Member Info for Catbert

Not as deadly as my wind Condorman.

Try eating catfood and see what happens.

That's really deadly.

I might phone Porton Down to see if they can do something useful with it.

Scotty here we have as yet to fully define the orebody at either Bibemi or Mbe.

The other posters are correct too on the jurisdictional points.

Some big drill hits will light this up.

Timcosa.com

linkedin.com/in/fahad-al-tamimi-24702660

Fahad Al-Tamimi is the founder and CEO of Tamimi Trading & Contracting Co Ltd (TIMCO) based in Saudi Arabia.

Over the last 30 years Mr. Al-Tamimi has been an integral part of the Saudi Energy, mining, and transportation industry, with a portfolio of major investments.

As co-founder of Worley Parsons and the former CEO, Fahad Al-Tamimi was responsible for managing operations for projects that included a $5 billion Phosphate program for Ma’aden in Saudi Arabia. Worley Parsons provided services to Saudi Aramco during Mr. Al-Tamimi's tenure, equating to 70% of all Saudi oil engineering works.

Fahad Al-Tamimi formerly held the position of CEO at SaudConsult, the largest engineering company in the Kingdom of Saudi Arabia. He remains part of the company as senior consultant to Dr. Tarek Al-Shawaf, founder of the company and Chairman of the Board.

He also has connections with Sabic as an equipment supplier however this type of organsation could quite easily be an end user given their involvement in the production of various products including paints.

Clearly he's a very clever and accomplished guy with a deep understanding of engineering and superb connections within the KSA. He looks like a pretty useful person to have involved in this project.

My reading of that is that they are looking at other projects. With cash they can pick up new projects and probably quite cheaply, it now makes sense to start to devlop opportunities in other jurisdications besides Cameroon. A sort of jurisdictional de-risking.

My guess is that these will still be in frontier markets.

The share price is a big plus now re the Lanstead deal as this was priced at 0.19 and we are nearly double that. Plus we've had the signing fees plus we'll get progress fees plus a possible fee for exiting Senala.

We now have enough cash to buy new sites and roll the dice on some self funded exploration activities.

Most of our competition are potless and diluting at low MCAPs. Well done Tim and the Board.

They will almost certainly have already generated other targets.

Beardozer. I'm continuing to hold there but not a big position. Don't be fooled by my writing -I'm as daft as the next man and more than capable of losing money. I can prove it too.

My thinking is that Outokompu was a big mine and there is probably something more in Finland. If they can find it. They had Rio on a JV looking but didn't really hit big enough grades and thickenesses. Someone else might want another try. People love copper.

They have lots of projects in Greenland including Dudass which is over ready but seems to have stalled for want of money and I was expecting them to JV with cash paid by their JV partners as here- rather than dilution to get things moving across their projects.

I got the hump when they raised and it looked like insiders had made big sells before the raise. Hence my outburst and the Weasels comment. Not my finest moment. My assumption was incorrect. They had every right to raise. I just thought it was stupid but I don't know their cash position. So maybe I'm wrong and they are right.

Disko could be stonkingly big but it's all a gamble. They now have a very low MCAP for what they hold in projects which is why I hold there but they also have a spectacular record for screwing up.

Sorry to cross post but Beardozer asked me.

If Jay does what the Oriole BOD has done they could multi bag. Don't bet the farm on it. Unless they get big hits at Disko. Then maybe. That licence is surrounded on all sides by Anglo American properties and Kobold seems legit.

To be honest this looks like a better bet. We have signed the partners and we're posied to drill. Mbe is an open goal and the first drill is going to report bonanza grades because we know where the bonanza grade vein is. At Bibemi they hit gold on something like 45 out of 46 drills historically, so they understand the geometry well there and the grades and depths look like they'll make a very profitable mine. At £14.5m MCAP this is still a stonking bargain IMHO.

Eileen was right and so was Kutzz and your good self too Beardozer!

What a day today has been.

GLA DYOR

They don't need to post an RNS or do anything because in the absence of news or action we gaslight oursleves here.

At least I do. I'm sure the rest of you have way more of a clue than me.

The Directors continue to be the only beneficiaries here.

Surely they can drill in Ireland? FFS.

Now officially a quarter of an inch higher than they were this morning.

Hopefully there's a big smile on his face too.

GLA.

If the negotiations had been terminated with either of the parties the BOD would be required to notify us of this. Unless some exception applied which might be the case if these negotiations were near to conclusion with one or other of the parties (I'm not saying that this is the case here).

The cultural approach in China is to take time over negotiations even where there is a reasonably well established relationship. Rushing is simply something that they wouldn't do as they would regard this as akin to rushing the preparations for a wedding (they don't want a problem on the big day).

This approach has the added benefit of extracting concessions from the counterparty who may get nervous with either delays or silence during the process. I would expect delays and or silence from the Chinese during this process. Our guys need to keep their cool and not try to force the pace too much. This is going to go as fast as LB want it to.

The important thing is that we do not make concessions to them simply because we are impatient or do anything to encourage them to continue their delays or silence by rewarding it in any way.

Sri Lanka has a free trade agreement with the UAE which has a free trade agreement with the other Gulf states (all of whom are pivoting away from oil and gas). Plus there is the option of a large end user wanting to make a vertical integration play and being willing to sign an off take. This resource is considered as a strategic mineral by many nations.

There are plenty of alternatives to the Chinese. Nonetheless LB group has a lot of expertise which would be good for the project.

Investors here are a patient bunch. Better a slow deal than a bad one.

These slippery weasels better not be paying themselves any salaries. Not with their track record for value destruction. None of them deserves a penny.

Time for salary sacrifice and a massive cull of overheads.

Time too for an announcement of their plans.

They've had enough time to work out what they are going to do, they should not still be planning what is going to happen at Disko they should know by now. So what is the plan?

The plan seems obvious and is presumably based on the idea that of the sum of the parts here is greater than the sum of the whole (The present derisory MCAP).

The various parts look as though they will be shunted off into a series of JV projects where the JV has sufficient capital to progress them.

Bluejay is no longer that vehicle to supply the capital as it is too small for II monies and raising will create too much dilution and raise too little money to be worthwhile.

Disko is the project with the most development potential and we have a partner interested defining what we have there and more news on that front can't come soon enough for holders (however given that we are unlikely to raise my guess is that IR with PIs is no longer of any consequence).

The rest of the plan more or less writes itself IMHO.

The company has just traded through a period where explorers have been starved of capital and where risk has been off the table. Management could have made better calls in hindsight but with hindsight we could all make better calls so that criticism serves no useful purpose whatsoever.

If they can execute even part of what is possible here the upside could be quite spectacular. IMHO.

I've seen similar with other Explorers who had run low on funds but had the degree of optionality which Bluejay has within it's portfolio of projects.

Oriole is an example. MCap bombed out to £4M now back north of £9M once they signed a JV on a couple of their projects all within months. All without a drill even turning.

The same could easily happen here. Add in some drilling and hit some decent intersections and with the ensuing positive newsflow the wind is back in our sails.

Things look pretty bleak here but the thing is the optionality of these projects is pretty stunning.

The price now looks wildly disconnected with what we have.

Fix the development capital issue and we are moving again. That's it really. A reasonably intelligent 9 year old could work out what needs doing here. I'm sure our board won't struggle with a strategy. They don't have many other options.

Hopefully not one for the bottom drawer just yet.

GLA DYOR.

Tesa I read the report from US geological survey and changed my mind. I still hold but less than I did.

I'm derisking from here. The best hard rock Titanium deposits are 30% Tio2- Tellnes etc indeed the top two account for 32% of global supply.

The sand deposits are lower and can be economical at 1-2% although many are much better than this i.e. Capital Metals is around 15% processing these is simply a case of scooping them up and sorting them. A sandstone is easy to crush but it does cost money to do that.

At present all we have is reports on TiO2 content not what types of Tio2 we have and this is crucial information based on grades and thickness Pitfield is world class but if it's the wrong sort of Tio2 it will be worthless.

Indeed there are many titanium deposits that are uneconomic. At present for me at least this has gotten ahead of itself.

If the Geochem comes back with the likelihood of expensive or low recoveries then these shares wont have a buyer.

Personally with the holding I've built I can't afford to get wiped out for 90% of my investment.

So my conclusion is that there is no risk priced in at all at these levels and instead we are hearing what we want to hear about grades and thicknesses and that's it. They are spectacular for sure.

Yet if you read the RNSs they state clearly that the Geochem isn't done. We have a statement from SB saying they hadn't found much magnetitite well that might be true but if they have found titanomagnetite in any volume we're screwed.

I may now be losing a lot of money by derisking here and good luck to all holders with long enough necks and deep enough pockets to carry on regardless. However for me I'm going to cut my holding substantially and wait on the side lines for news in case we are into tulip territory at least until we have geochem done and can be sure this find is economic or at least potentially economic.

I posted yesterday with a report by the US Geological Survey on the Titanium market. Read it if you hold any decent size of your portfolio here. This is the find of the century however it may be economic or it may be academic.

Hopefully it's the former.

GLA DYOR.

The spread is a monster. Surely the BOD needs to say or do something. It's outrageous.

Https://pubs.usgs.gov/pp/1802/t/pp1802t.pdf

We are only getting reports of Tio2, the devil is in the details however.

No one knows the future. Most holders of these types of shares know that there is a lot which can go wrong and so many can take fright at unexpected news. It's not unreasonable.

However, what if the RNS means just what it says. Another party is interested. It could mean anything of course. A major seems unlikely unless one has now been persuaded of the expansion capacity which seems reasonable but is unproven.

Another possibility is someone interested in Off Take i.e. someone who isn't obsessed with scale but with price and security of supply.

Production costs for this project should be competitive given the logistics and grades. An offtaker might want confidentiality and might be happy to work with other partners. A large consumer might be interested in securing product and benefitting from vertical integration.

It is speculation on my part but it is a possible explanation particularly if there are already partners on the project with mining and processing expertise.

Until the company can say who else it is in discussions with we simply won't know.

The only thing missing for Saudi as a destination for Zanaga’s Iron Ore is possibly the lack of port infrastructure on their side (something they can easily fix).

The UAE is better provided for in this regard and has a free trade agreement with the Saudis (GCC and AFTA). This possibly places some new context around the recent trade agreement between the UAE and CB.

A free trade deal with any Gulf nation is really a deal with all of them.

Iron is a big strategic opportunity for these Gulf nations. Instead of flaring off their gas using their gas to smelt Iron Ore seems a greener option. Indeed for DRI steel making at scale where better than the Gulf?

Perhaps China will still be the ultimate destination for some production but possibly China's greatest long-term opportunities are further up the value chain, making use of imported green steel as a manufacturing input.

If China needs to import energy to make steel it will find it cannot compete with a pivoting Middle East which will have almost zero energy costs. Perhaps joint ownership and a contribution to the delivery of the technical elements of a DRI project or projects located in the Gulf area is a good outcome for all parties, China included.

Their view is presumably that neither the Europeans nor the Americans could make steel cheaper or greener than a DRI partnership between the Gulf states and Chinese will be able to. Access to high quality ore will be a crucial part of this equation. The UAE also has an FTA with Japan, another major market.

These partners, if this is how it plays out will have a product which the West cannot exclude from their markets with green tariffs, and it will be both cheaper and greener than anything the West can make at home.

Perhaps domestic Chinese steel production will become more oriented towards internal markets, and no doubt the Chinese will continue to be significant buyers of iron ore. The Chinese industry after all is an important employer and will no doubt continue to be so.

Steel is a geostrategic resource, and it often becomes a political game because of this. Many countries make a case on security grounds for retaining domestic production. Making a profit making it is really the challenge and many don’t. However any party with near zero energy costs has got a decent chance of succeeding.

Zanaga is a project which sits at the crux of a potential step change in steel production it has both volume and quality and will hopefully play a significant , even pivotal role in the transition to DRI methodologies.

These views are merely speculation on my part.

GLA DYOR.

Kenny new sock for you know who.

1. Upvotes himself from his other socks.

2. Continuous anti Jo invective.

3. Bleating incessantly about raises.

4. Nothing posted prior to yesterday.

5. Can't reappear as his previous sock as the share price will make him look like a chump.

Best not to engage as it's a bit like wrestling with a pig- you'll both get dirty and besides the pig likes it.

We have assays from the Northern Copper zone pending some with serious thicknesses expected plus possible news on Grangesberg. A JV seems to be an obvious route there. Short term profits can be banked now but this looks like it could be the retracement of a two year trend.

Do we have more value now than two years ago? Even with a few more shares on the register?

Hell yes!

The sum of the parts here has widely diverged from the market cap IMHO.

Grangesberg is still priced as pie in the sky even though brownfield sites like it are changing hands for $30m and Parys mountain is priced as a massive long shot for permitting when quite the opposite is likely and indeed Anglesey will in fact clean the site up.

This still has a long way to go IMHO.

GLA DYOR.

Https://www.youtube.com/watch?v=BfdkQGQ5xpA

This is Harry in his younger days singing about Kefi. He's had a haircut since and now wears a suit. Hidden talent if you ask me.

"This Northern Copper Zone is in places up to 100m thick" Jo Battershill.

In essence we are now looking to change the original plan to incorporate a second minehead which will decline onto the copper target at the beginning of the mine life.

This gives us the outcome of a significant increase in production volumes and potentially allows the to project to make a quantum leap forwards in terms of project economics via bigger stopes, earlier mining of copper and higher volumes.

Not to mention added resources.

All moving in the right Direction if you ask me.

GLA DYOR.