Member Info for daramuda

Foxglove - in my view no company will make an offer for Bluejay's Dundas assets until the company has an exploitation permit - that should be granted by the end of this year.

As far as I am aware the company has the full support of its Tier 1 institutional investors of which there are several. Bluejay is no Sierra Rutile where Pala Resources had over 50% of Sierra Rutile and were able to call the shots - Pala were content to settle for a takeout price of Sierra Rutile by Iluka which many thought was too cheap.

Pala have no interest in Bluejay - I am pleased - I am a former Sierra Rutile investor. imo Bluejay is more valuable than Sierra Rutile and the take out price (although imo undervalued was including debt £250 million). There is plenty more value in Bluejay imo.

page 2 - attract Tier 1 investors and above all to deliver for shareholders. GL.

My sincere apologies for not answering your posts of yesterday evening but I am a professional person and have had two intense days at work.

I firmly believe that one must look at the two licences - Alba and Jay as separate entities. Just because Jay may have success with Moriusaq and Iterlak, may attract an off take agreement or two and may even be acquired by a larger company in due course (I personally do not believe before an exploitation permit has been granted but you never know) does not mean that Alba will benefit substantially from that scenario.

I do believe that there is possibly a trading position in that inexperienced private investors will say if X has Y and they believe that A has something similar in Y (without proper investigation and experience) they jump in expecting that they will profit. That I am afraid is a dangerous course and could lead to losses in the longer term.

I have already commented on why I believe that Jay's licensed area is superior to Alba's but let me remind you of a couple of key points

1. Bluejay had the licensed area that Alba now has. You will have to accept it from me that I know. I will not provide proof - you can believe me or not. I can tell you that it is fact. You could with some difficulty find a copy of the licence - it will take you a lot of time to do so but it is in the public domain.

2. Bluejay surrendered the licence - why?

3. Bluejay tested samples - the results were not that good but also

4. There are cliffs which make access difficult.

5. The area sea bound is a protected marine site - think walrus. That will interfere with a successful EIA.

6. The position of the Thule air base may lead to objections when it comes to the SIA and possibly EIA.

7. Alba has several licences - I would call it a scatter gun approach- and does not have the money to do what is necessary to advance the licence properly - please do not think that Baker Alba's competent person can deliver a JORC - it will need the likes of SRK.

8. Please look at what the Alba board has done with other licenses - e,g, Melville. The facts are already available.

9. Look at Mr Baker;s record as a director at Sula Gold - what if anything did he locate?

10. I believe that you are expecting too much from HH to help finance TBS; I believe that you will be disappointed. In any event (I have made this mistake myself with another stock where I accepted the loss and sold out) it is risky to rely on the success of one asset to support another - the only way is to approach each asset s an individual asset.

I have no axe to grind with Alba; I wish you luck but please take care.
Have a look at the detail about Bluejay's Disko licence. I would mention a private company with an asset in Gronland but that would muddy the waters but I do have a holding in that company - the Jay ceo is chairman of that company.I have confidence in his ability as a geologist,ability to develop a company, and attra

Rod McIllree is the Harrison Ford of quality ilmenite hunters. Have a good day.

I believe that I have already posted this but I am a substantial holder of JAY but have no shares in ALBA and doubt that I will ever have.

In answer to Rambo's specific question. The ALBA TBS licence was owned by JAY but discarded by JAY. There is no doubt about that.

The quality of ilmenite in the ALBA sands I believe to be far inferior to the purity and consistency in the JAY sands - a reason why the Alba TBS licence was surrendered by JAY.

There are in my view other problems for ALBA. 1) Off shore the licensed area is a marine protected site; thus it is unlikely imo that ALBA's licensed area will pass the EIA criteria; I understand that the area is a walrus breeding ground just as in a northerly direction away from Alba's licence the area is a protected whaling preserve. 2) as I have said the quality of ilmenite in the Alba sands is far inferior to that of the sands at Moriusq and even more inferior to those at Iterlak. 3) The Alba licence has steep cliffs bordering the sea thus reducing accessibility; time spent on google earth may well help 4) whilst the board of JAY have done wonders to get to the position at which they have reached, on the smallish budget from which they have worked, the cost has not been insubstantial. In my view Alba cannot hope to proceed without a similar expenditure and that can only be achieved by raising considerable funds via placings (not just the £750K and £800K raised this year); in that respect do spend time looking at the significant holders of JAY on the JAY website and you will; note that there are some well known Tier 1 investors. I understand that Rod McIllree the ceo has their full support.

I think that it is a big mistake for anyone interested in investing in Alba to say to themselves a) Jay have a large MC b) ALBA has a small MC c) Jay has a large resource (proven) d) ALBA has a resource which although unproven is cheap when you compare MCs and thus must be worth investing in.

I do not wish Alba holders any harm but I do not think that you have necessarily researched all the angles as much as you should. GL anyway PS look how many shares Alba has issued compared to JAY.

I have never held stock in Alba and have no intention of buying in and so your assumption is incorrect. your lack of knowledge about the Qaanaak sands is obvious .

Good L*rd - have you also done no research? The south west Qaanaak beaches are closer to the air base than those that Bluejay have - another reason why I doubt that Alba will ever get an exploitation licence.

Bluejay HAD the Alba licence but surrendered it; the ceo and team have a long lasting relationship with the authorities. It has sweet zero to do with what you suggest.

The board of Bluejay headed by a geologist fully knows and has known what it has. I would not personally rely on the information concerning Qaanaak on the Alba website. Yes I know where it is but thanks for posting it.

I do not post other than out of complete sincerity. Do not concern yourself but I have done a great deal of research. I learned by my mistakes of the past that there is no substitute for research.

The sands in the areas south west of Qaanaaq are inferior to those at Moriusaq and Iterlak. Access to the beaches is less facilitating than the beaches for which Bluejay has a licence.Are you aware that the area off SW Qaanaaq Booth Sound is a marine protected site.? I believe that Alba's management will be very hard pressed to persuade the authorities that it passes the necessary criteria for an EIA.

Alba generally has many irons in the fire and insufficient funds imo to do complete anything fully unless it issues billions more shares.

Krul - you have summed up your position as I see it. You are looking on TBS as a punt. I do not see investing in anything as a punt. And fwiis worth, I do not play the lottery, the horses the dogs or the tables. I suppose I am a bore.

You are very wrong.

The sands on Alba beach are far INFERIOR to those on the Moriusaq and Iterlak beaches and to say otherwise is imo misleading. The licence which Alba has is the same that Bluejay had but was REJECTED by Bluejay. I would be surpised if Bluejay did not have those sands TESTED before Bluejay surrendered the licence.

Also it is MISLEADING to argue that Alba are one season behind Bluejay. Has Alba got the necessary financial resources

You are either ignorant of the reality when you make statements like those made by you but whether you are or you are not, you are playing with investors hard earned on this subject.

I am a holder of Bluejay and so I am perhaps a bit more lax about the scenario; on the other hand I can understand your view. SPA are brokers to JAY but JAY brought in Hannam last year as joint broker. Greg K was until recently a non exec of JAY. The connection is still OK. It is possible that because GK was a director of JAY, GEO appointed Hannam.

The point really is this that Hannam are M & A specialists. I can think of at least three alternative reasons why their appointment could be relevant. On my analysis each is positive for GEO shareholders.

Found it artyth - apologies earthling. John Meyer's comments are fair comment especially since his firm SP Angel are corporate broker let alone Nomad to the company. His remarks do not affect my personal view.

Thanks artyth. I will try and source it.

Earthling - I have gone back to 21st May on Vox and cannot find a negative report as you suggest by John Meyer. I could be mistaken.

If there is one please let us know when he posted what you suggest, and if possible post the link. I am a subscriber to Vox which, as we all know, is free.

Thank you to ericeric for posting the link on Wednesday which I would recommend to all participants of this thread. A listen has allowed me to have a better understanding of the steps to be taken; I was under a misapprehension before. First infill drilling then metallurgical test work the mining and production agreement and subject to agreement on financials with JV partner Feasibility Study.

I previously thought that the study came before the mining and production agreement.

I am just doing my best at adding 2+2 and not doing a Diane Abbott. I may have come up with 5 after all!!

I agree with you that we have a good geological and mining team. It seems that one can add diplomatic skills to that appraisal.

Artyth - reread the final sentences of the section headed "Outlook" and you will find that there appears to be criticism of the previous drilling programme.

You may be right that copper does not feature as a priority from what the new management is suggesting but do you really mind from what metals the company makes shareholders money and for what it is worth the government and the local community?

I think that we have in Neil O'Brien, Mike Struthers and Simon Cleghorn experts who know what they are doing. I do not wish to criticise Greg Kuenzel who is no doubt good in his field but he is not a geologist nor master of mines.

Provided that there are no political problems and why should there be if the company provides employment and income, we shareholders can look forward to very happy times. We will see.

I am with you on this but I would add that to have a PDA (production agreement) with the JV partner the parties need to understand as far as possible what resource and potential resource they are dealing with and the costs of extraction treatment etc The process leading up to a PDA is likely to take a couple more months as I stated over the weekend. I am however bullish of prospects. cashout - not wishing to have a go at you and I have no right to stop you posting but did you not tell this bb that you had sold your shares?

A brief summary of the presentation referred to by some is that both the new chairman and new ceo gave their views about the JV the jurisdiction and progress. They are comfortable with the jurisdiction and gave details of how they have blended with the owners of the JV company and local miners. Greg Kuenzel is now fco, They are moving towards a DFS and once everything is costed as I recall for a BFS they intend to complete a production agreement with their JV partner. That makes sense if you think about it because without knowing more about the resource and being to cost production costs the boards of each of GEO and the JV partner. The presentation which took place at the broker's office a few weeks ago disclosed that the PDA was four months away so say now 3 and a half months away. In the meantime they are drilling and we should have the results of that drilling in the next few weeks. This is a resume of what was discussed, does not include every detail and is based on what I recall; there may therefore be inaccuracies. The chairman was super pleased with the resource. Finally the chairman and CEO realise that they must improve the share price and are aiming to have it back to 25 pence as soon as possible. I guess that will come as a) the free float reduces - there are only 115 million shares issued and there are at least two large private investor holdings and b0 with the release of details of the result of the current drilling. I hope that helps.Whilst all must DYOR I would class the stock as a buy.

Thank you very much for this.

fellas. If anyone feels able and has the time please expand on comments.