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JRV, JERVOIS MINING LIMITED
blacksheep
post Posted: Aug 7 2019, 10:52 AM
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In Reply To: blacksheep's post @ Jul 11 2019, 03:35 PM

QUOTE
Hopefully they are keeping an eye on the future "demand" for cobalt (and of course price)


As mentioned in an earlier post (above) couple of issues to think about re Glencore's cobalt problems
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Glencore Plc is planning to halt production at one of the world’s biggest cobalt mines after prices for the battery metal collapsed and costs at the project increased, according to a person familiar with the situation.


QUOTE
The company said last week that it’ll report a $350 million non-cash hit to its trading business from cobalt that’s been mined, but not yet sold.

https://www.mining.com/web/glencore-plans-t...-mine-in-congo/

JRV seems to have put most of it's eggs in the cobalt basket - hopefully there will be a recovery in pricing and demand in the near future. If not they can always revert their attention to gold or U in some of their other tenements that are not their core focus currently



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 21 2019, 01:02 PM
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In Reply To: blacksheep's post @ Jul 2 2019, 03:18 PM

QUOTE
Nothing like a bit of biffo between competing potential acquirers - may the best man win biggrin.gif


Biffo continues - Former Idaho governor calls Mnuchin to investigate mining company with China ties
By James LeggatePublished July 16, 2019Mergers and Acquisitions
QUOTE
Former Idaho Gov. Butch Otter wants an investigation into an international mining merger he said could tie Chinese investment to the only known cobalt deposits in the U.S. amid a trade war.

The New South Wales, Australia-based Jervois Mining wants to acquire the Vancouver-based eCobalt Solutions, which has a cobalt mining project near Salmon in east-central Idaho.

Otter, who left office in January after 12 years as governor, now sits on the board of the Canadian mining company First Cobalt. Otter recently wrote a letter to U.S. Treasury Secretary Steven Mnuchin, calling on him to investigate possible Chinese involvement in Jervois.

The former governor said in the letter that he believes the merger is the “wrong investment for Idaho and for our nation’s security."

read more - https://www.foxbusiness.com/markets/idaho-g...g-company-china

On the JRV side, cdchi1 and wingman shimmer, and broker mate BW Equities Ben Kay, taking to twitter - https://twitter.com/Cdchi1/status/1152744327690383360



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 11 2019, 03:35 PM
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In Reply To: blacksheep's post @ Jul 2 2019, 03:18 PM

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COMBINED GROUP (“NEW JERVOIS”) HAS STRONG INSTITUTIONAL BACKING AND CAPITAL MARKETS POSITION……WITH INCREASED SCALE,LIQUIDITY AND
DIVERSIFICATION LEADING TO SIGNIFICANT RERATING POTENTIAL


Above extracted from JRV's most recent presentation re the JRV eCobalt merger. The group will have cobalt projects in US, Australian and East African - cklearly focusing on "scale"

Hopefully they are keeping an eye on the future "demand" for cobalt (and of course price)

QUOTE
First generation NCM111 batteries had a chemical composition of 1 part nickel, 1 part cobalt and 1 part manganese, but NCM batteries with higher nickel content (622 and 523 chemistries) are quickly becoming the standard in China, which is responsible for half the world’s electric car sales, and a much greater proportion of EV battery manufacture.

With worries about security of supply of cobalt persisting, the industry is now fast moving towards even higher nickel content with the market share of NCM811 increasing to 2% worldwide and 4% in China in May, a doubling of market share in just one month.

Adamas points out that in China the increased deployment coincided with the launch of a number of new EV models in China using NCM811 cells from battery leader CATL.

World number one carmaker Volkswagen is spending more than $50 billion on batteries to start mass producing EVs by mid-2023 and the company announced earlier this month that from 2021 it would use the NCM811 composition.

Nickel touched $13,000 a tonne for the first time since April on Wednesday. The price is up just over 19% in 2019 as the EV boom creates additional demand and primary use of the metal today – stainless steel production – continues to grow.

Cobalt is now worth $28,000 a tonne after peaking at $95,000 little more than a year ago as miners in the Congo – responsible for two-thirds of output – ramp up production.

https://www.mining.com/surge-in-battery-nic...r-cobalt-price/




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 2 2019, 03:18 PM
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Nothing like a bit of biffo between competing potential acquirers - may the best man win biggrin.gif

Jervois Mining is raring for a fight -
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Rarely has the adage been truer than of Jervois Mining, the feisty ASX-listed base metals developer packed with executives who cut their teeth at Ivan Glasenberg's robust Swiss mining and commodity trading company.

Like Ivan, the Jervois team don't shy away from a stoush. And they haven't taken kindly to the interventions of Canadian-listed First Cobalt Corporation.

https://www.asx.com.au/asxpdf/20190702/pdf/...9h0r23qjrzy.pdf

eCobalt Merger Update, Response to First Cobalt's Opposition
QUOTE
FCC’s Self-Serving and Misleading Opposition to the Merger
On 26 June 2019, FCC issued a press release making false and misleading claims about the
eCobalt Merger.

In response, eCobalt has reaffirmed that the Merger is in the best interests of eCobalt
shareholders and that its shareholders should VOTE FOR the Merger at the upcoming 19 July
2019 eCobalt shareholder meeting and addressed FCC’s false and misleading opposition to the
Merger. eCobalt’s response can be accessed on its website at:

https://www.ecobalt.com/news/news-releases/...r-ofje-20190627.
Jervois feels it appropriate that it also respond to FCC’s false and misleading opposition to the
Merger.

https://www.asx.com.au/asxpdf/20190702/pdf/...9h0r23qjrzy.pdf



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jun 30 2019, 07:25 PM
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QUOTE
Cobalt hopeful Jervois Mining has secured support from AustralianSuper as part of a new $15 million equity raising.

Jervois .. announced has secured the funding at 20c a share — a premium to its last traded price of 18c a share — with AustralianSuper committing to $7.5m. However, the equity raising comes with a catch.

It is conditional on Jervois securing its proposed takeover of Toronto-listed eCobalt Solutions, a deal that has stirred up strong opposition from at least one corner of eCobalt’s share register.

Canada’s First Cobalt, which owns 5.8 per cent of eCobalt, is leading a campaign against the Jervois takeover, arguing it would give up more than half the company and get “nothing of value in return”.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Jan 23 2019, 11:15 AM
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In Reply To: blacksheep's post @ Aug 20 2018, 10:40 AM

Another African project being pursued, this time in Uganda - Kilembe Copper-Cobalt Mine (“Kilembe”) and Kasese Cobalt refinery - sounds like they will need a fair bit of money to get both projects up and running. Market hasn't warmed to this news JRV down 16.36% @ 23c. As at the end of last quarter JRV had $3,8 mil in kitty and estimated outflows this quarter of $2.8 mil and now a proposal to provide US$3 mil to M2 as a bridging working capital facility.

QUOTE
WEDNESDAY MAY 30 2018
Transaction Highlights
 M2 Cobalt’s existing team and deep experience in Uganda provides a strong platform to pursue opportunities at and around historic Kilembe Mine and Kasese Cobalt Refinery
 Entry into Uganda to complement Jervois’ East African ambitions
 Complimentary management teams with combined skill set of exploration, development, financing and capital markets, construction, commissioning and operations
Uganda has continuation of geological trends from neighbouring Democratic Republic of Congo but with greater political and regulatory stability
 Post-Transaction, the Board of Directors will consist of three nominees from Jervois and one from M2 Cobalt
 Existing Jervois Chairman, Mr Peter Johnston, and Chief Executive Officer, Mr Bryce Crocker, will continue in their existing roles
 Primary listing on the ASX and will seek to continue M2 Cobalt’s listing on the TSXV; will provide access to the Australian and North American mining capital markets
Jervois to provide M2 Cobalt with a US$3.0M bridge working capital facility


The haunting legacy of Kilembe mines - pic and extract of some of the history (see link for full story)
Attached Image
QUOTE
Company faulted
“The mine had been abandoned for nearly 30 years and government expected it to be turned around in less than five years. Isn’t that madness?” the official said.
Mr Mwesigwa, however, disagreed with this reasoning, saying “the government packaged the Kilembe mines and carried out a procurement, which had several bidders participate. Tibet emerged the best after the evaluation and entered into the Concession Agreement.”

“They had the benefit of advisors; I did not participate, so I do not know who their transaction advisors were. We enjoy the principle of freedom of contract and a party is bound by the terms of the contracts they freely enter into. It would be inconceivable to imagine that they responded to a bid and actively pursued and eventually entered into a concession when they did not appreciate what it was and the scope or the extent of the investment that was required,” he said.

Therefore, he added that “it is not a question of government setting high standards, which if you ask me, [were] entirely within their remit to do.”
Copper is currently trading at $7,300 (Shs26m) a metric tonne in London, its best run in almost three decades. Had government managed to resuscitate the mines, Kilembe would be back on track.
According to bloomberg news, copper was at $7,289 a metric tonne in April at the London Metal Exchange, after earlier touching $7,312.50, the highest since 2014.

During the 1970s, production at Kilembe peaked at around 18,000 tonnes of copper cathode a year. However, Amin’s nationalisation policy led to things falling apart and also saw most expatriate workers, especially Asians – many of whom were Ugandan citizens – flee.
The mines ceased operations in 1978 as a result of the political strife coupled with a steep fall in prices of copper ore. From 1978 to 1982, the mines was placed under care and maintenance of Kilembe Mines Limited (KML), a state-owned company. In 1992, Kasese Cobalt Company Ltd was also established to recover cobalt from an unstable stockpile of a cobalt-rich sulphide concentrate, and see if one of the units could be converted to smelt copper and other metals.

Concession details
According to the terms of the concession, THMCOL was to pay annual concession fees to KML in its capacity as the asset holding company, as partial consideration for the transfer of the fixed assets to the concessionaire.

The main objective of getting on board a private investor to take over KML essentially fit into government’s plans of reviving mining, but also to resuscitate Kilembe and to encourage further exploration and development of minerals thereat.

Prior to the termination, THMCOL had been routinely faulted for defaulting on key operational terms of the concession agreement such as non-payment of annual concession fees of Shs6b, failure to invest the minimum capital expenditures totaling to $175m (Shs618b), non-provision of an unconditional exploration bank guarantee and failure to submit acceptable feasibility study reports on the Smelter and Tailings Pond Project.”

The winding-up commission established that notwithstanding some work done, “there was little or no work done at 4,300 level; there was no clear indication of what had happened to some of the assets replaced; key operational areas such as the shaft and skip/hoist were not functional and that there was significant encroachment on the mines’ land”. THMCOL in defence said it had been “unable to fulfill its obligations on account of the floods in 2014; when three rivers; Nyamwamba, Nyamugasani and Mubuku burst following heavy rains”.

THMCOL also faulted government for having failed to grant it permits to export 30,000 tonnes of copper concentrate as samples to China for “metallurgical testing” whose results were to inform establishment of a smelter plant and machinery at the revamped Kilembe copper mines.

The commission said it “carefully reviewed the concessionaire’s assertions and established” that although the damage caused by the floods was evident in certain places, it could not have affected other key areas such as exploration and that no force majeure was ever declared by THMCOL in respect of the floods.

A force majeure relates to the law of insurance frequently used in mining to protect the parties in the event that a segment of the contract cannot be performed due to causes that are outside the control of the parties such as natural disasters, that could not be evaded through the exercise of due care.
The commission also deemed the 30,000 tonnes of copper concentrate THMCOL wanted to export as “too large to be a sample for export”. That notwithstanding, the commission also established that the copper concentrate contained several other valuable minerals like gold, nickel and cobalt and that the Concessionaire had omitted to indicate the exact contents of other valuable minerals in the sample other than copper.

Back to square one
One of the things the government has stuck its guns to is value-addition, meaning it wants an investor who will install and operate a copper/cobalt smelting plan to enjoy related downstream benefits.
One official familiar with the matter told Daily Monitor that “it is in that policy that lies the problem” and partly explains why it is government itself “shooting itself in the foot; they are setting the bar too high for investors in a such [Ugandan] environment troubled by so many things.”

Similar sentiments were re-echoed by mining lawyer Denis Kusasira who in a separate interview noted that “the government needs to first realise what it wants from the mineral sector,” the official said. “Sustainable development of minerals does not mean keeping it in the ground for future use; it rather means you extract them, make money out of them and invest it wisely for the future generation.”

For example on the government’s value-addition policy, Mr Kusasira said downstream facilities in mining is not easy to dictate.
“Sometimes the feed stock is not big enough to warrant [smelting] plants but that aside, you need to know where your advantage is; is it in exporting/selling concentrates or finished products?
“The failure to analyse is costing us a lot as a country. No one is against value addition but the process must be defined,” Mr Kusasira said.

Copper alloy, for example, is used in the making of, among others, electrical wires, boat propellers, microchips, fire sprinkler systems, and welding electrodes. By emphasising value addition, Mr Kusasira wondered if the government wants an investor in Kilembe to “make all that here? Would it make sense to any investor?”
The board chairperson of the Uganda Chamber of Mines of Petroleum, Mr Elly Karuhanga, said: “Now we have a second chance to get a better investor. The country never lost the mines; we only lost time. Whatever we missed in the old concession we will ensure we get them right in the new one.”
He added that during the last Presidential Investor Round Table Initiative meeting early this year, they agreed to get on board a new investor for Kilembe by April. Ugandans are still waiting to hear the next step.

Kilembe’s mining history

The first recorded copper discovery in Uganda was by the Duke of Abruzz during an expedition to the Rwenzori Mountain in 1906. But the main commercial deposits were discovered in 1927 by D. Magee who was working for Tanganyika Concessions Limited, which had been given a mineral prospecting licence covering 9,360 square miles.

The company started trenching on the northern side of Nyarusingye stream but had its licence reduced to 200sq miles in 1933. During that time, little work was done on the mines mainly because of accessibility. The Mbarara-Kasese road was not built until 1939. This, coupled with the low prices on the world market and the looming World War II, saw the company abandon the mines.

Government fenced off 155sq miles around Kilembe to keep the deposits safe as it looked for another company to operate them. In 1942, rescue came in the form of Alderson, a Canadian who had developed the Macalder copper and gold mines in Kenya, who interested Frobisher Ltd, a Canadian mining company, forming a joint venture with Rio Tinto, a British mining giant.
The two carried out preliminary investigations and started drilling in 1948 until 1951 when 10.5 million tonnes of ore was discovered and another probable 4 million tonnes more. With ore of that magnitude, it recommended in 1951 that a railway line be extended from Mityana to Kasese, where it reached in 1953.

After the railway line, a power line from Jinja to Kasese was recommended, which brought the projected costs of the copper development to £8m, forcing Rio Tinto to pull out, leaving it to Frobisher.
A cheaper alternative of smelting copper in Jinja was devised, and production started in 1956 with a target of 7,500 tonnes of copper per year. Along the way, Frobisher’s interests were bought by Falconbridge Nickel Mines Limited,

https://www.monitor.co.ug/SpecialReports/ha...8vez/index.html

Further reading - https://www.monitor.co.ug/OpEd/Commentary/D...b9py/index.html

M2Cobalt website shows a thinly traded stock - SP reached a 52 week high of 25c earlier this month - https://www.m2cobalt.com/investors/investor-info






--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Aug 20 2018, 10:40 AM
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In Reply To: blacksheep's post @ Jul 21 2017, 09:28 PM

AFR carried this "rumour" on the weekend - JRV today confirms. Hopefully JRV has the ability to raise the required large amount funds and they can get the Tanzania Govt approval - they seem to be working at "snail pace" on approving existing ML's that were subject to review by the Mining Commission last year.

QUOTE
Jervois Mining confirms application for Kabanga nickel-cobalt deposit in Tanzania
SUMMARY
• In response to weekend media speculation, Jervois Mining confirms it has submitted an
application for a Prospecting License (“PL”) over the Kabanga nickel-cobalt deposit in the
Kagera region of Tanzania.

• Jervois believes Kabanga to be the highest quality undeveloped nickel-cobalt deposit in the
world, with a Definitive Feasibility Study (“DFS”) envisaging annual production in excess of
50kt nickel with significant cobalt and copper co-products. Previous owners invested
significantly in drilling and studies.

• If the Tanzanian Government grants its application, Jervois will update the Kabanga DFS and
Social and Environmental Impact Assessment (“SEIA”) and obtain construction and operating
permits to facilitate project financing.

• Jervois has assembled a team of highly experienced executives and advisers and has the
financial and organizational resources to undertake financing, construction and a successful
transition through development to operation.

• The Jervois team has studied the new laws and regulations in Tanzania’s mining sector and
believes they form the basis for a highly successful project, the scope of which includes
processing of concentrate in-country to take advantage of rising demand for raw materials in
lithium ion battery cathodes.

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 21 2017, 09:28 PM
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In Reply To: nipper's post @ Nov 4 2016, 09:06 AM

Seems the "bustling" mining man with the midas touch has worked his magic on this stock also. lmaosmiley.gif

Another glowing report from Barry Fitzgerald - he must have a direct line since he gets all the scoops - http://www.sharecafe.com.au/barry_fitzgera...AV&ai=44872

QUOTE
Little wonder then that the new guard at Jervois was able to easily pull in $1 million from a recent placement of shares at 6c each to a group of professional and institutional shareholders brought together by BW Equities. Melbourne’s bustling Tolga Kumova is believed to have taken a whack.


http://bwequities.com.au/transactions

Attached Image





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 4 2016, 09:06 AM
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Pierpont has a rather jolly article on Jervois Mining today in the AFR - not on-line yet and pay-walled when it is - where he says he wants to become a director. The current 3 directors racked up $580K in salaries and fees, he states, and all based on a total income of $20K. Lawyers seem to be active, as well, with board ructions and defamation threats. One to avoid, I suspect.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
ditch
post Posted: Feb 13 2012, 07:36 AM
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Interesting analysis of EMC Metals, JRV's upcoming partner at Nyngan, by Laurentian Bank Securities:-

http://www.vmbl.ca/Actions/1/Multi-metal%2...age_May2011.pdf


Said 'Thanks' for this post: Yeti  
 
 


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