Member Info for A-s-h-t-o-n

Https://tinyurl.com/mr3jaen7

The latest RNS on 19 April 2024 had this statement: "This project (Disko) represents the LARGEST POTENTIAL UPSIDE in the company's current portfolio."

A key question arising from this upbeat statement is will JAY succeed in progressing the project to realise Disko's full upside potential with or without KoBold. I have repeatedly said here that the Disko project will need a major miner at some point. Let's see what the impending update says.

Hello Catwithamnesia - Thanks for asking, I am very well. How are you?

Here is my short reply to your long post. You say: "Until then we are just talking about things to entertain while some people are making fun of other people's money. It's not the first nor will it be the last time they do it."

Until we have an update from JAY no one knows for sure what the next step is for Disko. I agree with you, what we are doing in the meantime is talking about things to entertain ourselves (as you put it). 

ChirpyCheep - You ask: “Have you been in conversation (with JAY) since?”

Yes, I have, and on two issues: (a) Divestment of assets and (b) Eric Sondergaard’s impending maiden interview.

(a) I am advised that the divestment process is continuing. I am expecting an update soon, given this encouraging statement in the RNS on 19 April 2024: "The Company is in the process of rationalising its current Finland portfolio for further cost savings, and expects to be able to update the market on this SHORTLY shortly."

(b) No indication from JAY as to when we can expect the interview with ES but I have stressed the urgent need to break the radio silence given the fact that since ES' appointment 4 months ago on 20 December 2023 some important decisions have taken place (Expansion of the corporate strategy; Reinstatement of the Dundas 2019 MRE, etc). Disko update is also due. I am hoping that the interview will take place SHORTLY.

On 30 April 2024, Anglo American will be holding its AGM at The Mermaid London, Puddle Dock, London EC4V 3DB. I hope to attend. If I do, I will try to find out from the Directors about the company’s progress on its Disko project in Greenland, in particular when the maiden drilling is likely to happen. AA carried out field activities at Disko in 2022 and 2023. Its Disko tenement is a massive 7,379km² compared with JAY’s acreage of 2,903km² (not including the 116 km² mentioned in the RNS on 21 September 2023). AA's licence areas surround that of JAY's.

​I would not rule out the possibility of AA teaming up with JAY on the latter’s Disko project. I noted with interest this statement in ​the latest RNS​ on 19 April 2024: "This project (Disko) represents the LARGEST POTENTIAL UPSIDE upside in the company's current portfolio." JAY could have easily avoided this statement but chose to include it. Why?​ Only time will tell.

Eric Sondergaard completes 4 months as MD of Bluejay today. I wonder when we can expect his maiden interview, sooner the better.

In the meantime, I am tempted to describe shareholders' sentiments as:

- The anxious are tense (Will JAY go to the wall?)

- The weak are in fear of uncertainty (Will JAY turn things around?)

- The optimists are waiting for a brighter day (i.e. JAY's better days are ahead!)

KatAmnesia - Thank you for your concern but I don't rant, I don't rave and I don't get stressed out. You can see that from my posts. I wish I could say the same when reading your posts. So, if anything I have good reasons to be a bit concerned about KatAmnesia. As you say it's only cash and life has more meaningful things to offer. So dial down and enjoy life! Looking forward to reading your next post on JAY.

Pulsar Helium has two projects, the Topaz project in the USA and the Tunu project in Greenland. In Greenland, Pulsar has a Mineral Exploration Licence via its subsidiary Skyfire Ltd. The licence covers an area of 2,771km².

Article dated June 2023 - https://tinyurl.com/3ydrr5uh

Article dated April 2024 (Watch the video in the article) - https://tinyurl.com/33bnf5uu

RachT - You were more than "a little rude" given the fact that you dished out repeated insults but apologies accepted.

For someone who claims 40+ years of investing with a moderate degree of success, you should know ​better that vagaries of share prices are nothing new on AIM, especially junior mining stocks where prices can be highly volatile​. ​If a junior miner proves an asset as a mega find, the price can rocket.

On 19 Feb 2021, COBR was 3.3p and is now 1.1p as we speak. That is a value drop of 67% but who knows COBR may well recover all that loss and go beyond. Who can tell? You must be here for a reason.

Trombone - In the note RachT posted today at 08:18 and addressed to you she said: "If you dislike my posts you are free to not read and ignore them. Looking at many of your previous posts you have often referred to those posters that disagree with your narrative in an INSULTING manner."

I am a regular poster on the JAY chat board and RachT appeared on the board for the first time on 10 April 2024 and posted this: "Hi - new to this board but read a fair few of the posts and my conclusion is that - Ashton is a grade A muppet." I was taken aback by her comment on two counts: (a) Why get personal and behave in that manner especially when I have never disagreed with her on anything whatsoever (b) Being her maiden post on JAY, why did she focus on a poster instead of on the stock? She then volleys the same insult by calling me a muppet again in a post on 14 April 2024. Now she complains that you are behaving in an insulting manner towards other posters. The phrase "The pot calling the kettle black" comes to mind.

I don't like personal attacks and abusive behaviour. I have been posting on the JAY chat board since 2020. I had not come across such insulting behavior from a poster on the JAY chat board before RachT arrived. What is the matter with her? Does she realise that the LSE chat board standards do not permit abusive posts?

Finally, my apologies for coming on this board when I have nothing to contribute on the subject of COBR but thought I had to say what had to say about insulting behaviour on a chat board. It spoils discussions on a board and lowers its tone.

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!

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.

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.

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?

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.