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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.
Au revoir again Ashton
Same as others have said I don’t feel how the departure of the only out and out bull brings balance to the force - I mean board.
Personally I’ve all but given up on Jay. I will retain a seven figure number of shares that sounds impressive but with Jay that’s now worth next to nothing. I’m not selling but equally not adding to my holding unless material progress or news is announced.
Recently this was for me a speculative Net Zero transition play - there aren’t enough battery or electric infrastructure metals for this to happen and it was my hope that Jays potentially huge resources could somehow be expedited and put to work but neither Jay nor vast expansion of electric infrastructure is going anywhere fast. (A topic for another forum.)
I think you need to reconsider.
It looks like you have been bullied off by the Altruists.
As you said Rach's first post was having a pop at you; job done for him/her/
I fail to see how your leaving provides a more balanced board.
All the best Ashton. Thanks for your efforts to date. This board seems to have become rather combative of late where anything positive is shot down. The board need to deliver now. Comms are pitiful as always and the share price appalling. Hopefully someone has a plan. I am heavily invested here and well down with an average of 3.9p some bought on 2018 as high as 24p. As long as the metal is in the ground I still have hope. With Dundas reinstated and fully permitted I am hopeful that there will be enough money to see JAY achieve some sort of return for shareholders……eventually.
That is a sensible list of questions. Now we are virtually into the month of May, perhaps the BOD have almost had enough time to complete the tasks in question, lol.
IMO, you should have had answers to several of those questions long before now (not least the cash runway question), but it is good that you seem to be keeping their feet to the fire.
Like a few of the other posters, I obviously think that your optimism and faith is misplaced, but as long as the company is a going concern, I guess hope remains for your holding here.
Until the next company update, I wish you all good day too.
If I had the time, I would love to work out how much ££ had been extracted from shareholders in these different companies of the years. We oft cause Rod of failing to turn exploration into mining, but he sure has extracted a huge seam of cash from these ventures…
I have decided to take a break from posting. Before I go I must make it clear that contrary to what some posters might think, I am not here to promote JAY. My posts have been a reflection of my unflinching and unshakeable belief in the promising assets of JAY, in particular, Disko and Kangerluarsuk (district-scale tenements). My hopes for JAY may or may not materialise and I know only too well that JAY being an early-stage mining explorer is a high-risk/high-reward play. Just like other shareholders, my objective is to hopefully get a decent return on my investment. Although there have been some serious setbacks recently (e.g. suspension of the Dundas project, lack of progress with Disko, etc.), I hope Eric Sondergaard (MD) and his team will progress the company with renewed vigour and reverse the abysmal share price performance he has inherited.
I am not blind to JAY’s weaknesses. For my part, I have conveyed to both the previous management and present management that there are two key areas of weaknesses where JAY can and should do better:
1. Management fulfills the expectations they raise.
2. Management provides timely and effective communication.
In terms of timely and effective communication, shareholders are waiting for answers to the following questions and updates on them:
1. What is the plan for progressing the Disko project?
2. Kangerluarsuk and Hammaslahti have now been deemed as strategic assets and are therefore not for sale. So, what are the plans for progressing the development of these two assets?
3. What are the plans for and the progress on the sale of Dundas, Thunderstone, Enonkoski and Outokumpu assets?
4. What does the recently announced "Expansion of Corporate Strategy" actually mean in practice and how will it create significant shareholder value?
5. How will JAY fund its business over the next two years?
I have conveyed to the present management the urgent need for answers to and updates on the above. I have also conveyed the urgent need for the maiden interview with ES. The interview is now well overdue given the fact that four months have passed since ES was appointed.
I am expecting some news updates pretty soon. They could come out within a matter of weeks or even days.
Finally, maybe my departure will bring a more balanced playing field for discussions about JAY.
Good luck shareholders and Goodbye!
EnuffRMbs - well he had to go in the end didn't he. He hung on for as long as he could by thwarting several attempts by one of the largest shareholders to oust him from the BOD. Unprofessional and underhand tactics being exhibited. True to form RM was thinking of himself (and Goodfellow) as they would both apparently receive £100k pa in payment should the rto planned for 2023 go ahead. Needless to say RM wanted to keep the deal alive and wished to renegotiate the deal with worse conditions for the More Acq shareholders. He didn't give a s##t about shareholder value being trashed he apparently wanted to feather his own nest. My, doesn't that sound familiar?
I see Ashton is again quoting the BOD of Jay as recently stating 'our ultimate goal of creating significant shareholder value." Now I seem to recall that has been said on numerous occasions over the last 4 years or more - all the while the share price dropped by c. 99.5%. Shareholder value? The BOD of Jay don't (and never have) give a s##t about shareholder value - they want to suck the company and investors dry before moving onto the next reincarnation of a bs business. See the list of RM's previous companies where the shareholders have been shafted and lost anywhere between 95 - 100% of their investment. In fact, in all of the companies that RM has been involved with I cannot find a single company where shareholder value has been enhanced for LTHs. But of course Ashton knows best and this time the leopard will change his spots. LOL.
I finally discovered that the helium reserves were mistakenly confused with Nickel. In fact Helium is absorbed in a giant deposit of copper and Nickel in Disko. I also read that Dundas, besides being a large reserve of cod fish, has also the biggest world deposits of ilmanite and camelnite and poonite. Kungas offer a new surprise: helium discovered in large conglomerates of whisky. Time to FOMO. I'm all in to Jay! GLA...
Fair point, CC. The question was "More importantly, did that last RNS strike you as remotely credible, Ashton?" and the question could be interpreted in the way you have suggested. But equally, it could also be interpreted as a question of how credible it is to broaden the strategy to cover exploration into new areas such as helium, industrial gas and hydrocarbons. For example, (a) Does the company have sufficient experience to embark on this new field? (b) Where will the funds come from for pursuing this expanded strategy? and so on.
It was a broad question open to different interpretations.
I don't think that the Altruists were asking for your opinion on recent empirical evidence regarding the change of strategy, because as you say there is very little to go on.
I think the point they make is the current Management are in large part responsible for the current share price, primarily because of putting all their eggs in the Dundas basket and basically giving Disko away for as RE said " not a lot of dollars"
And this current dip into the Helium et al market is not a reflection of the viability of those markets but the inability of Management to formulate a strategy for the assets they already have ?
In the note you posted on 23 Apr 2024 at 14:43, you asked: "More importantly, did that last RNS (19 April 2024 - "Expansion of Corporate Strategy") strike you as remotely credible, Ashton?"
Sorry for not getting back to you sooner but I was hoping there would be further news on the "Expansion of Corporate Strategy" before replying. Anyway, here is my interim reply. The RNS said: "Our decision to consider opportunities in the helium, industrial gas and hydrocarbon space has come about through the identification of a number of very compelling, large-scale opportunities which the Company believes warrant further consideration. These potential opportunities align perfectly with our ultimate goal of creating significant shareholder value."
My comment: JAY says this opportunity would create significant shareholder value. I welcome that but JAY has not provided either any details of the opportunity or how it would provide significant shareholder value. I await further information from JAY before I can come to an informed view. Until then I am keeping an open mind. I am sorry, but that's the best reply I can give you at the moment. Anyway, when JAY has provided further details on the matter you should also, hopefully, be able to form an informed view - https://tinyurl.com/ye24up8j
Thoughts on how a BHP takeover would impact AA and in particular their Greenland exploration ambitions?
BHP are potentially going to close or mothball their Nickel operations in WA. Not sure they are terribly interested in finding a large Nickel deposit. Copper yes.
Talking of More Acquisitions, Rod resigned but large shareholder I think. What do you make of his parting comments?
Current director Charles Goodfellow will remain on the board with Roderick McIllree retiring effective immediately.
Rod McIllree, Executive Director of More Acquisitions plc, said:
"Today marks a significant point in the evolution of More Acquisitions. The appointment of Neil and Stanley to the Board of the Company marks an exciting step towards the execution of a reverse take-over which is expected to be value enhancing for all stakeholders. They begin their tenure on a positive note by investing in the Company at a significant premium to the market thereby confirming their faith in their stated objective of value creation. I am very confident I leave the company in good hands and look forward to continuing as a shareholder as it now moves through these next value enhancing steps."
You need to add Alien (UFO) to the list and also the amusingly named More Acquisitions.