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There is plenty of news due/overdue
1) Updates on private company called Fodere which Jan have circa 7% interest in. They should be making solid progress towards being producer in 2024 with revenues circa $100m on high volumes. Previously advised would be funded 100% by debt. That’s just stage 1. If all goes well then stage in later years would increase throughput and see revenue of nearer $500m. Market unaware of fodere, but if all goes to plan it’s a $1b+ MC companyat stage 2.
2) Updates on Jangada pitombieras project. We’re waiting on ore being tested using Fodere propriety tech. All going well this would vastly increase the titanium credits, therefore project economics and attractiveness to offtakers to fund the project
3) New acquisition. Been mentioned since start of year. In country director taking lead on these negotiations. BOD are targeting non core assets of majors with unicorn potential and where any payment is down the line on milestones. Whilst no specifics are known the last acquisition made by this director was for $1.3m with it being floated shortly after for over $100m. So it’s the dark horse as in we don’t know what it could be, but the Director negotiating has form and could be transformational.
There’s not been any meaningful update for 18mths which has punished company and lead to lots forgetting the excitement. Pitombieras project already has a post tax IRR of 100% and npv $97m and trial mining licence in place. In current set up iron ore is chief commodity. Recent increase in iron price also helps make project in its pre fodere plant scenario more likely for offtaker funding (although think it’s fodere plant option that will be most likely route).
Regarding new acquisition/s. Not been posted for a while, but Luis taking lead on the negotiations. Recently bought asset for $1.3m to then floated it at nearer $100m with institutional support (all in prospectus below). Definitely the right guy for opportunities in Brazil!!!
https://bravomining.com/site/assets/files/5752/20220715_bravo_mining_ipo_final_long_form_prospectus.pdf
Perhaps more relevant for offtakes than price… I suspect though it’ll be offtake on tio2 that’ll be more likely to us..
https://uk.investing.com/news/stock-market-news/iron-ore-deficit-looms-goldman-sachs-forecasts-supply-shortfall-for-yearend-report-3234554
Artyth, i also added recently (150k), it feels very lonely being a buyer among the sell/s that happen every day though!
As I’ve posted I believe we’re definitely in period I expect to see Fodere updates at the least.. Hopefully it’ll soon be clear on why i believe just the Jangada stake on them will soon be worth more than Jangada current MC…
No idea though on where company is on the new acquisition/s references as being in the coming months way back at the start of the year. I believe Luis is taking lead on these and with what he done with Bravo it’s the dark horse of the possibilities here. Nothing to speculate or research on though until it’s announced and we can review..
Posco and Tanzania get mentioned in this article. Hopefully the kick up the behind for financiers to finally sort blackrock out and re-engage will other nearby players…
https://www.mining.com/web/battery-makers-hunt-for-graphite-ahead-of-china-controls/
Small 35k top up for me this morning. We’re well into period I believe news on fodere own ops and pitombieras should land (had pencilled in from September likely). Sure some of you might remember fodere tech on pitombieras has been focus of my investment case for years and we’re finally at start of seeing this 🤞
HMI is and always has been about sales. All else there is noise. They started off not having licence to sell much and from low volumes, got the licensing to produce more and increased sells. It became a buy around summer 2021 with the headwinds of increasing sales. 5 bagger from there. This year the fertilizer sector in Brazil has crashed and HmI sales to (competitors also hit…), SP reflects that. If they can’t get sales then like any company you have to ask is there a business there?
It highlights why most mines and certainly those with anything but a small Capex requirement need offtake agreements before the build will be funded. Financiers need proof of sales basically,
Pitombieras is only getting funded by offtakers. Why we’ve been waiting so long… With offtaker agreement there wouldn’t be sake issue here though..
This is simple stuff. Make an effort to understand it. Lazy to blame BOD and not know the underlying issue, PIs that do tend to make same mistakes at different companies with different BOD. Instead know the business. It’s what I’ve been discussing for years, but feels like falls on deaf ears!
Look at latitude and Valore SP graph. Simply combining the market cap totally ignores,
A) the legacy latitude share count, it wasn’t a new co formed for angilak
B) latitude placing to fund their exploration
C) the placing at Valore to fund work at Pedra Branca
Latitude in particular might go in a good run now with uranium market being hot, so at somepoint the value might exceed the total Jangada got, but even if does it could hardly be foreseen when Jangada sold years earlier, plus we’d have placed.
I’d really like to see Fodere updates soon on their own operations. I’m very confident they’ll be demonstrating the investment made in them will be very valuable and in the not too distant future. Their S Africa plant fully funded by a development bank is now going to be 5 times larger than initially planned! The lack of engagement from them as well as their delays is actually more frustrating for me than waiting for pitombieras, which I appreciated would take some doing the test work.
Jangada sold their Valore shares at 30c plus, they’re now at 6c. The small rise in price of latitude uranium from the spin off from Valore doesn’t even begin to cover the difference between 6c and 30c!!
We’d also have had a placing by now if we’d just held the Valore shares…
Brian actually done well in selling when he did, both for price and when liquidity to do so.
What is to be seen is whether spending £1m on bres was wise or if he’d have been better off conserving Jangada cash.
I understand frustration on both SP and lack of updates, but BOD bashing for sake of it isn’t going to help. Phone Samaritan’s instead
Double up, private joke from me.
42 - the answer to the Ultimate Question of Life, the Universe, and Everything.
Even giving that to holders they’re still friggin clueless and miserable. I can’t beat the answer to that question, so no point posting anything else
Didn’t realise it was circa 15 years since any major (assuming non artisanal) mine built in Tanzania.
With regards to last paragraph, certainly hope they do help!
https://www.miningreview.com/east-africa/lindi-jumbo-tanzanias-first-graphite-mine-on-track-to-production/
New tax year in Australia. Maybe some holders based over there doing whatever their equivalent of bed and ISA is… Possible any such holders might have been selling for tax purposes and if such those sells at least should stop now..
Difference in promotion.
Have EEE CEO calling 5% tio2 as high grade and really promoting.
At Jangada with Tio2 at 9% along with credits for vanadium (0.44% grade) and iron ore (45%) we have Brian trying to suffocate any interest in our project!
Fodere with tio2 at 32% along with vanadium at 1% grade also with poor PR (although they’re not currently listed) including no presentation on their website.
Frustrating and easy to forget just how high a quality our asset is in grade and the potential of fodere, not just in their S Africa Witibank operation, but in having the rights to their propriety technology in S America!
Approaching 11mths since last set of Fodere updates, hopefully it’s the financing/offtakers aspect that’s announced next and soon. Sure we’d all like to see some published information for the market…
F79 - still hold Arcm, position size fluctuated through years & story/hopes changed to. Hopefully not long now into licence gets properly drilled though. Sick to death of discussion on the deal & when completes!
Understand what you mean about easier if copper, I’m sure you and hopefully some others on this board will find researching new area exciting and hopefully some of my comments help start the prices off. If you’re in contact with some of the Arcm long term holders I’m sure they can point you in my direction should you want to discuss tio2. Best wishes
F79 - no probs, you’re a voice of sanity on the Arcm board which I refuse to post (left the playground years ago!).
As I posted earlier if you google minerals sands you’ll come across a number of miners in the sector or pigment producers. Read through a few of their presentations helps give some guidance,
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Best result for you guys would be Ilmenite and other commodore which can be easily separated in the same ore. Start getting decent grades of other commodities then you could be onto something special, fingers crossed for you the wider deposit does include such pockets.
Ilmenite is by far the mot prevalent form of tio2, think it’s circa 9 times more common than rutile. Ilmenite has tio2 intent in the region of 50% and it’s very energy intensive taking out the iron also contained within Ilmenite to produce high grade pure tio2. This high energy (and acid) use o reason for such a difference in pryce between Ilmenite and pigment grade tio2.
Rutile whilst far less common has a much higher tio2 content. That of course equals less processing and therefore it’s more valuable than Ilmenite. I’m less read up on rutile, but off top my head believe prices vary between $1k-$2k per tonne, so at 5% tio2 $50 -$100 per tonne. I’d be very very surprised if it’s rutile though (as it’s so much rarer), perhaps though mix of both which would help economics.