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Blackfisk - little history on Bravo Mining
Acquired the Luanga project for $1.3m as noted in the IPO prospectus.
Listed in Canada raising c$40.25m (circa $30m USD) valuing company at c$176.50m (circa $132m USD).
Current MC c$338m ($253m USD)
Good to see the buys returning, let's see if we can finish flat or in blue. Still 1hour to buy more
Blackfisk, I believe they can not say something about Negotiation (s) - could be an inside, or the broker tell them to not say nothing. They most have some reason (s) for not say nothing. If I'm not wrong, the news back in June last year they mentioned between 6 and 9 months to finalise the negotiations and possible start mining Q1 -2023.
I think it would have been good to have done an interview when the corporate update was published. If substantive negotiations really are ongoing, why not just say that in an interview?
I really don't understand their mind about Jangada, Bravo come out faster and soon they will be in much better position.
Jangada still low and no progress, (maybe slow as we expect) we even can't understand sometimes that Brian want to say or said to the market. As a result, PI's are selling and the share price is falling recently. We understand that some news it's out of Directors control, but a proper communication it's a key to keep investors buying their shares. Sometimes, I feel that Brian doesn't care about Jangada, He's focus in others Business and Jangada turned into a "plan B" (my opinion) and I can be wrong of course.
Luis could easily absorb Jangada into Bravo Mining. Its share price has doubled over the last year
Sneaker, He's not tell me anything. I believe they are in the final talk for the off take agreement or something.
The last message was by Xmas and New Year time. I sent Him a message about Happy New Year all the best and bla bla bla.
I don't think He will say something to me, if they are in the final stage will be impossible to have something from Him.
I just hope they release something this month. We are tired and frustrated for all this time without a proper communication
Please call Luis, Obelix . Brian is not helping here.
Everything looks great here, they did a good investment in Blencore, but until Brian release something to the Market we will go to nowhere. Unfortunately, people are losing their faith in Jangada and they are selling. Not sure how long this will takes, but annoy all of us for sure.
Looking like a great investment, will we have to monetize it though?
https://mobile.twitter.com/BlencoweRes/status/1630881353402142721
And of course last month there was the Glencore/CSN iron ore offtaker deal
https://www.infomoney.com.br/mercados/csn-mineracao-cmin3-fecha-acordo-de-minerio-de-ferro-com-glencore-com-pre-pagamento-de-us-500-mi-impacto-acao/
US$500 million paid by Glencore for 13 million tonnes
Tombador agreed offtake agreement with a local Brazil steel mill. Shows deals are now being done. Confidence seems much higher this year than in Q4 last year with China reopening and predictions of global growth. Hopefully getting nearer an environment Jangada can “push the button”…
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02635954-6A1137898?access_token=83ff96335c2d45a094df02a206a39ff4
Vanadium been doing well recently which might have caused some to look. I believe it could continue going on
A run to… Suspect though it’s more seems SP seems to have bottomed out.
A while since we saw so much blue, any reason?
Opex for the iron/vanadium aspect is sub $50 a tonne if selling locally. It’s nice and clear in the technical report and that aspect is to feasibility level. If plant was built we’d be producing at good profit.
Price environment is reference not to the iron price on any given day… Price dropped to $80 at one point last year, when the discussions with offtakers would have been ongoing. Do you not think they’d have been concerns then it could have dropped lower? Might also remember IMF last year were projecting recession in most countries. Not great for confidence…
Iron ore price has recovered and back at levels used in economic model. These were again restated in the update RNS. IMF now forecasting better prospects across the globe with growth (apart from UK!).
It’s a matter of confidence.
None of you seem to be asking the question of why it matters to an offtaker… If they were just going to buy iron from us at spot price upon delivery why is the price environment a big deal for them?
It’s only really relevant to them if there’s a financial risk to them.. Only way there is a financial risk to them is if we owe them money/product and we’re unable to pay it back.
It seems clear to me they’re waiting for an environment that offtakers have the confidence to finance our mine build. They pay up front & often years in advance for product to be delivered at later dates. They need the confidence if they advance us say $12m-$15m for the mine build that Jangada will be able to pay that back by producing at time of reasonable iron ore prices. If we were to go bankrupt trying to produce at low iron prices then they lose that advance!
BOD are clearly looking for non-dilutive funding.
Got to find a local offtaker
Exactly! So why are they waiting???
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.