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Have to be positive or investing in this space can drive you nuts!
Since this post, another correction posted to the confirmation statement from a year ago. Paid lip service to filings before now so can’t believe doing it out of the goodness of their heart, hopefully it’s a sign of a data cleanse prior to an IPO! Pilot plant in Zambia was meant to be operational this quarter, so hopefully news soon. So my investment thesis is now…
Pilot plant is huge success. Fodere IPO (maybe in US to leverage ex-Tronox board member connections) to fund main plant at Highveld. Tech proven to work too on Pitombeiras ore. Massive offtake deal announced. Dual listing for #JAN on TSX because Luis is famous there now (Bravo). Brian gets off the beach and gives us an interview!
One I saw a week ago might interest. Phenom commenting 4 new vanadium battery plants to be built in US alone with approaches for offtakes.. Certainly looks like vanadium should be doing well with demand growth for vanadium coming earlier and to higher extend than most forecasts.
Let’s hope our BOD sort out funding so we can enjoy some tasty vanadium credits..
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1314-tsx-venture/phnm/136567-phenom-provides-relevant-new-developments-in-the-vanadium-space.html
https://www.miningweekly.com/article/vecco-starts-work-on-vanadium-battery-facility-2023-03-08
The latest annual confirmation statement came out and always think it’s worth a look to see what’s changing.
1) Seems to confirm the #JAN shareholding is around the 7-8% mark as per the last RNS. The September RNS for the interim results saying it was 3.6% seems now in my mind a bad copy/paste job of the wording from the previous year’s interims.
2) doesn’t look to me like Fodere raised significant new cash in 2022. The main big jump in the share count was for the shares issued to the ex Tronox guy for coming on board, I suspect this was not for cash but not certain of that. There are 3 new shareholders added and looks like they were transfers from one of the founders rather than new issues, so that suggests Fodere was sufficiently cashed up at the time. Googling these, one of the new ones looks like he’s linked to the investment company for the Barclay family (i.e Ritz hotel, Daily Telegraph).
As much as the companies house filings still suggest the Fodere admin is not brilliant, does seem they’ve pulled together quite a big share register. Suspect there’s some serious high net worth’s in here.
https://find-and-update.company-information.service.gov.uk/company/09362025/filing-history
Today Anglo American sighing iron ore offtakes (not in Brazil).
https://www.marketscreener.com/quote/stock/GRANGESBERG-EXPLORATION-H-64307462/news/GRANGEX-signs-a-USD-10-million-Royalty-Agreement-and-a-binding-term-sheet-for-an-Offtake-Agreement-w-43167041/
Bittersweet reading the bres broker note.
3 years of working on pitombieras and still not a single broker note issued. Simply not good enough… Wonder if Brian wants to comment on why that’s the case…
Don’t expect Luis to be able to repeat that with a new project for Jangada!
Still I’m very interested to see what project is acquired, how deal is structured and intentions for it.
At the very least it should produce some much needed newsflow…
It should not be construed as either pitombieras or her project I.e. it’s not one or another…
Until we know what we’re getting no point speculating or getting hopes up. It’s something I’m keen to see though…
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