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JRV - Jervois Mining

Discussion in 'Stocks I-P' started by SLWK, Dec 9, 2004.

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  1. mr_delta

    mr_delta

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    Hi Ausboi,

    Welcome to the world of JRV....so much potential yet the market cannot forget the dejections of the last few failed JV attempts....the present JV is the most promising of all the previous ones as in the size of the China Rail entity and their willingness to pay the first tranche of $1m as promised....hence by the looks of it we are on goer but is the market interested in this? NO !!!!

    Reasons are many - the current state of the market, the previous failed JVs, 42 year old company with a 75 yr old CEO....the list is endless...

    But the most interesting / important thing for us shareholders is that they have the stuff in the ground and now have a willing JV partner and a technology to leach this low grade Ni....

    I am sitting pretty tight on my holding and plan to buy if it hits 2c (already in the queue from 2c downwards....(I hope I do not get filled though !!!!)
     
  2. Touch of Gold

    Touch of Gold

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    The 31st October agreement Deadline is less than 6 weeks away, Nickle prices moving up, lets hope the market stays positive and the SP heads north..
     
  3. ronster

    ronster

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    Whether or not the Chinese proceed(I think they will)won't be to do with the current price of nickel.I just can't imagine anyone basing their decision to spend $600m on short term price blips.The chinese are long term strategic thinkers(like the West used to be before getting caught up in short term thinking).
    It's a pity that the SP is flat, there is so much baggage attached to Jervois it's hard for it to fly, perhaps when(if) the contracts are signed at the end of Oct.

    I note that the only significant shareholder, Norm Seckold (of Bolnisi fame) hasn't sold any.
     
  4. mr_delta

    mr_delta

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    Hi Ronster,

    If Norm Seckhold sold even a single share, does he have to inform the ASX within some specified time frame? From my understanding he does have to. Hence, I think your assumption is based on that logic, correct?

    I have done some research on him and I like what I read. No Warren Buffet but still good profile. I have doubled my holding in JRV in the last 3-4 months based on his buying in and the January 08 announcements of Japanese investors buying in.

    Not too long to go now for Oct 31st...time will tell if I have done the right thing by holding on to this one for almost 2 years now...time will tell...
     
  5. Touch of Gold

    Touch of Gold

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    The biggest reason for SP being flat is that JRV has been here so many times and at the last minute the suppose-to-be investor pulls out. I know it sounds like a bit of a cliché, but this time it looks more promising and I've held JRV for a long time. The three major Chinese investors and the history of these investors are very promising. Will it happen, I surely hope so. As soon as there's a hint it will, the SP will move north and won't look back.....
     
  6. mr_delta

    mr_delta

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    Well to be fair on Duncan Pursell, the last one with the Chinese (Guang Ye) did not happen as the Chinese kept on extending for months and then walked away....Regarding the fiasco with INL, I am glad it didn't go ahead as INL doesn't have anything in cash terms to finance a half-a-billion project....well, there have been some mis-fires but lets hope this time the gun is properly loaded and Duncan hits the bulls-eye...

    In a way these previous failed attempts have hardened the share-holders and it will be interesting to see the reactions of all cynics (holders & non-holders) if this deal goes through...
     
  7. StatsMan

    StatsMan

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    Hi all,

    I'm a newbie to ASF, but think that it is a terrific site! I am a relatively young investor and recently bought some JRV for the long hall, because I suspect that they have big things ahead. I was just wondering if anyone out there has a feel for what the true value of the share price might be if the Young Nickel/Cobalt project was to ramp up to full production?

    Cheers,

    StatsMan
     
  8. Miner

    Miner

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    StatsMan

    Welcome to the family of ASF

    Please make full use of this site with your thoughtful contribution as well as taking help from many of the regular contributors in this site

    Please also visit compare shares site and consider for voting ASF

    Regards

    Miner
     
  9. mr_delta

    mr_delta

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    The believers in JRV talk of the millions of tonnes of Ni / Co in Young and Nyngan deposits. this is well documented. But the biggest surprise packet could be Scandium for JRV. They have a huge deposit for Scandium but Scandium consumption worldwide is limited to a few tpa. The argument here is that the Scandium consumption is very low due to lack of known resources. With JRV, they have the resources. I think if this JV with China Rail gets going, JRV will have enough cash to pursue this exotic metal and if they can get a mine going for Scandium we are onto something big.

    Coming back to your original Q, the PoN attoday is woeful and not commercially viable. But this is the beauty of all metal price. They can be out of favour for some time but can come back with a bang. If JRV gets the pilot running and the price of Ni turns greener, then the sp can bolt as the public sentiment will be back with Ni scrips which is not there atm...
     
  10. StatsMan

    StatsMan

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    Hi Mr Delta,

    thanks for your reply and for pointing out the info about the Scandium deposit - I'll have to read up on it! I'm curious that you say that the operation isn't commercially viable at the moment because the price of Nickel is "woeful". I'm just wondering why you regard it as being so bad at the moment. I checked the historical data here: (http://www.kitcometals.com/charts/nickel_historical.html) and from my perspective it looks like the nickel price is historically high. Granted, it isn't quite as high as it has been in the recent past, but it still looks to be quite high to me. I'm interested in your thoughts (or anyone else thoughts) on how high the nickel price would have to be in order for the JRV operations to be viable. Any thoughts?

    Cheers,

    StatsMan
     
  11. Touch of Gold

    Touch of Gold

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    Quote me if I'm wrong, I do remember a production figure of around $8,500/T. Still highly profitable at todays market price of $18,500/T. Only last year it was $53,000/T. Cobalt as a byproduct is what makes it even more interesting. Scadium demand is rising and the possible production purity at Nyngan 99.9% Sc2O3 (Scandium Oxide) may be the next big mine to follow.
     
  12. StatsMan

    StatsMan

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    Thanks for that - I'll check up on the $8,500/T figure. If that is the case, it sounds like a very profitable venture doesn't it ??!! So, where is the problem - is the problem for JRV? Is it that it will require a lot of capital investment to create a profitable mine?
     
  13. Bohaty

    Bohaty

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    Something in the news recently about JRV

    Miner opens Young office
    CAMPBELL WALKER
    11/09/2008 10:08:00 AM
    A Melbourne based mining firm negotiating with two Chinese companies to establish a nickel and cobalt mine near Young will set up an office presence in Young this week.
    Jervois Mining Limited, which in June this year signed a Framework Agreement with China Railway Resource Company and Yunnan Jiaming Technology, has leased an office in Lovell St and appointed one of its Melbourne staff to take charge.
    Helen Foster arrives in Young today to take on the office manager duties.
    Jervois’ project manager Allan Pursell said the office would also provide storage facilities and would be shared with the visiting Chinese interests.
    The three companies have signed an agreement to advance a huge nickel project at Thuddungra, with China Railway Resource Group to invest an initial $45 million and Yunnan Jiaming Technology providing technological expertise.
    A formal agreement is due for completion by October 31.
    Should it proceed the project is expected to create a major boom in the region and would offer strong job opportunities.
    Jervois has exploration leases on 265 kilometres of farming land near Young, over what is considered to be one of Australia’s biggest untapped nickel deposits, which is 32 kilometres in length.
     
  14. StatsMan

    StatsMan

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    Its nice to see another news item on JRV (they don't come along that frequently!). Hopefully this is good news and suggests that the deal with the Chinese is still looking promising. I've been reading that the recent glut in the Nickel price is likely to reduce production from the less profitable Nickel Laterite mines (such as the one proposed by JRV), so hopefully the investors are taking a more long-term view of this project!
     
  15. Touch of Gold

    Touch of Gold

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    I don't think JRV would set up an office if it didn't think the process was moving forward and the gears were starting to link together. The current price of Nickle is still profitable but they would think twice if it drops to $12,000/T and whether to proceed to full production. The initial $45M to confirm production is a pittence to these big Chinese Corps and if they decide to go the full hog and ramp up production it would take another 4-7 years. Maybe they know something we don't and by then, Nickle could even be a lot higher..........

    I own JRV, DYOR
     
  16. mr_delta

    mr_delta

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    Statsman,

    every mine/production technique (and every metal) have a different point where it can be profitable. I am no expert on this but from whatever little I have read on this points to the fact that JRV has very high tonnage of Ni but at less than 1% gradation. Hence for them to be profitable, their receovery process has to be extremely good or else they can loose vital % of metal in this process. Hence for cases like JRV, the Ni price has to be high to be profitable (as I mentioned earlier, I am not sure how high it has to go as I am not aware of the cost of their recovery process).

    But the most important fact which no one can ignore is that they sit on top of one of the largest Ni deposites in Australia (tonnage wise - not grades wise). Hence, sooner or later it will be profitable to mine this and process this. Lets hope that "now" is the begining of that "time". China Rail are really the people with money bags and I am pretty happy that JRV is not going into this with a minnow....if the profile of the JV partner ever made an impression then IMO the profile of China Rail is impressive....
     
  17. StatsMan

    StatsMan

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    Thanks Mr_Delta, glad to see that someone else is optimistic about this company too! :) I checked out the China Railway Corporation's website, but wasn't able to find anything about the other company which I believe is called "Jiaming" - does anyone know anything about these guys?
     
  18. Bohaty

    Bohaty

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    Finding info regarding the companies is not easy, however I've
    got a feeling that China Railway Corporation's and Yunnan Jiaming
    are not the same company. JRV's announcement in June states
    that "a satisfactory agreement to all THREE parties must be entered
    prior to 31 October".
    Also when the Chinese delegates visited Young a few months back, the chairman, deputy chairman and chief engineer of the China Railway Resource Company and the director of the Yunnan Jiaming company made an appearance.
    Once again, 2 companies working together on this possible JV with JRV?
    However putting that aside, since the signing in China in early June an early contractual arrangement to pay Jervois Mining an initial $1million payment has been honoured.
    Whoever they are, they seem to be in it for a long haul. Only pen on paper
    on 31 Oct will possibly ease some doubt as to whether this JV is genuine.
    I've owned JRV shares since 2003 and as things start looking up, they turn
    sour very quickly. However this looks a lot more promising.
    Fingers crossed......
     
  19. refined silver

    refined silver

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    With all the turmoil in the financials and on Wall St, China must surely ramp up its diversification away from the USD and into securing the resources it needs for the future.

    Hopefully JRV will be a beneficiary.
     
  20. woltage

    woltage

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