Member Info for daramuda

That is because the management led by Rod McIllree are professional and in Rod's case he is an excellent geologist supported by others. Further he and his colleagues are not running the company as a lifestyle company for the benefit of the directors; they are modest in their incomes. Very different to many AIM companies which appear to be run for the benefit of the directors and not the shareholders and in some cases are little other than frauds with the authorities doing nothing to monitor them or take action. Rod also knows when and how to bring in the correct advisers and furthermore has developed over the years a good and professional relationship with the Greenland authorities; he and his colleagues are going through the correct procedures for it could not be otherwise. And that means under promising and delivering what they say is to be achieved.

I thought that you might want to know that I picked up yesterday from the advfn board that Simon Cawkwell (Evil) likes PGM. After some digging I found from his blog on Master Investor yesterday that he had bought some stock at 4.2 for his wife. If you do not have it it is possible to subscribe to Master Investor for free.

I take your point but I believe that you have missed a few points. 1. If you read the interim statement and the equivalent of the balance sheet you will see that of the current assets there is a reference to receivables; you will note from note 7 that over �3 million relates to the issue of shares not yet paid for. 2. You will also see from the interims that there are warrants still to be converted subject some of which are convertible now and would bring in cash although in one instance some are converible at 6.1 pence. 3. I fear that you have missed the relevance to the announcement of 24.10.17 relating to the cobalt tenements; the Congolese producers appear to be retracting whereas demand for cobalt is accelerating. The price is rising. You are quite correct that it will be some time before the mines produce but in the meantime which is usual with any miner steps have to be taken to get to a DFS and BFS which are used for the raising of the necessary capex. I am content to have a position to which I will add as and when I can and at sensible prices.

I take your point but I believe that you have missed a few points. 1. If you read the interim statement and the equivalent of the balance sheet you will see that of the current assets there is a reference to receivables; you will note from note 7 that over �3 million relates to the issue of shares not yet paid for. 2. You will also see from the interims that there are warrants still to be converted subject some of which are convertible now and would bring in cash although in one instance some are converible at 6.1 pence. 3. I fear that you have missed the relevance to the announcement of 24.10.17 relating to the cobalt tenements; the Congolese producers appear to be retracting whereas demand for cobalt is accelerating. The price is rising. You are quite correct that it will be some time before the mines produce but in the meantime which is usual with any miner steps have to be taken to get to a DFS and BFS which are used for the raising of the necessary capex. I am content to have a position to which I will add as and when I can and at sensible prices.

I refer you to paragraph one of my post of 20.10.17 which may help you.

and that was one of the reasons why Iluka's purchase of SRX was, as they say, "for a song"; not quite but it was for an undervalue because the price of sands (rutile zircon and ilmenite) had undergone a price reduction over two years and were beginning to recover at the end of H1 2016. Prices are rising and should continue to do so well into 2018. As you say positive for JAY. I am confident that once all the pieces of the jigsaw fall into place, we have the exploitation permit and start production, JAY shareholders, the Greenland authorities and the local people will benefit. Good for all and the narwals and walrus's will still be able to breed and dine.

An off take agreement with Huntsman has to be possible. The purity and consistency of the Dundas ilmenite sands are exceptional and subject to the exploitation permit about which I see no problem, although proceedural matters e.g. SIA,EIA and DFS have to be completed first, the company have a clear route for mining, the building of infrastructure and shipping. Other potential buyers should also be interested.

Please do not forget that there are other institutions invested in Bluejay. I highlight M & G (now I believe Legal and General) which has 9% of JAY and which had 20% of Sierra Rutile (sold in December 2016 for �250 million incl debt which they and pis was at an undervalue). Sandgrove and M&G see value in JAY and I suspect also Disko although that is a nickel play.

may I suggest that you read my post on here timed 15.20 last Friday and the RNSs in connection with Disco. One cannot tell when it will happen but it could be at any time imo. Interesting trading today and the last few sessions.

Best that you reread all the recent RNSs and look at the interviews on the media section of the company's website. There is a great deal going on; you just have to be patient. It looks like there was big buying last week.

Thank you. I ran out of space and had to trim the post. Two points need clarification. There are no matters raised by the locals with the EIA which have not been dealt with satisfactorily. I believe that it was for reasons of commercial sensitivity that the CEO declined to expand upon details of who the company might be discussing an off take with.

I sense that you consider that things should be moving faster with your comments about an off take agreement ahead of the DFS. There was an announcement on 26th September wherein the CEO stated that the engagement process with customers had begun. At the AGM on Monday the CEO declined to give any information as to who the company is talking to but Peter Waugh, who is deputed as I understand the position to be leading this aspect of the company's activities made it clear that the company are talking to big businesses but that as with large businesses things take time with them carrying out their own due diligence as they must do. In the meantime all is well with the EIA (there were few queries raised by the local population) and the SIA with many locals interested in employment. Relations are good with the authorities and work is underway with Amec announced as an important cog in the preparatory work for the DFS. Once all those aspects are in bed the application for the exploitation permit will be made. The company are working as fast as it can; do not forget but the ceo and others associated with the company have a great deal of wedge invested. In the meantime it is no secret that Disco will be hived off. All Bluejay shareholders on D Day (date to be announced) will have an interest in I assume Newco so that those who have sold will have no stake in that. The board have high hopes of Disco and the electromagnetic survey is underway. The company is funded. Certain drilling has been taking place at selected spots within the Finnish assets (they in themselves are not worthless). And so I am being patient and added to my already sizeable investment on Wednesday; even the wife has invested some money!! I have already mentioned this in the past and so forgive repetition. I had quite a few Sierra Rutile (SRX). That company was acquired by Iluka in December 2016 for circa �250 million including debt. Jay has no debt; its resource is still formally being added to; there will be a JORC uplift but we all know what is in the GEUS report. We do not have rutile but our ilmenite is very pure. Further the sands and ilmenite are of a consistency which is unusual. That is of extreme importance to purchasers. It was the opinion of myself and others that SRX was sold at an undervalue; Iluka took advantage of the fact that mineral sands had gone through a decline in price over at least two years; that together with the toll taken of Sierra Leone by ebola enabled them to acquire SRX at an undervalue. M&G investors in SRX are invested in JAY The company wants to hive off Disco so that if there is a bid for Bluejay by a third party Disco does not get lost to Bluejay shareholders of which the board represents quite a percentage in number of shares. Once all the dots join up and taking SRX as a yardstick I have in mind a market cap and at which I would feel that the Dundas sands have not been sold at an undervalue with 785 mill

well I added yesterday. The various developments for Dundas are not going to happen overnight but there is a clear pathway to the board providing value to shareholders and plenty of news to come. For that reason and the proposed hive off of Disco to protect Disco from a bid for Bluejay, make it far better to be a holder than not. It is so good to be a holder in a company where the board deliver what the board says it will and do not just act, as with so many AIM companies, just for themselves only to see other shareholders stuffed.

Might the article which quotes cash costs of $30/lb have been written before the RNS of 30.08.17 which advises that the operating cost per lb had reduced to $19.40?

There are already two institutions who have announced their positions. There are one or two who have not. The sands at Pituffik are not only huge but they are very pure in ilmenite. What is more the purity is consistent throughout. I will not try to bore you with my limited knowledge of the effect of that homogenous purity but in short it makes it particularly attractive to purchasers. So you have a huge resource Very pure in minerals Easy to extract compared to other producers which need expensive mine Low in costs to process Hence potentially very profitable and a Bluejay share also comprises other assets

apologies - his handle is w3hunter.

cashfornuthin I am a subscriber with hotcopper; I find that is worth it when invested in stock listed on LSE/Aim also listed on ASX. If you choose to do so or are already subscribed, I find amongst hotcopper aura posters Hunter3 being interesting from a chart perspective. He believes that there will be a change of trend.

Where is your evidence? You have only posted recently and that negatively. If you have a position please declare it whether you own stock in Bluejay or whether you are shorting it.

Also firm on ASX

Yes I have researched the company thoroughly. May I suggest that you start with reading the recently announced half year report. The 250 tonnes which have been shipped was extracted from the beach in a matter of weeks. Another 250 tonnes will be warehoused. It is not the intention of the board is to give it away; Bluejay is not a charity. I suppose if tomorrow there is a freeze over as in the film "The day after tomorrow" or the sands disappear into the ether, Greenland floats off into space or the world comes to an end shareholders will. have a problem. Please do some research.