Member Info for bonker99

28p I imagine.

The Fed has as good as said no interest rate rises this year which gives HUM another quarter of market pleasing production to deliver in that timeframe so this is nice timing here.

Morning.

All my other goldies are up today - Fed signalling strongly there'll be no interest rates rise this year (ever?!) so I expect Gold to be solid from here and with what looks an inevitable explosive move in 2022.

Good time to buy and hold IMO.

They don't appear to have the money to complete that DFS process so, presumably, they're going to need to raise that money from the market, usually via a placing.

How much they need likely depends on what other activities they want to engage in over the next year or so, they could need an extra £10m or so perhaps.

Nice to see some blue today - a monster trade after hours but who knows what that means re any possible placing price, we've seen a few million trades around 12p already.

BFS - Bankable Feasibility Study - the clue is in the name although sometimes referred to as DFS Definitive Feasibility Study - this is required to be done to secure a loan for Amy other mining play I've ever known.

PFS - Pre Feasibility Study - is a rough guesstimate of the economics of a project and too fluffy to secure funding for, hence the requirement for a BFS/DFS to get the money.

Again, in my experience they usually take a year or so and cost around £10m.

Morning - just time to fit one more post in :)

I don't think timing of "the news" is the issue - the bigger issue is do they have the money to do a BFS/DFS and fund any and all other activities including drilling across projects for the next year.

Correct me if I'm wrong but Dundas has a PFS only so any funding will require a BFS/DFS to be done to secure funding which will be expensive and take a good while to do- 9-12 months typically and that's often a c£10m bill to pay.

PS: If anyone can point me to the actual Dundas PFS document that would be great - all I've found so far is pretty sketchy.

Hey.

Last one from me before I fly to the frozen North.

Will be an interesting week no doubt - given the US closed at 12.25p Friday evening you'd expect to see at least an attempt at a bounce very quickly here tomorrow.

@Pangolin - I found a great example of unfilled downside gaps for you.

It's here at Blujay lol

Loads of unfilled weekly gaps between 1 and 3p right at the start of the monumental rise to 26p - I trust that makes my point as, presumably, nobody is expecting the SP to fall back to 1s :)

This really is an interesting chart as I mentioned before - quite the cup/handle formation since they took everything down to an incredible low everywhere in March 2020 then ballooned all the commodity prices (double+) to make these companies 4x in the following nine months or so.

It's the commodity (Ilmenite) price that's making this happen and forcing the market to price in a higher low over time of course. As the broker notes show (yeah, I know ...) their 24p shout is predicated on something like the $230 Ilmenite price in the PFS but the price now is closer to $400 so they're more than doubling the target SP based on that (56p @ $330 but it's said to be $375 already!) and that's purely based on the amount of cash the project will start to throw off at these inflated prices.

That's the Ilmenite price now and I'm guessing precisely nobody is expecting commodity prices to plummet anytime soon as they're being used to boost inflation with the US signing off trillion Dollar infrastructure bills just to add a bit more fuel to the fire, as if it needs it.

This is what happens when the really big money makes their move of course - all of a sudden all the ducks suddenly start lining up all over the place because they have complete control to make it happen ...

@Crumbles - You're bound to queried if you buy £20 worth of shares that may have cost you £10 to buy is all - no harm meant :)

@Pangolin - Fair comment about gaps but don't forget the gap on the weekly @ c25p - if they go for a fill at single digits then this will obviously be hammered back up. I'm a buyer here so that would be great to get that opportunity but clearly, I have doubts about that happening - many will be eyeing 11p obviously but again, that may or may not happen.

Some gaps to the downside never get filled and that's demonstrable on all sorts of shares that drop news bombs and go onto great things because the shares at that price have been cleared out - hence the gap-up because of what happened off/pre-market.

Anyway, that's my view as an experienced TA guy - others can chip in if they like - just know that people looking to buy in will gladly keep pointing to gaps below and silly placing prices etc but that's all part of the game ;)

Yup - I get it - my view, however, is that placing could well be up in the 20s/30s region with Dundas (easily) providing the floor SP for that - ala MKA who also didn't need to gift away shares at a ridiculous price.

The last placing here, that I can see at least, was at 10p in 2019 if that helps to give people a bit of comfort at the current price but of course I'm a buyer here so should they start twitching this down some more I'll be there to meet them :)

Well quite - they already have the LOI from The Export-Import Bank of the United States for $208m of debt funding:

https://www.lse.co.uk/rns/JAY/letter-of-interest-received-from-us-exim-bank-513l4v6uplnzp3f.html

I trust you've all taken note of the nature/objective of that bank:

"The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services."

Look at their directors:

Former Congressman serving on the Transportation and Infrastructure committee (appointed by Trump *cough* Greenland *cough*)

The current U.S. Secretary of Commerce

The current United States Trade Representative

I wouldn't be surprised if Pelosi had already filled her boots over there.

It's gonna be big.

FUD - Fear, Uncertainty and Doubt :)

Quite clearly, I'm saying the complete opposite of that but you boys with your burner accounts will like to spread the FUD at 11s for sure ;)

GL :)

Morning.

c12.25p close in the US last night then @ 16.7c

Re my "Greenland is the new Saudi Arabia" and our new uber billionaire partners are the new Standard Oil shout - I found this interesting reading for comparison of how I see this and how I think this could go for us:

https://www.aramco.com/en/who-we-are/overview/our-history#

I think you have to see Crumbles for what he likely is :) The nature of this board is quite likely going to change from whatever it was like prior to that news drop last week and, yes, it may get ridiculous at times but that's just the money reverse/talking as always :)

As for a placing - yes, JAY have a bunch of (extra) cash and, no, of course they don't have the money to go into production right now but they don't need it right now.

There will inevitably be placings as there was - eventually - at MKA who I've mentioned before and who had cash and received cash on an ongoing basis via their big partner, Talaxis, but their placing was just recently at 25p (10x of the chart low) having performed a bottoming curve between 2.5p and 5p and hitting 35p.

Again, apologies for keep mentioning MKA but I think the comparison is merited in terms of the money and the potential (they also had a - Russian - billionaire buying in too BTW ...). I had an average of 8s there, tossed a load when they announced the one year covid delay, picked some more back up at 5s later on but not anything like the original amount I had and that cost me a lot of money in terms of lost gain, be it that it was still a nice win.

JAY isn't a lifestyle company where total BS news is dropped to forward-sell a placing or millions of 0.000000001p warrants etc - the huge II holdings inform you of that reality and so does our new partnership with Gates/Bezos and co.

My read of where this could be going in the year(s) ahead is many, many times stronger than my view of the MKA play so I certainly won't be making that mistake again by losing focus - if they keep dropping her then I'll start reducing some of my Gold/Silver plays to buy more but you do you.

That's only £15k - small beer :)

Anyway, they can close it below 16c or they can't ;)

Have a good one y'all.

Yup :)

Well done - now they're just making me laugh :)

This is the fun bit :)

You seem a bit "stressed" chaps - chill ;)

Looked suspect obviously - who knows where it goes now but GLA

It'll be difficult to avoid the fringe I suspect :)

Hey, it's good to talk ;)