The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
CC - You say: "BBs are about opinions not facts; the facts are all there to see."
I am sorry, but I will have to disagree. BBs should be about both facts and opinions. Also, not everyone is well-researched to know the facts so it is worth stating the facts. But never express opinions dressed up like facts.
Turning to your question about KoBold, I am of course disappointed that they won't be drilling this year. But why? Did KoBold's relationship with JAY's previous management break down? Was this a contributory factor in not drilling this year? Maybe it was because I thought these statements in the RNS on 29 April 2024 hinted at something was amiss with the relationship:
"Prior to the December 2023 board restructuring, JV discussions were focussed around KoBold's early reversion of the joint venture, rather than 2024 field activities. Consequently, the lead-time necessary to secure specialized drilling equipment far exceeded what would have been possible in 2024." - Was this an oblique criticism of JAY's previous management?
"We are thrilled to have Eric back at the Bluejay helm; he's a great technical operator, and with his leadership, we look forward to unlocking the full potential of our partnership." - Was Kurt House hinting here that the relationship with JAY's previous management was not that thrilling or great?
As for the future, JAY has given an undertaking in the RNS that Nikkeli anticipates initiating planning for 2025 activities in late 2024 and is committed to advancing the Disko project. We await details of the plan. I am also expecting a revised JV to be announced, possibly around the same time.
Good question.
17. Will KoBold and JAY agree to revise the terms of the current JV?
18. If so, what will be the terms of the revised JV?
Cheshire - What prompted me to post this note is what you have said recently: “Hopefully this won’t drag out for a decade! Waiting for some good news soon!”
Yes, I hope we don’t have to wait a decade and will have some good news in the near term (2024/2025). Anyone who has researched JAY properly will know that it is a HIGHLY SPECULATIVE HOPE SHARE. There have been relentless prophecies here that JAY’s future is doomed. Such opinions are just that and not the facts. The same applies to bull opinions, they are just that and not the facts. The factual position is we do not know the answers to too many of the questions in front of us to determine - with a good degree of confidence - whether JAY is doomed or will prosper. So, what are the questions and let’s take a look at them:
1. Will KoBold unearth a mega find at Disko?
2. If a mega find is unearthed, how might the share price react to the news?
3. If a mega find is unearthed, will a mining major become a partner soon after?
4. If a mining major becomes a partner how might the share price react to the news?
5. Will Nikkeli be listed on the stock exchange if a mega find is unearthed at Disko?
6. Will JAY succeed in selling any of its assets?
7. If so, how much cash will the sales bring in?
8. How might the share price react to the asset sales news?
9. Will there still be a commercially viable route for the Dundas project?
10. Will the new Thule copper asset turn out to be a commercially viable project?
11. Will the mining major who has already expressed a specific interest in the Thule project become a partner?
12. If the mining major becomes a partner how might the share price react to the news?
13. Will Kangerluarsuk and Hammaslahti turn out to be commercially viable projects?
14. How will JAY fund itself over the next two years for housekeeping expenses and costs associated with progressing the Disko, Kangerluarsuk, Hammaslahti and Thule projects?
15. Will there be a takeover offer for JAY?
16. Will JAY go bankrupt?
Until we have the answers to these questions, anyone who shouts that JAY is doomed or will prosper is simply expressing opinions and they are not facts. The fact of the matter is JAY's future will unravel when we have the answers to the questions I have listed. In the meantime, we will hear lots of opinions, both bear and bull. That's fine, but they are not facts. Until we have answers to the questions I have listed, JAY is HIGHLY SPECULATIVE HOPE SHARE. I suspect any neutral observer who has researched JAY well will know all this stuff already but I thought of listing the questions anyway.
My good wishes for your investment.
Cheshire - Although for the time being I have decided to take a rest from posting, your comments about JAY being a speculative stock have prompted me to post this note.
When there was no fieldwork at Disko in 2023 and 2024, there was consternation about whether KoBold would walk out of the JV. We now know that this is not the case. In fact, in the RNS on 29 April 2024, Kurt House, KoBold CEO, confirmed that KoBold finds the "foundational prospectivity of Disko compelling" and his company intends to "unlock Disko's full potential". Moreover, from 21 March 2024, Nikkeli has increased its Disko licence area by 112 km2, bringing the total licence area to 3,015 km2.
The big question is will KoBold uncover a mega find at Disko? That is the speculation. The tenement is regarded as a Ni-Cu-Co-PGE asset and It seems the big picture for Ni and Cu bodes well. Watch this recent video interview by BHP CEO (ref to copper and nickel from 3:30) - https://youtu.be/cQcZ1_fEg6U?t=1
I will now go back to resting and wish for good fortune with your investment in JAY.
ChirpyCheep - You asked for help with Eric Sondergaard's email address and I note no one has replied to your request. I therefore decided to interrupt my rest from posting just to help you out. Please click on this RNS 17 January 2024 link and page down and you will find Eric's email address. I will now go back to resting! - https://tinyurl.com/yke37pdt
PS: In case you are keenly waiting for the next announcement from JAY and the interview with ES, you will not have to wait long. They are likely to happen within a matter of weeks or even just a matter of days.
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!
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.
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
That was a 422-word garbage about Ashton and his shareholding. Who cares?
If someone says that they are here only to trade the stock on spikes to make a profit, there is nothing wrong with that approach. But why would that same person keep bashing the stock to death? One cannot rule out a cunning and devious plan at play here. They want to create as much fear among shareholders, hoping they would sell, in an attempt to get the share price as low as possible to make a greater gain when the spike happens. We are all here for a reason, so beware!
Going back to the list of rudimentary lessons in investing:
Lesson No.1: Be very careful of bullish and bearish posters on chat boards.
Another rudimentary lesson.
4. If after doing (1), (2) and (3) you are CONVINCED that the company is a bad investment don't waste your time, move on. Why waste your energy on a lost cause or a situation that cannot be changed?
"I considered that you were an investor. Like JAY you assume the role of a pumper transvestite as investor with wishful thinking."
"I think I prefer a transparent, high blood pressure good person (a dumb altruistic in your sense) than a sarcastic con."
Oh dear, that was some outburst! It's not good for your blood pressure. Anyway here are a few helpful lessons to ponder over:
Lesson No.1: Never blame others for one's poor investment decisions.
Lesson No.2: If one is CONVINCED that they have made a poor investment decision, the choice is there to sell up and move on. If one decides to still stay invested, stop moaning and groaning.
Lesson No.3: High blood pressure can cause serious health risks. Never get stressed over one's investment decisions. Health is more important than wealth.
Best to grow up and understand these home truths.
Calm down, Altruists. This is not good for your blood pressure.
IvRoche - Yes, you haven't missed much and what a waste of time all this noise. By the way, we now have a Club of Altruists on this board and some have already and openly declared their membership. But I thought anonymity was the truest expression of altruism.
Getting back to JAY, look out for the RNS update on Disko. I have always said that at some point Disko will need a major mining company as a partner with or without KoBold.
ChirpyCheep - I think I am right in saying I have always answered questions put to me. But if I have a choice, I avoid engaging with people who resort to using abusive language at me. I do the same in my private life. For me, money is not everything but decent behaviour is. I am what I am.
Recently, I have noticed a clear divide on the chat board here. There are believers and non-believers in JAY. I can understand why believers spend time and effort posting about JAY. But I don't understand why non-believers (some are ultra-non-believers) spend time and effort posting about the stock if they have no belief in it whatsoever.
Among the non-believers, I have identified at least one poster who is an ex-employee of JAY but will not expose the person, at least not for the time being.
Just an early warning to believers and neutral observers of JAY that ulterior motives are at play here.
Enuff - LWHL commented: " Perhaps they have simply not had ANY interest, at any price, for these assets?"
I was simply responding to LWHL's comment of "not had ANY interest". On the contrary, there was interest from at least one potential buyer at the time I attended the General Meeting in February 2024. There is a danger we might be going around in circles here.
LWHL - You say: "I did not consider that point, enuff."
Since you have made the above comment regarding the information I obtained at the General Meeting, your comment deserves a reply.
It is not unusual for company directors to disclose information outside RNS releases in open forums (e.g. media interviews that can be accessed by the general public). There is nothing wrong with such disclosures as long as the information disclosed is NOT regarded as price-sensitive. For example, JAY has already informed the market via RNS releases that some of its assets are for sale. Information that follow-up sales discussions with potential buyers are taking place can't be regarded as price-sensitive because that is a natural progression after informing the market of asset sales. What would be price-sensitive is that if and when the sales talks result in an agreement that information must be disclosed via an RNS in the first instance.
In fact, in this YouTube video interview dated 30 January 2023, Rod McIllree talks about ongoing sales conversations with potential buyers (at 18:45 mins) - https://youtu.be/i_9UOExW7Wc?t=1
Are we trying to make a mountain out of a molehill here?
LWHL - I should have added this to my last note. Please take a look at the last paragraph of the note I posted on 6 Feb 2024 at 13:53 after attending the General Meeting the day before.
LWHL - You say: "Perhaps they have simply not had ANY interest, at any price, for these assets?"
Not so. There has been an interest from at least one party. I attended the General Meeting in February 2024 and came to find out from a member of the Board of Directors that a potential buyer from South Asia was engaged in talks with JAY about the sale of assets.
You say JAY has been talking "for a long time". I would not describe 4 months as a "long time" considering any potential buyer has to carry out thorough due diligence and also negotiate mutually agreeable terms. This can be a prolonged affair. Just because we are in a hurry does not mean the process can be hurried.