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

ChirpyCheep - You ask: “Re your comments the other assets will be sold off. Any ideas how and how much for?”

I have not seen a recent reliable valuation figure for Bluejay’s six assets that will be sold off. However, the research report dated January 2022, which is available on the company website, gave a sum-of-the-parts valuation for Bluejay’s seven assets (including Disko and Dundas) as US$301m of which US$219m was assigned to Dundas.

Hemo - You ask: "One question for you, are you more or less confident in your investment following the latest RNS? You obviously reserve the right not to answer."

Happy to answer. Following the RNS, I am more confident of getting a decent return from my investment because Disko is now going to be the sole focus of JAY. I regard Disko as a highly reliable asset because of the wealth of historical records of its prospectivity, complemented by KoBold's recent upbeat findings.

Additionally, if JAY manages to monetise the remaining six assets, the company should be able to fund the development of Disko without suffering dilution of ownership of it and also avoid further equity placements to raise capital in the short term.

All that said, I still want to see the details of the new strategy which I am expecting in the first week of January 2024 or thereabouts.

EnuffRMbs - You say: "Anglo seem to be a thread running through this both in terms of their Greenland exploration interest and via Troy (Sirius and Alien)."

I would say that is a very logical and sensible comment.

In fact, on 20 December 2023 at 22:06, I posted this information:

"At Anglo American UK he (Troy Whittaker) was responsible for ensuring the delivery and execution of the mine site development to the required programme, specification and budget as part of the US$4.8bn investment at the Woodsmith polyhalite project." - http://tinyurl.com/ydhdec8k

In your post on 20 December 2023 at 13: 11, under the thread "Next round of interviews", you said: "To anyone new here thinking whether to invest, if you haven't already done so, please listen to all the historic interviews, webinars, etc, on top of all the historic RNS material. At least from 2028 onwards I would suggest."

That's one approach but I will be adopting a different approach. Following the recent announcement of JAY's new strategy, the Disko project will become the company's sole focus, with other six assets to be sold off. Consequently, my approach to researching in the future would focus more on the Disko project specifically, and battery metals generally in terms of the bigger picture. I will therefore be studying all current and historical RNS announcements plus past industry, academic and governmental work (e.g. GEUS) on Disko. I will add to the list here here podcasts/video presentations on Disko and also all publicly available information on Nikkeli Greenland A/S, the company that owns all the Disko licences, and is owned 51%:49% by KoBold Metals and JAY.

I will be looking at Disko with my attention focused on two factors: (a) Management of the project and (b) Geological and asset value factors (grade, tonnage, M&I Resource, etc) once the drilling campaign gets going. Under the terms of the current JV, the overall control of the project rests with KoBold (the majority owner of Nikkeli Greenland), thus the key decision maker, with JAY performing the role of field operations manager. This arrangement will change when a major miner joins the project. So, I will be keeping a lookout for any development on this front as well.

Torreaguas and IvRoche - It was neither speculation nor assumptions. I am sorry I am unable to add more, best to wait for news from JAY.

I started this thread simply because I thought the RNS raised more questions than answers. I had five important questions arising from the RNS, one of which was to do with the Disko project. Following the RNS, I did some digging and managed to get answers to all five questions. I will, however, deal with just the three in this post - one of which is the Disko project - which will be the "sole focus" of JAY in implementing its new strategy. I am presenting the answers using a certain style and carefully selected choice of words for a good reason but the underlying message is there for all to see.

1. If you are wondering about the timing for the next update on the details of the next strategy, you will not have to wait too long. Look out for news in early 2024, probably in the first week of the new year or thereabouts.

2. For those who think there will not be a 2024 field program for Disko, you might very well think that; I couldn't possibly comment. Moreover, there could be a twist in the tale when the announcement comes out but let's wait and see.

3. From now on think, Disko, Disko and more Disko! The other assets will get sold off, it will be fine.

Http://tinyurl.com/34pmfked

Yes, ChirpyCheep, I have got my wish about Disko but the devil is in the details. So I am now keenly waiting for the details.

"At Anglo American UK he (Troy Whittaker) was responsible for ensuring the delivery and execution of the mine site development to the required programme, specification and budget as part of the US$4.8bn investment at the Woodsmith polyhalite project."

I hope it won't be long before we see Troy Whittaker purchase a meaningful quantity of shares in JAY.

http://tinyurl.com/ydhdec8k

In the note I posted on 30 November 2023 at 16:29, I raised these questions: If he (RE) doesn't (deliver), what then? Would his position become untenable? That would depend on how major shareholders react."

I had a good reason for raising those questions because I try to keep an ear to the ground and I was hearing some noises from the ground and that's why I referred to "major shareholders". I was therefore not at all surprised to learn from the RNS today that RE has been replaced. RE is history now and good luck to him with his endeavours.

For me, the RNS raises several questions and I am expecting a follow-up RNS soon which would make things clear on the details of the new strategy and also importantly the plan for progressing Disko. After all, The RNS says Disko is going to be the sole focus of the new strategy.

In the note I posted on 14 December 2023 at 19:08, I said: "As things stand, JAY is a HOPE share. My BIG HOPE is Disko (forget the other assets)."

PS: I am ever so glad Eric Sondergaard is back, now as the Managing Director. I did know that he had fruitful relationships with KoBold Metals.

i am re-posting this note i posted yesterday addressed to katamensia (now using the moniker catwithamnesia). after posting, i asked the moderator to remove the original post and the repeated posts because of a glitch.

~~

thanks, katamnesia, for your comments. i was tempted to address some of them but decided not to as they have been previously rehe****d here a few times. that said, one particular comment by you pricked my ears when i read you say: "in fact (kobold) is considering the pros and cons between the 49/51% and the cash spent in something not certain."

did you offer the above comment as a matter of opinion or did you base it on an element of reliable information? your use of the words "in fact" intrigued me, hence my question. i must say i did take particular note of your comment in your post on 14 dec 2023 at 16:04 where you said: "i won’t disclose my background and won’t get into much detail."

we may not agree on all of the issues to do with jay but i genuinely value your comments since you present them intelligently.

ps: you say: "at the moment it looks more plausible to have a gold rush in river thames, i think." (unquote). as it happens, we live just a few minutes’ walk away from the banks of the river thames that runs along hampton court palace. so, i will certainly look out for any gold rush and will be the first one to report back to you if i see any activity!

~~~

catwithamnesia – i wonder whether you can answer my question in para 2 of the note.

Very interesting post, CWA, in particular your comment: "Many small details were bad in the management, abusive. This crested (created?) a negative aura over management and actually jeopardized the integrity of the board. If things go fine, hopefully...people will consider that as an accident. "

I took the above comment as an oblique reference to the KoBold-JAY relationship. Please correct me if I am wrong. Two "visible" events from the past bothered me in this regard:

1. Reversal of the 2022 Disko drilling decision within a matter of few weeks after informing the market.

2. An interview with Bo Stensgaard was published on YouTube on 9 November 2021. The interview was taken down almost immediately. I was lucky enough to have watched it before it disappeared and took notes. I published my notes on Michael Walters' bulletin board. Bo made reference to KoBold in the interview.

PS: I will attempt to guess your background. You are a geologist!

Take a look at the "Key Terms" - https://tinyurl.com/3kaed9tz

I am so sorry for the repeated posts with formatting going haywire, my apologies. I have requested the moderator to remove the repeated posts.

"We are pleased to have completed our first drill programme at our Finland project safely, ahead of time and on budget." - Jonathan Owen, CEO of Metals One

https://tinyurl.com/c34f3kcu

NB: JAY owns 29.98% of Metals One (62,500,000 shares).

KatAmnesia - In your post on 9 Sep 2023 at 12:43 (under a different thread), you made a comment and I wanted to respond to it but forgot. This is what you said: "My only request as shareholder is: give me a timeline. Something like: 2023 prospection, 2024 implementation of production, 2026 full mining production. No Bs, just simple and honest talk."

You have made an important and valid point and I Agree with you 100%. On 12 September 2023 (just a few days after your comment), I contacted Rob Edwards and conveyed to him the very point you have raised plus one other:

1. Any failure to fulfil expectations raised destroys shareholders' trust and confidence in management.

2. Timely and effective communication is just as important.

Concerning (2), I pointed out to RE that none of JAY's projects has a timetable for the delivery of the key events and commented that the absence of such a crucial piece of information for investors can't be regarded as effective communication, especially after numerous equity Placings by JAY to raise capital. I then added that the absence of such information raised the question of whether management did not possess the necessary confidence in themselves to come up with the required information to give confidence to shareholders. To illustrate my point, I then shared with RE the corporate presentation (dated July 2023) from Amaroq Minerals Ltd, Greenland and commented to him that if Amaroq Minerals can produce a project chart, with a timeline, surely JAY can also do the same. Click on this link and see slides 9 & 10  - https://tinyurl.com/5kxjpvck

I must add here that even when we thought Dundas was at an advanced stage of moving towards production, JAY failed to produce a project chart, with a timeline, for the key events. Looking to the future, however, once the strategic investor is in place for the Finnish assets there is no reason why JAY can't produce project charts, with timelines, for these assets for a start.

Not only do I speak my mind here (whether it is positive or negative about JAY), but I also take up matters directly with RE. What I want to see happen now is that the two points I have raised with RE are put into practice in how JAY is managed. What I desperately want to see is a new JAY, not the same old JAY.  After all, we are in this together and want to see JAY succeed so that as shareholders we are rewarded for investing our hard-earned money in the company. Not too much to ask, is it?

Thank you, Hemo, for posting that article a couple of days ago. However, for some inexplicable reason, it has disappeared -  so I am reposting the article (1st link below) but also offering a few comments.

The article says KoBold has projects in Canada, Zambia, the US, Australia, Greenland and South Korea (see my comments below regarding the projects in South Korea). KoBold also plans to explore in Namibia and the Democratic Republic of Congo.

Some posters here are of the view that if KoBold wanted to drill at Disko in 2024 we would have heard by now and that’s because KoBold's major focus is its flagship copper project in Zambia - which means Disko will not get sufficient attention. What supporting evidence is there for this view? Let's look at some facts:

1. The JV with KoBold has two stages. In 2022, KoBold completed Stage I on time and as per the terms of the JV. In fact, they spent more money than what was contractually required under Stage I.

2. The 2022 fieldwork produced promising results. KoBold have come up with 9 new strong targets, in addition to the known targets.

3. Stage II will need to be completed in 2024. The field season does not start until June. So we are waiting for news of the field program for next year. Going by what happened in 2022 (details of the fieldwork were not announced until March of that year), an update could come any time during Q1 2024. Just because we, long-suffering shareholders, are in a hurry does not mean we ignore the facts.

My second comment is if KoBold is so focused on its project in Zambia, why would they go and sign another JV agreement recently? And what’s more, it was with a tiddly junior miner at that (2nd link below). So, again, let's look at the facts. As recently as November 2023, KoBold signed a two-stage AUS$ 7 million or US$ 4.7 million earn-in JV agreement with the junior miner Iondrive covering 5 lithium projects in South Korea. In comparison, Disko JV's total contractual spend is US$15 million (Stage I: US$3.4 million; Stage II: US$11.6 million) but KoBold have already spent well over the US$3.4 million Stage I requirement). Iondrive's market cap is AUS$ 5.3 million or £2.8 million. The Iondrive JV agreement spans over 5 years. If KoBold has time for a tiddler like Iondrive to help them with not 1 but 5 projects, I would say they probably have time for an asset like Disko. I therefore say that letting impatience take leave of one’s senses is not the best way to look at a situation. A better way is to pay at least some attention to the evidence. This means, inter alia, one has to take the trouble to do at least some basic research. For the reasons I have shared here, I am willing to be patient.

https://tinyurl.com/3mnn4s2a

https://tinyurl.com/3a5pubrw

KatAmnesia - You ask so many questions:

"In case the prospects of a huge discovery, do you think that a big player wouldn’t just put 100 million deal on the table for 51% of a JV?"

"Anyone knows about any big mining company saying anything?"

"Anglo has concessions around Jay-Kokold…any feedback on their drilling results…if they are really doing it?"

I am almost tempted to say the short answer to all of your questions is 42!

There are more questions than answers - https://www.youtube.com/watch?v=Niw-Pq5G-mQ

Hemo - I chose my words carefully. I said: "As things stand, JAY is a HOPE share."

If Dundas had been in commercial production earning revenue I would not describe JAY as a HOPE share. As for the strategic investors, I don't underestimate their importance because without them JAY would become a dead duck

Thank you, KatAmenesia, for your reply. Since everyone loves unsolved mysteries, I will readily accept 42 as the answer!

As things stand, JAY is a HOPE share. My BIG HOPE is Disko (forget the other assets). So, I am HOPING for two BIG things to happen in 2024:

1. An extensive and meaningful drilling campaign at Disko.

2. Assay results from the campaign confirm that Disko is a globally significant Ni-Cu-Co discovery.

If (1) and (2) were to happen what might be the share price? I won't say 42!