Member Info for Dcat80

Https://www.bloomberg.com/news/articles/2023-10-20/china-strengthens-export-controls-on-some-graphite-items?leadSource=uverify%20wall

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

It’s accounts…. They’re a backwards looking statement and not an operational update, which will follow when there is an update!!

Why thank you sir, one of the nicest things said on this bb for sometime.

Your answer also would serve as a good distraction whilst we await news

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

42

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/

Wouldn’t be surprised if a new acquisition or progress on fodere own plans lands first.

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,

.

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.

F79- there are 2 hard rock primary tio2 mines in operation currently. Lac Tio run by Rio which grades circa 35% tio2 and the Tellnes mine grading 18%. Almost all other Ilmenite production comes from mineral sand operators.

Minerals sands have a benefit in that as eroded rock it’s already at particle size which can be easily separated from other material. Hard rock deposits have the cost of mining taking into consideration strip ratio, the ore then needs crushing & milling before going through separation. In short grade has to be higher than mineral sands than due to higher costs.

5% tio2 grade will likely be 10% Ilmenite (it’s the most abundant source of tio2). Ilmenite at $300 per tonne means ore grading 10% Ilmenite has value (at 100% recovery) of $30 per tonne.

It’s highly unlikely that a deposit grading just 5% tio2 in hard rock will be economical, there just isn’t the margin when you factor in mining and processing costs.

You do raise one very interesting point though. That’s in there might be other minerals present. If there is ore which contains 10% Ilmenite and say 0.5% copper those minerals might be amenable to separation (gravity possibly likely with the specific gravity of Ilmenite circa twice that of copper bearing ores), giving EEE west you might call double bubble.

If you want examples of deposits that include multiple commodities including tio2 then you might want to look at VTM deposits and other such ilks. It’s not quite as straight forward as pure copper plays etc as you need to be able to separate the minerals from each other, however if nothing else it’s interesting part of mining to read up on.

Bedhead - if Tio2 is new to you then I’d suggest researching minerals sands, it’s such deposits which form the vast majority of tio2 feedstock. You should be able to find fair bit just by searching on google, however to start you off Ilmenite had tio2 content of circa 50% & price per tonne of currently circa $300.

Mms trying to hold it back, only allowing 10k but at time without order. Hopefully get a decent move and back into 4ps soon.

Remember can fill and kill order for 30k shares at quoted ask…

Mesb- if you’re on other platforms you can DM me then drop me line there. Few other items you might find interesting on fodere side of things.

Mesb, thought you might recognise part of it. It’s the results from Evraz material carried out years ago before they purchased 44million tonnes of the material and spent years on permitting.

They had sent pilot plant at one point to the USA, that was prior to Jangada getting involved and sure there’s an article or two online if you look, think even posted here before.

No idea where it’s been since USA, prrhaps decommissioned & put in storage. Maybe the one in kitwe is the same one put back together. Either way it’s been a particularly frustrating wait for any Pitombeiras material to be tested, but it is now finally happening..