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Https://www.thisismoney.co.uk/money/investing/article-12959183/MIDAS-SHARE-TIPS-UPDATE-Mining-firm-Amaroq-Minerals-proves-mettle.html#i-4d6a75757ead5604

"Brokers believe the company will deliver nearly £9 million of revenue in 2024, surging to £56 million in 2025 with profits of £11 million. "

I wouldn't be surprised when Amaroq would acquire the Thunderstone license from Bluejay mining (JAY)

Currently that company is a complete mess and they will likely need to sell assets

Thunderstone license is very close to the Nalunaq Goldmine: https://media.licdn.com/dms/image/C5612AQFHyhGK6fgoFA/article-inline_image-shrink_1000_1488/0/1587038371367?e=1708560000&v=beta&t=HYSkR5lwHMwgH4X_5SUzDkcxapznL6RoelAzKfLtcWc

I think this management would have stayed when there was any positive on Disko....

Managed to sell at 0.58. Can't win em all

Good luck everyone

"Mr Stensgaard will remain as an employee of the Company"

What a joke

Going to close my position here. RE was my only hope things could eventually change.

What a Sh**show.

I guess this also tells enough on KoBold Disko project

I think the chances are bigger that before the Holidays we'll see a -90% YTD Share price decline over a positive news release.

Yes Ra11adw2 management must be held accountable in case they do not reach their targets. "In the next quarter" excuses aren't acceptable anymore. Look at the shareprice YTD performance.. Is 900K G&A justified for this ??

RE mentioned in September that he was expecting a KoBold update. This is long overdue now and I wonder why it all takes ages. Bluejay management should push for an update to close 2023 some positives... Or can we expect a kitchen sink job ?

Looks like they're finished the job . Now waiting for a nice end of year update including Sava results

Well Ben, Management will be very pleased with an investor like you that moves the goalposts for them

RE was expecting a Kobold update in October....

Bluejay shouldn't start planning with anything before an announcement. Instead they have to keep the pressure on KoBold to come up with an update as soon as possible

Also what do you mean by employing people? I'm not aware they are hiring extra staff at the moment

@benalder I don't see how Bluejay can start planning when KoBold didn't announce to move to stage 2

To my understanding a Disko Field season is from May/June until Sept/October. If KoBold wants to move on there is not much time to lose. Everything less than 6 months preparation is challenging

I am keenly waiting on RE to announce something.... I have marked wednesday 20 December as the final day for a positive 2023 NR to come in.

It's a common practice to release unfavourable news close to the holidays in the hope it fades away when peoples minds are on other things. Hope this management will not play a kitchen sinker.

Again the KoBold silence worries me. There is no guarantee they will move on to the next phase. An update is overdue and as someone mentioned before, a drilling campaign in Greenland takes lots of preparations.

The talks with 2 potential strategic partners are going on for some time now. Of course I understand this is a long process but it can't take forever. RE was expecting to close at least on of them in 2023 and ideally 2. That could indicate they are in an advanced stage of a potential deal process but there are still hurdles or doubts. normally extra time won't take these away.

Yes, and what concerns me is that there is still no KoBold drilling news while RE was expecting a update in October.

KoBold could easily help him out to announce a Disko drilling program in 2024. The conditions are already set 11.5M or 15 holes. Details of which holes can be brought in later

This did not happen so far and is woorying to say the least...

I also want to see RE succeed. But he (and management) must be held accountable for his promises on Strategic deals in 2023.

Here he is mentioning it is his TARGET: https://youtu.be/PYDTgcpEDkk?si=oUKe7o5e3JsQ6d5F&t=219

As for KoBold Drilling RE mentioned 3 month ago that he was expecting an update the market in October. See: https://youtu.be/8JYFqnI1_F8?si=hzYzB-3Dip1QAg1y&t=481 That's 2 months overdue now.

He needs to deliver something. a 900K G&A based on moving goalposts isn't acceptable anymore

Key terms of the agreement:

KoBold will earn 51% of the Disko-Nuussuaq licence holding through a two stage earn-in commitment

Stage I: Advanced geological and geophysical evaluation of Disko-Nuussuaq to refine drill-targets using KoBold's proprietary technology, $3.4 million sole-funded by 31 December 2022.

Stage II: Sole funding of either US$11.6 million in drilling expenditure or 15 pre-agreed drill holes within the Disko licence area by 31 December 2024.

Bluejay can maintain its 49% shareholding by funding its pro-rata commitment after Stage II.

Bluejay will manage field operations until 2024.

Should KoBold complete Stage I work but not complete the drilling commitment in Stage II before 31 December 2024, 2.0% of the JV company and thereby control will revert to Bluejay with both parties subject to continuing standard dilution methodology.

I think RE is a capable and experienced director that chose to work at Bluejay since he is seeing the enormous potential in the portfolio. A great portfolio.... but also an enormous pile of crap he has to handle.

Removing RE when he doesn't meet the strategic target won't help the company. It will mean that its back in the hands of BS which would be a reason for me to get out. As said before not meeting the target should have consequences on the G&A.

If He is not able to get the Strategic deals in this year. KoBold could help him to release a short message they will drill Disko in 2024 and that further details will follow. In case they want to move on with Disko its also in their interest they are dealing with a capable person.

Besides drilling results. Looking forward to the next Nalunaq updates. Good to see activity over there

Yes Hemo but at some point we have to draw some date to measure results. RE clearly mentioned 2023. With a G&A of 900K shareholders shouldn't accept "in the next quarter" excuses. Maybe it's not in their hands but in interviews they commited to this year end. A postponing of this promise should not be without consequences. (Or would you accept further dilution?)