RE: Investing10 May 2024 19:11
Cheshire – as you have stated you, and pretty much most others, are looking to Dundas and Disko as being the saviours for Jay.
Dundas we were told around 6 years ago was a great source of high grade Ilmenite that could be scooped off the beach. Some was scooped off the beach and 42k tonnes of it were shipped to the Rio Tinto plant in Canada nearly 5 years ago. What has become of that? It looks like it was so good no further interest has been shown. Surely if it was as good as we were all led to believe Jay would have had no problems securing funds to construct the required infrastructure to mine and ship the stuff. They've got the required licences and jumped through all the hoops. Why hasn't such a plant been built? Then most of the existing BOD made the chump decision to use the wrong drill (LOL) and trashed the idea of Dundas being profitable all together. Well now its back on again but are they going to focus on building the required plant and processing the sands to make some money? No, they are going to explore the shelf underneath all of the sands. Sorry, but that and the fact that no commercial partner appeared after the initial 42k tonnes was processed and that Rio subsequently pulled out of another joint venture with Jay makes me highly suspicious of the worth of Dundas. Rio know what they are doing and have seen the product and worked with the company.
Disko. Now Disko could be a huge source of valuable minerals – but what are the chances of JAY prospering from it? AA has plenty of its own ground to concentrate on and may have far superior deposits than Jay. The drilling in 2025 will reveal more – if it happens and Kobold don't get sidetracked yet again. If Kobold really do think there is such a fantastic supply there why are they delaying? Why are they more than happy to loose the majority shareholding? Just to save $11.6m? It just doesn't ring true. Jay will need to raise more money to see it thought to 2025 and that doesn't include the extra money it now needs to find to pay for its share of the 2025 drill – more dilution beckons. What news between now and 2025 will cause Jay's share price to rise? Eric's chat was useless, news of re-instating Dundas didn't do it nor did the news that drilling was to go ahead in 2025. John Meyer's little piece was ineffective too and the BOD's greed at giving themselves millions of options at such low prices didn't help matters either. I see this flat lining or dropping between now and the drill results, which will be when? 2026? If you can foresee anything else suddenly appearing that may cause the price to rise I'd like to know what you think it may be.
Good luck with your investment – hopefully it'll be better than the winter barley crop for you.