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JRV - Jervois Global

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To me, It means things are moving along smoothly. Seems like they are double checking if all the Dots and Tees are properly applied. If it continues on this path, we will be moving from prospector to producer.
 
woltage said:
Anyone have any thoughts on the importance of this announcement

http://imagesignal.comsec.com.au/asxdata/20080924/pdf/00883195.pdf
Click to expand...

IMO this is a very importan box to be ticked...we are talking of foreign investment in Australia and this process is the stage where the govt looks at the money coming in (correct me if I am wrong)...if they are not happy with it they can cancel the application....also, the other significance of this step is that the 3 parties are all "serious" on this JV and they are working towards its final sing-off...this is no Guang Ye type of an investor who did nothing for months (6 or 7?) after signing the framework and then one day informed us that they are not interested...these guys are really interested...they have already paid us $1m (ok not a big sum, but a token is there on the table and in our kitty)....they have got to the FIRB approval stage now...also they have done some test drilling which had better grades than the average 0.72% Ni we had earlier...this is looking good to me and I am putting my money where my mouth is...fully loaded with JRV and waiting for "that" announcement which we are all looking out anxiously for...
 
September 24, 2008

Story that might make Jervois happy about its likely JV with the Chinese,

CHINA'S most senior trade negotiator, Long Yongtu, yesterday urged the Australian Government to speed up its approvals processes for Chinese foreign investment proposals.
Mr Long also urged Australian businesses to be more supportive of Chinese companies wanting to invest in Australia.
Chinese investment has emerged as a prickly issue for the Rudd Government, with Australian resource companies being targeted by cashed-up Chinese predators.
Treasurer Wayne Swan said in June that Chinese interests had submitted about $30 billion worth of proposals to the Foreign Investment Review Board since November.
Speaking at a business lunch in Queensland, Mr Long - China's chief GATT and World Trade Organisation negotiator - said he believed Chinese investment would "grow very strongly in the next few years" as Chinese companies became more familiar with foreign legal systems and processes.
He said that in Australia some approval processes were too long and gave "the impression that it was difficult".
Mr Long said he was "not making a criticism but just talking about normal practice".
 


Bohaty,

As you mentioned that the FIRB process is the spanner in the works kind of a process then this is definitely an excellent piece of announcement from JRV....they have that bit covered in their favour...looks like the market has positively accepted this last announcement and we touched 2.1c today....less than 5 weeks to go until 31st October (if the parties do not ask for an extension - not sure if there any clause for extension, need to read the first announcement again to confirm that)...
 
The FIRB approval announcement 2 days ago was the big announcement, share price had started moving up a week or so before as it always does when insiders buy.

Then it hit 2.4c today, up 25%. Now just had a poorly worded announcement that is good news but the way its worded it reads as if its bad news at the beginning, which dropped it back to 2.1c.

They state that the extraction process has previously proven to be more complicated than thought, but it reads like they are just finding out now its more difficult than they thought, but they are actually saying it has been difficult up to now (which everyone knows!!), but with recent testing we think the end is in sight.

Thats 2 very good bits of news - The FIRB approval for the Chinese JV and the extraction process hopefully in the home straight. Now just need someone with English skills to write the announcements!
 
I agree the progress report today is very positive but reads badly. I had to read it a couple of times to be sure of what they were saying. Hopefully as people digest the good news the price will come back up. I bought the other day at $0.016 so I am reasonably happy.
 

Pingu,

Did you see the grades too in the last announcement? I have been following JRV for the last 15-18 months nad these grades in the last two announcements have been pretty healthy compared to what we have seen previously...I am excited with the progress so far in this JV process...31st Oct is just a few weeks away...
 
I am intrigued with Norman Seckhold's interest. He seems to be an expert in heap leach processes. Normally he runs the company (for eg BSG). He didn't stay on the board at Palmajero/Couer after the merger so what will his involvement be if Duncan Pursell is in charge? Have they worked together before?
 

Norm Seckhold is in no way a part of the management of JRV IMO...he is just a Top 20 holder and he holds around 5% + of the issues shares (127 million if I remember correctly)...so this JV should not affect his decision on the board as he is not a part of the board...he can sell out if he is not happy with the JV terms / outcome...that would be his personal decision...

the fact that he hasn't sold a single share so far brings confidence to the share holders...
 
Thanks for the reply. I agree. I am staying put as well. When you have highly regarded people with an in depth knowledge of mining investing in the company it's a good sign.
 
Its only a matter of time for Jervois....

Mine passes another hurdle
CAMPBELL WALKER
28/09/2008 4:43:00 PM
The proposed Chinese and Australian joint venture project to mine nickel and cobalt near Young cleared a hurdle this week with the announcement of approval from the Foreign Investment Review Board.
Melbourne based mining company Jervois has already signed a heads of agreement with China Railways Group and Ynnan Jiaming Technology and Industry Company in June to advance a joint project.
A formal agreement due to be signed before the end of next month.
The proposed mine has been hailed as a project that would significantly boost the town’s economy and provide new job opportunities both in the short and long term.
An initial injection of $45 million is required to build a pilot plant expected to produce 300 tonnes of nickel.
Jervois has exploration leases on 265 kilometres of farming land near Young, over what is considered to be one of the nation’s biggest untapped nickel deposits.
A public statement released yesterday said that Jervois had been given approval by the Foreign Investment Review Board for the operation of the Young nickel laterite resource at Young.
“Jervois signed the frame agreement in June between China Railways Resource Development Branch and the Yunnan Jiaming Techology and Industry Company to form a JV company to develop the nickel and cobalt project.
“Jervois will supply the tenements, Chian Railways will fund the project and Jiaming will use its patented and non patented nickel and cobalt recovery technology at no cost.”
Last month Jervois signed a lease for an office and houses in Young for use by the participants.
The announcement could not be confirmed by the Foreign Investment Review Board or the Federal Treasury office, which treat all applications as commercial in confidence matters.
Among other hurdles facing the project promoters are the requirements for a development application and access to water is also an issue.
 

Looks encouraging and your link reports:

A proposed $700 million nickel and cobalt mine near Young has moved a step closer, with approval of the proposed joint operation.

The Melbourne-based company Jervois Mining is in partnership with two Chinese companies to build and operate the mine.

It has received $1 million from its partners to start developing the site.

Earlier this year, the three signed a frame agreement to develop the project and the Foreign Investment Review Board has now approved the joint operation.

Jervois Mining has also signed a lease for an office and houses in Young.

Once operational the mine is expected to create hundreds of new jobs.
 
October 31st is near, has the world financial crisis undermined the JV....
We will soon find out if JRV goes to 15 cents or below 1 cent.
 
I would guess that the Chinese will wait until the last day before making any announcement to give them as much time as possible to see what is happening in the world. Nickel prices are down at the moment to around $10600 USD/MT so that may influence their decision.

Note: I am long JRV and hope the Chinese sill come to the party, but are starting to question whether they will.
 
The Chinese government is willing to keep the economy moving forword with the added review of fiscal and monetary policies over the weekend. All attemps of keeping the dragon alive and the preventing a world Depression may depend on the fastest growing economies, China and India. I don't think anyone can stop the flow of the urbanisation of both of these countries. Slowing it down may start anarchy and revolt. They know that suppression is not the answer and growth with some boundaries will propell their people into the 21st Century. The rise in nickle prices on friday (10k) should help but I would prefer to see it above US$15000/T.
 
It looks like there has been some bad news released for JRV today regarding the framework agreement.

No agreement was able to be reached before the deadline, and arrangements concerning the Young Nickel project may terminate. The full announcement is on the ASX website.
 

It does say 'MAY terminate', not has terminated. Further announcement expected to confirm another JV passing?
 
The agreement "May Be terminated". Please a little clarity..
Are the directors preparing us for a big let down or tring to invoke the other parties???
 

Please a little clarity? I'm not sure, but I think I did type 'may' terminate didn't I? Looking back, yes I did.

That struck me also that they haven't come out and said it will terminate, but whether that is an attempt to soften the blow, or that there will genuinely be further discussions etc remains to be seen I guess. In any event, this announcement isn't good news is it?
 
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