The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Afternoon accipiter,
The second paragraph of your message is from a previous RNS issued in 2019,please see below and also my comments from one of my previous posts:
Dundas Bulk Sample Completed and Being Shipped
Mon, 9th Sep 2019 07:00
RNS Number : 6250L
Bluejay Mining PLC
09 September 2019
RM (the CEO at the time) then through a podcast interview stated that the shipment had arrived and successfully within the time scale set out.
After receiving this information from a friend who was indirectly involved in these operations but was made fully aware of why such a delay I then posted this on this BB in June 2020
"The ship carrying the bulk sample for testing docked at Quebec in mid October 2019, due to the incorrect documentation being presented to the authorities it then took nearly 5 weeks to resolve this before written approval was given. It then took at least a further 8 weeks before production started in early February, this once again due to the poor Jays Operations management, the pilot plant not commissioned to operational standards for the processing of the minerals"
From a frustrated LTH
To Present Date.
I e-mailed BlueJay and asked for confirmation and explanation on these above events in both June and October last year.
They have failed to respond on both occasions, in fact they haven't even had the decency/courtesy to acknowledge my e-mail with the standard reply of "Due to commercial restraints we cannot offer a comment, however further notifications will be posted in the appropriate procedure (Ie RNS)"
A very frustrated and annoyed LTH.
Jinkar,"10.01k seller for weeks now. Numerous times a day".
I'd also noticed these transactions, and have been watching since your above post on Feb 1st, what is now happening is the sale of £20.01k several times a day (6no already Today.) this started at the beginning of this week, with one /two and has now increased to 6no Today.
PowerfulPete
As a LTH I've(along with many others) already experienced that on the Dundas project, after delay after delay lasting well over twelve months BlueJay were finally, not only granted an Exploition Licence (RNS Number : 4659I 14 December 2020) but also MDA /offtake for this particular project (RNS Number : 5970J 23 December 2020).
At long last this I assumed that this surely must reflect on the SP, it did but in the descending movement.
Personally I've been invested in this company for 3.5 years and by luck I'm still in a positive financial position (+13.5% with a 22% free ride my holding through de-risking and reinvesting on the drop in the early days of my investment),
I would advise any person thinking of investing in this company please carry out a full research before they buy any shares with their hard earned money.
IMO I think this company is getting all their ducks lined up to sell on to one of the big players in the mining industry.
Finally be aware of some of the members on this BB are wearing rose tinted glasses when posting.
Bluejay CEO Rod McIllree said: ‘The extendable 30-year licence allows us to now implement the initial 440,000 tonnes ilmenite concentrate per annum operation and we anticipate reaching a commercial agreement very soon with a large multinational commodities group for Dundas product, allowing us to move further forward towards production.’
Bluejay also announced recently that it has signed a Master Distribution Agreement with a large, long established Asian Conglomerate with global interests in Metals and Mining for the sale of up to 340,000 tonnes per annum of ilmenite from the Company’s flagship Dundas Project.
If I'm reading into this the correct way, can we expect a further announcement very soon (note the word also).
Also lets not forget when the bulk sample shipment was delivered to Jays processing facility in Canada.
RTIT then only took half for smelter test work at their plant in Quebec(see RNS Number : 6250L Mon, 9th Sep 2019 )
Also where is the other 50 % , is it just been stockpiled by Jay or could we find another major company showing interest.
Rns's in December 2020
"Maybe we will get, not only the license approval from the authorities, but also an off take agreement from a major global company but to top it all off the HMRC decline to appeal on the VAT tribunal decision!
I think the answer to the above is here - https://bit.ly/37LpMRG
Pacman you posted yesterday "Exactly 4 months ago we were 17.5p"
It's a good job you didn't say 5months ago!
The shares were 22.50p then.
Definitely worth waiting for, an excellent RNS with a added bonus that they have made the committal to a quarterly commercial update.
Now let's see how the market reacts.
Daniel123111 (Tue 23:18)
"Just sell and buy AVCT.Quickly"
WOW Really :
8 July 2020 :11:16 Sell:127.00p Buy:130.00p -7.50p (5.51%)
Have just noticed these 2 rather large delayed sells:
12-Jun-20 15:46:09 17.5 701,737 Sell* 18 18.5 122.80k
12-Jun-20 15:47:03 17.5 600,000 Sell* 18 18.5 105.00k
Could this be the reason why there's no northbound movement in the SP!
DJP4976
Enjoyed reading your analysis and summary, many thanks for the breakdown.
However your wording of delays of the RIo smeltering test was due to COVID19.
Unfortunately this was not the case, it was down to incompetent Management.
The ship carrying the bulk sample for testing docked at Quebec in mid October 2019, due to the incorrect documentation being presented to the authorities it then took nearly 5 weeks to resolve this before written approval was given. It then took at least a further 8 weeks before production started in early February, this once again due to the poor Jays Operations management, the pilot plant not commissioned to operational standards for the processing of the minerals.
From a frustrated LTH
pacman1
Try Tuesday, it's a bank holiday on Monday
Bakky/CooperD Continuation 2of2
THIRDLY, Gloves. Our brilliant front line NHS, carers, shop keepers and a host of others wear disposable gloves and use them in the correct manner. There called disposable for a reason. You deal with one thing at a time, then take the gloves off, dispose of them correctly, then put another pair on to deal with the second reason and so on and so forth. Keeping a pair of gloves on all day long is fruitless and only transmits any virus you may have picked up along the way, then transferring it to each and every person or thing you then touch ! That’s why the professional advice is to wash your hands thoroughly each time you leave your house or come into contact with products outside your normal environment, ie; bins etc;
FOURTHLY, For our amazing carers in nursing and care homes up and down the country. When your managers Are telling you the government wont supply them with PPE. Quite simply they are horrible lying bastard. These homes are all privately owned and charge anywhere between 3 and 5 thousand pounds a month to look after the resident. They are governed by the health and safety at work act and they are purely responsible for providing not only PPE but the correct items of PPE for being able to do there job in a safe and controlled manner in which to do it. If they’re not providing it. They are breaking the law, purely and simply and are trying to blame others for this, usually the government.
I hope this helps people to understand things that are going on all around us every day and please don’t go out and buy face masks, disposable gloves, aprons or visors. Leave these for the people who really need them. After all, they could be responsible for looking after your loved ones, or even you !
That sums up the TRUE facts spoken and portrayed from an experienced person :Ignore the media
Rant Over