Member Info for Jeremiah99

$10,000/oz gold would just mean the $ will have been devalued down to that level. Anyway, do they still have the gold at Fort Knox to back the currency? Since they stopped doing audits on the metal there years ago rumour has it that the gold has long since been sold off.

Bluejay say the sands run for up to 30km so plenty to go around for decades to come.

I think you mean graphite rather than lithium? It's hard to find evidence of how much was mined historically at Amitsoq but it doesn't seem to be more than a couple of hundred thousand tonnes. I'm hoping a successful drilling campaign next year will show that some of the outctops run far and deep, and that we can scope out much more.

Bluejay's main asset is the Dundas ilmenite sands project though they have a mine in Finland and other exploration targets in Greenland. They have 4x more ilmenite than we have, a loading facility and a rented ilmenite processing pilot plant in Quebec. They think there could be up to 785Mts of ilmenite bearing sands on their patch. They are much further along with the local planning and environmental permissions etc. All of which is why they are valued much higher than us at the moment, though we should begin to realise our own potential incrementally as and when our assets are proved up and bureaucratic hurdles are overcome.

Maybe it's the oft mentioned Russian propaganda machine in action? I think they will have been ever present monitoring this BB over the years since it is an important geopolitical asset we are dealing with. Perhaps a poster or two has been working for them all along? The Georgian elections fall into the same category of being a sensitive subject for the Russians. If true that they frantically try to influence opinion regarding US and UK elections, then they would certainly wish to do the same to try and cling on to one of the old Soviet regions on their own doorstep. I hope admin here are not just naively complying with deletion requests for no other reason than the simple force of numbers...

Mark Austin mentions historical grades of 17gms/tonne @ 1:32. Still good...

I doubt there would be hundreds of thousands of tonnes of rock to shift. This isn't bulk mining of millions of tonnes of ore, it's chasing veins of gold bearing quartz which may be less than a foot thick in places though they may extend hundreds of feet through the host rock. I personally would expect a couple of trucks of spoil a day which could be transported at night, but as ff says, it's all mere speculation until we really know what's down there.

I seem to remember the grade was 26gms/tonne at Clogau but don't quote me. The current mine should give a steady if modest profit but it could be that the bigger gains may be in the new outlying areas, assuming we get permission to mine there in future.

There has been some dilution at pretty low prices, but hopefully those days are behind us and we find enough gold so we can raise any needed cash after an upwards rerate.

Yes, otherwise how can we make an informed opinion on whether to accept their 50p+ a share offer? ;-)

@johnycash "If everything lines up I can see 4-5p in a couple of years." I stand by that - notice the extended timescale, the reasonable s/p target and the caveat 'if'. It was the multiple hyper positive posts with fantastic short term s/p predictions that helped push the s/p up and trap people on a spike that irritated me. No doubt the MMs employ their shills on BBs to help move the price in their required direction. Things never go to plan, covid has set nearly everyone back and had HH delivered a CPR as
good as was expected I think we would already be in the pennies s/p wise. So it would just be good to see a bit of balance in posts. If I am wrong and the s/p rockets to 2p or summat by Xmas I will happily eat humble pie.

It's a lot quieter now the professional rampers have done their work and left the building with dumb noob investors now holding the baby at over 0.50p

https://www.zambiawatchdog.com/british-businessman-accused-of-stealing-mine-in-zambia/
Bang him up, er, once we've got our royalty ringfenced. Eric always said he was a wrongun..

For once among the miners in my portfolio, it's good that they can crack on through the winter at Clogau without the weather intervening too much. The Greenland winter holds up work for 6+ months, I have a miner in Nevada that struggles at the same time plus even a promising copper explorer in Zambia that has to down tools as they can't get around to drill due to the mud of the African rainy season. What's a bit of sweet Welsh rain in comparison?

Some were saying the equipment was going to be installed this month, so to hear it's only just been ordered and likely to take a while to arrive given the distance and the pandemic, will cause the more impatient to exit. Always best not to over promise and then under deliver.

The drop is to be expected IMO. I'm guessing the lack of any mention of BONANZA gold grades has disappointed a few.

IMO good grades plus media coverage will get us over 1p and perhaps a spike towards 2p? 1p+ ought to stick but the real rises at Clogau will be if and when we find more gold in the outlying areas and go on to get planning permission to mine there. Who knows how long that may take though? In the meantime a good drilling and scoping campaign next year in Greenland ought to boost the Mcap nicely. If everything lines up I can see 4-5p in a couple of years.

https://www.mining.com/web/were-a-long-long-way-from-running-out-of-gold/
Interesting view of current gold production rates and how very low grades (0.45 gms/tonne) can still be profitable. Makes our
expected 20+gms/tonne look phenomenal.

A quick Google (came up with a Sheffield Resources mineral sands pdf) shows ilmenite at $220/tonne, so if true we have almost £300m worth sitting there with probably more to follow with further drilling and opening up the resource currently held in permafrost. It's very likely we have over £1bn worth of mineral and PM assets in total, IMHO. We just need to get them proved up and sold on or developed then it's happy daze! :-)

Bluejay also have other assets, some in Greenland and also in Finland. It's probably better to try and get a handle on the value of undeveloped JORCd assets as we are likely to sell them on rather than mine them ourselves. I'd expect the iron ore to be no more than a couple of $/tonne but of course if you have tens of millions of tonnes, it quickly adds up. Same with ilmenite, but I don't have much of a clue how much it's worth in situ. I think it's probably double the iron ore but that's only a guess, but again once you multiply that by millions of tonnes the numbers start to look very appealing.
With gold, completely undeveloped in situ ozs can range anywhere from under $10 (warzone in DRC) to $200+ (good grades, near surface in stable mining friendly jurisdiction) I'd argue that we should exceed the top of that range as we have a workable mine for some of the resource and an end product which commands a market premium, though a negative is being situated within a national park. Imagine one day getting planning permission for 500kozs at in situ sale value of say $300/oz? For the mathematically challenged, that's 2p a share as a straight up sale, and obviously more profit if we chose to mine it ourselves or in a JV. Then add in Greenland...