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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!
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.
RachT - A cardinal rule when playing the stock market is that a profit is never a profit until you have sold the shares and bagged the money. If you think otherwise you are kidding yourself. Remember the dot-com bubble when the bubble burst in 2001 and some markets fell as much as close to 80%. Anyone disagreeing with my view about perceived profits would be naive to a fault, and as it happens an appropriate thing to say under this thread considering its title.
RachT - You say: "The fact you haven't yet sold merely indicates that the loss has yet to be realised."
At last, we are on the same page: "...the loss has yet to be realised".
The same applies to a "gain". For Capital Gains Tax purposes, HMRC defines a "gain" as the profit you make when you SELL an asset, NOT before.
What obsession? I am not obsessed with RM. I have not asked anyone to research RM. I have not displayed an obsession for RM by picking a chat board name like enuff-RM-bs. They say there is a cure for an obsession; find another one!
KatAmenesia - You say: "There is no loss without a sell. Unless the company goes bankrupt."
I agree, but RachT thinks otherwise. I am waiting for his reply to my question.
RachT - You say: "If an object that you own has dropped in value it's worth has reduced; you've made a loss, pure and simple."
Okay, but I have not sold the object. Have I made an ACTUAL loss on the object? Give me a pure and simple "Yes" or "No" answer.
Thank you, KatAmnesia, I very much hope my strategy works. In the meantime, I intend to remain positive.
Correction: M&S which I bought in two chunks in May 2020 at 98p and £1.02.
Torreaguas - In your note on 10 Apr 2024 at 11:33, addressed to RachT, you said: "Maybe he (Ashton) will recover that, who knows."
I have learned some lessons since investing in JAY in 2020. That is, best to have a non-core shareholding for trading and a separate core holding for the long term (if one believes that JAY has a promising long-term future). I have taken advantage of the recent sharp fall in the share price and built up a non-core shareholding purely for trading but have been careful to drip-feed the buys into holding in small quantities (I started buying at 0.5p and below). Whether I make money from the two holdings (core and non-core) remains to be seen but I am reasonably confident. I did make some modest profits in 2020 and 2021 but nothing since then.
Contrary to what RachT has said, I don't regard that I am in profit or loss in a stock until I have sold the shares. To treat a paper gain as real gain is a fantasy just as to treat a paper loss as a real loss. It's a bit like you bet on a horse and halfway through the race the horse is leading and you claim that your horse has won the race or on the other hand the horse is behind and you conclude that the horse has lost. The best stock I am currently holding is M&S which I bought in two chucks in May 2020 at 98p and £1.02. They are currently trading at around £2.60. However, I would not regard the sizeable paper profit I am enjoying as real profit until I have sold the stock. The same would apply to paper losses. To think otherwise is a fallacy.
Back to your note to RachT, I am reasonably confident that I will not only recover my investment in JAY but make an actual profit from selling the shares, at least from my non-core shareholding in the short term.
ChirpyCheep - You say: "I actually can't remember you saying JAY has BEEN a good investment."
You are absolutely right, I have NEVER said JAY is a good investment. What I have said is that JAY is a high-risk/high-reward play. There is the risk that on one extreme an investor may lose all the money they have invested in the stock or on the other extreme may hit the jackpot.
RachT - For a new poster, you seem to be more determined to talk about Ashton than JAY. What a shame, but each to their own.
RachT - You call me a "grade A muppet". You say I display "delusional behaviour" because of my strong belief that JAY will be a winner. Under no circumstances I would have resorted to the use of such words to describe a fellow-poster, no matter. In my book that's not delusional behaviour, that's bad behaviour - no excuses. Besides, when I invited you to engage with me to discuss JAY - despite your personal attack on me - you declined my offer. Okay, that's your prerogative but I have a right of reply and that's my prerogative, so here it is:
1. Do you know what my total holding in JAY is and what the average price of the holding is? You don't
2. Do you know whether my holding is split into a core shareholding for long-term hold and a non-core shareholding for trading? You don't
3. Do you know whether I have already made any real gains by trading JAY shares? You don't
4. Do you know whether I have made any actual losses by selling JAY shares? You don't
5. Do you know what sources I tap into for researching JAY? You don't
6. Do you know all of the information that I have accumulated to date from my ongoing research into JAY? You don't
7. Do you know what the share price would be if JAY proves up the value of Disko? You don't
8. Do you know what the share price would be if JAY proves up the value of Kangerluarsuk? You don't
9. Do you know what the share prices were on 29.11.2015, 30.12.2015, 31.5.2016, 30.6.2017 and 30.04.2018? The answer is 0.5p, 1.5p, 5.4p, 14.1p and 25p respectively. I will leave it to you to calculate the percentage increase from 0.5p to 25p. So, there is no need for you to tell me that the share price has declined 96% to 0.29p because JAY share price can move in either direction dramatically as I have pointed out.
I haven't finished. I will be returning to this post after JAY has updated and the interview with Eric Sondergaard.
RachT - Welcome to the chat board. Happy to discuss JAY (without getting personal) after the RNS update from JAY and the interview with Eric.
ChirpyCheep - In the note I posted on 7 Apr 2024 at 14:56 under this thread I said: " At the General Meeting on 5 February (which I did attend), Rod McIllree made a brief but positive comment about Kangerluarsuk. I am inclined to think Kangerluarsuk will not be included in the sale of JAY's assets. If this proves to be correct, I am unable to say when drilling might take place."
Forward wind this video interview with Rod McIllree (30 Jan 2024) to 18:45 where he says: "....there is already drill rigs deployed in Greenland, so it could be drilling on Kangerluarsuk or maybe other projects there (My question: What other projects?)". He then immediately continues talking about KoBold - https://youtu.be/i_9UOExW7Wc?t=4
Hopefully, we will know the answers to those burning questions in the RNS update from JAY and the interview with Eric.
ChirpyCheep - You asked: " If you're sure Kanga will be kept, how does this tie in with your perception of a possible listing of Disko?"
I don’t see any contradiction in doing both at the same time. Here is the scenario:
1. Nikkeli Green A/S is listed as a new company (i.e. not as a subsidiary of JAY).
2. Bluejay monetises all of its assets except the district-scale and highly promising Kangerluarsuk tenement.
3. Bluejay continues to remain as a listed but reformed single-asset junior miner developing Kangerluarsuk (see footnote below for comments by Rob Edwards).
4. Bluejay develops Kangerluarsuk right through to production (like Amaroq Minerals, Greenland is trying to do with their Nalunaq project).
5. The newly listed Nikkeli is owned 51% by KoBold shareholders. The remaining 49% by Bluejay shareholders who will receive Nikkeli shares in proportion to their shareholding in Bluejay.
The funds raised from the IPO of Nikkeli are used for developing the initial stages of the Disko project. Further capital for the project can be raised in the normal way by issuing new shares in Nikkeli as its share price rises (e.g. Amaroq has done this). A variation to the above scenario is for KoBold to sell its 51% ownership of Nikkeli to a major miner (e.g. Anglo American) and Nikkeli is listed by the major miner and Bluejay.
You will recall Rod McIllree tried to list Disko and one of the reasons given was that a separate listing of it would capitalise on the fast-growing sector demand for strategic battery metals, allowing for the concurrent development of both Disko and the 100%-owned Dundas Titanium A/S ilmenite project, along with the rest of the asset portfolio. This gives some idea of RM's belief in the potential value of Disko in terms of how much can be raised via an IPO. The question is will he try again, and if so, when (e.g. after drilling and proving up the asset)?
You have also asked: "Would KoBold be interested in Kanga, which holds critical minerals ( and there are lots of those ) but is hardly Battery Minerals focused or Green?"
My short answer is, "No". KoBold's business model focuses on battery metals only.
Footnote: In the first few minutes of this interview, Rob Edwards talks about how Bluejay could easily be broken into three junior mining companies because of its district-scale assets (such as Kangerluarsuk and Disko). So, it is possible, after listing, that the reformed Bluejay could become a viable junior mining company with a single district-scale asset such as Kangerluarsuk? - https://youtu.be/cgIt_T6SJ08?t=10
You say: "thanks God i only have minimal 5 digit loss but...its a loss."
Not clear to me what you mean here. Are you saying you have sold your shares and suffered an actual 5-digit loss?
Catwithamnesia - That's a much better effort, listing of both negative and positive theoretical scenarios. I would add three more theoretical scenarios to the list:
1. Stock market listing of Nikkeli Greenland A/S
2. Takeover of Bluejay
3. Management Buyout (MBO) of Bluejay
Who knows, others may add to the list.
I like the qualification you have included in your concluding statement: "AT THE MOMENT lollipops and icecream are the only sweet things around. Cheers."
What none of us know is what is beyond "AT THE MOMENT". In the meantime, enjoy your lollipops and ice creams!
"Never stop wishing, because when you do, you stop believing in the magic of life."