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In fairness, this pretty much confirms what a lot of people on here already suspected especially related to the drilling method.
However, the damage is already done to investors trust and just because they have reinstated prior resource estimates doesn't mean that everything will suddenly be alright.
What to say? This company remains a real head-scratcher.
At least holders have an update on Dundas I guess, although this looks like a lot of road still ahead before any kind of destination, to my mind. No progress on selling this, or any of the other assets, one can only presume.
It will be interesting to see what the market makes of this and whether they interpret it differently to current or former holders that feel mistrust or at least cynicism, based on our experiences in this name.
It will be interesting reading the differing opinions today. GLA.
Ok RedKnight, let’s go with that. So should we accept the Disko fieldwork conducted over same period managed by same people?
I'm only an amateur but having read the RNS in detail it seems that 2022 was an utter shambles.
Let's see what the market thinks. It strikes me that the Board wouldn't reinstate Dundas without good reason, especially with cash resources so limited.
And the award of options at such a low strike rate suggests either a degree of optimism or the possibility of a predatory approach sooner rather than later.
Indeed this revision may be inviting one.
After all, even at 1p AA, RIO or Kobold could pick this up for c£17 million...buttons...
Don’t be like that Big Boy. We’ve struck gold! Comedy gold.
Surely everyone will believe it all. A Qualified Person has put their name to it after all. Oh, it's RM............
It's time to play the music
It's time to light the lights
It's time to meet the Muppets on the Muppet Show tonight
It's time to put on make up
It's time to dress up right
It's time to raise the curtain on the Muppet Show tonight
I won’t get into more blah blah about nothing. Argumentative conversation has nothing to do with scientific data.
I will give you the tips, use Google search and make your assumptions.
1- Drone-based magnetic and multispectral surveys to develop a 3D model for mineral exploration at Qullissat, Disko Island, Greenland.
2- Results of MMI and SGH Geochemical Surveys at the Disko-Nuussuaq Project and Licence Expansion
3- Dr Iain Allison, University of Glasgow
4- RESULTS OF 2022 FIELD PROGRAMME AT DISKO-NUUSSUAQ
5-Lithostratigraphy, geology and geochemistry of the volcanic rocks of the Vaigat Formation on Disko and Nuussuaq, Paleocene of West Greenland
Take your conclusions. Pray.
Well you seem to have got that right about LWHL being a decent guy.His posts on here are purely altruistic.
Chirpy
ok cheers...i always was a bit slow.lol.
I think for the likes of the majors, they (with the support of their shareholders) position themselves to be ready to move quickly when the opportunity presents itself.
It is in that sense, an affordable numbers game for them. Not to mention the quiet benefits of building and retaining governmental contacts/networks, which neither they, nor I suspect, government officials in the various jurisdictions, deem a waste of time.
They plan in the decades ahead, and have the financial means to do so. Unlike the pre-revenue explorers.
If Kobold go ahead and drill, then fair enough about it not necessarily mattering who walked away from who back then.
My interest in JAY is not intense. As a former fairly long term shareholder, which I have been fully transparent about before, I guess I just want to urge caution to potentially new or even existing shareholders about this outfit, who, for whatever reason, may have overlooked the massive number of red flags here.
And provide some counter balance to the bullish comments which generally outnumber the bearish comments I think.
But I will leave it there now and await news on Disko or the asset sales.
I hope that you and your fellow holders at least keep chasing the BOD for clear and specific updates on this (and the cash runway IMO). It is your company, after all and they are meant to work for you. GLA.
Been blue all day! ?
Blue
LWHL - You say: "To your point about AA: Yes I am, although I am not sure whether it was JAY who decided to go with Kobold ahead of AA. Furthermore, AA's willingness to pay those licence fees does not really signify much. These big boys have deep pockets and to them such things are pocket change."
Taking the first part of your comment, the important point here is that AA was interested in Disko. Who walked out of the deal is secondary. It seems AA's offer included a multiple of the dollars committed under the KoBold deal and for a longer tenure of time. Despite such an offer, JAY decided to go with KoBold. Forward wind this video to 8:45 and listen to Rob Edwards talking about Disko and a major miner without mentioning the name AA - https://tinyurl.com/3uxdwk8e
Taking the second part of your comment, it may be a pocket change for AA but they also have shareholders to whom they are answerable. Besides, not only AA has been paying the annual regulatory fees but has also been carrying out field activities. Why would they go to such trouble? Besides, what is there to gain by staying in Greenland if AA is not interested in developing their project, wasting other peoples' time including that of the Government of Greenland?
I am tempted to say your interpretation and reasoning of AA's reasons for staying in Greenland is somewhat tenuous.
As for your comment: "I am not a shorter, nor looking to get back in here cheaper than the current price etc" - I have never regarded you as a shorter but have been intrigued by your intense interest in JAY despite being a non-shareholder or any intention to become one. You also come across as a decent guy!
RachT (28 Mar 2024 at 14:17- Posted under COBR): "I'm not sure why Jollifant makes the claim that I own PRE; and Rach is short for Rachel so he's wrong on at least 2 counts."
I have quoted you verbatim. It is blatantly clear that Jollifant claimed that you own PRE and you denied it. This means you can confirm or deny your holdings when it suits you, which is the opposite of what you said to ChirpyCheep.
You can say I am delusional about JAY but at least I am not deceitful, ill-mannered or discourteous. Did you come on this board to talk about Ashton because even your first post was about me? You turn the conversation I am having with LWHT to talk about Ashton. Any chance you could switch to talking about JAY instead of Ashton and spare us of your tedious posts?
Utterly tedious intellectual master baiting...
RachT and Catwithamnesia filtered...
Personally, I do not support the lack of courtesy and good manners. Likewise, I do not support the lack of evidence.
However, Troajan the facts are absolutely inescapable:
- multiple episodes of damaging management of the company's assets
-lack of planning and timely communication
- multiple episodes of shareholder dilution, without prior warning, with an impact on shareholder wealth
- instability in the governing bodies, without shareholders being consulted and changes being put forward to votes
- professional past of members of the management body very questionable
- lack of valid information about the assets under JAY's management, both at a geological level and at a prospecting level
- progressive reduction of Jay's technical staff, currently restricted
- multiple episodes in Jay's past that corroborate the thesis of an ongoing fraudulent scheme (let's hope this is not the case at the moment): change of name of the company, headquarters, management bodies.
In the midst of this panorama, it is not worth being white. You have to be assertive and transparent, even if the reality is difficult. Just search the gov.uk databases and we'll see what happened before at Bluejay. If this time is different...that's great. At the moment my portfolio has shrunk by 75%. And for this I only partly blame the presence of Kobold, a factor of credibility in the process. Roy, Eric...past too dark to justify any investment.
"In a moment of darkness, buy a candle and a six pack. Hold on to what you can hold on to."
Ashton - Let's put my comment on the COBR thread in context - Jollifant stated -
'It's glaringly obvious that RachT has suddenly surfaced here to ramp his investment in Pensana.' I neither confirmed or denied any holding in PRE (although I can now see why you may have interpreted it that way) - I posted to clarify that he was wrong in his statement of my intent and wrong to refer to me as he. You may refer to me in whatever manner you wish :-) but FYI your comment 'RachT has claimed that the name is not Rachel' is also incorrect, I haven't said that.
In your reply to LWHL this morning you asked 'what weight of evidence'. Unfortunately your delusional behaviour means you are blinded to the past record of JAY, RM, RE etc etc. Blinded to facts. Blind to all their past promises and reassurances, blind to RM's track record of value destruction at several previous companies and his 'dodgy' dealings, blind to the destruction of shareholder value at JAY, blind to your own LARGE loss, blind to the enormous task ahead just to make sure this company even survives etc etc. Instead you continue hypothesising (as you seem to have done continually for the years in which your own investment gradual fell by around 97%) of various possibilities and outcomes and changes to strategies - the accuracy of your predictions is almost as poor as JAY's. You repeatedly re-inforce your arguement by issuing such comments as 'I know for a fact' or 'I have been advised by JAY' and have done so for most of the time that you have lost 97% of your investment. Does it never cross your mind that you are being taken for a ride? They can say whatever they like to you knowing that there is absolutely no comeback to them and they can be safe in the knowledge that you'll post whatever rubbish you're told - and probably embellish it with your own positive opinion. That's the truth but unfortunately you are incapable of seeing it. If I where a shorter of shares I would like to have shorted JAY for the entire period that you have been bigging it up.
I was being somewhat flippant with my lol comment. I understand the pretext of additional listings. As the history of this company shows, there have been plenty of incantations and I am sure there will be more in future.
Whether any non-employee shareholder ever sees a return on any investment in any current or future listing, is an opinion that we will no doubt have to disagree on.
To your point about AA: Yes I am, although I am not sure whether it was JAY who decided to go with Kobold ahead of AA. I remember lots of confidence and excitement over Rio and Dundas. And shareholders were led to believe that was a shovel-ready project, in case anyone here has forgotten. The track record of this company speaks for itself.
Furthermore, AA's willingness to pay those licence fees does not really signify much. These big boys have deep pockets and to them such things are pocket change. If having such names on board or in partnership offered anything solid, then CHF and presumably HZM would look somewhat different. There are plenty of other examples over the years, too.
Not suggesting that traders might not be able to make profits in any of these names, including JAY at one point or another, but you have made clear that you are fundamentally an investor here, Ashton and so I approach our discussions from this viewpoint, not greater fool theory trading probabilities.
FWIW, I am not a shorter, nor looking to get back in here cheaper than the current price etc. GLA.
ChirpyCheep when you tried to establish whether RachT is a JAY shareholder, he replied that he does not disclose holdings. This is what he said:
RachT (4 Apr 2024 at 09:15 - Posted under JAY): "ChirpyCheep - I don't disclose holdings or dealings."
You said RachT displays the same attritional style on the other board he posts on COBR. So, out of curiosity, I took a look. Guess what I found! He will disclose his holdings when it suits him.
RachT (28 Mar 2024 at 14:17- Posted under COBR): "I'm not sure why Jollifant makes the claim that I own PRE; and Rach is short for Rachel so he's wrong on at least 2 counts."
For me, this proves that RachT can be economical with the truth and will disclose his holdings when it suits him. From now on I will be more careful in reading anything into what he says. He said (13 Apr 2024 at 09:50): "JAY will need placing after placing and then go bust." I will not rule out the possibility that he could be a short-seller.
PS: RachT has claimed that the name is not Rachel (28 Mar 2024 at 14:17- Posted under COBR). I do not know whether RachT is a man or a woman but I will address the person as he/him unless I am corrected.
Thanks for the reply and here is my response.
Point 1: "If KoBold are going to drill Disko this year, it will need to be announced, and work commenced, PDQ. Mid April already, tick tock."
My comment: If it is going to happen at all, it will need to be announced by May and no later. I have been advised by JAY that the closing date for field activity licenses is in May. I have checked on the MSLA website. The only field activity licence that has been granted so far is to the miner Itinnera Solutions ApS.
Point 2: "If Kobold does not, then why would anyone else look to partner up here?"
My comment: Why is Anglo American still a large licence holder at Disko (7,379km²)? Why is AA paying annual regulatory fees running into circa £4m to the Government of Greenland? They have not walked away. Did you know that AA was in negotiations with JAY over Disko before JAY decided to go with KoBold? I must say I am somewhat surprised by your question. Maybe you did not know all these facts.
Point 3: "Similar to point one really, although less excuse if they are not relying on a third party to do the actual work."
My comment: Funding the drilling activity at Kangerluarsuk will be the main issue here. Drilling rigs are already in place.
Point 4: "Will JAY actually succeed in getting anything for any of them? Sure, it takes time to negotiate stuff."
My comment: We don't know whether JAY will succeed in selling any of its assets but glad you acknowledge that it takes time to negotiate. I know for a fact they are talking to buyers about the assets and one is from farther afield. RM gave the timescale as June 2024 in his interview for an update on the sale of assets (I presume you have seen the interview). So please be patient on this issue.
Point 6: "Why the need to keep opening new listings all over the place? Just use the current one, lol."
My comment: You can't use the current listing if you really understand what is involved (lol). You will need to completely decouple Disko from JAY and list it separately as a battery metal miner for it to be attractive to the market. This means a separate listing of Nikkeli Greenland A/S with the consent of KoBold or someone else if they buy off KoBold's 51%. Should this route be followed, the current Bluejay listing will continue with JAY's existing assets until they are sold off except Kangerluarsuk. I have it on good authority that JAY will keep Kangerluarsuk. Please go back and read a note I posted on the benefits of listing Nikkeli Greenland A/S.
Point 7: "This is the easiest one to answer. Barring something unforeseen, like a miracle perhaps, involving some of the above happening to deliver some serious upside, then it will continue to involve heavily discounted placings, before perhaps one final death spiral finance deal, when no more retail money can be squeezed, and then pop."
My comment; That's one view. There can be other views.
The bottom line is best to wait for the update!
Rach short for Rachel - what's with the 'he'
Troajan - you need to read the thread more thoroughly, seems maybe it is you making things up lol
1. ppm figures were from 'core drilling' at their main site - not surface sampling as you state
2. Ph level of acid used will make a huge difference to recovery rates
Ashton - as stated, I'm pleased for you that you have convinced yourself that you haven't made a loss - I do not agree with you at all
If KoBold are going to drill Disko this year, it will need to be announced, and work commenced, PDQ. Mid April already, tick tock.
If Kobold does not, then why would anyone else look to partner up here? If it is that good a prospect, then why would K take the risk of losing it?
Point 3: Similar to point one really, although less excuse if they are not relying on a third party to do the actual work.
Point 4: Will JAY actually succeed in getting anything for any of them? I voiced my doubts on this a few months ago I think it was, when some of you were putting forward your own various calculations. Sure, it takes time to negotiate stuff, but based on the track record of the BOD here...where is the evidence that they have pulled off some terrific asset sales beforehand?
Point 6: Why the need to keep opening new listings all over the place? Just use the current one, lol.
Point 7 is the easiest one to answer. Barring something unforeseen, like a miracle perhaps, involving some of the above happening to deliver some serious upside, then it will continue to involve heavily discounted placings, before perhaps one final death spiral finance deal, when no more retail money can be squeezed, and then pop.
At some point, the words of these directors need to actually lead to some solid outcomes. This is hardly a young company, for goodness sake. GLA.
LWHL - Under a different thread, you said: "I am amazed at your continued enthusiasm here, Ashton. It is against all logic and weight of evidence that suggests your faith is entirely misplaced."
What weight of evidence? Do you have the answers to the following questions? If so, please share them and state your evidence. I am waiting to find out the answers to at least some of the questions in the update from JAY followed by an interview with Sondergaard.
1. Will KoBold drill at Disko this year?
2. If KoBold does not drill at Disko this year, will JAY bring in a major miner as a partner for Disko?
3. Will JAY drill at Kangerluarsuk this year?
4. Will JAY succeed in selling any of its assets this year (in other words some kind of inbound partial or full acquisition of JAY's assets)?
5. If the answer to (4) is "Yes", which asset(s) will be the target for the acquisition(s) and how much money will be raised?
6. Will Disko be listed on the stock market?
7. How will JAY fund its business over the next few years?
I wonder whether other JAY doubters would care to answer these questions.
Calm down, RachT, there is no need to get abusive with your language by name-calling a fellow poster, especially repeatedly.
I note that you have not disagreed with the cardinal rule I stated which was, when playing the stock market a profit is never a profit until you have sold the shares and bagged the money. This message should be repeated for the benefit of newcomers to the stock market.