# JRL - Jindalee Resources



## 56gsa (9 February 2007)

There have been a couple posts on JRL and its pricing compared with NTA, particularly its holding in EME.  Perhaps this has flown under the radar?  But that may be because the directors of JRL are flying so low... 

Certainly the NTA discount has been considerable as highlighted on page 1 of JRLs last annual report.  JRL sp should be approx 40% of EMEs sp based just on JRLs holding in EME.  So on close today JRL should have been $1.52 instead of $1.30.  JRL also hold 2.7m URA shares + cash so sp should be even greater.

Now this gives zero value to other projects - but from what i can find there hasn't been much activity on these and while JRL directors claim they are looking for more projects they haven't been too successful!

Other projects:

Gold
Yilgangi (Newcrest earning 70%)
Kirkalocka (Equigold earning 60%)

Nickel
Mt Gibb (JRL 20% free carried)
Kilkenny (GME earning 70%)
Bow River (JRL 100%)

Iron Ore
Joyners Find (GWE earning 60%)


Any others looked at JRL?


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## deftfear (27 February 2007)

I've held JRL for a month or so now, did a little research on it but then focused my time on EME. At the time it was at a good discount to it's NTA which it still is, but at even more of a discount now. 

JRL's holding in other companies are:

EME - 10,000,000 x 4.75 (last traded price as I write this) = $47,500,000

EMEO - 5,000,000 x 4.49 (last raded price) = $22,450,000

URA - 2,704,000 x 0.80 (last traded price) = $2,163,200

Total value of these shareholdings alone = $72,113,200

Plus cash at end of December of $3,854,000

Plus exercise of unquoted options (see below) $1,971,250

Total value of tangible assets = $77,938,450

Total JRL shares on issue 29,869,775 (quoted on the market) plus 5,225,000 unquoted options at various exercise prices of 30c, 35c and 45c.

Total shares = 35,094,775

Share price $1.47

Market cap = $51,589,319.25

NTA per share is $2.20.

Therefore JRL is trading at a discount of about 33% to it's NTA and that doesn't take into consideration the other projects that 56gsa mentioned earlier.

Anyone have anything to add to this? Anyone actually looked at the projects at all?

The problem with JRL and EME is that they are very thinly traded, and the price swings a lot.


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## sydneysider (27 February 2007)

deftfear said:
			
		

> I've held JRL for a month or so now, did a little research on it but then focused my time on EME. At the time it was at a good discount to it's NTA which it still is, but at even more of a discount now.
> 
> JRL's holding in other companies are:
> 
> ...




U will find that the market always discounts the value of minority shareholdings. The holding company can always sell the shares and put the money into developing its own projects and "enhance" shareholder value. So do u want an investment conmpany or a resource company?


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## deftfear (27 February 2007)

I basically bought it because of eme, looks like it could be a near term producer of Uranium. The shares are held in escrow till September I think and I wouldn't be suprised if there was an inspecie distribution of JRL's holdings in EME. They could also look at selling all the shares to PDN which would give it effective control of the birgyli project and seeing their buying spree of late I don't think that is out of the question.

Yes they could sell the shares in eme, but it can't happen anytime soon so I saw this as a cheap way of buying eme shares and getting them at a discount.


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## 56gsa (22 March 2007)

OMG  stop the presses!!  this is hot !!  JRL have made an announcement on their other projects - this is the first since 28 Nov 2005 (apart from info in qrtly reports etc) - those directors are really working overtime although they did keep the same title as the one 1.5 years ago!

not that impressive re gold drilling so thats maybe why we don't hear from them much...

still, as noted above, they are running large discount to NTA atm (ever larger than Jan07) - i like deftfears suggestion that they may sell EME holding to PDN when they come out of escrow in Sept - trouble is the directors would then have to work to do something with the proceeds - oh no, thats right, they can just do in specie distribution!

i don't hold but maybe this is a sign the directors have read the latest "PR for dummies" and we could see a rise??


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## deftfear (27 March 2007)

AS of today's close the NTA is now around 2.57 and still has a discount of around 33% to the Share price. Does anyone know if they are allowed to sell their shares in EME if a takeover is made if the shares are still held in escrow? Could be a problem to any potential takeover if they cant.


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## deftfear (11 April 2007)

I've done up a basic excel file which can calculate the NTA of JRL (with input of EME, EMEO and URA current share price) The firgures are slightly old now, need a new quarterly cash flow report to come out to update it. 

As usual it is trading at a reasonable discount to it's NTA. It should receive some GWE shares when it floats (about 250,000 going off the last substantial shareholder statement) but it wont have much of an affect on NTA.

Was a little disapointed with EME going up so much today and little action from JRL, but such is life.


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## nizar (11 April 2007)

Agree.
JRL is the discount entry into EME.
Market is inefficient but i believe OVER TIME that JRL will be trading closer to its value.


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## nizar (11 April 2007)

JRL assets

10million EME shares @ $7.60 = $76,000,000
5million EMEO options @ $6.35 = $31,750,000
2,174,000 URA shares @ $0.79 = $1,717,460

Cash = $9million

Value of other assets = 0 

Total = $118,467,746

JRL shares outstanding = 29,865,775

Value per JRL share = $3.97 (with assigning 0 to JRL other assets)

(JRL close today $2.47)

Pretty compelling discount


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## jmclean1 (12 April 2007)

EME share price has risen a further 8% today.JRL is poised to shoot soon in my opinion.  The board is looking at selling their share in EME and has suggested that this deal is being looked at closely.  It has been two weeks since the announcement and a further announcement should be out soon.

We could be looking at $3.50 in the next week or two should this proceed.


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## Sean K (12 April 2007)

jmclean1 said:


> EME share price has risen a further 8% today.JRL is poised to shoot soon in my opinion.  The board is looking at selling their share in EME and has suggested that this deal is being looked at closely.  It has been two weeks since the announcement and a further announcement should be out soon.
> 
> We could be looking at $3.50 in the next week or two should this proceed.



JMc, you need to provide some more analysis for you targets here. FA and/or TA. Cheers.


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## dj_420 (12 April 2007)

i agree on this one, i have been getting set for a number of weeks here.

EME has exploded, now trading at 8.14

again to reiterate what nizar has stated:

JRL owns

EME 10 million shares @ $8.14 = $81 400 000
EMEO 5 million options @ $7.50 = $37 500 000
URA 2.174 million shares @ $0.80 = $1 739 200

Cash $9 million

Without valuing any other JRL assets

Total = $129 639 200


JRL shares outstanding = 29,865,775

Value per JRL share = $4.34

This is not placing any value whatsover on any of JRL other projects. this value keeps increasing every day due to EME been significantly re-rated.


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## Sean K (12 April 2007)

The graph in this report represents the effect of EME on JRL pretty well.

http://www.jindalee.net/docs/JRL 4 Apr 07.pdf


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## dj_420 (13 April 2007)

JRL looking good, very tightly held still lacking volume for sellers.

with EME and URA increasing everyday its looking better and better.

YT what is your take on this one?
cash and asset valuations put this one well over $4, currently tradin under $3 this stock has lots of room to move.

i will start to put a valuation on JRL other projects


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## dj_420 (13 April 2007)

also interesting to note that JRL hold almost 40% of EME shares, meaning they have a great blocking stake in EME. 

so if majors start looking at EME a possible entry would be through JRL.

EME have uranium deposit in NT


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## nizar (13 April 2007)

DJ i have looking at this one for a while.

The only concern i have in the short term is BOTH EME and JRL are looking toppy and have been on great runs.


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## dj_420 (13 April 2007)

agree nizar would like to see some consolidation at these levels.

JRL has small market cap though of 75 million and tight register


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## j4mesa (13 April 2007)

I know that you are a short termer Niz...
What's your view on the long term ????


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## nizar (13 April 2007)

j4mesa said:


> I know that you are a short termer Niz...
> What's your view on the long term ????




Long term its a winner.
Those JRL shares are in escrow until september, and will act as a blocking stake for a takeover (Denison is on the register of EME)

And EME are already drilling TWICE as many holes this time as Denison, we all know EME's uranium is high grade, now all we need them to do is increase the resource.

And remember Blgri is in N.T, no political dramas.

All the above in my opinion, only


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## j4mesa (13 April 2007)

Thanks Niz...opinion considered....


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## pingkie_o (15 November 2007)

With the latest announcement from EME, the 1 for every 20 rights issue. I think it should be a positive news for JRL....any thoughts?


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## pingkie_o (10 January 2008)

Hi there

JRL just announced their NTA of $1.86 that is substantially higher than the market price. This announcement resulted in a jump of the share price from $1 to a high $1.17 then ease to $1.10

Opinion....anyone?


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## wolverine (22 June 2008)

the current state of play on JRL with regards to liquid assets and allowing that a corporate advisor has been appointed to EME and it is more likely than not JRL will deliver control of EME to the highest bidder. 

EME 33,900,000 @ $1.35 = $45,765,000
EMEO 9,100,000 @ $1.25 = $11,375,000 (intrinsic value)
GTE 2,249,612 @ $0.054 = $121,479
AHR 1,200,000 @ $0.10 = $120,000
ALY 10,000,000 @ $0.09 = $900,000
URA 2,542,000 @ $0.18 = $457,560 (about 1.4c per share)
Cash = $1,936,000

TOTAL = $60,675,039

total shares on issue 31,944,775

so about $1.90/share after the metallurgy on Bigrlyi was released and perhaps a little more to come in the near term with the scoping study mk II. 

last trade 90c.


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## Seek$ucce$$ (26 June 2008)

Thanks for that Wolverine.

I think everyone has converted the options to physical shares...JRL now hold 41% of EME.

A lot of uranium stocks are rallying lately. Many of fund managers start to find value in uranium producers such as ERA and PDN...other hopefuls, smaller explorer companies with proven assets such as EME follow suits for its increasing takeover appeal. 

The logic behind this is uranium is the best available alternative energy to oil to satisfy the world's demand. 

Uranium spot price is moving around $60 at the moment. It has been $140 in the past....
Assuming the demand of uranium increase and the uranium market maturing like other commodities...if we just use the average of $90-$100 spot price, many uranium companies are undervalued by at least 30-40%. 

We still have not taken into account the possible upside of *Yilangi gold tenement (partner with NCM)*. They made an announcement of "encouraging result from Yilangi" last year...any opinion on this one?


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## prawn_86 (26 June 2008)

SeekSuccess,

Instead of posting the same generic thing on every thread why dont you give some actual reasons why each stock is undervalued.

Also, why are you using $100 as the spot price. Isnt it back to about $60 at the moment.

Some actual analysis would not go astray. Any more generic posts will be removed.

prawn


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## woltage (28 June 2008)

I'm going to take a stab at valueing JRL, what else would I do on a saturday night 

1) ONLY taking into account its 40% value of its share in Bigrlyi, with the following assumptions
	- Uranium @ $60 AUD/lbs
	- Ignoring the Vanadium
	- Operating costs to extract/process Uranium of 25% (complete guess, I have no idea of operating costs)
	- Uranium extraction percentage of 80% (quoted by EME as > 90%)
             - Paladin pay 50% of the estimated worth of the resource (well my estimation anyway 
	- Cash of $45 Mill (as quoted in latest QR)

2) COMPLETELY ignoring its other assets, notably
	- Yilgangi (20% carried) 8m @ 0.52 g/t Au (Avg of 17 drills)
	- Bow River (100%) 7.3m @ 0.98% Ni and 0.84% Cu (Avg of top 2 drills)
	- Joyners Find (40%) 7m @ 58% Fe (Best drill)

23 Mill Lbs x $60 AUD = $1380 Mill
$1380 Mill x 0.54 (% EME) x 0.8 (Leaching) x 0.75 (Operating Costs) x 0.4 (% JRL) x 0.5 (Paladin) = $90 Mill + $45 Mill (Cash) = $135 Mill

Current MC = 30 Mill
135/30 = x4.5!

Which is incredible, surely i'm missing something. Somebody with more experience care to critique?

Anyone know the price of Vanadium?

Disclosure: I don't hold (but soon will be


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## prawn_86 (29 June 2008)

Hey Woltage, good to see new members contributing so early. 

I must admit i havnt even looked at a chart of JRL let alone read the announcements, so these are just some general tips/pointers/observations.

The figure you have calculated seems to be a cross between in-ground value (IGV) and potential earnings.

You have come up with 1.3bill IGV. Depending on market conditions and sector, conservatively you can say that firms should trade around .5 - 1% of IGV in a bear market. This is very loose approximation and is not backed by any form of theory whatsoever, more just an observation of various fundamentalists. So at 1% of the figure you calculated that would put their MC at about $14mill.

From an earnings perspective, you would need to break that 135mill you calculated, up into yearly amounts and work out an EPS value. If you were going to get right into it you would assume they would start a small operation 1st and then ramp up production.

So using the 135mill say over a 20 year mine life gives a very loose/innappropriate value of 6.75mill per year. Put a PE of 10 on it and it would suggest the co should be valued at about $70mill MC.

Notes to the earnings (which i have not done) are that you really should discount for time value of money, money today is worth more than money in the future. And you should include likely dilution to the shares on issue, ie - the firm is going to need to raise capital (usually by share issue) in order to get into production, which would then bring the EPS down as there are more shares.


Like i said these are just a few pointers on what i would do, but your figure of 4.5x is probably not a realistic SP target.

Always like to see new fundies here though, too many of those chartists floating around...


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## wolverine (29 June 2008)

the new scoping study should help answer a few of these questions if the JV partners allow the release of the finer detail.  (ie PDN are likely to try to block or reduce the level of detail).  

i would work more with a price that say halves the difference between the quoted spot price and long term price.  so maybe using USD$75/lb or say AUD $80 might be appropriate.  

the old scoping study is superceded but roughly speaking EME was predicting 1m lbs p.a. U308 and V205 (i have rounded up for simplicity). 

1m lbs U308 @ $80 = $80m p.a.
1m lbs V205 @ $15 = $15m p.a.  

8 yr mine life (likely to have been extended with recent drilling and/or higher mine throughput maybe 1.5m -2mlbs p.a.)

from memory they flagged capital costs of around $70m but the recent metallurgy might point to savings of around $5m-7m as acid leach.   nevertheless EME cap costs should be about $35m.  

now again roughly speaking the cash costs should be in the order of $20-22/lb maybe lower given the excellent recoveries with acid leaching.  

with a $15/lb credit for the vanadium the uranium leg should be quite robust even at lower prices but higher (ie long term contract prices) they appear to be fairly attractive.  

EME will be sold by JRL soon enough then the value will be released.  

we still don't know what the strip ratios (high!?!) will be at Bigrlyi and whether PDN  continue to 'slow play' their hand.


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## Seek$ucce$$ (7 July 2008)

prawn_86 said:


> SeekSuccess,
> 
> Instead of posting the same generic thing on every thread why dont you give some actual reasons why each stock is undervalued.
> 
> ...




Hi Prawn,

If you carefully read my post, I said "*assuming* the demand of uranium increase"  
I am also very well aware that the spot price is around $60/pounds TODAY.
It is only my OPINION it will go up IN THE FUTURE

This is what I found from Macquarie:

Macquarie ups uranium supply forecast following mine site visit at Uranium One's majority owned Kazakhstan mine; Kazakh production to rise strongly in short to medium term, should be enough to keep underlying market roughly balanced in 2008, at least 1H of 2009. Beyond that market expected to gradually tighten through 2012, as expected reactor forward orders more than account for global mine supply growth.Expected spot price at $65 per pound for 2008, down from $99/lb in 2007, for next year at $88/lb.

Macquarie's OPINION is that the spot price will likely to go up than down due to new reactors being built and hence, increase demand.

Nobody can possibly know the exact price of uranium spot in the *FUTURE*...we all can give our OPINION just like you or Macquarie


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## Seek$ucce$$ (27 August 2009)

EME and JRL (Parent company) are in trading halt today! I wonder if it is a takeover announcement? Let's hope so

Denison to draw the first blood in the takeover saga and PDN with a counter offer valuing EME at $2/ share ****wishful thinking****


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## BuffetJr (30 August 2009)

Could be intresting Seek.

I am fairly confident the trading halt, referred to as 'pending corporate transaction on EME', is either of the following:

1. TKO offer for EME
2. JRL have finally found a buyer for their EME stake (refer Nov 2008 chairman's address where they flagged this occurring this year).

Obviously I would prefer the first scenario, since that would be a significant TKO premium. 

TKO premiums average around 20% to 25%, however given how many EME shares are controlled by EME directors, and JRL, you would think they could squeeze quite a bit more out of any suitor if they negotiated a price at which they would agree to the TKO.

Either way, if any of the above two eventuate, I would expect a significant amount would be returned to JRL shareholders, again as flagged in Nov 08 chairman's address.

BJr


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## Seek$ucce$$ (8 September 2009)

Hi Buffet,

CONFIRMED!! A takeover $1.02 bid from a Chinese company for 70% of the company.
I really think PDN will not sit still. They have HUGE stake in Birqlyi to just keep quiet, let's the auction bidding begin!!

I own shares in JRL.


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## p1ct1sh (9 September 2009)

*Do I have this right????  JRL should be nearer $1.50/share?*

I am calculating that Jindalee's shares are worth in the region of $1.54 each based only on the value of the company's holdings of Energy Metals shares at the $1.15 EME hit today.  JRL is trading at $1.04 as I type.  That is a 50c/share discount and excludes JRL's other shareholdings and properties!!!!!  Do I have this right????  I took the $1.15, multiplied it by the approximately 47,000,000 EME shares I believe JRL holds and divided that value by the approximately 35,000,000 shares of JRL that are outstanding (fully diluted).  Has anyone else done this and come out with similar results?  Am I in error?


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## Seek$ucce$$ (9 September 2009)

You are not in error
I also hold JRL for almost 3 years...my average entry was 1.90...this is back when uranium price was skyrocketed

JRL always trade at discount to its NTA (huge discount), your calculation of JRL's NTA is accurate 
I think market is giving discount due to risks. Takeover could fail for whatever reason
But when it is succeeded, JRL will hold CASH worth 1.50/ JRL shares...that would bring the price closer to 1.50 or slightly more than 1.50 to reflect JRL other assets and potentials
With or without counter bid...I believe JRL could give capital return of $1/ share to shareholders


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## BuffetJr (9 September 2009)

Pictish

I have a spreadsheet for JRL's assets (incl its EME shares, cash and its other various shares).

At EME SP of $1.02 and all its other assets, the NTA per JRL share is exactly $1.50.

Today I added a 'if TKO approved' section, and then assumed an ongoing EME SP of $1 per share. That worked out to an NTA of $1.60 per JRL share.

As seek stated though JRL has always traded at huge discount. And a very unfair discount...no other company I know of suffers from a discount THIS deep.

Important think to note though is tha this discount is due to risk of the EME shares plunging. If the TKO happens, this is largely derisked since most of their asset will be cold hard cash! So the discount to NTA should reduce.

At least thats my theory...

BuffetJr

PS: If you are interested in another asset play, take a look at Platsearch (PTS) and particularly its investments in EFE and WPG (and shortly another spinoff Thompson Resources hopefully). Nowhere near the same arbitrage value as EME/JRL but then again these once in a lifetime opportunities are just that, once in a lifetime :


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## p1ct1sh (12 September 2009)

Based on these $1.50-$1.60/JRL share estimates I have put my $$$$ where my mouth is and have added to my Jindalee holdings these last couple of days.  Assuming the EME takeover indeed happens, I wonder what Jindalee will do from there?


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## BuffetJr (12 September 2009)

Pictish

*IF* the TKO happens, then I believe JRL will at some stage return a LARGE chunk to shareholders. And they have previously flagged this will be in the form of a fully franked dividend...which is of course because they will no doubt have to pay tax on the profit of their EME sale, so they will have franking credits to pass on.

We will then be left with a company with around 14M shares in EME still (which should still be worth around $14M...and a bundle of other investments (worth around $5M at the moment), and probably quite a bit of cash (Assuming they dont distribute the entire EME sale proceeds).

So a company with a min asset amount post TKO of around $20M...and their market cap is around $33M. So it could fall quite a bit, but the point is the fall will not be as big as the cash distribution they make.

So its now an arbitrage play in my view...however, with the risk of the govt not approving the TKO.

I cant imagine them not though, i mean, firstly its not a full TKO, only 70%, and secondly, EME only have around 50% of the project...so technically the Chinese are only taking 35% interest in the project!

But who knows how these politicians' minds think.

BuffetJr


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## Seek$ucce$$ (14 September 2009)

Hi Buffet

Do you mean post TKO, JRL *STILL* hold 14M EME shares? I thought they intend to sell their 40% stake (ALL holdings)

Scenario 1: 
If JRL only sell 70% of their holdings in EME (around 40 odds Mil shares) then they will be left with 12 -14 Mil shares like you said

Scenario 2:
But if JRL sell ALL...shareholders will be left with cash only (at this stage I dont consider the other assets/ projects)

I prefer 1st scenario 1 

I believe Birqlyi has more potential than meets the eye... PDN have inside information and I pray that PDN will counter offer ...but either scenario, shareholders will get good capital return or franking dividends

Questions:
What happens to the EME options? EMEO? are they trading in the open market? I think most of them are expired already but please shed some light on this matter


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## Seek$ucce$$ (16 September 2009)

Dear all, 

This is the latest audio from Lindsay Dudfield

http://www.brr.com.au/event/60617

good luck to all


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## BuffetJr (16 September 2009)

Seek

The EME options (EMEO) expired in 2008...there are only some unlisted options left (held by EME directors i assume).

JRL are taking up the TKO offer...ie selling 70% of their stake. They have 46.8 million shares in EME at the moment . So if they offload 70% of these they will have 14.04 million shares left.

I assume they will take up the 1 for 9 rights issue, which means they will then buy 1.56M EME shares at 90c each...thats assuming they are able to partake in the rights issue (not sre if there is a clause precluding them from doing so...cant see one).

BufferJr


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## Seek$ucce$$ (29 September 2009)

Hi people....
JRL also owns 9,300,000 shares in ALY which rallied recently from 0.50c to around 0.80c now...

I think some exciting announcement is coming from ALY! I put my money where my mouth is and bought another 10,000 JRL shares at 0.93c yesterday...hopefully it pays off

After selling 70% of it's EME's holding at worse case scenario $1.02 takeover price, JRL will be flushed with cash...like $1/ share...I really see limited risk from here on


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## p1ct1sh (30 September 2009)

Thanks for the heads-up on ALY.  I visited their website and read-up some on their projects.  Up until now, I have considered JRL a one trick pony.  No more!!!!!  I added to my position a couple of weeks ago on the back of the EME offer.  ALY is icing on the cake.  JRL really needs to update its website to reflect the value of its holdings.


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## bonkerrs (12 January 2010)

What is it with JRL?! No trades for the last couple of days!! And no annoncements either... could it be just no ones trading this share?


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## radioham6 (1 July 2010)

Very quiet thread this one compared to others.....

I note that the above company announced on the 31st Of May, offering 0.55 cents a share,  fully franked dividend.

 Event Date
Announcement of Dividend 31 May 2010
Shares commence trading “ex Dividend” 9 July 2010
Record Date 15 July 2010
Payment Date and Despatch Date 23 July 2010

At the time of writing today closing at 1.35.

Anyone willing to comment on this?


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## springhill (13 August 2012)

MC - $7m
SP - 21c
Shares - 35m
Options - NQ
Cash - $6.3m (+14m Energy Metals shares, +11% stake in Alchemy Resources) Cash + shares = $10.9m.

JRL has a cash + investment equivalent of 31cps. *Current SP running at a 10 cps discount*. They are also free/loan carried to various points in a number of projects with different ASX listed companies.
Details below.

*Energy Metals (Jindalee 9.1% of issued capital)*
Jindalee holds approximately 14 million Energy Metals shares, giving shareholders continued exposure to the development of the Bigrlyi uranium‐vanadium deposit and the potential of Energy Metals’ other uranium projects.
During the quarter, Energy Metals advised that the trial shipment of uranium concentrates to its largest shareholder China Guangdong Nuclear Power Company (CGNPC) had been postponed due to delays in receiving documents from Chinese government agencies. On 17 July 2012 Energy Metals announced that all prerequisite approvals had been received and that the company was working with the Australian supplier to ensure completion of the shipment by 31 October 2012.

*Murchison (Jindalee 20% free carried)*
The Murchison Project comprises over 600 km ² of prospective greenstone, mostly located between the Big Bell Mine (2.8M oz) and Paddys Flat (2M oz). The Project is a Joint Venture with Alchemy Resources (Alchemy) with Jindalee’s 20% interest free carried to completion of a Bankable Feasibility Study.

*Yilgangi (Jindalee 20 % loan‐carried)*
Renaissance Minerals Limited (ASX code: RNS) completed the purchase of Newcrest’s 80% interest in the Yilgangi joint venture for $100,000 cash and a further $450,000 cash payable upon definition of total JORC resources of 0.25M oz gold. Renaissance has also granted Newcrest the option to claw‐back a 50% interest in the project if JORC resources of 1.5M oz gold are established at Yilgangi, with Newcrest retaining a 2.5% Net Smelter Royalty on Renaissance’s share of future production
Jindalee, which waived its pre‐emptive right to match Renaissance’s offer, retains its 20% participatory loan‐carried interest through to Decision to Mine, free of the claw‐back and royalty rights granted to Newcrest.

*Cardinia JV (Jindalee 11% free carried)*
Jindalee holds an 11% interest in a group of tenements at Cardinia, located 30 kilometres east of Leonora. The joint venture project forms part of Navigator Resources’ extensive Leonora Gold Project holdings. Jindalee’s interest in the Cardinia joint venture ground is free‐carried to completion of a Bankable Feasibility Study.

*Joyners (Jindalee 20% free carried)*
The Joyners project is a joint venture with Golden West Resources Limited and forms a part of Golden West’s much larger Wiluna West project. Golden West has earned an 80% interest in the joint venture tenements with Jindalee maintaining a 20% equity position, free‐carried through to completion of a Bankable Feasibility Study. The joint venture tenements contain indicated and inferred iron oxide resources (Joyners North) estimated to total 7.9 million tonnes at 62.2% iron.


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## springhill (16 November 2012)

Small volume share price spike from JRL today.

With this MC:Cash position could be one worth keeping an eye on short term. 

Pure speculation on my part from one that has been on one of my watch lists for a while.


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## Dona Ferentes (18 January 2021)

and, some eight years down the track.


> Jindalee Resources Limited (JRL) is involved in mineral exploration. The Group holds interests in tenements in the United States, Tasmania and Western Australia prospective for lithium, magnesite, gold, diamonds, nickel and iron ore, with most of these tenements wholly owned. The Group also has indirect interests in uranium, gold and base metals through various investee companies.



probably mines the punters, too?

latest kicker:
SHAREHOLDER UPDATE – *US LITHIUM ASSETS *

_ Initial assay results from McDermitt drilling expected late January  _
_Results from McDermitt metallurgical testwork due late January_
_ Jindalee exploring options for North American listing of lithium assets _






(DNH)
must be a wet dream for all these moribund outfits to dust off tenements


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## barney (18 January 2021)

Dona Ferentes said:


> and, some eight years down the track.  Probably mines the punters, too?



[/QUOTE]

Tightly held by the looks?

Riding the Lithium resurgence in a big way after years in the wilderness.

Is there possibly a "Tesla" US interest in the Stock?

Interesting, but not for me. I like Stocks under 10 cents


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## Dona Ferentes (1 February 2021)

having another go..... closed at $1.76 today

McDERMITT LITHIUM PROJECT – FIRST ASSAY RESULTS 


> Assay results from 10 of 15 drillholes received
> Substantial thicknesses of lithium mineralisation intersected in all holes
> Mineralisation intersected over 1km north of current Inferred Resource
> Remainder of drillhole results expected by mid-February 2021



Claim in the Update that McDermitt could, if proven up, supply all of USA Lithium needs. It is a sedimentary deposit (not brines, not spodumene) with cheaper extraction .... mine and crush.


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## Dona Ferentes (12 March 2021)

get in while they can ... now $1.52


> TH pending the release of an announcement regarding a capital raising.




*Activities*
Widgiemooltha WA - program to test gold targets approved; nickel program under consideration
McDermitt  USA - Updated resource in March; scoping study possible in Jun Q; Engaging with US partners and investors ongoing


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## Sean K (12 March 2021)

Dona Ferentes said:


> get in while they can ... now $1.52
> 
> 
> *Activities*
> ...



Capital raising.

How's their inferred deposit at McDermitt rate compared to peers?


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## greggles (9 April 2021)

kennas said:


> Capital raising.
> 
> How's their inferred deposit at McDermitt rate compared to peers?
> 
> View attachment 121203




JRL (as of yesterday) claims that it's now officially the largest lithium deposit in the USA.



> McDermitt now hosts a combined Indicated and Inferred Mineral Resource Inventory of 1.43 Billion tonnes at 1,320ppm Li for total of 10.1 Million tonnes Lithium Carbonate Equivalent (LCE) at 1,000 ppm Li COG, making it the largest lithium deposit in the United States by contained lithium in Mineral Resource, eclipsing Lithium Americas’ (TSX: LAC) Thacker Pass deposit (8.3Mt LCE at 2,000ppm Li COG)1.




More drilling coming soon:



> The 2021 drill program will be finalised based on the updated MRE with the aim to infill and further upgrade the Resource and to define the full extent of  the lithium mineralisation at McDermitt.




Share price currently hitting all time highs. Up 23.4% so far today.


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## Sean K (9 April 2021)

greggles said:


> JRL (as of yesterday) claims that it's now officially the largest lithium deposit in the USA.




And they've still got an exploration target to almost double it..... Just missed the boat.


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## Dona Ferentes (9 April 2021)

make that 80%


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## frugal.rock (17 September 2021)

Seemed like a buy the dip / oversold opportunity... so I did.
Lowest RSI for 3 months or more...
😬


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## Sean K (17 September 2021)

frugal.rock said:


> Seemed like a buy the dip / oversold opportunity... so I did.
> Lowest RSI for 3 months or more...
> 😬




That could be an excellent knife catch Mr Rock.


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## frugal.rock (17 September 2021)

kennas said:


> That could be an excellent knife catch Mr Rock.



It's lithium, not really a knife catch in my books, just a very nice dip, if I do say so myself !


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## greggles (17 March 2022)

The lithium mineralisation at the McDermitt Lithium Project just keeps on increasing. Assay results from diamond drilling carried out late last year were announced today and they look very, very good. More thick, high grade intercepts close to the surface.

At least 1.43 billion tonnes of lithium is an incredible amount of mineralisation.











The upcoming updated MRE (sceduld for early next quarter) should move a lot of the inferred resource to indicated, hopefully enabling JRL to release detailed production and financial metrics from the Scoping Study to the market which they have been unable to do due to regulatory constraints surrounding the reliance on Inferred Mineral Resource.

Given the current geopolitical situation and growing bipartisan political support for establishing domestic supply chains of critical minerals in the USA, I can't see any downsides to JRL at the moment.


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## frugal.rock (Tuesday at 10:17 PM)

Might be worth watching to ensure a bottom is in. It's a little illiquid to trade and took me a while to get out last time.


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