Member Info for schlemiel

Maybe, who knows. When we get funding updates and further offtakes then I'm sure today will fade into the annals of history

https://masterinvestor.co.uk/equities/johns-mining-journal-solgold-and-hummingbird/

depressing, feckin depressing

thanks to Monts12

• There is no listed market for the material meaning that concentrates are normally shipped directly from producer to the consumer often with the assistance of traders.
• Reports from the latest TMZI industry conference indicate demand growth of 1.7% CAGR though this may well prove conservative given the ongoing urbanisation and economic growth in China and increased use of paint by furloughed workers in the west.
• Critically, growth in demand for ilmenite feedstock is making room for new production from Dundas, particularly for high-grade clean material.
Conclusion: Bluejay are progressing quickly through the steps needed to fund and construct the Dundas mine helped by the simplicity of the project and its location next to a deep-water fjord. We look forward to further news on the project financing.
Rio Tinto recently took an option to form a joint venture agreement with Bluejay over the Enonkoski nickel project in Finland and may acquire a 75% interest through $20m worth of expenditure.
Bluejay also has a pilot plant in Canada where it is progressing a 5,000t metallurgical sample for smelter testing.
The value of this sample is around US$1.25m and the concentrate may now be sold given the company has received its exploitation licence.
*SP Angel act Nomad and broker to Bluejay. The analyst has previously visited the Hammaslahti, Enonkoski and Outukumpu mines in Finland as well as Bluejay’s Dundas mine site in Greenland.

end

Bluejay Mining* (JAY LN) 13.65p, Mkt cap £135m – Offtake distribution agreement rises to 340,000tpa following signing of mining license for Dundas
BUY, Valuation 29.4p
• Bluejay Mining report the signing of an offtake distribution agreement with a large and long established Asian conglomerate for up to 340,000tpa of ilmenite concentrate.
• The Master Distribution Agreement covers a minimum 250,000tpa of ilmenite rising to a maximum 340,000tpa for a minimum of five years.
• The price will be referenced to independent industry data for ilmenite such as TZMI pricing less a small handling commission suggesting that pricing will be close to the prevailing ilmenite price at the time of sale. Currently the price of ilmenite is around $240/t and rising.
• Bluejay plans to produce 440,000tpa of high-grade ilmenite concentrate off the beach in Greenland with very simple, low-cost gravity and magnetic concentration.
• Ship loading is via a simple conveyor directly onto a handymax or panama bulk carrier in deep water close to the Wolstenholme Fjord.
• Bluejay made history in 2019 when it moved the most northerly bulk sample from Greenland (see link https://youtu.be/M0751JPXYX8 )
• The ilmenite concentrate is virtually clay free and does not hold water meaning it does not freeze reducing storage and loading costs.
• Optimisation: We expect the optimisation program to have a material impact on key components of the construction and on the valuation of the project
• Capex: We expect the capital cost of the project to reduce from the current $245m estimate which has been raised by the consultants due to the project’s location.
• The lower capex should be due to the benefits of mining high-grade material with very little in the way of clay or other undesirable elements.
• It is the unusually clean nature of the ilmenite mineralisation and material around it that allows for more simple processing and concentration.
• Financing: We expect a number of multilateral development agencies to participate in the funding alongside project finance, conventional funds and offtake finance from the unnamed Asian trading conglomerate.
• Offtake: The offtaker will take bulk shipments for distribution in smaller lots to other buyers. This should reduce shipping costs and improve efficiency.
• The Asian conglomerate is not currently named due to commercial sensitivity though they may be named closer to the time of offtake.
• Management continue to talk to other offtakers for the remaining tonnage planned from the Dundas project.
• Ilmenite market: Mine production is running at around 7mtpa ilmenite and another 0.6mt of rutile which also contains titanium.

CONT........

'' Discussions with a number of entities with regards to project financing Dundas, including the Firm, continue, and the Company will update the market on this and the Dundas 2021 work programme in due course''

Capex funding is a fait accompli now this agreement has been entered into.

Secure sales and capex to develop

I see the EU market is referenced

Bluejay CEO, Roderick McIllree, said: "I am delighted to have now executed this Master Distribution Agreement with such a Blue-Chip Asian conglomerate on such a significant proportion of our expected annual production from Dundas. Having one party take the bulk of our output and distribute it into smaller annual parcels as required by end users means significant savings will be made with reduced double handling and storage by the Company.

"This Agreement is yet another major step forward in the development of the Project following the recent granting of the exploitation licence, and is an endorsement of the quality of the ilmenite we will produce. Prior to completing this Agreement, we jointly undertook a global customer acceptance programme from which we received sufficient positive feedback to enter into this agreement. It is expected that this product will ultimately be supplied into multiple international markets in Asia (including China and Japan), and a number of EU countries.

"The delivery of this key milestone does not mean that we can rest on our laurels, and we remain focused on delivering the other workstreams required for the successful development of the Project. We are currently in discussions with a number of entities regarding project financing and these are progressing well. Additionally, we will be furthering discussions to secure offtake agreements on the small residual production from Dundas. I would like to finish by thanking our shareholders and stakeholders for their support, but especially my colleagues at Bluejay for navigating a challenging year and finishing it with three major milestones. We look forward to further successes together as we enter 2021."

https://uk.advfn.com/stock-market/london/bluejay-mining-JAY/share-news/Bluejay-Mining-PLC-Master-Distribution-Agreement-r/83967647

RNS

SR

4m? Oh man. I'd struggle with that level of regret fella, seriously.

I initially had 1m GGP at 1.74p and sold for a profit of around £500 and then bought back in with 500k when I realised how good Havieron was.

fingers crossed JAY can deliver which I believe it can

'a damp squib'

What an odd day. I considered today's news as damp squib but the market either saw 'something' contained within that I didn't spot or the market knows something we're not yet aware of. Whatever the explanation this rise is unexpected and that's a bullish sign imvho

CD

The issue is circumstantial. We all have differing circumstances and therefore want to see price gains now or next week not next year or the year after that. Timescales are important according to personal circumstances

If you're a multi-millionaire as opposed to a shareholder with a limited income the latter can't affords to sit on stock for months on end waiting for developments that never happen while stocks like GGP roar ahead

There's a limit to patience and there's a limit on your bank balance

R23

I had 500k GGP and targeted around 15p. It's now 35p. Sometimes adopting price targets can seriously damage your wealth, badly

I believe JAY is a growth stock with mega upside, in time. It's a mining stock without the exploration risk (huge upside on JORC) and without excessive capex demands in a secure jurisdiction and with a captive market in Europe now we are an invited member of ERMA.

I sold GGP way too soon because I failed to appreciate the real value of its discovery at Havieron. I believe JAY is similar to GGP in terms of upside at Dundas which is a multi-decade asset.

Knowing when to sell is so difficult though. It's something I have always failed to master so you play it by ear and be guided by newsflow

Exactly

We need to assuage the market's fear of dilution through JVs/farm-ins etc...this pie in the sky bullox about going to production alone is undermining confidence

somefink goin' on 'ere

SOLG
FOG
JAY
SEE

that's my holding at present

https://uk.advfn.com/stock-market/london/seeing-machines-SEE/share-news/Seeing-Machines-Limited-Fleet-Update/83958029

I knew we had news in the system