Member Info for bigboyblue

We're all guessing, but fwiw I agree with Seis @11.24. Fwiji barely rated a mention until this time last year when it was suddenly announced as a priority for drilling, just before the EA was announced. Surely not a coincidence. Results were encouraging but not conclusive, hence the extension in January.

There was probably a reasonable expectation that we'd have further results from Fwiji by now but that hasn't happened due initially to weather and then covid. I think AA are waiting and subject to results may buy Fwiji and possibly enter into some sort of JV on other targets.

I think the origins of this deal go back further than that. This interview was from July 2019:
https://www.youtube.com/watch?v=kmnYdIqoveM Listen at around 5mins 10 secs.

Bluejay's Thunderstone licences don't include exploring for uranium. That rns was a case of Bluejay overegging the pudding. Shortly after it appeared there was an article in Sermitsiaq stating that uranium was not included and quoting the minister as saying that 'a conversation' had taken place with the company about it. I can no longer find the article, but it is referred to here: Https://www.highnorthnews.com/en/bluejay-mining-may-not-look-uranium-greenland

I presume JAY got away without having to issue a correcting rns because, on a strict reading, the original one didn't actually say they were going to look for uranium. As far as I can see IA have said nothing that is likely to adversely affect Bluejay.

Incidentally, Sermitsiaq is an excellent source for following current views in Greenland, including those of the politicians, provided you can cope with the tortuous English produced by Google translate.

Sometimes the SP Angel briefing notes appear a bit rushed (minor typos etc) . Nevertheless, I thought it interesting that they talk about 'potential for a significant offer for the company or it’s assets' rather than a JV. Accept that I may be reading too much into it.

Arc Minerals* (ARCM LN) – 6.2p, Mkt cap £65m – Immediate appointment of Rothschild & Co as financial adviser
(Arc holds 72.5% of Zaco and 66% of Zamsort in Zambia. Zamsort has a portfolio of copper-cobalt prospects close to FQM’s new Trident mine on the Copperbelt in Zambia. The Cheyeza project is 66% owned by Arc Minerals through its holding in Zamsort.)

Arc Minerals report the immediate appointment of Rothschild & Co as its retained financial adviser.
The company is currently in discussions with Anglo American following extensive due technical diligence by the Anglo team.
The due diligence exercise has since passed onto commercial due diligence.
Nick von Schirnding, Arc’s CEO was a former executive at Anglo American working alongside and closely with successive CEO's.

Von Schirnding, was brought in to rescue and restructure Bumi, the Indonesian coal business founded by Nat Rothschild and James Campbell, former head of Anglo American’s Coal business.

Nick appointed Rothschild as Bumi’s advisor working closely with Rothschild to succesfully closing a $501m all-cash transaction for one of the company’s coal assets
The $501m deal took the market by surprise given its perceived low probability of success.

Von Schirnding subsequently relaunched the company as Asia Resource Minerals .

The deal established Nick’s reputation as a deal maker able to lead complex corporate restructuring along with the establishment of corporate governance.

Conclusion: The appointment of Rothschild & Co is unusual for a junior mining company indicating the potential for a significant offer for the company or it’s assets

*SP Angel acts as Nomad and broker. Our mining analyst has visited Arc’s license and pilot process plant at Kalaba in Zambia. The analyst holds shares in Arc Minerals

Accipiter: I believe that extract came from an article written more than a year ago and several things have changed since then. You can follow by going through the rns releases on the company's website. However, re your main point, it is true that there are logistical challenges in working that far north, but none that can't be managed with a bit of planning. There is a reliable 4 month shipping window each year, but the actual mining operation can carry on all year. The link below is a bit old now, but it does give a reasonable overview of how things will work: https://bluejaymining.com/wp-content/uploads/2019/08/Project-description_UK2.pdf

SnipVW, it has been updated but they've put 2020 instead of 2021.

Look at it. It's the Hargreave Hale shares previously announced by RNS and which came into play on 18th Jan, so nothing new.

Schlemiel: I don't normally post here but do so on another board. I have posted some of your excellent links there. It does seem to me that the ERMA means business and they won't be short of funds.

I'm guessing yes, although time is getting a bit short. If it doesn't happen it would be disappointing, but not (in my opinion) a sign that anything has gone wrong. The Greenlandic authorities are fond of dotting 'i's and crossing 't's.

Rambo. Greenland politics is extremely fragmented for a country with such a small population. The current Government consists of 3 parties, headed by Siumut which is pro independence. It is also pro business (and mining) as taxes and royalties will help the independence agenda . From our perspective I don't think it matters much whether Nielsen or Jensen is PM, although Jensen may be considered a friendly face as he was until recently the Minister for mineral resources. The only problem might be if there is an election and the main opposition party gains power.

I believe the final boxes being ticked at present probably relate to the Impact Benefit Agreement which will be published when the licence is granted. This document is important as it will set targets for the number of Greenlandic workers we employ and the extent to which we have to use Greenlandic services. If you scroll down to the bottom of this page Https://govmin.gl/exploitation/get-an-exploitation-licence/impact-benefit-agreement-iba/ you will see the IBAs currently in force. The main text of the document is generic; it basically sets out a framework applicable to all mining companies. It's the appendices that will be specific to us. For an example, see the Tanbreez IBA which is the most recent one at the bottom of the page.

Cancel thread that, just seen the posts on the other thread!

I'm new to LSE but have held here since Nov 2017 and have always followed this board closely. Any views as to why Mumena Mushinge is stepping down?