focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I understand that they haven't done a lot on Dundas for a long time but if they raise capital and don't deliver a BFS for Dundas (which they have committed to) they will literally get sued for fraud. Let's see if they deliver the BFS, after all it's just a document.
Agree, Disko will be the real driver of SP here. Even if they have half or a quarter of what they think they have its going to be immense.
- Dundas BFS (Nov/Dec 2022)
- Disko Survey and Drill Targets (Sep / Oct 2022) & Drilling... (finally in late Q2 2023)
- Kangarlursk Mag surveys (Oct/Nov 2022)
- Enonkoski drilling results (Expect Dec 2022 - Drilling and surveys were conducted in Q2 although there have been assay backlogs)
They are still completing the Bankable Feasibility Study. The one upside that will offset inflation is the fact that ilmenite spot prices per the PFS were about $210 / tonne whereas the current spot prices are around $360 / tonne so there is some leeway to offset the inflation using an update spot.
Haven't given up... There is just nothing to discuss, the markets are still down and BJay aren't releasing any news worthy info. Correct me I am wrong but we are expecting later this year:
- Dundas BFS
- Disko Survey and Drill Targets
- Kangarlursk (apols on spelling) Mag surveys
- Enonkoski drilling results (although no announcement was made re: drill start)
"Established in 2015, Sand Grove uses deep value-based research to invest opportunistically across large and mid-cap special situations deals, focusing predominantly on equities, as well as trading bonds and other asset classes in certain instances."
Just over 15% of Bluejay now owned by these guys... Who knows maybe they will push for some sort of merger or maybe they will start making life difficult for the existing board.
Funding is likely to be arranged post the Bankable Feasability Study (BFS), which they raised 7m for when they also fake announced Disko drilling. The BFS was required by lenders. Likely Q3/Q4 (probably Q4) for the BFS post which funding discussions will be held for Dundas. I really hope we don't lose another season in 2023 and they secure financing ahead of Q2 2023 to start Dundas construction in next summer.
Well we have Enonkoski drilling in Q2 and also the "start" of comprehensive exploration at Disko upcoming so not nothing but won't move the dial that much. They need to get a move on and get the BFS out for Dundas and lock in Financing. That will move the dial.
Yep and he is looking for producers not development companies. My guess is he would want Lithium i.e. a company like Nevada Lithium or other metal producers close to his supply chains. Zero chance of him going for something like Bluejay (not production) and nearly sure TiO2 is not in his agenda only Copper, Lithium and maybe Nickel.
Hmmmm bit of a non-announcement for Enonkoski - am sure of they found anything substantial in the assays they would have being blowing their own horn but atleast they are doing more drilling.
"Based on drilling and assay results and the continuous evaluation of historic and new data from the entire belt, the exploration activities are being continued. The assay results from the drilling in 2021 and from the reference sampling of historic core highlight a zone of pyroxenite in close vicinity of a sulphide droplet zone identified by the Company in previous drilling southeast of the closed mine. Planning for the upcoming exploration programme is ongoing and preliminary plans include up-to 1,500 metres of diamond drilling, up-to 60 ToB drill holes, downhole electromagnetic surveys, geological mapping and sampling to be conducted in Q2 at several target areas on the belt. Final decisions on possible ground gravity surveys will be made based on drilling results."
The more exposure the better to broaden the shareholder base :-)
One thing though, KoBold may have all the boffins and PHDs in the universe to acquire, analyse data and interpret data but the market likes certainty not theory. Until we drill and find the Nickel, Cobalt etc then we aren't going anywhere very fast.
On a different note, I wonder how the latest debacle affects the Kobold JV expenditure:
- End of 2022: Kobold to solely fund $3.4m for the implementation of stage one (Not sure they will be spending this much this year without drilling)
- End of 2024: Kobold tp solely fund $11.6m in drilling expenditure or 15 pre-agreed holes within the licence area (Anyone have an average cost per 1000 metres of drilling?)
Kobold are not starting drilling this year... That was unexplainably moved to next year a mere 9 days after they announced that it would be happening this year. Trust me there would be plenty of excitement, if the Bluejay BoD hadn't pulled the rug out from underneath everyone and Disko drilling was gonna start this year!
IMO, if you can get in at the low 7s late 6s you should be ok, but be prepared for a lot of being annoyed with management and ridiculous delays. Still hoping Dundas gets the financing late this year / early Q1 next to begin construction and hopefully the long awaited Disko drilling next year.