Member Info for daramuda

Asleep at present but ......

GK is no longer boss. Two former Lonmin guys are in charge.

Thank you Dave. ?Lundin.

But Dave are you saying that in your opinion, even without the other three tenures, the board will or will not proceed with the two they have been "re-granted"?

Very helpful - thank you.

Was that comment made by the company? Certainly not in an RNS.

It looks like someone is trying to manipulate the market with an AT trade for a piffly number of shares.

Unnecessarily cynical comment given the AGM last year was on 28th December (2018).

Also with Rio Tinto through RMB in South Africa having problems because of local violence which has caused them to shut down operations and in particular a smelter (s), might it be time to negotiate with RTIT to do a deal for the Dundas sands?
Also Base Resources are apparently having problems in Madagascar. Might the two issues lead to a hardening in TiO2 prices?

Arok - I stand to be corrected by others but it looks to me as if Sandgrove have added 10 million shares out of the placing shares to their prior holding.

I suspect finance - possibly an injection from a European agency bearing in mind Greenland is a "protectorate" of Denmark leading to drilling at Disko or a partnership/ farm out deal involving Disko and drilling at Disko.
Disko is potentially a very big prize.

In fairness the November 2018 director buys were at a time when the directors considered that the permit would be granted. There is no clarity as to why it has not been - just speculative ideas.

I can see your logic Rambo but the scenario and legal position may depend on the terms of the agreement between Bluejay and RTIT, whether RTIT has an option to purchase and if so whether there are defined terms i.e. quantum (to be agreed or estimated by a third party) and the going price of ilmenite or titanium at the time of completion of a deal ; further whether Bluejay can negotiate with AN Other in the meantime. It struck me that even if RTIT had an option to purchase it might suit RTIT for Bluejay to obtain an off take agreement with a third party the benefit of which could be acquired by RTIT if there were a deal achieved whereby RTIT acquired Bluejay's licence and Dundas assets. I am not privy to the agreement nor am I likely to be and so these are just my speculative thoughts on the subject.

Whatever the position is, I personally doubt that RTIT have agreed to take the concentrate to test in its smelters unless they had an earlier sample (we know potential customers received samples - earlier RNSs) and tried those samples processed into concentrate first. I am hoping that RTIT want the Dundas sands both for quality/purity/consistency and for their iron content. Smelters are temperamental - some suffer blow-outs but there is less risk if there is a minimum of deleterious material which the Dundas sands largely lack. In the meantime we are both in the dark with a great deal of detail.

not only those trades Milender but I have just seen a comment on advn about a late reported trade which looks like a buy at 9.15.

I suggest that you revisit the comments of the Greenlandic Minister of Mineral Resources set out in the company's RNS dated 9th September. The application for the exploitation (mining) licence has now been lodged. Given the comments of the Minister I do not think that we will have a problem in the permit being granted. If you were RTIT (RIO Tinto) you would quite possibly wait until (1) the grant of that permit and (2) the outcome of the volume smelter test.

I have no idea what the contents of the RTIT/JAY agreement are. But it is odd that only one half of the condensate ilmenite appears to be going to RTIT. I have always thought however that given the reasonable proximity of Dundas to Sorel a tie up of sorts between RTIT and JAY was likely if the condensate from the Dundas sands suited.

Don't forget the iron content and Rio's other products.

Ian it is 4,500 tons of ilmenite concentrate that is going to RTIT (RNS 09.09.19). What is unknown is what is happening to the other 4,500 tons of ilmenite concentrate. 4,500 tons is a lot more than your 5 kilograms.

Ian - we do not need an ore crusher. The Dundas sands are sifted to remove deleterious material and then with the 42 K tons transported to Quebec it is then processed to produce concentrate (10k tons). That concentrate is then transported to Sorel Tracy and if fed into the RTIT smelters. We know that potential customers were sent samples last year and I am guessing that a sample was sent to RTIT for an initial test which then encouraged RTIT to take the concentrate from 42k tons; that is supposition on my part. It is however the smelter test dealing with quantity which will determine where the parties go from there. The unknown factor is what is intended for the balancing 5k of concentrate.

Thanks soutie. Please keep us posted.

The sands go through a process which in simple terms is to create concentrate. That will not happen overnight since only so much can be done in a day. When the concentrate is complete it will then transfer to RTIT's Sorel plant to be tested in the smelter(s). That has been forecast to be in Q1 2020. I do not know if that can be earlier. The smelting does not happen at our pilot plant. The concentrate is produced at our pilot plant. I hope that helps.

Greg - thank you - very helpful.