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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?
In total agreement with those last posts. My assumption is that Troy brought in because of AA contacts to attempt to engage them in Disko in some format, with or without Kobald, who let’s face it would still have 49% without hassle of working with the Muppets Show.
Jimbolina - morning to you. I very much doubt it and thought exactly the same when some posters claimed Kobold's connection signalled Bill and Jeff's endorsement of JAY. Ludicrous really. BreakthroughEnergy has over 100 investments and will be run by a dedicated team of associated experts. However, I do think the team running it, almost be necessity, will require an unquestionable level of corporate governance due to both the involvement of it's founding members and of the almost altruistic endeavours it was established to create. Why get involved with the likes of RM? After all JAY is surely insignificant to BE - they are working (and have had success) at many other locations with many other enterprises. Time will tell if they even drill further on JAY's plot.
Do you think that Jeff and Bill even know the name Bluejay? I think they work in the clean fresh smelling stratosphere. Kobold dig about in the dirt like peasants. I doubt the two levels ever meet. They will have people to read the quarterly reports from Kobald. That they have even heard of Rod is unlikely. I don’t trust Rod for what it is worth but he is a necessary evil for now given his rather impressive connections built up over 20 years in Greenland.
Agree. If I’m being generous, I would describe him as ‘maverick’. There are others more appropriate.
EnuffRMbs - UFO, what a dubious co. that is / was. No doubt it's excellent corporate governance (LOL) inspired the infamous Dave Lenigas to promote it - that says all you need to know. Oh, and as it was such a well respected and highly regarded outfit (LOL again) RM saw an opening to work his usual magic and joined in for his share of a few dollars while the shareholder's value was being trashed.
I'm not sure why some poster think any company with the merest shred of dignity, honesty or record of good corporate governance would ever think about doing business with RM. I think Kobold are looking to get out, even if it costs them. I might be proved wrong of course but ultimately would Bill and Jeff want to be associated with a character like RM?
Sorry, Ricky is co owner now.
This is the kind of thing you can do when your mining company goes down the pan, but you have extracted millions from investors over the years,
https://youtu.be/rp_N_j60tbc?feature=shared
RachT. It’s exactly the same folk, albeit with a new geologist (not on BoD) and Troy. Troy left Alien (UFO) in a hurry. Rod was his predecessor there. Check out what has happened to share price there and also check out the finance company who is propping them up. All the usual suspects.
Troy has contacts at AA, which one hopes is why he is here. He is a contracts manager. Interestingly his old boss at Sirius/AA now has left mining and set up his own distillery (Chris Fraser). Believe it or not they have Ricky Gervais signed up and doing ads for their vodka. From mining to comedy. As JAY has demonstrated, they are not that far apart.
Expired a few months back but might be relevant.
Wasn’t listed in mining section.
https://www.suli.gl/resultat/vis-job/print-job.aspx?jobId=331580127&mode=print&hs_lang=en-GB
Ailean - thanks for confirming my suspicions. I thought it strange when another post earlier today advised dismissing any misgivings about previous BODs and give the current BOD a chance. Well are these not basically the same BOD (not including RE's short tenure of course) but now with less 'expert' colleagues (as they've been sacked)? The same BOD that over saw the value destruction of the last few years.
Ok, basically no one spend their precious time DD.
Geological studies were done previously. Disko and Dundas were carefully analyzed. There are reports by reliable entities ( not Bluejay). At least read the pdf of “ Lithostratigraphy, geology and geochemistry of the volcanic rocks of the Vaigat Formation on Disko and Nuussuaq, Paleocene of West Greenland”.
I always told that Dundas process was fishy. An asset that was previously well studied, since last century, eng.geus.dk/media/14398/nr174_p120-135.pdf, was dropped like a piece of garbage. Well…It won’t be the biggest ilmenite deposit in the world worth 10 trillion dollars. Like Disko is not a 1.5 trillion (Ashton don’t ask me to disclose my sources, check the documents I present here.
Assts they are valuable but they are a scam…BOD never, never completed any full mining process. They don’t know how to do it. And yes…they burned cash like white lines. Eric is useless, RM is not trustworthy and all together they look more like a mafia plan. They NEVER produce black in white good guidance, never gave any transparent info to shareholders and they back stabbed them more than once…I recall 3x.
All they do is this back and forward interview and market info that just tries to buy time. Meanwhile SP drops and they try to engage for the next plan, with a new name and diluted shareholder wealth.
I believe now that even Kobold cheap talk and AI bs is worthless. GEUS has produced investigation before, many other surveys were done and the AI Kobold is selling is as good as Colombo travel around the world(after getting many navigation charts from the Portuguese)…although himself he was a Portuguese. Eric is Danish right?…Idk and isn’t it a coincidence?…Bo anyway worked for Danish mining authority…right…
So…brace yourselves. Salut, Stella Artois.
Ashton, so why didn’t he say “value adding disposals”. I still don’t understand what is meant. Spell it out for us thickies.
Amazed that you got a reply so quickly.
According to today's RNS the biggest problem was the choice of drilling technique. Your telling me that as the COO of JAY at the time (in 2022), Sondergaard was not the person resposible for the drilling tender and approving the drilling contractor?
Oh, who was the Executive Chairman when the drilling/2022 programme was being planned? No other than Rod McIlree. He didn't resign from JAY until late June 2022.
Am I the only one here that finds it ironic that ES states that there are "serious concerns regarding the execution of the 2022 drilling campaign and decision making processes"... who was COO of JAY in summer 2022?... no other than Eric Sondergaard. As the most senior technical person in JAY at during the 2022 programme, then surely the book untimely stops with him? Talk about shooting yourself in the foot. What a fool.
I'd also recommend that holders also contact JAY's Nomad (SP Angel). Contact details at the end of the RNS. If AIM rules mean that the 2019 and 2023 Mineral Resource Estimate reports should have been publically disclosed (as they would need to be on the TSX and ASX by law) then is this is a major disclosure issue that needs to be flagged with JAY's nomad and/or the regulators.
To the best of my knowledge, neither of the Mineral Resource Estimate reports (2019 or 2023) have ever been disclosed?
If JAY was TSX or ASX listed then public disclosure of these reports would be a legal requirement. Seemingly the looser regulations on AIM mean that they can keep shareholders in the dark and refer only to cherry picked snipits from the studies to suit their latest story.
According to the Dundas page on JAY website (not updated yet following today's RNS) the 2023 JORC Mineral Resource Estimate was done by Palaris. They look to be a large mining consultancy group with a strong background in mineral sands having done studies for most of the Australian mineral sands players. There is clearly more to this story than JAY have presented in today's RNS.
Shareholders need to collectively put pressure on the new management to publish both the 2019 and 2023 reports on their website immediately. I encourage holders to email the management requesting this.
Eric @ bluejaymining . com
Rod @ bluejaymining . com
After all its the shareholders that paid for these reports. If there is nothing to hide there is no reason for the new management not to be transparent on this matter, particularly when in the same RNS the new management stated their "commitment to transparency" and promised to prioritize "clear communication, accountability and ethical conduct" (...not words that have ever been used to describe RM... and never will be).
In the RNS today, Eric Sondergaard (MD) says: "As Dundas is fully permitted, with a valid mining license, we will continue to review critical aspects of the project, as well as potential value adding acquisitions within the country."
Going by what a few posters have said here there is understandably some confusion over the statement. I therefore contacted ES for clarification. Here is my exchange with him.
Question from Ashton: "The RNS says: As Dundas is fully permitted, with a valid mining license, we will continue to review critical aspects of the project, as well as potential value adding acquisitions within the country." Does this mean Bluejay potentially acquiring new asset(s) within Greenland or potential inbound acquisition(s) of Bluejay's existing asset(s)? I would appreciate your clarification, please. Thanks
Reply from ES: "Potential inbound acquisition(s)." - unquote
Hope this clarification puts to bed the erroneous assumption among some posters that JAY is looking to acquire new assets in Greenland. Good God, in any case, JAY hasn't got any spare cash for such luxuries!
Sensible view, Ashton. Hopefully you will see some cash come into the business via asset sales, or at least a tangible update, before too much longer.
LWHL - You ask: "All things considered, including the cash position, would further acquisitions be welcome though, Ashton?" Absolutely not is my decisive answer.
Please refer to the note I posted on 14 Apr 2024 at 20:46 and addressed to you in which I asked: "Will JAY succeed in selling any of its assets this year (in other words some kind of INBOUND partial or full ACQUISITIONS of JAY's assets)?"
Please note I used the words "INBOUND ACQUISITIONS of JAY's assets. I did NOT say JAY acquiring new assets. Please see my next post.
Yes followthevein, they made a pigs ear of the TBS drilling in 2022 and as far as I can see have not published any results. I may have missed it? But GreenRoc all about the graphite now.