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Bluejay Mining

Discussion in 'Forum Requests' started by Ron Clifton, Oct 24, 2017.

  1. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    I'm surprised to find little reference to this share (ticker JAY) in the Blueshare forums.
    It appears that this share is steaming ahead very much under most people's radar with authoritative known mineral deposits at an advanced stage of development.

    While currently making a loss it nevertheless has Cash of over £5million in the bank and exploration and operations costs were itemised as only£1.23million for the year ended 30th June 2017.
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13338635.html
    http://www.titanium.gl/
    The share has doubled over the last 12 months following the announcement of Bluejay minings new ilmenite discovery in Greenland, from under 10pence to todays shareprice of 20pence. My own modest investment made in May 2017 is showing a gain of +45%.

    Ilmenite is a mineral sand containing Titanium Oxide, and the Greenland "Dundas" concession (formally known as the "Pituffik Titanium Project) is claimed to be the largest and highest-grade known ilmenite deposit globally. The deposit extends over an 80Km stretch of the Greenland coast with convenient access to Dundas airport/Thule Airbase and adjacent to a deepwater shipping channel. The company projects a conservative estimate of 90Mt -130Million tons at an in-situ grade of 6.3% to 8.4% ilmenite (at a TiO2 grade of between 3% and 4%). Recent indications from the company suggest that this estimated grade has been surpassed.

    "...Maiden Mineral Resource Estimate for the Pituffik Titanium Project ('Pituffik' or 'the Project') in Greenland, which confirms that it is the highest-grade mineral sand ilmenite project globally, with just ~17% of the raised beach area having been assessed for this resource calculation...
    ...
    · The mineral resource estimate has been prepared by SRK Exploration Services ('SRK') and is broken down into three components:

    o An Inferred resource of 23.6Mt at 8.8% ilmenite (in situ) for the total area tested​
    o This includes a high-grade zone equal to 7.9Mt at 14.2% ilmenite (in situ) at Moriusaq which is the focus of the feasibility and production studies that are currently underway

    o A larger exploration target for the area, primarily encompassing potential mineralisation below and inland from the current drilling, of between 90Mt to 130Mt at an in-situ grade of between 6.3% and 8.4% ilmenite

    · Significant potential to increase Pituffik's global ranking in terms of tonnage with upside potential available via Interlak, the offshore terrace, as well as the additional 25km of raised beach which have not been included in this calculation..."
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13188522.html
    Project exploration is fully approved and the company has an excellent longstanding relationship with the Greenland government and exploitation and mining development rights are in the final stages of approval with extensive survey work currently being undertaken to develop a port facility. The company recently completed export of bulk samples to a number of off-take partners with a view to starting commercial production in 2018. The Company's strategy is focused on the Dundas Project with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on future acquisitions.
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13374880.html

    Additionally Bluejay Mining also has the exploration rights for Disko Nuussuaq a known polymetallic deposit comprising copper, nickel, platinum & cobalt. Disko is a very large scale Magmatic Massive Sulphide ('MMS') target located on the southwest coast of Greenland. The planned work programme is targeted for completion during Q4 2017. Confirming the MMS model was the discovery of a 28 tonne boulder of massive sulphide on the licence areas in 1994 by previous owners Falconbridge. This boulder, which assayed 7% nickel, 3% copper and 2ppm platinum-group elements ('PGE'), can be seen in the foyer of the Danish Geological Museum in Copenhagen. The largest responsive anomaly at Disko is 5.9km long and 1.1km wide, which is similar in scale to the MMS flood basalts of northern Russia that host the giant Norilsk Nickel's Norilsk-Talnakh project ('Norilsk'), which is currently the largest nickel-copper palladium deposit in the world.
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13265849.html
    The company has recently announced a massive increase in the area over which it has exploration rights.
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13391065.html

    The Company's Greenland properties also include the Kangerluarsuk Sedimentary Exhalative (Sedex) Zinc Lead and Silver Project.
    Blujay also have mining projects in Finland and Austria. In Finland, the Company owns over 100% of a portfolio of copper, zinc and nickel projects and the Hammaslahti Copper-Gold-Zinc Project, the Outokumpu Copper Project and the Kelkka Nickel Project.
     
    Last edited: Oct 24, 2017
  2. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    Bluejay was formerly FinnAust Mining PLC prior to the exploration investment in Greenland and changed its name to Bluejay Mining following its initial majority acquisition of Bluejay Mining Ltd in 2015 and a share placing in March 2016 http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/12729828.html

    FinnAust Mining plc is an AIM listed exploration company focused on copper and base metals in Finland and Austria. Its proven management team, with its track record of exploring, discovering, financing, constructing and safely operating mines globally, has established a portfolio of highly prospective projects at various stages of development. Finland is rated the number one mining destination worldwide in the Fraser Institute Global Mining Survey Results 2012/2013.

    The Company's primary focus of exploration is a portfolio of assets in Finland. Three high-priority target areas have already been identified, Hammaslahti, Outokumpu and Kelkka, which are prospective for Volcanogenic Massive Sulphide ('VMS'), high-grade magmatic sulphide nickel-copper and Outokumpu type copper deposits. The assets are located in one of the world's most prolific geological belts, which hosts multiple high grade mines including the world famous Outokumpu copper mine, which reportedly produced a total of approximately 34.4 million tonnes of ore at average grades of 3.6% copper, 1.2% zinc, 0.22% cobalt and 0.1% nickel between 1914 and 1988.

    FinnAust also holds an 80% interest in the previously producing 33 km sq Mitterberg Copper Project in Austria; the Company is continuing to assess the best way in which to realise value from this asset.
     
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  3. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    Can't pretend I know what is going on here but Bluejay mining has this afternoon touched 22p an all-time high - and a rise of over 11% today.

    Something's afoot ? ? ?


    JAY - chart 2017-10-24 at 15.27.54.png
     
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  4. Groucho

    Groucho Member

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  5. Larry

    Larry Demi God of BlueShare

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    Thanks Ron, very interesting will watch for now as price doubling without any profits yet is interesting. I am heavily tied up with other companies at the moment but will try and have a good look when work and time allow.
     
  6. piqui

    piqui A Legendary Member

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    This is intriguing Ron. Either people know something or it's PIs chasing the price up for no real reason. I'll keep an eye on it and when there's real news I might be tempted.

    FYI I also started a thread on ZOO - not that I know much about digital media but their price has quadrupled since June. I'm only 25% up as I got in late in the day despite watching the SP from 11p. If you are interested check it out here: http://www.blueshare.co.uk/community/index.php?threads/zoo-zoo-digital-share-chat.3685/
     
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  7. Inspiration

    Inspiration Moderator Moderator

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    I haven't looked into this in detail, but Regency Mines were interested in a project in Greenland. However, they gave Value Generation Ltd (a private company owned by Paul Johnson of MTR fame and other mining co's) an option to look at it, but they decided not to take it up.

    Motzfeldt

    Following the announcement of 22 February 2017 that Value Generation Limited had purchased an option to acquire 100% of the Company's Motzfeldt multi-element projects in Greenland, this option has now lapsed without exercise, although discussions with Value Generation concerning the project have continued.

    The Company retains a 100% interest in license 2014/01 in Greenland and the project remains on care and maintenance, while Regency explores additional avenues of development.

    There are several articles on rare earths in Greenland, but I think that the overall feeling is it is too costly to extract at present.
     
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  8. Inspiration

    Inspiration Moderator Moderator

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  9. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    "...There are hurdles to be overcome before then. First, the company needs to complete environmental and social assessments and apply for an exploitation licence."

    The company has made tremendous progress already this year with the environmental and local impact assessments completed with no adverse items recorded. These assessments are a pre-requisite for the Exploitation License and the company has stated the application is now at an advance stage - their excellent relationship with the Greenland authorities is likely to ease the passage of these approvals and the company expects approval to be granted in the first half of 2018. On this basis work has been progressed at a rapid pace with bulk samples mined and already despatched to an experienced Mineral Sands processor for refinement and preparation of a high specification ilmenite product ready for seeding the off-take market. It is expected that two high spec. ilmenite products can be produced efficiently that are suitable for sulphate pigment production and for both sulphate slag and chloride slag markets.

    Surveying work has continued on land to further sample the quality and scale of the pituffik deposits and survey work is almost complete to define the deepwater channels for the shipping transport. Plans are also being progressed with the design of the material processing plant.

    While you might expect environmental and weather patterns to be a major obstacle - access has improved considerably due to global warming. The beauty and distinguishing feature of the Pituffik/Dundas deposit is that a substantial bulk of this mineral sands deposit with high concentrations of ilmenite sampled at depths down to 30metres (the limit of the drilling equipment employed) the deposit is expected to prove much deeper. Consequently the mineral is easily accessible at relatively shallow depths on the raised beaches over a 30 Kilometre stretch of the coastline - one kilometre wide, using mechanical excavators. The other substantial deposits of ilmenite-rich minerals sands are a feature in the areas of active beaches and drowned beaches. The shallow marine environment has been proven to extend out to approximately 1,000m from shore, all in less than 20m of water. This means that the drowned beach sediment accumulations, if ultimately proven, could be exploited through simple and cost effective offshore dredging. This all adds up to the largest known deposit globally of easily mined/low production cost, ilmenite in a location with easy access to shipping routes and the north American market.

    The company had over £5.6million cash in hand at the half year interims and the company strategy is to employ the easily captured profit from the Pituffik deposits to finance the development work on its other Greenland concessions at Disko and Kangerluarsuk. I expect this share to advance considerably in 2018 with each new item of news.

    For the latest 2017 H1 interims report see http://www.titanium.gl/documents/corporate-documents/Bluejay-Mining-Interim-Accounts-21875.pdf
     
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  10. Inspiration

    Inspiration Moderator Moderator

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  11. Makaira88

    Makaira88 Life's a beach ...

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    Anyone got a reasoned price target for JAY?
     
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  12. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    @Makaira88

    Hi Mak - A difficult one this given the scale of the project and the extreme environmental challenges the company faces.
    Nevertheless they have made rapid progress to date and have excellent relations with the various departments of the Greenland Government (witness the recent expansion of their mining licenses and cooperation over the bathymetric surveys. I do next expect any problems with the exploitation license once the feasibilities studies are concluded and expect them to be awarded this in the spring.

    They are planning to move into production during 2018 and have already gathered together a highly respected team - see the RNS dated 13 october

    "To complete the feasibility study and to advance the Project into production in 2018, the Company is delighted to advise that it has appointed the following group of advisers:

    · SRK Consulting ('SRK') appointed to update the resource estimate, prepare the mining schedule and assess water management aspects as well as review the study as a whole;

    · IHC Robbins ('IHCR') appointed to complete the process plant engineering & design study;

    · Royal IHC ('IHC') expected to finalise a dredging study with final draft expected in the coming month; and

    · Amec Foster Wheeler Americas Ltd ('Amec') to undertake the infrastructure and services part of the study.

    The final feasibility report is expected for completion during Q1 2018. This will form the final part of the exploitation licence application that is expected to be approved during H1 2018."

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13395476.html

    So overall it all points to this company being at the start of the "J curve" climb as it now moves into the development period and there has been evidence of Analysts and institutional Investors showing interest and some have even visited the site.

    I expect the share to start moving upwards fairly sharply in 2018 as we get announcements about the construction of the material handling facilities, the processing plant and progress with dredging of the shipping channel, culminating with announcement of the first bulk export of product. Personally I expect the sp to double from its present levels through H2 2018.

    I also expect climactic conditions to impact and that the gains over the next few years will be in fits and starts with periods of stagnation. However we could have some pleasant surprises with announcements about the sister projects at Disko and Kangerluarsuk in Greenland; and of course the Finland mining projects. But then, What Do I Know? All my own opinion DYOR

    2014sykesetaldevelopingnewrareearthminesupplyoutsidechinametalpagesrareearthsfinal-15-638.jpg

    .
     
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  13. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    Anyone looking for a good summary of the Bluejay Mining's Greenland ilmenite project may wish to read the Midas report from 3 months ago.
    since then the share price has risen by over 40% to todays price of 24p.
    http://www.thisismoney.co.uk/money/...808/Mush-Mining-ventures-wilds-Greenland.html

    MIDAS SHARE TIPS:
    Bluejay's mining ventures into wilds of Greenland deserve to rise considerably

    By Joanne Hart, Financial Mail on Sunday

    PUBLISHED: 01:00, 13 August 2017 | UPDATED: 10:17, 14 August 2017

    Greenland is traditionally associated with cold weather and wildlife. With strict environmental laws and a harsh year-round climate, it does not normally attract much mining interest.
    But Rod McIllree, an intrepid Australian geologist, has been working in the country for 11 years, the last three of which have been spent developing one of the largest and highest-grade ilmenite projects in the world.
    Bluejay Mining, McIllree’s company, is listed on AIM. The shares are 17p and deserve to rise considerably as the Greenland site moves into commercial production.


    [​IMG]
    Bluejay Mining's shares are 17p and deserve to rise considerably as the Greenland site moves into commercial production

    Ilmenite is used to make titanium dioxide, a pigment that is an essential component of white paint. Titanium dioxide is also deployed as a colouring in sunscreens, make-up and food and has a variety of industrial uses, too. After the financial crisis, when economic growth stalled, titanium dioxide prices fell and several mines cut production or ceased operating. Now, global supplies are constrained and prices are rising, at between $200 (£153) and $300 per ton, against a low of just $70. The price range depends on the quality of the mineral deposits and Bluejay’s are exceptionally high quality.
    The firm currently operates along almost 20 miles of coastline in north-west Greenland, but the entire site, known as Pituffik, covers 60 square miles so there is considerable potential for expansion.

    Local infrastructure is robust as well, so Bluejay’s ilmenite can be transported to ports and shipped overseas with relative ease. The proximity of shipping hubs and the quality of the ilmenite means the cost of production is among the lowest in the world, so Bluejay is expected to be highly profitable once it starts shipping. Buyers are already showing interest and the company expects to send out samples to prospective customers this year, with production starting at the end of 2018.

    Analysts expect production of about 100,000 tons next year, rising to more than 300,000 by 2020. Initially, McIllree will plough sales proceeds back into the business, but the group is expected to be solidly profitable and potentially dividend-paying within three years.

    [​IMG]
    Greenland is known for its tough stance on environmental issues, but McIllree has developed a close working relationship with the government

    There are hurdles to be overcome before then. First, the company needs to complete environmental and social assessments and apply for an exploitation licence. Greenland is known for its tough stance on environmental issues, but McIllree has developed a close working relationship with the government, which is keen to support good quality resource projects, so the signs are encouraging.

    Bluejay also needs about £50 million to bring the Pituffik project to fruition. Shareholders would be reluctant to food the bill, but alternative solutions are likely to be found.

    Leading refiners and chemical companies may well sign offtake deals, under which they will provide upfront capital in return for a fixed amount of ilmenite at a set price over an agreed period of time. Shipping companies may also provide finance and, if McIllree secures some renowned purchasers, banks will almost certainly be willing to provide loans.

    One of Bluejay’s key advantages is its location, just 1,100 miles from North America. Other ilmenite producers – mainly in Africa – are several thousand miles away, so shipping costs are considerably more expensive.

    Bluejay is focused on the Pituffik project, but it owns licences elsewhere in Greenland and it has a large copper site in Finland too, which may well be sold to generate extra cash.

    Midas verdict: Bluejay has yet to move into production, so there are clear risks associated with this investment. However, McIllree knows what he is doing, the resource is high-grade, the Greenland government is supportive and prospective buyers are interested in the group’s ilmenite.

    At 17p, the shares are a buy.

    Read more:
    http://www.thisismoney.co.uk/money/investing/article-4784808/Mush-Mining-ventures-wilds-Greenland.html


    .
     
  14. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    RNS this morning with good news on progress with the application for a Development Permit.
    "Positive Permitting Update" Project on-target for start of production in 2018 and share up 5% to 25p at open.

    "...With strong stakeholder and Government support received to date, we can now advance into the final stages of project permitting, which together with ongoing feasibility studies, will culminate in an application for exploitation early next year..."
    Rod McIllree (CEO Bluejay Mining plc)​




    [​IMG]
    Bluejay Mining PLC - JAY
    Positive Permitting Update
    Released 07:00 14-Nov-2017
    [​IMG]


    RNS Number : 3812W
    Bluejay Mining PLC
    14 November 2017

    Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

    14 November 2017

    Bluejay Mining plc ('Bluejay' or the 'Company')
    Permitting Update: Dundas Ilmenite Project Receives Strong Support


    Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to provide an update on permitting developments for the Dundas Ilmenite Project in Greenland ('Dundas').

    Overview
    · Successfully finalised the "Terms of Reference" for both the Environmental Impact Assessment ('EIA') and Social Impact Assessment ('SIA')

    · Completed a White Paper, which encompasses the stakeholder consultation response period

    · All documents accepted and approved by the Greenland Government and the relevant licencing bodies

    · Received a high degree of support from all stakeholders - highlighted during the process of public consultation and engagement

    · EIA and SIA now earmarked for completion in Q1 2018 ahead of commencing production later that year

    · Permitting developments can be seen on the Greenlandic Government portal:http://naalakkersuisut.gl/en/Hearin...VSB-og-VVM-for-Titaniumprojektet-ved-Pituffik

    Bluejay CEO Roderick McIllree said, "Continued progression through the permitting system marks another key achievement for our Dundas Ilmenite Project as we continue to execute on our defined development strategy to build a robust and long life mineral project. With strong stakeholder and Government support received to date, we can now advance into the final stages of project permitting, which together with ongoing feasibility studies, will culminate in an application for exploitation early next year. We look forward to keeping shareholders updated with our progress."

    Further Information
    In the first half of 2017 Bluejay, alongside Orbicon Arctic A/S and NIRAS Greenland A/S, conducted workshops with all stakeholders for Dundas to provide an inclusive summary of the project plans. Stakeholder feedback was then incorporated into the "Terms of Reference" for the EIA and SIA.

    The guidelines for the EIA and SIA are determined by the Greenland Mineral Licence and Safety Authority ('MLSA'). Working in conjunction with the MLSA, the Environmental Agency for Mineral Resource Activities ('EAMRA'), is the responsible authority concerning assessments and considerations of all environmental aspects referring to mineral activities. Following a review process by both the MLSA and EAMRA, the "Terms of Reference" for both the EIA and SIA on Dundas were approved.

    Market Abuse Regulation (MAR) Disclosure
    Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

    **ENDS**


    For further information please visit http://www.titanium.gl or contact:
    Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326
    Ewan Leggat SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
    Soltan Tagiev SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
    Charlotte Page St Brides Partners Ltd +44 (0) 20 7236 1177
    Megan Dennison St Brides Partners Ltd +44 (0) 20 7236 1177


    Notes

    Bluejay has a number of highly prospective licences at various stages of development in Greenland and Finland. The Company is dual listed on the London AIM market and Frankfurt Stock Exchange.

    The Company is currently focussed on advancing the Dundas Ilmenite Project in Greenland, an area that has only recently revealed its mineral potential following changes in the climate. Dundas, which with an initial Inferred JORC resource of 23.6Mt at 8.8% ilmenite (in situ), including a high-grade zone equal to 7.9Mt at 14.2% ilmenite, and significant further upside, has been proven to be the highest-grade mineral sand ilmenite project globally.

    Dundas comprises three main target areas along an >40km coastline historically proven to contain large and high-grade accumulations of primary ilmenite occurring as placer deposits in the following environments:

    · Raised beaches; containing ilmenite accumulations over widths of more than 1km, of unknown depths, along more than 30km of coastline;

    · Active beaches; which refer to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone; and

    · Drowned beaches; refers to the areas seaward of active beaches.​

    The Company's strategy is focused on the production of a bulk sample "proof of concept" from the Dundas Ilmenite Project in 2017 with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on current projects and future acquisitions.

    Bluejay also holds a 100% interest in a portfolio of copper, zinc and nickel projects in Finland. This multi-commodity portfolio remains a strategic asset of importance and has been restructured to be cost-sustainable whilst determining the best plan for future development.


    Dundas Mineral Resource Estimate

    The Dundas mineral resource estimate has been prepared by SRK Exploration Services ('SRK') and is broken down into three components:

    · An Inferred resource of 23.6Mt at 8.8% ilmenite (in situ) for the total area tested

    · This includes a high-grade zone equal to 7.9Mt at 14.2% ilmenite (in situ) at Moriusaq which is the focus of the feasibility and production studies that are currently underway

    · A larger exploration target for the area, primarily encompassing potential mineralisation below and inland from the current drilling, of between 90Mt to 130Mt at an in-situ grade of between 6.3% and 8.4% ilmenite​

    SRK has produced a Mineral Resource Estimate for the Dundas onshore raised beaches target that forms part of Bluejay's exploration licence in Northwest Greenland (licence number 2015/08). This is the maiden Mineral Resource Estimate produced for the licence. The Mineral Resource Estimate report prepared by SRK will be made available during Q2 2017.

    The Mineral Resource Estimate is based on all valid data available as at 1 March 2017. A volume of the raised beaches has been modelled which encompasses the drilled portion of these areas with a maximum depth limit set at 3 metres below ground level. The model covers a surface area of approximately 5km by up to 0.9km. The model was incorporated into a three-dimensional block model and the in situ titanium dioxide ('TiO2') grade and percent recoverable heavy mineral content were interpolated using an inverse distance weighted ('IDW') algorithm.

    SRK considers that all the delineated mineralisation has reasonable prospects for eventual economic extraction and the Mineral Resource Statement has been reported at a 0% cut-off grade using the terminology and guidelines set out in the JORC 2012 Code.

    Bluejay - Jork estimate Dundas -April2017.png

    SRK is of the opinion that there is a high probability that a proportion of this currently reported Inferred Mineral Resource can be upgraded to the Indicated category following additional exploration. Further, SRK considers that there is a high probability that the raised beaches hosting this Mineral Resource extend both at depth and laterally along the shoreline within Bluejay's licence area. The licence area includes a 30 km length of raised beaches and deltas and Bluejay has demonstrated mineralisation in several places in addition to the area covered by the Mineral Resource presented here.

    In addition to the Mineral Resource Statement, SRK has derived an Exploration Target which is planned to be tested by the Company in the next field season. The Exploration Target tonnage range reflects SRK's opinion that the mineralization has potential to be continuous between 9m and 12m below surface (SRK's Mineral Resource estimate has been restricted to 3m) which is based on a limited amount of outcrop exposure. In summary, it comprises potential mineralisation below the depth currently drilled. The exploration grade range is based on the grade of the overlying Mineral Resource.

    SRK's Exploration Target is between 90Mt and 130Mt with an in-situ TiO2 grade of between 3% and 4% (assumed to be between 6.3% and 8.4% ilmenite) and a heavy mineral content of between 30% and 34% of which between 10% and 12% will comprise TiO2 (assumed to be between 21% and 25% ilmenite). It should be noted that this is an estimated range of tonnes and grade and is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

    Qualified Persons

    The information in this press release that relates to Mineral Resources is based on information compiled under the direction of Dr Mike Armitage C Geol., C Eng., who is a Member of the Institute of Materials, Minerals and Mining which is a Recognised Overseas Professional Organisation ('ROPO') included in a list promulgated by JORC from time to time.

    Dr Armitage is a full-time employee of SRK Consulting (UK) Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code) and for the purposes of the AIM Rules. Dr Armitage has reviewed this press release and consents to the inclusion in the press release of the matters based on his information in the form and context in which this appears.


    This information is provided by RNS
    The company news service from the London Stock Exchange

    END
     
  15. Ron Clifton

    Ron Clifton Demi God of BlueShare

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  16. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    RNS out this morning;
    Bluejay Inclusion in the MSCI World Micro Cap Index
    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13433342.html

    Little impact on the shareprice so far but Roderick McIllree, Bluejay CEO commented on the company's elevation to the respected Morgan Stanley index;

    "The inclusion of Bluejay in MSCI's World Micro Cap Index, an established index that is widely followed by both active and passive investment vehicles such as tracker funds, puts the Company firmly on the radar of institutional investors.

    Gaining representation in this index is testament to the progress we have made over the past year, specifically in positioning the Dundas Ilmenite Project in Greenland as the highest-grade mineral sand ilmenite project globally.

    We are nearing the final stages of the project permitting process which once complete will mark another major milestone as we continue to execute our defined development strategy to build a robust and long life mineral project."

    [​IMG]
    Bluejay Mining PLC - JAY
    Bluejay Inclusion in the MSCI World MicroCap Index
    Released 07:00 16-Nov-2017
    [​IMG]


    RNS Number : 6352W
    Bluejay Mining PLC
    16 November 2017
    Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

    16 November 2017

    Bluejay Mining plc ('Bluejay' or the 'Company')

    Bluejay Inclusion in the MSCI World Micro Cap Index

    Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, is pleased to announce its inclusion in the Morgan Stanley Capital Index ('MSCI') for World Micro Caps, effective 30 November 2017.

    The MSCI World Micro Cap Index (MXEURC) captures micro-cap representation across 23 Developed Markets countries. With 5,733 constituents, the index covers approximately 1% of the free float-adjusted market capitalisation in each country and as at 31 October 2017, the market capitalisation of World Micro Caps stood at US$556,640 million.

    MSCI is a world leading provider of research-driven insights and tools for institutional investors with particular expertise in the areas of risk and performance measurement that is based on more than 40 years of academic research, real-world experience and collaboration with clients. MSCI's broad product line which includes equity, fixed income, hedge fund stock market indexes and equity portfolio analysis tools, supports clients' needs across all major asset classes delivering a consistent way of looking at risk and performance from front to middle office.

    Bluejay CEO Roderick McIllree said "The inclusion of Bluejay in MSCI's World Micro Cap Index, an established index that is widely followed by both active and passive investment vehicles such as tracker funds, puts the Company firmly on the radar of institutional investors. Gaining representation in this index is testament to the progress we have made over the past year, specifically in positioning the Dundas Ilmenite Project in Greenland as the highest-grade mineral sand ilmenite project globally. We are nearing the final stages of the project permitting process which once complete will mark another major milestone as we continue to execute our defined development strategy to build a robust and long life mineral project."


    **ENDS**

    For further information please visit http://www.titanium.gl or contact:

    Roderick McIllree Bluejay Mining plc +44 (0) 20 7907 9326

    Ewan Leggat SP Angel Corporate Finance LLP +44 (0) 20 3470 0470

    Soltan Tagiev SP Angel Corporate Finance LLP +44 (0) 20 3470 0470

    Andrew Chubb Hannam & Partners (Advisory) LLP +44 (0) 207 907 8500

    Ingo Hofmaier Hannam & Partners (Advisory) LLP +44 (0) 207 907 8500

    Charlotte Page St Brides Partners Ltd +44 (0) 20 7236 1177

    Megan Dennison St Brides Partners Ltd +44 (0) 20 7236 1177

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JAY/13433342.html
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    Last edited: Nov 16, 2017
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  17. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    @Makaira88
    Bluejay Broker updates price target
    SP Angel Corporate Finance and Broker for Bluejay has today issued a new note following a recent visit to Greenland. They have raised their target from 24p to 37p based on the visit and a subsequent "revised cash flow analysis" and an "escalated mining rate increasing from 1 million tons p.a. in 2020 to 5.5mtpa in 2026.
    You can get the full note at https://www.uploadlibrary.com/SPAngel_JohnMeyer/Bluejay_Mining_Valuation_Upgrade_flash_note.docx.pdf

    You may also be interested to see the Presentation slides from the recent Bluejay presentation 2 days a go at the TZMI Titanium and Zircon Congress for mineral sands producers in Hong Kong on 15 November. ( http://congress.tzmi.com/en/index.php ). The presentation answers a lot of questions about the difficulties of mining in Greenland. I shall post details of the presentation in a post to follow this.
    JAY - SP Angel note 16nov2017.png
     
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  18. Ron Clifton

    Ron Clifton Demi God of BlueShare

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  19. Ron Clifton

    Ron Clifton Demi God of BlueShare

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    interesting analysis of Bluejay Mining value from Michael Walters ( http://www.michaelwalters.com/stories/news.phtml?num=5303 )

    "What distinguishes Bluejay from other early stage resource plays is the undeniable evidence that is has found a world-beating ilmenite deposit out in north-western Greenland, and it is worth a fortune...

    ...Proof that ilmenite is there in abundance comes from simply looking at it (see the pictures on the website at www.titanium.gl), from the preliminary drilling by the company, and – most potently – by a survey from the Greenland and Denmark Geological Society, which talks about 17bn tonnes of ilmenite in the area. It is estimated that at least 1bn tonnes of it must be within the Bluejay licence...

    ...Go back to the interim statement on August 23, and most of it is foreshadowed there. McIllree talked of defining ‘a maiden JORC resource of 23.6Mt at 8.8% ilmenite (in-situ) at the Pituffik Titanium Project in Greenland - this includes a high-grade zone equal to 7.9Mt at 14.2% ilmenite (in-situ).’
    • He went on to say the ‘2017 work programme was well advanced - targeting an upgraded resource, feasibility results and off-take agreements by the year-end.’ ...

    ...At some stage quite soon, then, we are due the formal JORC resource upgrade. Since the original dealt with less than 17% of the area, and there has been a massive increase in the areas of drilling – see the yellow dots on the map on page eight of the October presentation at http://www.titanium.gl/documents/investor-presentation/Bluejay TiO2 World Summit 10.10.17.pdf
    http://www.titanium.gl/documents/investor-presentation/Bluejay TiO2 World Summit 10.10.17.pdf
    ...

    ...The chances are that the formal resource upgrade, though it will not get to 1bn tonnes, will multiply the previous formal figure perhaps ten-fold. Big investors, though they know about the Gigatonnes, like to see things like the generally accepted JORC, however. McIllree is clear enough. He has said ‘I expect this volume to grow exponentially in the coming months."

    For the full story see Spoiler below, or go to http://www.michaelwalters.com/stories/news.phtml?num=5303

    What's Going On? - (JAY)
    11/11/2017 (119264)

    What’s Going On?

    Happy days. Shares in Bluejay Mining (JAY) continue to power ahead, ending the week at a new peak of 23.50p in decent volume. The recent surge through 20p was not followed, as it has been in earlier surges, by a spell of profit-taking and consolidation. This time it just went straight on up, taking the market capitalization to a rather serious £173m.

    We are not dealing with some flakey fringe stock here, but an emerging heavyweight, increasingly backed by well-informed institutions and advisers, people who would not be playing here unless they believed that this was bound for the big time, something to be taken very seriously by the world’s leading resource companies.

    What distinguishes Bluejay from other early stage resource plays is the undeniable evidence that is has found a world-beating ilmenite deposit out in north-western Greenland, and it is worth a fortune. Remarkably,nobody took it particularly seriously until the current management team, lead by chief executive Rod McIllree, got aboard. Folk knew the black sand beaches meant ilmenite, which ultimately meant the titanium which is used for all sorts of things across the world, but until global warming began to loosen up the permafrost and ease access to them, nobody bothered that much.

    Proof that ilmenite is there in abundance comes from simply looking at it (see the pictures on the website at www.titanium.gl), from the preliminary drilling by the company, and – most potently – by a survey from the Greenland and Denmark Geological Society, which talks about 17bn tonnes of ilmenite in the area. It is estimated that at least 1bn tonnes of it must be within the Bluejay licence.

    The team was out there last summer in the four or five month weather window when they have light almost 24 hours a day, drilling, digging, bagging and shipping. That process probably re-starts in June, though they will start building infrastructure early in 2018. That does not mean the pace of news from Bluejay will slow. There are crucial news points in the weeks and months ahead.

    Go back to the interim statement on August 23, and most of it is foreshadowed there. McIllree talked of defining ‘a maiden JORC resource of 23.6Mt at 8.8% ilmenite (in-situ) at the Pituffik Titanium Project in Greenland - this includes a high-grade zone equal to 7.9Mt at 14.2% ilmenite (in-situ).’
    • He went on to say the ‘2017 work programme was well advanced - targeting an upgraded resource, feasibility results and off-take agreements by the year-end.’

    At some stage quite soon, then, we are due the formal JORC resource upgrade. Since the original dealt with less than 17% of the area, and there has been a massive increase in the areas of drilling – see the yellow dots on the map on page eight of the October presentation at http://www.titanium.gl/documents/in...tation/Bluejay TiO2 World Summit 10.10.17.pdf

    The chances are that the formal resource upgrade, though it will not get to 1bn tonnes, will multiply the previous formal figure perhaps ten-fold. Big investors, though they know about the Gigatonnes, like to see things like the generally accepted JORC, however. McIllree is clear enough. He has said ‘I expect this volume to grow exponentially in the coming months.’

    On October 13 we had details of the top-class team of expert companies involved in the feasibility study, and a change of name for the project from Pituffik to Dundas. The final feasibility study report was due for completion during the first quarter of 2018, and will form the final part of the exploitation license application which is expected to be approved during the first half of 2018. When that comes, Bluejay can get digging and selling in bulk. But we might get some news on that earlier, and meanwhile we should have the social impact assessment report and environmental impact assessment report approval.

    The proof-of-concept bulk sampling programme has exceeded expectations, and there is an agreement with an experienced mineral sands processor to refine the ilmenite into a two high specification products which will sell at a premium price, and can be used to seed the market to assist obtaining off take agreements. There is the prospect of such agreements – and more than one significant major player is interested – before the end of the year. McIllree has been travelling across the world to talk to interested parties, with at least one of them very keen.
    Amid all of this ilmenite activity, there could be corporate action in the months ahead. While potential customers might be persuaded to help finance part of the development in some way, there might be a need to line up shipping and mining partners in a fashion which allows them greater margins initially in return for bearing their share of costs, and there might also be a need to raise extra funds to construct the relatively simple extraction plant on the shore. As a major shareholder himself, McIllree is always keen to keep any dilution by issuing extra shares at a minimum, but it does appear that there could be powerful institutional support for any share funding. He knows he can raise several millions from selling the group’s interests in Finland.

    The board is keen to retain full exposure to the polymetal prospect at Disko in south-western Greenland, and it looks as if this will be hived off in some fashion into a company whose shares could be distributed to existing Bluejay holders. Some believe this could be bigger than the ilmenite project, but is it vastly more speculative, though it could be worth a few pence per share at this stage.

    Hiving it off would be a means of keeping hold of it should there be a bid for Bluejay based on the Dundas project. There are many ways of potentially valuing this, and some of them are explored in previous reports which can be accessed by putting JAY (or FAM for earlier efforts) into the box at lower left of the front page. While it is possible to arrive in perfectly logical fashion at quite breathtaking figures by simply attaching a modest price per tonne to the ultimate resource, it is best at this stage to be more cautious.

    This despite evidence that the ilmenite price is going higher, Bluejay has a premium product, and there could be a margin in excess of $100 per tonne. We are talking sales of hundreds of millions of tonnes a year and rising as we look ahead, so the potential values are high.

    That said, Bluejay has yet to make a profit, and will not be mining major quantities until 2019, all being well. And just as climate change has opened this opportunity, an unexpected reverse could make it less attractive.

    Given the unique size and especially attractive qualities of Bluejay’s ilmenite resource, the chances are that one of the majors will bid for it in the end. Given the innate caution of big companies, the chances are also that any such bid will not emerge until all of the loose ends are tied up. McIllree has been working his way through that task impressively, and though his good working relationship with the Greenland government, which needs the jobs and revenue, suggest it will come in good time, the Exploitation licence is not likely until the second quarter of 2018. So a bid is less likely before that date.

    In the meantime, with new and more influential advisers on board, the Bluejay story is getting better known, the rising market capitalisation perversely attracts more interest as it grows, and there are several news events marking progress to production which could help sustain the share price over the next few weeks and the months ahead.

    We started this journey a little late, introduced to it by an astute friend who told us about it with the price just above 6p, not that long after it had been 2p or lower. Clearly the scope for gains diminishes as the price rises, but Bluejay’s flight is far from over.

    I have a holding in Bluejay.

    Ends



    @Makaira88



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  20. remmo

    remmo Demi God of BlueShare

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    Thanks Ron
    I've been in this a while. Started at 16p and I like the co a lot. DYOR as they are very much under radar
    Mainly institutions and a very low key business which is professional and not too many PIs. Big news is imminent I feel with jorc and off take agreements
    The bod have integrity and are not shouting from the hill tops about what they have, unlike the early days at MTR when many of us got fleeced, again! (Still in MTR but feel PJ is not to be trusted)
    Reckon this will fly further very soon
     
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