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BKT - Black Rock Mining

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Re: GRK - Green Rock Energy

In a Trading Halt. Could be that they are to announce a JV partner to drill in the North Perth Basin or to drill the University project. Or could be some news towards power generation in Hungary. Not likely to be news of SA as GRK appear to be in a wait and see wrt other interests in SA (I assume GDY outcomes).
With the tragic events of Japan and the uncertainty of nuclear power being a future ongoing option it is time for alternative energy companies to prove viable options. Lets hope that these companies will find it, and if any carbon tax is ever imposed (rightly or wrongly) then I hope those funds are directed to help explore and prove these alternatives.
 
Re: GRK - Green Rock Energy

I have been looking back through company announcements and I cant seem to find a reason why the share prices has been in constant decline?

Very new so I probably missed something obvious. Can someone point me in the right direction?
 
On March 30th, 2015, Green Rock Energy Limited (GRK) changed its name and ASX code to Black Rock Mining Limited (BKT).
 
Black Rock Mining is looking like it may have bottomed out at 3c. The share price and volume have both been increasing over the last few days and today it finished the day at 4c, up 11.1% on yesterday's close.

For those interested in BKT's operations, have a look at this article from Mining Journal: https://www.mining-journal.com/reso.../mahenge-the-cinderella-of-the-graphite-space

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Higher highs and higher lows for BKT in the last few days.

Rather than speculate about the reasons, given there has been no price sensitive news since 7 January, I'll reproduce the company's response to the ASX Price and Volume query which was announced yesterday:

Other potential reasons for the recent price movement in the company’s securities and recent trading include:

i. Orior Capital Company Commissioned Research Report – on Friday 19 January 2019, the Company released a paid for report prepared by Orior Capital via email and via its website www.blackrockmining.com.au

The email covering note confirmed that the report was commissioned by the Company and “was part of our financing strategy and post the release of our stunning Definitive Feasibility Study, Orior Capital was commissioned by Black Rock Mining to undertake a review of the business and graphite sector.”

For further information please refer to the Orior Capital report on Black Rock Mining’s website.

ii. Offtake Agreements – on 7 January 2019, the Company announced it had secured a third binding offtake agreement. The Combined tonnage of all three offtake agreements is up to 205k tonnes per annum of product by year three as outlined in the table below:

screenshot-stocknessmonster.com-2019.01.22-12-25-52.png


iii. Mining Licence – The Company was granted its Environmental Approvals by way of a positive Environmental Impact Assessment (EIA) for the development of its Mahenge Graphite Project as announced to the ASX on 5 September 2018. As part of the EIA announcement Black Rock confirmed that post Definitive Feasibility Study (DFS) completion, the Company would lodge a Mining Licence application. The Mining Licence applications were lodged 9 November 2018, through the Tanzanian Mining Cadestre Portal HTTPS:/Portal.Madini.go.tz. The licence status was upgraded from submitted to recommended on 10 January 2019.

The Company notes that post the announcement of the Tanzanian Mining Code update to the mining regulations during 2017/2018, the Tanzanian authorities have commenced routine processing and approval of new and renewal of mining licences including those submitted by Australian mining companies. The Company understands there are meetings scheduled this week in Tanzania where new mining licences may be issued, which may or may not include Black Rock’s application.
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greggles said:
Higher highs and higher lows for BKT in the last few days.

Rather than speculate about the reasons, given there has been no price sensitive news since 7 January, I'll reproduce the company's response to the ASX Price and Volume query which was announced yesterday:



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Hi Greggles
The stock is apparently a buy by some brokers even if it has shot up recently. Their chart shows bullish (BS ?? :) ) .
The broker said
"BKT $0.06. Up 9%. A Bullish Pole and Pennant Formation."
what does your chart read ?
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took a while to get the story ready for the market. And clearly some at open thought it was worth a lot more than actually involved. Opened at 8c but fell back:

Black Rock has entered into a Strategic Alliance & Development Memorandum of Understanding with the POSCO Group for the development of the Mahenge Graphite Project;
• POSCO is one of the world’s largest producers of anode feedstock and a major participant in the global LiB (Lithium ion Battery) industry;
• Key terms of the Strategic Alliance & Development MOU include:
(i) Completion of a Due Diligence period of up to 90 days to support the negotiation and entry into a two-phase binding Investment Agreement;
(ii) Phase 1 – POSCO is to subscribe up to US$10m for either shares and/or convertible notes in Black Rock, with the funds to be applied to works including: (a) an early works program, including completion of all engineering and design; and (b) provision of all-weather site access;
(iii) Phase 2 – POSCO may make a second investment of an amount yet to be determined, with funds to be applied to works including project construction ....


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The confident break above 19c looks bullish for BKT. No announcement driving today's price action. Leaky ship? Time will tell.

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Barry FitzGerald - Garimpeiro ; 12 stocks in 12 different commodities to stuff in the Xmas stocking ... The focus has been finding those with leverage to exploration success and/or enhanced development prospects because of some of spectacular commodity price gains in 2021, and what 2022 [may have] in store.

GRAPHITE : Trading at 20.5c for a market cap of $177m. Elon Musk has been fretting about graphite supplies for the anode side of batteries. He should give Black Rock a call.
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It has been methodical about bringing its Mahenge project in Tanzania into production. It’s capable of meeting 5% of global demand for an initial 26 years. The government is now on board with a free-carried 16%, removing previous uncertainty on the issue to make project financing all the easier to arrange.
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I have chosen BKT in the June comp, for no other reason than I have already taken a hiding on it in the past and I want revenge.
Mick
 
For the record, I was planning on putting this into the monthly comp for March, but ended up going with AXE as I hold it.
See how it goes eh?
Not held.

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