Member Info for schlemiel

A bit of bloody urgency at last. I wonder if Origin's decision to immediately begin its operations before the wet season kicks in is related to this positive news?

$50m is a decent wad and I bet more to come

https://mine.nridigital.com/mine_jan21/dundas_ilmenite_mine_bluejay

Greener pastures

The world's highest-grade ilmenite deposit, the Dundas project in Greenland, has been making remarkable progress

HTTP://mine.nridigital.com/mine_jan21/dundas_ilmenite_mine_bluejay

That's the first time BHP has allowed itself to be referenced in this manner. Yes, they were contractually obliged to remain silent during the SA but since its expiration the first thing they do is, using a conduit, express their concern and intimate they may be siding with Mather's nemesis, CGP.

It's intriguing from a corporate perpsective but for shareholders it's a FECKIN' PAIN UP THE 'ARRIS

Will take 300k at 13.20p

Whatever the mechanical process is, it seems the market's suddenly become active. Canadian as usual

Dodge
good post

Yes, Heddle and indeed Paddy and others turned my fortunes around somewhat though not due to my immaturity I took profits too soon so thanks to him and indeed many others on this board

top stuff

thanks all and a good xmas

ned - It's a very pertinent question. Who collates and has access to the whole set of data (all votes) when our brokers submit from us (the shareholder) this information to who?

Does the company have real time access to this information or is it classified until the voting deadline expires?

I like you have no idea of the mechanism

If you listen carefully you can hear the thudding of the collective heartbeat of thousands of Solgold's shareholders nervously awaiting the results from tomorrow's AGM

If Mather is removed what I wonder will this reveal?

If Mather retains his position what I wonder will this reveal?

I'm sure most don't need this level of stress before Xmas. I certainly don't. I should have stuck to GGP. I'd be dancing through the streets now clanging my bells as opposed to biting my nails on the outcome of a feckin' tedious AGM

I think you're all spot on. Day will want to start his tenure with good news. I think Day's appointment is a good omen

GGP is not long for this world

I can smell Newcrest here. What are they up to?

I know I'm no longer a holder but I still avidly follow the board, its decent shareholders and the company itself. I bet this is a corporate move

Appointment of CEO

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the appointment of Shaun Day as Chief Executive Officer of the Company. Shaun Day will succeed Gervaise Heddle, who is leaving the Company to pursue other interests. Shaun Day will take up the position of CEO and join the Board on 8 February 2021. Gervaise Heddle will remain on the Board and part of the Executive team until 12 March 2021 to ensure a smooth transition.

Takeover in the wings?

gone. Wow

Upcoming catalysts & timeline to production

Offtake discussions are ongoing with a large multinational trading company, and we note the company "anticipate[s] reaching a commercial [offtake] agreement very soon". Bluejay expects the agreement to cover a minimum of 200ktpa and potentially up to 300ktpa, roughly 2/3 of Dundas' annual production. The combination of an Exploitation Licence and Offtake deal would give a solid platform to explore various project financing options, in our view. There is also the potential for an offtake deal to come with a funding commitment, allowing JAY to accelerate the ongoing optimisation of its PFS and commence a full Bankable Feasibility Study. We have modelled first production from 2023, subject to Governmental sign-off of the exploitation and closure plan by the end of 2022, as stipulated in the Exploitation Licence awarded today. With the PFS review targeting capital and operating cost reductions, we have assumed in our DCF that the initial capex budget will be ~US$200m, compared to the US$245m in the 2019 PFS. Meanwhile, we note JAY is considering the installation of renewable power capacity; while we believe this may involve additional capital, it could also attract very low cost state-backed loans or grants, whilst reducing energy costs.

Valuation - sensitivity to price upside

We retain a Dec'21 target price of 20p per share, implying 62% upside from the current price. This is based on a WACC of 8% and long-term real ilmenite price of US$200/t (FOB), more conservative than the PFS inputs of 5% and US$232/t, respectively. Based on the potential size of the Resource, we model 17 years of production beyond the 9-year PFS Reserve. On this basis we reach an NPV of US$268m for Dundas, to which we apply a 0.8x multiple. We then add a further US$60m in nominal value for JAYs earlier-stage but equally attractive exploration assets: US$30m for Disko, US$10m for Kangerluarsuk and US$20m for the Finnish licences. Adjusting for working capital and G&A, we derive a total Dec'21E SOTP of ~US$257m (20p/sh). Furthermore, we note for every US$10/t delta in ilmenite we would see a ~US$32m change (~12.5%) in our Dundas NPV, equivalent to a ~2.6p change in SOTP; marking-to-market for current ilmenite prices of ~US$260/t, this would imply ~80% further upside to our PT.

end

https://www.marketscreener.com/quote/stock/BLUEJAY-MINING-PLC-15082161/news/Bluejay-Mining-Hannam-and-Partners-Equity-Research-32007808/

Bluejay Mining : Hannam and Partners Equity Research

12/14/2020 | 10:19am EST

BlueJay Mining | Equity Research 14th December 2020

Dundas Exploitation Licence granted; offtake deal expected soon

BlueJay Mining PLC (JAY) has announced the granting of an Exploitation Licence for the Dundas Ilmenite Project. The license will be signed by the Government of Greenland in a virtual ceremony later today, enabling the company to enter the procurement, construction and production phases. The license will be valid for 30 years, with an option to extend if required, giving plenty of room for additions to the current ~9-year Reserve life. BlueJay plans to produce 440ktpa of ilmenite as indicated in the PFS, but this initial production level can be upscaled. The awarding of this licence represents an important milestone in the advancement of the project, allowing BlueJay to further progress financing negotiations with new and existing interested parties, including a potential offtake partner.

Extensive regional engagement has fostered strong community relations

A comprehensive environmental and social impact assessment conducted at Dundas has helped to build a sound relationship with the local community. BlueJay has also engaged in extensive community consultation and collaborated with educational institutions to provide the locals with the necessary skills to work at the Dundas Project in a bid to boost local employment. This, coupled with supportive comments from various official bodies, are testament to BlueJay's responsible stewardship of the project to date, and could support the company's efforts to access low-cost, government- backed funding options. We also note the Government of Greenland will receive royalties of 1% and 2% in years 1 and 2, respectively, and 2.5% from year 3 onwards, which realistically implies a 2.5% royalty over the life-of-mine given the timeline to first production.

cont........

I see the company has managed to fill the two US DMS jobs, Well, they've been removed from the website anyway

Let's get this feckin' AGM out of the way ffs. The uncertainty it's triggered has been most unwelcome. For all the positive drilling results the price has about as much energy as a sloth at bedtime