JRV - Jervois Global

[greggy]

In this sorry saga, INL have come out of it with a pretty handy profit. As for JRV the board may now want to have deeper discussions with the Chinese in order to get moving on the nickel project. With the nickel price so high at present JRV may not get a better opportunity. Throughout this saga, I found the whole drama very interesting indeed sitting on the sidelines. As for the share price, it has also improved considerably.
DYOR

 

[juddy]

I dont have a problem with JRV.
I just have a problem with INL.

... and so do INLs shareholders...
INLs shareprice is not looking too healthy.

You are far too emotionally attached to this saga pop-moo. It is evident on all websites you post on. Yes, you hate INL and its shareholders. Get over it.

 

[greggy]

I feel its better to leave the emotion out of investment decisions as it can adversely affect one's judgement and focus. I learnt the hard way in the early days of my trading career (c1979).

 

[Atomic5]

Knowledge does not = wisdom.


Yep, it was quite bizarre. If INL wanted to deal with a business of mine, I'd want to tell them to F**K OFF! as well. By the sounds of it, they are like one of those women, that if they can't have what they want, will destroy everything around it. Bad news this company. What a disgraceful attitude. Who do they think they are talking to? 16 year olds?

I mean christ, grow up ffs. Sour grapes anyone?

It appears from the partial and sudden sell off that INL were not quite expecting a complete rebuttal from JRV, OR otherwise had sense enough to not try and attempt another sell-off before the announcement as they had done before the meeting some weeks ago, as the sale of appox. 110million shares (not 120m) would have attracted ASX / ASIC attention this time I imagine.

 

[hangseng]

This needs repeating: because JRV disagree with INLs process which sees the addition of sulphur to the chloride leaching process. JRV are interested in the process initiated by Jaguar but DO NOT LIKE how INL have progressed it and prefer a patented method known as the Aspen method which they may trial in a pilot plant this year.

Why would INL keep shares in a company that might prove them wrong using an INL competitor's patent???? Plus, INL sound vindictive.

Pursell at least had the decency to warn his shareholders on Wednesday before INL posted their notice on Thursday - NOT that anyone listens to Pursell (his lips move but no-one listens) as on Thursday morning the die-hard INL fans were still buying JRV at .034, only to see an intraday of .026, and a two day low of .023.

If anything, the only thing evident so far is how stubborn INL 'supporters' (fans?) are in admitting that JRV don't favour the INL process and are happy to seek alternatives with INL competitors.

"patented method known as the Aspen method which they may trial"

I am now firmly of the opinion that this trial will take place and be fully funded by the Chinese with CSIRO involvment. The Chinese are visting again March/April for exactly this purpose to view the JRV labaratory trila in practice. JRV know what they have and made an (excellent and clear) executive decision accordingly.

The arrogance demonstrated in the INL report today did INL nor their shareholders any favours at all. Very poor show indeed, taking my bat and ball home stuff.

I would like to know when INL commenced the selling of the shares in relation to the news getting to market. Selling prior to the public announcement could be viewed as none other than insider trading IMO. I am sure others would have liked an opportunity to make an assessment on whether to sell or hold on the back of the news rather than what occurred. Then publicly bragging of the sale and consequent "free hold" of JRV shares is flying in the face of people who may have lost over this and quite frankly is offensive.

Thumbs down to INL over todays announcement.

 

[greggy]

If and when the Chinese come again, it will be interesting to see what eventuates from here. With such a large nickel resource, it would be a pity for all concerned if it remains underground.
DYOR

 

[Col Lector]

Methinks this below (JRV ASX announcement March 21) is an excessively (even dangerously) optimistic statement for a responsible director to make.....
Pursell would find very few that would agree that Nickel will exceed $50K USD in the Medium term. Especially given that it will be at least 3 years before JRV nickel reaches market. By that time expect metal from Goro, Ravensthorpe & Lionore (African Activox) ....amongst others.... to fill the supply deficit.

Jervois’ Managing Director, Mr Duncan Pursell said, “The demand for nickel continues to soar, with
record prices recently surpassing $50,000 per tonne as low stocks and supply side constraints kick
in.
“Given the state of the market, buoyant nickel prices well above $50,000 per tonne are forecast for
the medium term. The Board is now considering a number of processing routes for the ore at
Young in light of the positive market dynamics going forward”.


Not surprising INL found negotiations difficult in light of this "pie in the sky" attitude of Pursell

 

[Col Lector]

I would like to know when INL commenced the selling of the shares in relation to the news getting to market. Selling prior to the public announcement could be viewed as none other than insider trading IMO. I am sure others would have liked an opportunity to make an assessment on whether to sell or hold on the back of the news rather than what occurred. Then publicly bragging of the sale and consequent "free hold" of JRV shares is flying in the face of people who may have lost over this and quite frankly is offensive.

Thumbs down to INL over todays announcement.

Hey Hangseng, While you are looking at "Insider-trading" indiscretions.....how do you catergorise Pursell's sale of 6.3 million shares at an average 3.45cents on March 8???? At this point people were still buying into JRV...the outcome of discussions was stated to be at least a couple of weeeks away.
Couldnt be that Pursell had already decided to reject INL's advances, and the delay in final discussions was a ploy to distance himself from this selling???

 

[greggy]

Hey Hangseng, While you are looking at "Insider-trading" indiscretions.....how do you catergorise Pursell's sale of 6.3 million shares at an average 3.45cents on March 8???? At this point people were still buying into JRV...the outcome of discussions was stated to be at least a couple of weeeks away.
Couldnt be that Pursell had already decided to reject INL's advances, and the delay in final discussions was a ploy to distance himself from this selling???

Hi Col Lector,

You have a very good point there. Pursell's sale of 6.3 million says a lot of what he thinks of the company, a negative sign indeed. The timing was also poor indeed. As for people buying in at around the same time, investing in specs is very risky indeed. People make their own choices. I chose not to buy JRV or INL for that matter.
DYOR

 

[Col Lector]

gidday greggy, Definitely not transparent behaviour....particularly knowing that the interest in JRV was going to continue right up to the outcome of discussions were announced.
Re specs....but arent all shares "specs" to some degree??eg, even with BHP you are speculating what the state of the various commodities are in x years time??

 

[greggy]

gidday greggy, Definitely not transparent behaviour....particularly knowing that the interest in JRV was going to continue right up to the outcome of discussions were announced.
Re specs....but arent all shares "specs" to some degree??eg, even with BHP you are speculating what the state of the various commodities are in x years time??

I've invested in blue chips from time to time, but enjoy playing the specs more so. I understand where you're coming from but feel that you can't put the likes of BHP etc in the same boat as JRV and other specs. Good blue chips generally have good long term records, have earnings and pay dividends.
DYOR

 

[Col Lector]

Take the point. I do think that companies such as JRV particularly deserve the spec term in that you have to speculate how much of the information put out there is reliable. I have been to date targetting small producers (Ni,Zn mainly) that are expanding production. Effectively a speculation on both the commodity price and the management capability. INL fits this profile.

 

[hangseng]

Hey Hangseng, While you are looking at "Insider-trading" indiscretions.....how do you catergorise Pursell's sale of 6.3 million shares at an average 3.45cents on March 8???? At this point people were still buying into JRV...the outcome of discussions was stated to be at least a couple of weeeks away.
Couldnt be that Pursell had already decided to reject INL's advances, and the delay in final discussions was a ploy to distance himself from this selling???

From what you have highlighted I would agree with you. I hadn't researched all of the goings on on either INL or JRV, I just noticed todays anouncement sticking in the face of people. Poor taste IMO.

I bought in on Friday on the low and sold out today at .027. Far too volatile for my liking at present.

 

[kransky]

Hey Hangseng, While you are looking at "Insider-trading" indiscretions.....how do you catergorise Pursell's sale of 6.3 million shares at an average 3.45cents on March 8???? At this point people were still buying into JRV...the outcome of discussions was stated to be at least a couple of weeeks away.
Couldnt be that Pursell had already decided to reject INL's advances, and the delay in final discussions was a ploy to distance himself from this selling???

Very good point!

I sold my JRV shares after the negative announcement INL made about the meeting they had and the fact that they had sold part of their stake.

Ah the potential was there for a great partnership.. but some of the longer followers of JRV had warned us about the directors and this turned out to be true imo..

I'd love to see a hostile takeover in a few months time if the SP goes under 1c...



sorry to all holders..

 

[explod]

Must be due for an update on the uranium lease prospects soon. With the ALP mellowing towards this issue we should expect an uptick on this front if the vague promises have any substance. Just opening the day in a wondering mood and off to the casino for a few days working the trends on roulette. Works better than the market sometimes

 

[Atomic5]

Pursell was recently quite good with his recent announcement timing which showed some shareholder sensitivity:

Announcements due soon we hope:

- Uranium Update: JV with New Age - license and exploration (which was put on hold)

- Developments with the Chinese MOU - Chinese visit

- Plans for the pilot plant / Nickel processing for revenue generation

 

[Atomic5]

Very good point!

I sold my JRV shares after the negative announcement INL made about the meeting they had and the fact that they had sold part of their stake.

Ah the potential was there for a great partnership.. but some of the longer followers of JRV had warned us about the directors and this turned out to be true imo..

I'd love to see a hostile takeover in a few months time if the SP goes under 1c...



sorry to all holders..

And will INL have to seek 90% approval from shareholders again? Seeing as they had the market on their side this time, to the point where INL even used it to cover up their sell/dump, then why didn't they in effect perform the takeover? They only had another 5% of shares to acquire?

INL refer to themselves as almost making stupid moves: they may have been in full knowledge as to how unnacceptable their offers really were, so much so as to not even put it to JRV shareholders who were mostly on their side. As it is we dont know the details of it and probably won't.

Laterite processing is the next phase for Nickel. The remaining Nickel resources are in this form. If the world wants Nickel for the next 10 years, it has to mine laterites. The Young resource cant be that unique.

Chip Goodyear from BHP this morning said that metal prices will likely remain high from the next 10 years due to the forseeable demand.

Sooner or later something has to happen for this laterite deposit.

 

[Sodapop]

Laterite deposits can be a nightmare for so many reasons (the processing methods for laterite ores from one depsit can vary phenomenally between different parts of the weathering horizon) - and Young is in the scheme of things very low grade... There are many undeveloped laterite resources that would be way ahead in the line to get developed in terms of grade... Unfortunately Young is in the sub-tropical zone (which means that the chemical and temperature weathering has been weak - thus leading to a lower Ni grade)... Were this deposit in QLD we would be talking about an entirely different situation...

There`s a decent study on laterite processing on-line somewhere (i will try to find it and post the link)... Might make some sobering/interseting reading (for some)...

 

[Atomic5]

Pursell is at the mine in Young at the moment and not in Melbourne.

It is debatable as to whether he would inform the market that the Chinese were in town, however he was definitely preparing for it with the evaluation survey for Young he commissioned weeks ago, and the leaching trials to be done within a month (which is said to have been done by the CSIRO - though Pursell does not appear to have said it, and only annouced the evaluation survey retrospectively).

As for laterites - it's the only type of unmined Ni left, as the other traditional sources are running out. Canada and China already process laterites and it is a billion industry. (I've read heaps SodaPop - and Im not even interested in mining).

Apparently Young is well positioned transport wise and the resource total is huge. We already know that it is comparitively low grade. About 1/2 the strength of Noumean deposits which hold some 22% of the worlds Nickel. Australia holds slightly less - only some 20%

Were this in Queensland you would probably be dodging cyclones in the wet season.

At this point I'm glad JRV decided not to share his 'fortune cookie $' with INL -

INL wanted to make a profit out of JRV in one way or another which is probably why they are also keeping 8% of the shares (after pumping and dumping the share) - and without having to reveal their offer to JRV shareholders whose approval they needed - meaning also that Pursell gets the blame for the shareprice drop, with INL denying that they were responsible for it by dumping stock to the press.

It has taken 5 years to get to the point where we are almost at a breakthrough with the technology. Pursell purchased Young when Laterites were very bad news in Australian mining: now they are the future of Nickel mining. He stands to make a fortune and good luck to him.

Day traders don't like Pursell: so what.

 

[greggy]

Pursell is at the mine in Young at the moment and not in Melbourne.

It is debatable as to whether he would inform the market that the Chinese were in town, however he was definitely preparing for it with the evaluation survey for Young he commissioned weeks ago, and the leaching trials to be done within a month (which is said to have been done by the CSIRO - though Pursell does not appear to have said it, and only annouced the evaluation survey retrospectively).

As for laterites - it's the only type of unmined Ni left, as the other traditional sources are running out. Canada and China already process laterites and it is a billion industry. (I've read heaps SodaPop - and Im not even interested in mining).

Apparently Young is well positioned transport wise and the resource total is huge. We already know that it is comparitively low grade. About 1/2 the strength of Noumean deposits which hold some 22% of the worlds Nickel. Australia holds slightly less - only some 20%

Were this in Queensland you would probably be dodging cyclones in the wet season.

At this point I'm glad JRV decided not to share his 'fortune cookie $' with INL -

INL wanted to make a profit out of JRV in one way or another which is probably why they are also keeping 8% of the shares (after pumping and dumping the share) - and without having to reveal their offer to JRV shareholders whose approval they needed - meaning also that Pursell gets the blame for the shareprice drop, with INL denying that they were responsible for it by dumping stock to the press.

It has taken 5 years to get to the point where we are almost at a breakthrough with the technology. Pursell purchased Young when Laterites were very bad news in Australian mining: now they are the future of Nickel mining. He stands to make a fortune and good luck to him.

Day traders don't like Pursell: so what.

Hi Atomic5,

Pursell hasn't exactly got the best track record in relation to JRV. His recent sale of 6.3 million shares in JRV speaks volumes of what he really thinks about the company. To have sold that many is definitely a negative sign. Your last comment indicates that you've been caught up in the emotion of it all as other ASF members have indicated. The Young Nickel Project has heaps of potential, but maybe JRV need new management in order to move the company forward.
DYOR