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CC: I agree it is good that the RNS involved some warm words from K.
And better obviously than if the RNS had said K were discontinuing the partnership/exploration etc.
But shareholders have nothing else but those warm words right now, as far as Disko goes, unless I have missed something?
You still have nothing to hang your hat on, as far as the vital question of cash runway goes.
None the wiser on the chopping and changing of various assets that are for sale, then some not seemingly for sale.
Why this strategy change etc? Basically, a lot of those sensible questions that Ashton posed recently.
And that is without even covering some of the other valid points, criticisms and observations of some of the 'bear' posters here, like enuff.
As to redknight1's post: Good question. One I have heard, and thought of myself, in many stocks, including this one, in relation to Dundas, a few years ago.
The answer is almost always the same and rather obvious, when you think about it.
Anyway, GLA. Bulls and bears.
Why don't Kobold just buy JAY...simples...
Chirpy. Here are 3 good reasons, there are more.
1. Why the need for the Cayman holding?
2. Spring 22. Drilling TNS. Followed by £5m raise. Followed by no drilling RNs
3. Selling huge amount of JAY shares last year. I didn’t see any notification?? Buying back in December for a fraction of the cost.
Do any of these meet your own definitions of underhand behavior? Yes or no
Yep, I thought K were out. Though let’s wait and see what terms they are in on before we get carried away. For example, do we have to extend control beyond December this year knowing we can’t afford to pay our pro rats share of any 2025 drilling?
11/02- you said that you didn't think for one moment that K would work with RM, and called him a Snake Oil Salesman
Strong words and I'm sure you had valid reason for those comments.
Do you not feel a bit comfortable that K will work with RM ?
With respect the market will respect their views more than yours.
Not so much Rach's though!
Poor for shareholders but clearly the original plan was to separate out Disko from JAY (hence the convoluted Cayman Islands structure which when I last looked listed Kurt, Rod and Eric) and presumably raise a huge amount on the back of Kobold involvement - not many ways to get a slice of that AI unicorn - but large shareholders said hold on a second! And Rod threw his toys out!
Somebody posted his email address on here; do they mind reposting it please.
See if we can get an answer to the original Dusko deal.
Enuff said it was poor , which is an understatement.
It is a poorly structured deal, which to be fair Rob Edwards alluded to a few times.
Without getting into controversy, here is what can be inferred from the latest RNS:
1- KOBOLD doesn't invest a penny and still benefits from what happens in Disko. It's still a cunning strategy, but in the end, at the level of JAY's management: it's rubbish. Kobold revealed itself to be a company with a low ethical level. He let an exploration window run out and saved 11.6 M$. The strategy is protected by contract clauses but nevertheless reveals a lack of interest and little confidence in field work.
2- as I said many months ago, in 2024 there will be no prospecting.
3- I'll say more: JAY, without clear evidence of having access to good mineral reserves, or only with a blind bet from a major company, is able to advance. The best bet is to end up being a royalty company.
4- most of the license assets do not have legs to walk. JAY doesn't have a geology department, it doesn't have financial resources and it has a rotten past thanks to the fraudsters who were part of its management. Its structure does not inspire confidence among investors. The solution: sell assets and keep part of the royalties in profits.
5- JAY is at a dead end. In April 2024, it will be left without a strategy or any possible alternative other than selling or entering into partnerships as a minority.
6- There is still a remote chance that, as a result of local prospecting by third parties, JAY's licenses will become valuable. But that will only be in 2025...2030...later.
At this point JAY went into hibernation mode. It became a walking portfolio courting the most important companies in the mining industry. Ashton in this aspect knows that there is nothing to happen in this board to talk now.
All is frozen. So I think we are done for the next…12 months…or 3-4 years. Anyway…good luck all.
Please come back.
I read every one of your posts.
Informed and objective.
Sorry Rach. Bored with you and much preferred Ashton.
Filtered.
RM leaving= Ashton leaving…?
I'm getting some mixed messages from this and interpret this as
1.' Following an intensive period of analysis and interpretation' - but the data was in around 18 months ago. 18 months , that hardly counts as intensive - unless of course the data was sat on for months (because Kobold have bigger fish to fry) and only looked at relatively recently.
2. Wasn't the similarity to Norolisk already known before Kobold came on board? Why infer that Kobolds AI involvement has led to that discovery / information? Same old bs - tarting up old facts as if they're new an exciting.
3. For 'To de-risk drilling' read; we plan to vastly reduce the planned drilling; Kobold has now returned us 2% of something which is at present of little known value. However, going forward we now need to match Kobolds spend pound for pound to establish what value might be there. We can't afford to do that so we might have to do a lot less drilling. Oh, and we'll still need a fund raise to pay for the reduced level of drilling.
4 For 'prior to the December 2023 board re-structuring' read - even before we sacked virtually all of our expert staff and re-appointed the 3 amigos Kobold had told Jay that it wouldn't be drilling in 2024, so there was obviously no need to be getting any drilling equipment on site during 2024. We've known that was the case for ages, certainly prior to December 2023, but thought we'd keep it quiet for as long as we could.
5. 'All Nikkeli licenses remain in good standing in 2024 without the need for additional expenditure, showcasing the project's stability and long-term viability' - read as; as we are not doing a thing to progress matters (or to actually demonstrate it's long term viability we will not be incurring any expenses. Not exactly rocket science that but as ever we'll put a positive spin on it and make it look appealing.
6. Eric says - sorry but I've got absolutely nothing new to tell you, you already knew these details but I'll gloss them up in our usual bs fashion to make it look like great news.
7. Kurt says - we're not wasting any more money on this project anytime soon. We are more than happy to give Jay back 2% of this, that way we immediately save ourselves $11.6m and going forward we only have to match any small amount that Jay might scrap together. In the meantime we'll stall for time - it really isn't a priority for us.
FFS, we need your thoughts !- although not necessarily on the last RNS which didn't tell us anything we didn't know.
Poui. I take it as encouraging that Kurt actually quoted. I really thought they had lost interest. But very light on detail for next stamps and crucially funding. Also, they knew they wouldn’t be drilling months ago, so why not state that at the time? Blind Freddie could see that wasn’t happening this year.
13:14
Don't forget Rod has a few millions paid shares, I don't think he'll want too much dilution.
It seems we have some disgruntled ex employee posting on this board. Excellent RNS this morning. Lots in it of genuine value. Kobold will get us there, the value will eventually come out. Time span ok with me.
In for the long haul...bought another 2.223 million...
Because options can, and do, expire worthless on a fairly regular basis.
Based on what I have seen over the years in plenty of stocks.
Companies can, and do, simply award a bunch of fresh ones periodically. No big deal. And often at ever lower strike prices, if indeed any strike price is attached at all.
If the BOD were only taking salaries in the form of options at elevated strike prices, your point would stand.
For the reasons I mention above, IMO therefore, it does not.
Anyway, good to see an update on Disko.
Not so good (but not a surprise either to many people) to see that drilling has been pushed into next year now, as KeithOz cites. You still long here, Keith?
Why would there be "another raise" if they have awarded themselves 41 million options at 14 times the current SP, only to see the potential gains on those diluted...?
I do believe Ashton will have is day, as will al LTSH’s, and remember past performance is not a prediction for future performance 😊
And oddly enough.....a tick up
So no real exploration (aka drilling) until 2025. I'm a little puzzled that further EM is to be performed - I recall what I presume to be the same prospects were delineated by EM about 5 years ago. At least KoBold are still involved, but no mention if they are actually going to revert to 49% as a result of missing the 2024 15-hole drilling target, or perhaps more importantly, who is paying what for any drilling in 2025. If JAY are now obligated to come up with 51% of the drilling costs, presumably there will need to be yet another raise at depressed prices, unless by some miracle there is an asset sale.
BHP takeover - how is that going to play out for Jay. Difficult to assess of course and only time will reveal all. If there was actually any ongoing discussions between Jay & AA they would now be put on hold. Can Jay survive until such time as any discussions do actually take place is another matter. They have lost their biggest institutional holder (who was so keen to sell out they dumped stock at 0.24p) and I'm not aware of any of the various gov.t departments or state funds increasing their holdings - despite the existing bargain basement share price. I just cannot see BHP / AA being interested in doing business with Jay (they will be aware of all of dubious facts that we do) unless Jay's patch can be shown to be a far superior asset than the patch that AA already possesses. Will Kobold / EnergyBreakthrough now proceed with any drilling or interaction with Jay now that they are to exploit hydrocarbons - I don't think they will.
CC – you say job done for me, yet I have never claimed to wish Ashton to stop posting. In fact only 2 days ago I said 'you should carry on promoting Jay'. I like to see both the bull & bear opinion in equal measure. However I can fully understand why Ashton may have decided to cease posting about Jay. Despite the many red flags waved by Jay (and it's various BODs) over the years he has steadfastly maintained that Jay would be a winner. He has been unfortunate enough to ignore all of those warning signs and chose instead to believe the repeated bs issued by RM and his cronies. Don't lose sight of the fact that pretty much the same bs was also being issued by all those other companies that RM was involved with and where LTHs also lost their money. It is all unravelling now and, as the last few days have shown, Ashton can not or will not offer either an opinion or an answer to counter all of the FACTS presented. The nag called Jay is way behind the other runners and there's less than a furlong to go. Leaving the site now would avoid the ignonimity of actually accepting that he has lost money and that his long held believe in RM and Jay was misplaced.
I wish him well in his future investment choices.