The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
If we're going to 3p-5p within a couple of years, buying anywhere between 0.3p-0.5p makes sense to the longer term investor. The minor fluctuations within the current band are only of daily interest to the traders among us.
Well done nookie. If you are brave enough to hang onto the coat tails of the obvious traders in our midst and follow their lead. I'd be too scared of an unexpected event sending the s/p the wrong way tho...
For once you're right Mr008, they're confusing the previously stated gold quantity expected for the whole of the region with that which may be found within this newly discovered continuation lode at just one mine. Sloppy sensationslist reporting (some posters here ought to apply for any vacancies that may pop up at these papers!)
Once again, Bluejay have 4x more ilmenite than we do with scope for more, loading bay and workers cabins, EA passed, offtake agreement signed, processing plant in Quebec, projects in Finland. They are ahead of us for now with proven assets so there's no reason our Mcap should be anywhere near theirs just yet. Once gold starts emerging from Clogau and we prove up more ilmenite under the permafrost plus get some jorc numbers for Amitsoq, it should be a different matter. Patience...
@MPO818 - swiftly followed by the bestseller novel/film "How Gold was my Valley" :-)
Yes, considering titanium is on the critical minerals lists of Western countries, they've been a bit slow off the mark in cornering this particular supply. Perhaps Trump had plans to invade which have now had to be shelved! :-)
Bluejay "...has signed a Master Distribution Agreement (the 'Agreement') with a large, long established Asian Conglomerate with global interests in Metals and Mining (the 'Firm') for the sale of up to 340,000 tonnes per annum ('tpa') of ilmenite from the Company's flagship Dundas Project, Greenland"
HH legal hurdle overcome, now our neighbours progressing well in Greenland. One more wheel on the wagon (Amitsoq) and we'll be hurtling along unstoppably. :-)
I think we now know the reason for the recent s/p turnaround and uptick - newspaper reporters tipping off friends and family ;-)
ocelot - I think it's just sloppy reporting. Under the headline it says "New lode could be up to 500,000 ounces in size - worth about £700million" then a bit further down "It is believed there could be as many as 500,000 ounces of gold in the area..."
My own rough calcs suggest around 80k ozs for the new lode alone which is still equal to all the known gold mined there historically.
If Outrider win and we finally go under I suppose we'll have to let them have the pipes, pumps, portacabins and all the tools and wellybobs they can lay their hands on out in Georgia. Might be a bit short of $40m tho...
Look at some of the current posts on the Bluejay BB regarding finance, offtake partner and expected future revenues for Dundas. They're talking profits of $70m/yr and Mcap in the $bns.
I think medium to long term we could be at multiples of where we are now but things take time and rarely go smoothly. I don't think the s/p would have got over .5p without the multiple ramping posts of certain individuals. Most likely just traders talking up the s/p without a care for those getting spiked. Now we're 30% off recent highs I hope noobs can finally see they have been misled by their constant positivity. However, it's not a time to panic IMO, just be patient as good things could be just around the corner.
Two promising points to note - the quartz was found 1.5km from Clogau so the zones may extend intermittently back to the mine and also the opposite direction. Also they begin from surface so future mining can begin without having to remove too much overburden (planning permission allowing)
Looks good on paper but the previous production from the pilot plant wasn't great and it fizzled out after a few weeks. We will have to seriously implement a path towards increased production if we are not to appear as simply bluffing. Otherwise it seems AA are not prepared to pay big bucks just yet, and why would they until a decent resource is confirmed?
Actually having re-read the RNS I'm probably reading too much into events being orchestrated by higher powers, but still EH's appointment can surely only be positive for securing adequate funding in future?
I see Bluejay mentioned that because ilmenite is a strategic asset they are expecting the fund raising process to progress the project to be smoother than usual as the powers that be want to secure future supplies. I wonder if EH has been brought in as a big gun to facilitate that side of things on the advice of higher powers? (but would we thereafter be a company supplying raw materials for the arms business, and perhaps not quite ethical?)
Just in case the LSE admin are in the pockets of foreign entities bent on supressing anything remotely politically sensitive being posted here, might there be another way to distribute posts that are likely to be deleted? Email or whatev? LSE seems to be a waste of time if they are mostly only going to allow frivolous banter and fairly incomprehensible legalese of the myriad court cases to be posted.
Hopefully Zambia will remain safe and mining friendly. I've heard it said that Africa is like a chess board, with safe, business friendly jurisdictions often adjacent to corrupt, hostile entities that are best avoided.
At $100/tonne in the ground undeveloped cu eq. sale value it ought to have gone for around $2bn+ IMO. Must be the DRC discount, our gold venture there went fairly cheap too.
eimaj616 - I think you're right, if so that's scary cheap for around 20m tonnes of cu eq resource. I guess not many want in on the DRC with warlords running around?