Member Info for elir71

registered market makers quoting 5p bid 6p offer

correction to calcs
"contrib to sp now 0.5p" should read "contrib to sp now 0.05p"

@Jeremiah
its all in the document i wrote late last year. Search through my past posts for the googledrive link. The benefit with TBS is that we have Bluejay's Dundas project right next door. Check their website out, especially their gallery. I would point out that very good rates of finance (debt as opposed to equity) was raised upon signing an offtake agreement. The value of their resource is well documented in their accounts.

@Moodyboy ... well spotted ... we need some comms from the BOD now, confirming that they will resume exploration in Greenlands TBS and Amistoq

Yes, a tree shake, means they're low on shares

The fundamental value with risks and timescale do point to 0.7 to 0.9, in its current position, but assuming amistoq and tbs get explored this season.

Crude Oil Assay

https://www.amspecllc.com/wp-content/uploads/2017/09/9-techtalk.pdf

2 to 4 weeks for this process.

the **** is s l a g without the spaces

Battery Grade Graphite Price
High-purity, high-cost synthetic vs natural graphite
Synthetic graphite currently trades in a range of c US$10,000/t to US$20,000/t dependant on purity, whereas natural, battery-grade sources fetch in the region of US$5,000/t.

according to edisonreasearch
so I'd run with the US$5000 / T estimate

http://mima.geus.dk/wp-content/uploads/MiMa-rapport-2016_3_Critial-Minerals-in-Greenland_med_om****.pdf
mentions a 20% graphite to ore content
whereas the RNS states

" the graphite content of Amitsoq ore is very high, amongst the highest found in flake graphite deposits globally;
- it is possible to produce a >96% graphite concentrate from Amitsoq ore; and
- Amitsoq graphite appears to be suitable feed material for Lithium-Ion Batteries ("LIBs"), the fastest growing market for flake graphite globally.
https://www.focusgraphite.com/technology/

I had originally used the following parameters in my calculations

Until I hear differently I will work on 50,000 T graphite

I further apologise for the error in the pricing for the top grade battery ready graphite, the second hyperlink is to more recent prices. Battery grade flake is going for US$5000 - US$20000 per Tonne
I dont know what proportion of Amistoq graphite is "battery grade flake"

So ... worst case scenario 50,000 T of Graphite @ the proportions noted before at non battery grade prices

Net Present Value using NPV10 and a 50% ratio to equity
Pre JORC (now) £ 3.1 M (sp contrib 0.5p)
Post JORC (within a year) £9.3 M (sp contrib 0.15p)

Mid case scenario 50,000 T at lowest battery grade rate US$5000 /T
Pre JORC £ 16.7M (sp contrib 0.26p)
Post JORC £ 50.0 M (sp contrib 0.79p)

Best possible case all of it at US$20,000 / T
x 4 the above

by Bo M. Stensgaard, Henrik Stendal, Per Kalvig and Karen Hanghøj estimates the original ore body at Amitsoq is around 250,000 tonnes of graphite

I believe grade is between 20 and 28%

@Anglesey, indeed, restoration of shareholders rights of pre emption should be a priority. Hopefully GF wont even seek to extend those rights. I can see why they were needed last year, but they should be looked at as "emergency powers" not a way of running a company in the long run

@25wbh
Thats about the value of it in the sense that if you added up the entire resource and summed its value he's about right, however, thats not factoring time, risk, cost of extraction, capex for processing, licence fees, royalties, cost of finance etc etc

2 x £11k sells, probably the same person, snaffled up in minutes
All market makers in a flat 0.35 line at resistance
support solid at 0.30 one MM at 0.32
pretty much a blue day, shame the micro trades can't be filtered out for clarity

Where do you see this going if Greenland announces on Monday that travel is to be lifted ?

@Ricardo
there's very little I state that cannot be backed up by credible sources. I put a fair amount of effort into researching the fundamentals of this company in late December. I'm happy to for you to "peer review" my work, but I'd thank you for having the same degree of detail and dilligence in any criticism you have of it.

Some graphite prices sources.

https://www.mordorintelligence.com/industry-reports/graphite-market

http://www.northerngraphite.com/about-graphite/graphite-pricing/

I believe I calculated the NPV of the resource post JORC at £30M
which is not the same as the sum of the value of the mineral in the ground, immediately levitated to ground level and delivered to the factory gates.

Assumptions made are 10% discount rate
Mine life 10 years starting 2023
Capex all in 2022 £10 M ? total guess
NPV10 / Equity 50%
JORC / pre JORC = 3
5% rise in sale value for 5 years
(source https://www.mordorintelligence.com/industry-reports/graphite-market )
5% rise in operating cost initially £20 / T ? guess
Pre JORC valuation £10,324,675 , a 0.16p contribution to share price <- i.e NOW
Post JORC valuation £30,974,026 (Dec 2021, assuming all goes well), a 0.49p contribution to share price
as all IS going well then there's no reason not the believe the above line that I can see. The only elevated risk factor has been a less mineral exploitation friendly government recently elected.

https://docs.google.com/document/d/1xxuXY7-LZ-u78JtnD_llFt5vsEBA5eMThJcBj58Ck_g/edit?usp=sharing

my bedtime reading last night included this little gem ,

Hall (1975) notes reports of extremely rich parts, which were ‘…so rich in gold as to be simply quartz held together by gold’

https://bluejaymining.com/wp-content/uploads/2020/12/Hannam-Partners-Equity-Research-141220.pdf
there's an interesting research note on Bluejay. Their core project is Dundas, a similar resource to TBS, but it is further advanced as they have JORC and now finance in place having reached an offtake agreement with RIO (since the research note was published). I think the valuation of that resource is US$ 268 M so about £192 M

There'd be a need for some basic processing , a simple terminal to load ice class handysized bulk carriers. The season is limited for mining and even more so for shipping but apparently processing is possible most of the year round (according to GF, bear in mind most of the year in its strictest sense means 6 month and one day or more)

I for one wouldnt mind chipping in for a discounted placing to make sure that the sonic rigs get there asap. I think we're 2-3 years behind bluejay here.

The sonic rigs are for penetrating the permafrost at Thule Black Sands Ilmenite Project
The previous drilling could only prove the sands above the permafrost, I think on a 120m grid pattern
I think they only got down 2-4 m depth until the permafrost
Enough to declare a maiden JORC, however the quantity of proven resource was limited to that depth.
There's about 20m depth until sea level so theres likely to be 5 or 10 times the resource there.

Amistoq doesnt have permafrost as its on about the same latitude as "sunny Cape Wrath"

so it goes something like this
Pre JORC valuation £10,324,675 , a 0.16p contribution to share price

Post JORC valuation £30,974,026 (Dec 2021, assuming all goes well), a 0.49p contribution to share price
(based on a 250 000 T resource, 10 year life of mine, 10M capex)