Member Info for Rambo23

Bobby that’s true but it’s only interesting if it’s relevant and half the rubbish tonight simply hasn’t been. Onwards and up :)

Hi Hull, thanks. I'm aware of that i just highlighted for others benefit as many get freaked out at seeing trades in red given some of the comments these days as they aren't aware that is how it works. Enjoy your weekend and thanks for your sharing your views this week.

309k shape is showing as a sell but is my purchase

and Hull i believe Gobind said £100m AUM would = breakeven currently. Agee?

Wise words Giles. I have been invested in Algw for over a year and followed this for a few months prior to investing. Been adding recently as I expect the coming months will deliver positive results and this will be reflected in the SP eventually. I don’t post often simply because of circumstance / daily commitments but try to follow activity. I try to read everything available to make an informed decision otherwise it’s really is twist or stick and some of the people who roll their lives into one company are crazy. I think when you cut through the noise and personal squabbling on these boards which often seems the norm there are some who have genuinely interesting points to raise another positive is people share interviews, research docs etc that you wouldn’t necessarily be notified of and I don’t think companies do enough to communicate for example ‘Today we released an interview with XYZ’ and often aren’t good at updating their websites etc. Anyway onwards and up good luck.

Took one for the team and bought another 550k recent shapes 176k, 152k and 221k @1.42.

@giles & Hull thanks for your ongoing opinions and feedback to the group. Patience should be rewarded.

Good news they have sold a light system for €50 million should see this fly today and the timing of my previous message now even more relevant.

How long do you think it will take from the point of order for another machine to be built and delivered to a customer? This one is taking a long time now and the key will be demonstrating it works then selling more and getting them up and running. Anyone got a view on this? Thanks

4unme, thanks but my angle here is this SP has rarely reflected the value of the asset and there isn't any revenue. So my question to you is if you were a Rio, based on what data is available today to us what methodology would you use to work out a realistic valuation of JAY on the assumption you were looking to do a deal off take or outright bid? I have asked this as it is easy for shareholders to get excited about possible valuation numbers but the limiting factor will be what someone is prepared to pay for it just like when you buy a house. Unless there are multiple bids I can't see them over paying for the sake of it (ie for undefined resources yet at JORC status) so I go back to my question what is the methodology you would use if in their shoes to determine a valuation and a price you would be prepared to pay for it. For example X million JORC resource tonnes times by Y price for the resource still in the ground and before costs less a % discount? I'm just curious to see what peoples expectations are here as then an indicative SP can be calculated based on a more likely conservative approach looking from the RIO perspective. Hopefully more positive news on the way. I liked the Disko update and the point made around engagement with 3 parties for strategic partnerships. Time will tell.

4unme - what is the methodology you are using to determine the SP numbers you mention out of interest? Rio won’t over pay on any deal in my opinion as they probably won’t need to plus although the resource is likely to be much bigger than the declared numbers today there is still a lot of work to do to prove it up. Exciting few months ahead

Slide 7 of the presentation states

‘Revised CPR post EWT to reassess volumetrics given oil discovery and better than expected reservoir parameters’ - what’s the understanding here? No CPR until after WN EWT or they plan to release CPR before starting EWT and then revise again based on EWT results? Some seem to been saying CPR imminent but if option one here that seems a while away.

Either way seems like we are going to the next level soon. I like what I’m seeing. Onwards and up.

Does anyone have any idea how long it would take to build a second machine from scratch and deliver to a customer when an order is placed? It would be good to know what the expected timeframes / lag times are in this regard given the patience of investors so far. Been in this for years now but seeing some revenue from deposits would be welcomed right now.

Hi Daramuda, sorry for the slow reply. Thank you for your feedback. I would assume that if any agreement stated terms including options to purchase and volumes etc then Bluejay wouldn't sign anything that might exclude them from dealings with other parties until a mutually agreeable price was on the table otherwise you lose all your leverage and that would be bad negotiation.

I agree re your reference to an earlier bulk sample which I believe they would have sent some to Rio. At least things are moving forward and hopefully the next few months will provide more clarity on the missing details and future for Dundas.

Hi Max, thanks for the feedback and your thoughts that was very helpful. I have listened to as many of the interviews as possible and was lucky enough to hear the entire recent Vox one that was 20 plus minutes long, put up for a day then removed and released in small parts over the last 6 weeks or so. Not sure if anyone else noticed this on the day of release.

Those indicative numbers that you and Raaydar have put forward were in the same ball park as my initial thoughts.

Just to be clear when you referenced $3-$4m were you saying per year or this payed over the a 10 year terms so 3-400k a year? This being the management fee with the performance element to be on top?

It should be an interesting day tomorrow.

Hi Max, for some reason it’s not allowing me to reply to one of your earlier comments re your 30p post....at the time did they provide any detail on this eg timeframe to achieve this ambition and what AUM and associated revenues would be required to get there?

Do you have any idea how much expected revenue would be generated off a given AUM for example 100million that could be used in any indicative valuations?

Previously Gobind has said the company would charge a management fee and get a performance related fee. The latter i appreciate is unknown. Have you seen any visibility on this? Thanks

I have tried 4 times to post a reply to the last message from Max but it isn't posting. Anyone else having this issue today?

Daramuda re the other half of the bulk sample. I see this is most likely about leverage. Does Rod ideally want to be in a position where the cash position is low early next year and Rio are aware of this, the exploitation permit being granted and possibly be left with a low ball offer from a single player for potentially millions of tonnes of illmenite? He needs to try and get another player involved to extract the most value. Just as in poker this can be real or a bluff but he won’t want to sign up to a low ball offer or raise money and possibly dilute his significant holding as preferred options. Therefore second half of bulk sample could be used for another interested party or another test with Rio if needed. I agree Rio seems like the logical option but will they pay a fair price if they have no pressure to?

In your opinion what’s Dundas worth if you were to make an offer? Tough one with still lots of unproven potential in the license and something which isn’t being increased this field season as per Rod. Remember when you buy a home and people say what is it worth remember it’s only worth what someone is prepared to pay for it which could play to the advantage a single suitor. At a minimum we want offtakes with Rio and others then dev the site. Just my thoughts but it’s looking positive as the ilmenite is still sat there ready to be monetised

Miker444 my view on this based on what we have heard before from the company is that any oil will be prioritised as it takes much less time to monetise providing much needed revenue to the companies involved. The gas requires some different infrastructure post the EWT to extract and distribute vs the oil which is much easier. Remember the word condensate as we may hear more about this soon which is essentially a mixture of gas and oil so if that flows the answer to your question is yes but my understanding that any significant gas and oil layers would be treated independently and therefore extracted separately as it is more efficient to do so longer term. I believe this is why they plan to drill the cadeby formation from the other well. Drilling a new well or two will be exciting as that will hugely improve the revenue generation. Very excited about the prospects here

solid progress. Any ideas if they have formally applied for the exploitation license yet if not what is the timescale here? Surely it is best to submit it sooner rather than later.

Patience will hopefully be rewarded here.

Thanks Badger that makes sense. Appreciate the detailed explanation very helpful