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LWHL - Ref your question to me, "Fair enough, but what are your thoughts on the lack of news on the sale of all the other assets? Been some time now, surely?", IvRoche has responded with a reference to an interview with Rod McIllree. I presume you have not seen the interview since the answer to your question actually lies in that interview. That is, RM was expecting the Finnish assets to be sold (hopefully) by mid-summer 2024. Forward wind the video to 16:00 mins - https://tinyurl.com/yc8xfhf9
Apart from the Finnish assets, I am not overlooking the sale of the Thunderstone asset. There is the danger that too much pessimism can blind people to overlook the potentials of JAY. Please see my next post.
Lol...Jeez LWHL - it's pretty safe to say none of us are satisfied but no point selling.
Fair point on cash runaway, but based on last cap raise and sacking a tonne of people - safe to say we have about 9-12mths runway.
Have a good Easter.
Fair enough, although I still think the lack of detail concerning the cash runway at the very least, is not particularly shareholder-friendly. No updates on salary reductions etc, unless I missed it.
Ah well. If you guys are satisfied, then all good. Have a good Easter all.
LWHL: re: sale of assets RMc stated himself in the interview that he did not expect a quick process and would likely take many months to complete. Expectation of any news re: sales is likely from June onwards not before.
Ashton: All fair points, I largely was aware of already, however while they can announce whenever suits them but still have to give 1 months notice to the Greenland BMP - I think it would be a big mistake taking a risk on leaving exploration drilling late as they run the risk re: bad / lack of day light limiting operations. The expression make hay when the sun shines springs to mind.
Greenland BMP Link Below:
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://govmin.gl/wp-content/uploads/2019/09/Rules_for_Fieldwork_and_Reporting_regarding_Mineral_Resources.pdf&ved=2ahUKEwid5M_A35eFAxVRQUEAHQ6fAWYQFnoECBQQAQ&usg=AOvVaw2Dk3ImEa6TLqaesuMtlxu9
Daily Satellite Imager - Sea Ice Conditions:
https://zoom.earth/maps/satellite-hd/#view=69.67391,-53.41699,8.06z/date=2024-03-25,pm
Take a look at the note I posted on 6 Feb 2024 at 13:53 where I commented on asset sales. I suggested a buyer for the Finnish assets could come from farther afield. These things can take time but please do your own research. I am in no hurry.
Fair enough, but what are your thoughts on the lack of news on the sale of all the other assets? Been some time now, surely?...
Sometimes, a pessimist is an optimists' realist....
On 31 Jan 2024, I posted a note under this thread and said I was happy to wait patiently for the following two key events to play out and then take stock again:
1. Announcement before the end of March 2024 of a fieldwork program including a drilling campaign this summer. I based my expectation purely on the fact the 2022 fieldwork program was announced on 24 March of that year (with hindsight it was wrong to have placed too much reliance on the past timetable).
2. Announcement before the end of 2024 of the assay results following the drilling campaign.
Moreover, I gave an undertaking to return to the post before the end of this month and then again before the end of 2024. So, here I am as promised after the market closed on the last trading day of March (IvRoche - You can now see why I could not post this note any sooner and that I wasn't being cryptic in my earlier post for the sake of it.).
I attended the General Meeting in London on 5 February 2024 and posted a note on the same day. I also posted a note a few weeks ago on March 13th. Based on my research, I intimated in the two notes that it was unlikely we would have the Disko update in March. I am therefore not surprised at all that there has been no update this month.
I continually review my views in light of my ongoing research findings on JAY. Consequently, I have changed my view that the Disko 2024 fieldwork program update is now likely to come next month (April) - if not, then sometime in May (Yes, I repeat, it could even be May). The Disko 2022 fieldwork started in May and ended in September. So even if the JV decides to carry out the 2024 drilling activities as late as August/September that would give the JV some four/five months to complete the plan for the fieldwork program and get everything ready for the groundwork. I was told at the General Meeting that drilling rigs were already in place in Greenland and could therefore be moved to the drilling locations swiftly. I suppose if additional rigs are required they will have to be brought in but I did not check this. I must add that it is possible to carry out drilling activities even as late as October in Greenland. That’s exactly what Eclipse Metals Ltd did in 2022, albeit with their project located much further south of Disko - https://tinyurl.com/5c28ndv5
Moving away from the subject of fieldwork, I am of the view that the current JV would most likely be revised (> 90% chance). Furthermore, I will not rule out the possibility of a major miner joining as a partner sooner rather than later (at least a 50% chance). Whatever JAY is working on at the moment cannot be hurried just because shareholders are impatient. Moreover, I am sure no shareholder wants to see another aborted maiden drilling debacle like what happened in 2022 by rushing things unnecessarily.
Interesting times could be ahead at last!
"The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty".
IvRoche (1 February 2024 at 09:51): "My own speculation on that is Kobolds reputation would take a big hit if they did that, remember Bluejay are not Kobolds only partners and a move like that would make others skeptical of doing business with them. Not only would reputation (trustworthiness) take a hit but also would call into question their tech, they spend all that money all, identify large targets in Disko and pump out statements like most significant Nickel discovery in 100 years and they don't follow it up..."
I agree with the central tenets of IvRoche's message (i.e. reputation, trustworthiness, etc must matter for KoBold). My view is we should not assume every company is unscrupulous - https://koboldmetals.com/ethics
Well our new/old management team have done brilliant so far! lol.
I don't see it as poor form either, and the reason being I was and always am transparent. Poor form would have been not telling anyone I was out. Poor form is RE stating on numerous occasions KoBold HAD agreed to drill when they clearly haven't..yet. Don't get me wrong, I think they will but as I know to my cost here, just pointing out nothing is certain.
I don't see it as poor form from Hemp, it's speculation - which is what most people post on here...
My own speculation on that is Kobolds reputation would take a big hit if they did that, remember Bluejay are not Kobolds only partners and a move like that would make others skeptical of doing business with them.
Not only would reputation (trustworthiness) take a hit but also would call into question their tech, they spend all that money all, identify large targets in Disko and pump out statements like most significant Nickel discovery in 100 years and they don't follow it up...
Add on to that, Norilisk Nickel is Russian and are so large a player they almost set the prices for Nickel concentrate plus Nickel is on the Americans critical minerals strategy - American strategy would love if Kobold can unearth High grade Nickel in a safe jurisdiction...
I remain 70/80% confident that they will drill this year.
Poor form hemo, you sold and now warn others. I had you down as better than that.
Bluejay could of course drill themselves and keep 51% .
Investing I'd be careful being so bullish on this, at least until KoBold actually confirm they will actually drill this year. If they as smart as everyone says they are, why would they spend $11m to get 2% when they could do nothing and buy Bluejay's 51% for $6m next year, and own 100% of Disko?
Yea plenty happy to be negative or bearish down here
Cash in bank. Directors skin in game. Oversold. Stupid valuation given their assets
Disko going to be in play soon along with Kobold. Divesting other assets to bring in cash
It could easily be a star performer of 2024 from these levels
Bear trap chart.....cant beat them booties
a bit like he1 the other week at 0.19.....
If so that should be another huge sign of confidence. They have already added at 0.4p and Rod took an extra 10m at 0.5p
The yhave to have a good plan and be confident of this trading over 1p quite easily
Directors have said they will be buying more
Thanks for the extensive post. Really informative and i do agree that Disko is where the value is
Good to see the book looking much better now. Won't take much to see this heading into the 0.5s
I am not here to convince others of Disko. That is a matter for each individual to assess. All that I would ask is are you looking at JAY through the right lenses at this juncture when the share price is at this low level with potential upside on the Disko project? If you are looking for a copper-bottom guarantee, forget JAY, and move on. For Pete's sake, we are looking at an early-stage junior miner who is still in the exploration stage. It therefore boils down to what Risk-Reward Ratio is acceptable, taking into account one's risk tolerance depending on the personal circumstances and investment goals. That's enough talk of the 3Rs!
Turning to JAY, I am expecting Disko to bring about a profound positive value change in the company in the short term and I am happy to wait patiently for two key events to play out and then take stock again:
1. Announcement before the end of March 2024 of a fieldwork programme including a drilling campaign this summer.
2. Announcement before the end of 2024 of the assay results following the drilling campaign.
I promise to return to this post before the end of March 2024 and then again before the end of 2024.
Back to the interview. Rod McIllree's words: "It's not something I am prepared to go into too much. KoBold is a very sophisticated organisation and they make their own decisions and they are very considered and competent people. We hope to have some news on some upcoming activities in 2024 but I leave that for the Managing Director (Eric Sondergaard) to elaborate" (4:00 mins into the video - https://youtu.be/i_9UOExW7Wc?t=5 )
The above is just one example of where RM was careful not to tread on KoBold's toes while they are considering Stage II of the JV but at the same time RE did his best to convey the positive message that there would be work activities at Disko in 2024. I can produce further excerpts from the interview where he conveyed similar kinds of positive messages about Disko but obliquely (e.g. forward wind video to 13:00 mins; 16:00 mins and 19:00 mins).
Patience is not the ability to wait, but the ability to keep a good attitude while waiting.