Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
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.
GreenRoc previously held 4 licences in Greenland.
Like Bluejay one project seems to be focused on. Amitsoq Graphite Project in Nanortalik.
Melville Bay Iron Ore Licence was relinquished a few months back.
Inglefield Multi-Element licence, not mentioned no more.
It seems unless Greenland minerals Licence haven't updated but Thule Black Sands Ilmenite licence expired..
They had delays in their drilling programme.. results !!
"Bluejay reaffirms its commitment to transparency and integrity with its shareholders and will continue to prioritize clear communication, accountability and ethical conduct"... how ES and RM can say that with a straight face is beyond me!
The broker / John Meyer does not run the company, they are for advice, interpretation, networking and analyst etc. As they advise many companies, they are very much led by the materials given to them by the company, if there are dubious actors with malicious intent, the broker can only voice their opinions (with John did - numerous times). As always , nothing is “black and white”, there are shades of grey. Let’s see the next instalment and progress to recovering some sensibility - clearly things are in progress.
Yes John Meyer - the very same chap that once touted JAY to be worth 40+ per share but all the while he was busy ramping JAY his co. (SP Angel) were selling the shares they held in JAY into the price spike he created - nice work if you can get away with it, after all poor chap needs a decent salary for his exemplary work.
Im not sure why people keep referring back to the previous bod in such a way as to suggest anything they stated or promised holds any value whatsoever. The only material we should now be focused on is what s provided by the current bod whether you like/ trust them or not...they now have the wheel
Ah, John Meyer. A voice perfectly suited to TMS. Working in tandem with Aggers might confuse the listeners though.
As for his stock picks: listen to 'mining sector stock tips for 2020' (SP Angel 27 Dec 2019).
One of several reassuring commentaries on Bluejay, all of which, at the time of print, have been an absolute disaster for anyone who put money here.
Would be interesting to know if he remains bullish still on this one (and on BMN for that matter, which was also one of the gems he picked in the video as cited above).
To be fair, John Meyer always doubted that drilling set up.
https://www.share-talk.com/sp-angel-morning-view-todays-market-view-tuesday-16th-april-2024/
Acquisitions equals Thule black sands, surely
"The termination as of 28 January 2024 of the employment of Mr. Joshua Hughes, Vice President of Exploration, due to gross misconduct. Following an investigation, the Company found that Mr. Hughes had set up a competing business intended to operate in Greenland and, in breach of his employment contract, found that he had (i) misused Company confidential and proprietary information in securing exploration licenses surrounding the Company's Dundas Titanium project, and (ii) sought to conceal certain of these actions from the Company."
Mr Hughes actions suggest there is some value in the project, but IMO no one outside of JAY is going to trust any historic Dundas results now without further drilling.
Time they started extracting value from their existing acquisitions instead of spending on more opportunities in Greenland.
I'm expecting another placing this year (soon!), so that they can drill something, esp if Kobold dont drill Disko. They cant/wont sit on their hands waiting for an asset sale. which could take years.
All things considered, including the cash position, would further acquisitions be welcome though, Ashton?
IMO, you would be better off selling the non-Disko assets, as the BOD have said they would back in December, if memory serves correct, and then, should these sales result in a strong cash balance, new acquisitions might then be more logical, to my mind anyway. Especially in a challenging lending climate such as this one.
The risk of biting off more than one can chew comes to mind here too.
But look, you seem to remain bullish and good luck to you and fellow holders.
LWHL - In the note you posted at 07:39 today you said: "NO PROGRESS on selling this, or any of the OTHER assets, one can only presume." Fair enough, that's one way of looking at an unknown situation.
You will recall that in the note I posted on 14 Apr 2024 at 20:46" and addressed to you 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)?"
Eric Sondergaard (MD) says in today's RNS: "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."
The reason for choosing to use the word "ACQUISITIONS '' in my note was not random. That said, we have to wait and see what JAY actually meant by "ACQUISITIONS". In the meantime, all we can do is engage in positive, negative or neutral (open-minded) views on the matter.
Please do your own research.
At least the JAY SP isnt plagued by Bots...unlike SOLG...
Market seems tom like it...JAY is the only blue on my screen today...
Was it?
And if so it makes the Disko 'blowout' that I was told about even more credible...