Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Some good news obviously has been logged in one would think
Buy of 200k at full ask suggests something might be brewing
Dropped from 11p down to 3/4p area and fundamentally the company is stronger than ever with £3m+ cash in bank
I suspect DFS completion is imminent... Or maybe asset sale?... Or maybe Offtake deal signed?
Any of the above and it'll likely multibag
Watch this space
Reason there is little available is because over the last couple weeks there’s been lot more buys than sells. If that continues we’ll get the outsized movements as mms.
Be nice to get to higher base before news lands, however I think it really needs news for big volume. Question is whether will keep moving up before that lands?
Rising sp looks more the product of low volumes available, but we can't be far away from news now. Feels like there has been some kind of NDA in place for yonks
Another top up (25,334) had to get via fill and kill order at full ask.
Remember mms should fill any order at quoted ask for upto 30k shares
It's small volumes but you have to wonder how long it can be before we get news. They have probably been negotiating for more than a year
A little bit of movement this afternoon. Leaky, leaky???
Little 22365 top up from me at 3.3p just now. Been more buys than sells below 3.3p and we’re approaching 6mths since last operational update. Been expecting something for sometime, can only be getting closer to news…
Nothing unexpected in report today. Still circa $3m cash plus investments.
Obviously it’s all an operational update we’re wanting to see.
Collapse in sterling since April technical report means NPV is now £91.6m vs £74m at the time. MC since then reduced from circa £26m at open of day if technical report to just £7.8m now. Very frustrating seeing that..
“…With the full Study incorporating the Project’s titanium component on the horizon, and the prospect thereafter of a detailed roadmap to production, this may be the right time to take a position in JAN…”
https://total-market-solutions.com/2022/09/jangada-mines-plc-4/
If you consider our market cap is circa £8.25m at the moment and we have cash and investments covering circa £3m of that then pitombieras is currently valued at just £5m.
Should we get a farm in/buy out at levels asiamet/Marianna managed then those buying or selling at current SP are effectively buying/selling at just 10% the fair value.
News when it lands could well be truly transformational. It’s an exciting time, although most just don’t understand that….
Route forward and how good it is for us shareholders really depends on the interest in the project. The economics really are outstanding.
I’ve been keeping eyes out for financing of other iron, vanadium or Tio2 projects in last month. Think count is up to 7 projects now in the last month, none of which would have the economics of pitombieras.
An example of a buy out is Marianna resources.
Pea DFS
IRR 153% 36%
NPV $1.37b $1.05b
Capex $261m $309m
Marianna resources taken over after PEA for their 30% share at £167m (£556m 100% basis)
That buy out price was at circa 50% if the PEA NPV or 65% of the FS NPV. If that was the case for pitombieras it’d effectively be in the range of a 15p-19p buy out.
The capex requirement is outside our own means. Last years TMS interview included Brian commenting on how project could be financed if further benefication was done. Mix of offtakes and industrial partner was the answer.
An example of a recent farm in to build can be found in asiamet RNS of 3rd November 2021. In that instance terms were $50m for a 51% interest. The headline numbers of their FS were IRR 19.1%, NPV $133m and capex of $223m (npv/Capex ratio just 0.57). Partner basically farming in at 75% of the project NPV.
Pitombieras economics are much much better with IRR 100%, NPV $96.5m and capex of $18.45m (npv/Capex ratio of 5.23).
Should a partner farm into pitombieras at 75% of NPV it’d be equivalent of an SP at 22p….
BF - I’m fairly certain they’re in talks now
1) They sold Pedra Branca when we were waiting for the FS. Advises were they couldn’t get support to take a small scale PGM project forward themselves i.e. at that stage they'd been in talks to take it forward. Very likely they’ll be in such discussions now with Pitombieras
2) In June advises were financing could complete as soon as start of October. Financing of course isn’t just a matter of making a phone call to the bank.
The question is rather how much interest is there in the project and in what was is that interest? Fund the mine build, drill out deposit to consider larger/different operation or even as you say to acquire it from us.
would be nice to hear something - if only a holding rns.
The trade at 3.30p is a buy by me. I have to believe that they are knee-deep in negotiations that could be transformative. That could explain why they are now looking at nickel too
Thanks DCat. Obviously a very experienced guy. Maybe they couldn’t say no to the chance to use his knowledge but the more people brought in the more it suggests there’s more to do to commercialise the technology. I’m assuming the main protagonists have other jobs/income but the Fodere venture has been going on quite a while - they surely must want to monetise their efforts soon. Hopefully it’s getting closer to the crescendo. My instinct says the investment here could eventually be a really valuable asset in the Jangada toolkit, just bucketloads of patience required!
Any signs of life for Jangada? Perhaps we are going to sell Pitombeiras to develop that nickel tenement?! Nickel appears to have good prospects...
SAO PAULO, Sept 7 (Reuters) - Brazilian mining company Vale (VALE3.SA) said on Wednesday that global demand for nickel should increase 44% by 2030 compared to that expected for this year, due to high demand for use in batteries that power electric vehicles.
"Demand for nickel is forecast to increase rapidly this decade with the energy transition," the company said in a statement, adding that the new forecast would be of 6.2 million tonnes in demand.
Fodere been recruiting. Another sign things are moving there..
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
'...if in fact it is true.'
May be it's a conspiracy, a plot between the ANM, the Diary of the Union, Grb....., VTf....et al, that only can be true if Jamgada say so.!
Yeah, that's what it is, it's a conspiracy! How could I have missed that?
Really, then best stick to the realities of the Jamgada DFS and a 5 year look ahead price of Wolframite on the Zhengzhou commodity exchange. Lol
Surely this is material news and has to be announced by the company if in fact it is true.
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Right side column
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The research permit for Ptoembieras was due to expire 11/11/2022, however that too has been extended under Covid resolution 76/2021.
The new expiry date is 24/05/2024, so no rush then!