energy, a uranium powerhouse in the sector. He, and shareholders lost out on so much alpha due to his shortsighted thinking. Latitude is currently at $50m market cap and will be sold at $70m market cap once the merger with Atha is complete in March. Also ValOre is enjoying drilling success at Pedra Branca and still has $10m market cap. Instead he invested in other companies and has done nothing at Pitombeiras for a good year and a half.
The 16:29 marked as a sale is my buy @1.39p.
I don't have L2 anymore and I'm a bit perturbed to see a 481k volume sale at 1.3p just before .
Whats going on...or not going on ?
The lack of any communication is maddening.
Clarification on my last post. Having reread this RNS a couple of times. The 25te sample is for Fodere's precommercial plant.... not expected to be available until mid 2024, so fully understand why the 25Te sample hasn't been shipped.
Still lots of potential but moved out towards H2 of 2024 (assuming we are one of the first test runs scheduled on this pilot plant).
Things are progressing with Fodere.
Great numbers from them too in terms of mineral recoveries so the line "With the Exclusive rights to South America" might end up being the real value in Jangada.... far more than Pitoembieras.
That said, is the 25Te sample waiting to ship a new sample? Disappointed if this turns out to be the same one announced so many months ago.
Cheer up :) I'm invested as of Day 1 from the IPO!
Seen it up to 10p and down to 1p.
Happy to hold and see how it plays out.
I started investing in JAN in 2020 real terms taking into account inflation i am 76% down so i can beat you there!
Great. I hope I can recover from my 50% downside.
Excuse for a small top up for me today ;)
What’s todays excuse? Where is the CEO?
Plunder, I don’t think you get me at all or have even looked at Jan in any detail. A quick glance through my posting or the very few recent RNS would have shown you it’s not FID expected next at Jan. Capex is also very manageable and an IRR of 100% and npv to capex ratio of 5 gives plenty of scope to rework numbers.
Capex inflation will affect all projects in some way or another, variants on split between plant and infrastructure spends etc. personally wouldn’t touch the more marginal development companies as a 20%-30% IRR and NPV to capex ratio circa 1 just doesn’t have enough in it to greed existing holders and financiers, whether expected or god forbid capex overruns.
Other free advise is you really need a strong local team involved in Brazil. Fortunately we have Luis who is certainly one of not the best person we could hope for.
There was more to the UFO move than just Ironore price.
Both have pros and cons, I’ve switched from majority UFO to now majority JAN. r/r right now favours Jan IMO.
Dcat80 I get your frustration as you expect UFO to pass FID stage before Jangada who have been stuck there for a good while, however I wonder if these guys aren't taking their time for real business reasons as I know two companies who got caught out by inflation and rising energy costs during construction and they're in big trouble as they're insolvent while their mines are only half built and they are likely to get swallowed up by majors after administration and equity wipeouts, so this pause in progress might actually be tactical.
SP is frustrating. UFO has bounced 100% from lows on improving iron ore price, yet Jan not really moved…
Brian and Luis previously financed and built mine at Avanco with Appian capital, blackrock and glencore all involved with eventual buy out by Oz minerals. Similar economics with 94% IRR and NPV to capex ratio of 5:1 all in poor copper market.
Luis recently bought asset for bravo for $1.3m before floating it for over $150m
(Retaining over a 50% stake himself…). Not seen anyone else manage something like that & definitely the in country director we want!
We need to see progress and improvement in comms from Brian. Be nice if during this quiet period he’d taken a college course on communications 😂
I increased my holding today based on our 8.5% BRES progress.
Mind you, I am deeply under water and hope to see some SP recovery here !
I’m sure we’re all hoping you got the lows and pretty confident you’ve one of the better averages. Assets are very exciting, just needs to wake up!
Got what I wanted last week. Slightly above my target price. All prepared to wait for delivery.
Good luck 👍
First time I’ve seen an iron ore offtake with a junior for a very long time.
Hopefully sign market is improving along with the recent iron price surge 🤞🤞
https://themarketherald.com.au/fenix-inks-wa-iron-ore-offtake-deal-with-privately-held-10m-2023-11-20/
Been unfortunate in some other holdings where I’ve waited too long to increase at the lower levels. Selfishly I hope it doesn’t happen again here. But, what will be will be. GL
Thanks for sharing your knowledge here Dcat.