Just read this:24 Oct 2019 15:23
Information posted on the ADVFN share chat :
Original Research: Bluejay Mining plc - From First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Bluejay Mining plc
Company: Bluejay Mining plc
ISIN: GB00BFD3VF20
Reason for the Study: Inclusion of the Coverage Target Price: GBp 21.8 Target
price on view of : 12 months
Latest rating change: -
Analyst: Simon Scholes, CFA
First Berlin Equity Research has taken over the coverage of Bluejay Mining plc (ISIN: GB00BFD3VF20). The rating given by the analyst Simon Scholes is BUY with a target price of GBp 21.8.
Summary:
We visited Bluejay's flagship Dundas Titanium Project in northwest Greenland a few days before shipping a 42,000-tonne ilmenite bulk sample (Ilmenite is a titanium-rich mineral) to Canada for concentration and subsequent assessment by potential customers, including Rio Tinto. During September, Bluejay submitted to the Greenlandic authorities a permit application for the project, which included a full pre-feasibility study. The homogenous, high-grade, coarse-grained and weathered nature of the Dundas ore body simplifies recovery and, despite the harsh high-market operating environment, is expected to have a bright future for the project. Our recommendation is buy with a target price of GBp21.80.
First Berlin Equity Research has initiated coverage on Bluejay Mining plc (ISIN: GB00BFD3VF20). Analyst Simon Scholes' rating is BUY with a price target of GBp 21.8.
Abstract:
We are viewing Bluejay's advanced-stage flagship Dundas Titanium Project in Northwest Greenland a few days ahead of the early September shipment of a 42,000 ton bulk ilmenite sample to Canada for concentration and subsequent evaluation by potential customers including Rio Tinto. Later in September, Bluejay submitted a mining license application for the project, including a full pre-feasibility study, to the Greenlandic Authorities. The homogeneous, high-grade, coarse-grained, unweathered nature of the ore body at Dundas simplifies extraction and suggests a bright future for the project despite the harsh high-arctic operating environment. Our recommendation is Buy with a price target of GBp21.80. In this initiation of coverage, we have not modeled any value, which could prove considerable,
Regarding the obligatory information acc. §34b WpHG and the disclaimer, see http://firstberlin.com/imprint/ or the complete analysis.
The full analysis can be downloaded here: http://www.more-ir.de/d/19239.pdf
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