Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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As Ailean has said new O&G exploration in Greenland has been banned, the chances of Bluejay or White Flame (or anyone else) successfully exploiting O&G in Greenland is virtually zero. There's no way RM and his shameful posse don't already realise that but they are attempting a ramp of Bluejay regardless. Trying to squeeze every last cent out before it all implodes. Plenty of companies with deep pockets have been there before and walked away - eg, between 2010 - 2014 Cairn spent around $1bn and others have also tried their hand already.
I would suggest that RM and his crew will not succeed in the short time they have until their licence runs out in 2027 - other far better funded, staffed and experienced co.s have failed in the past even when the appetite in Denmark was open to O&G exploitation. Only mug private investors are ever going to fund such a farce, any one with even the merest knowledge of the situation will not want to partner or fund Bluejay on it's newly chosen path. Might, as ever, be money to be made on trading the spikes but long term this is going to zero.
Good read here -
https://tinyurl.com/mt4zxrjy
Greenland passed legislation in 2021 banning any new hydrocarbon exploration licences. With Greenland Oil & Gas A/S licences expiring in 2027, its last chance saloon for RM/ES/MH to squeeze some $$$$ out of these licences for themselves.
Luckily, nobody seems to be buying it. Some fairly big sells printing though.
Good work Aileen. Little Bo Peep also a shareholder if you flick through their last accounts (from 2022).
RM and JAY chairman Micheal Hutchinson are directors of White Flame Energy Ltd (Companies House records show was it was until recently named Greenland Gas and Oil Ltd). Who is the COO - no other than ES! White Flame Energy Ltd has a subsidiary in Denmark/Greenland called Greenland Gas & Oil A/S (RM and ES are directors). Greenland Gas & Oil A/S has been around a while. They have active onshore hydrocarbon exploration licences on the east coast of Greenland. MLSA website shows that these were granted back in 2014. Licences due to expire in 2027 and looks like the company has never done any work on the licences? Seems they are busy rolling one of their sh*tshow companies into another, so EM/ES/MH can cash in on Greenland Gas & Oil A/S before those licences expire.
Who is their neighbour on the Greenland east coast? "Skyfire Ltd", 100% owner subsidiary of TSXV listed, Pulsar Helium Inc. Starts to make sense why JAY are also referring to helium in today's RNS.
Open your eyes... this is just another scheme to milk JAY shareholders by monetising one of their failing private companies.
Ben. Exactly that. Devious ploy to ruin company turns into world class hydrocarbon giant. I have my doubts..
Next is the post-coital RNS. "Thanks for the money!"
@ enuffRMbs - Sounds like a parody of 'The Producers' by Mel Brooks. lol.
EnuffRMbs - LOL, cunning plan. You might be right; RM isn't going to be worried about tarnishing his career any more than it already is ;-)
RachT. Maybe they are not so daft. Perhaps this is a cunning plan to flush out Kobald by masquerading as a hydrocarbon explorer. Brilliant. We get the 49% back. Rods a genius!!!
Dundas is now battery metals, which is more good news! They can’t even be bothered to check the guff they put in their RNS.
With the new board and management team fully incentivised to create value, this new strategy will complement our existing portfolio of battery metal projects namely Disko-Nuussuaq, Dundas, and Hammaslahti.
Oh, and how about the relationship with Kobold, which I reckon is going to be terminated anytime soon. The news today more or less confirms it in my opinion. BreakthroughEnergy was established with the sole intention of helping to drive the planet away from fossil fuels - working with a co. that is proposing to develop fossil fuel production in a such a clean and unspoilt territory like Greenland simply does not match their agenda. Goodbye Kobold, and goodbye Bill & Jeff of course :-)
Just when I thought it couldn’t get more ridiculous!
Having lost a few quid here over the years, I have adopted a new philosophy. I am trying to view my investment in JAY like someone who put up a load of money for a Broadway or West End musical which never really took off, but at least I have a front row seat and can luxuriate in the knowledge that I have helped finance one of the most spectacularly comical circus shows that has ever graced AIM. You should all be grateful. We have financed something special.
Regarding the termination of the vice president's employment due to gross misconduct, it's noted that he was attempting to establish a company in Greenland. This action suggests some prior knowledge. It's worth mentioning that he did not appeal the dismissal decision. Additionally, amidst concerns about financial losses, diversifying one's investment portfolio might be a prudent approach, given the volatility of the stock market.
Anything this sh*t sounding simply has to 100x bag, right?
They need to get involved with helium so they can inflate their egos, and salaries, and of course the balloons to keep this whole s*** show on the road
In six months time it'll be mud - drilling for mud.
Ya gorra lol I suppose :)
Dear oh dear - are they scrapping the barrel or what? This really does look like an act of desperation - none of their schemes have / are working so what pretence can they cook up to persuade suckers to invest? You can imagine RM's chat with the depleted BOD and now miniscule team of experts. We desperately need money and the news of rekindling Dundas hasn't shifted the sp - what else can we do. I know, helium and hydrocarbons, that should sucker a few more punters into investing. They're hoping investors will ignore the fact that they haven't really got enough money to progress their other plans so will need masses more money to explore, licence and progress these new options.
Well my £1800 invested here is currently worth 70 quid. So why not look for gold or oil as well, also nickel, coal, uranium and diamonds. There must be something in those rocks !
Have they found substantial gas deposits?
A cynic might conclude they are looking for fresh retail money to pump the SP up, with this new/additional resource hunt.
Looking forward to Ashton's take on this...somewhat unexpected news.
Like the other poster said, do they have anyone in the team with relevant skills and knowledge in that space, or will it require additional headcount (costs) and another raise perhaps?
How are those non-Disko asset sales going? How long is the cash runway going to last? Not mentioning Disko, because I appreciate that it is currently out of JAY's hands to update on this right now - but the other questions are not.
Goodness me :)
Probably because of the gas blowout they encountered from the disko drill blowout that rod posted on linked in, I commented at the time make sure to look for helium!! Still leaves many many questions but.......
HAVE THEY COMPLETELY LOST THE PLOT.?.??!!!
Really? Is there anybody - anybody at all - within the Bluejay team who has any knowledge whatsoever of exploration for gas of any type?