Member Info for HereforHemo

Master many thanks. I too bought last week at 7.67 and 7.68. Could only afford 129,000 but hope to add in the weeks ahead. Should be a good quarter ahead in my opinion.

Ashton probably wise to take a break. I think there's likely to be a little more pain in the short term whilst the new management sort out the mess they've inherited. Everything now rests on the KoBold drilling plan which i hope starts in May, and the results they publish hopefully towards the end of this year. I believe asset sales will be difficult and probably at a fraction of previous valuations, but certainly enough to take them through 2024. Sadly I think all short and medium value has disappeared but long term value for Disko has a very good chance of coming good, imo. I'm sticking this in the bottom draw with the hope of coming good later this year and beyond.

Threat not treat.

I think the biggest treat at the moment is running out of cash. Whilst I think they'll be OK for a few months I just can't see them being able to sell any asset in the current climate, although they could by offering something cheap, which would be all they need for this year. Think Ashton might be right that KoBold don't announce anything until the end of March, rather than this month as I'd hoped. I just can't understand why they would have added a single line on the single focus on Disko without a KoBold announcement, an asset sale or at least a strategy document behind it. A very painful hold at the moment!

Enuff why would Bluejay have already announced a single focus on Disko if there was any doubt kobold weren't going to drill? Wouldn't make a lot of sense to say the least. Besides what's KoBold being able to earn a majority stake and control of the asset by drilling got to do with a shareholder selling 2% of their large holding? Very strange logic if you ask me.

Also worth noting Eric Sonderguaard was willing to come back as MD and he has 12.9m in share options due to expire in just over a year, between 10-25p.

Iv it's my understanding there won't be any fund raise anytime soon, certainly not at this price. They had enough cash until the end of Q1 and that was before they had substantially reduced their burn rate. As for why people are selling, could be a multitude of things, taking profit from recent lows, financial pressure or simply rainbow chasing. Personally I'm happy to continue to hold and wait for the upturn on KoBold drilling and asset sales. Each to their own.

The problem with Bluejay at the moment is the uncertainty but it could well become an opportunity. If they were to sell 5 of their assets that would still be a substantial amount of cash for them. You never know, if that were to happen and they were offered the chance of a JV on Dundas they may well go for it.

Personally I'll be very surprised if we don't get an RNS this week outlining how they intend to progress with their recently announced strategy.

Iv yeah, on reflection doesn't make much sense. Just clutching at straws trying to think what Ashtons 'twist' is lol. Think now the only way they could bring Anglo in is to change the structure of the JV to give them majority control, but I'll sit back now and wait and see what happens.

I'll go for option 5, that KoBold do indeed drill but sub contract the work to a major, either BHP or Anglo American

I don't buy the fact Bluejay would use the excuse that it's an inhospitable and costly environment to mine, especially with Denmark or the European Union willing to partially fund the project. It would also appear that you can process it and mine it, and the grades are commercially viable on whatever metric you used. What is baffling is the fact they progressed it so far before deciding not to proceed with it, even in a JV format, which it's clear they won't from the last RNS which announced a sole focus on Disko.

Although I haven't lost as much as some investors (although I'm substantially down myself), I'm afraid we have to accept the situation as it is and move on. As I see it there are two positives to take from the current situation. One is they are obviously very excited about what they (KoBold) have analysed at Disko which WILL be drilled extensively this year, in my opinion, and two, it would appear they have a highly saleable asset (one of many) that should provide all the money they need to take Bluejay through 2025 and beyond.

I expect an RNS next week to expand on their latest strategy. I expect KoBold to announce their findings and drilling strategy shortly after, and various asset sales to follow after that. All should substantially enhance the share price, at least in my opinion.

Also if I'm right about the 10% that would mean KoBold spent close on $11m on Phase 1, which is close to 4 times the amount they were contractually commited to spend, which is what i thought.

Iv That figure fits my thinking as I'm sure I read somewhere that we get around 10% of KoBolds spend as revenue, so I would hope for slightly over that amount in Phase 2. With a vastly reduced burn rate plus asset sales to come we should be in good financial shape this year.

Thanks Ashton, I'd prefer it next week as not really a fan of Friday RNS's. One other question to you if you don't mind, am I right in saying Bluejay will receive around $1.1m in revenue from KoBolds Phase 2 committment? Thanks in advance.

Ashton I take your point on Nikkeli Greenland, apart from it being a big plus that they could raise capital. KoBold have no real limit to the funds they can raise and surely Bluejay could fund ongoing work from their asset sales? As an aside, do you think the new strategy will come out next week? Personally I don't know why they announced the single focus on Disko when they did, with no substance behind it. To me they could have announced that alongside a new strategy, so you would think the strategy document has to be released sooner rather than later?

Although a newer investor in Bluejay i too am surprised and slightly confused by what happened there. Judging by Bluejay's statement on solely focusing on Disko I would think Dundas would fit nicely into Alba Mineral Resources portfolio and hope they offload it for a decent value soon.

To date I think the maximum number of workers we've had at one time at Disko is 50. However, with KoBold scheduled to spend nearly £10m drilling this year, or 15 holes, with the short drilling season it's going to equate to a £2m per month spend. That to me is going to require foreign workers to be brought it. Bearing in mind it takes three months for visas to be approved in Greenland, it means they are going to have to be submitted early February at latest for a May start. Therefore I'm convinced we'll hear details of KoBolds drilling program this month, although personally I'd love to get the Finnish assets sold, at least in principle before KoBold release their findings. As ever I'm extremely bullish for Bluejay this year, especially with copper forecast to rise by 35% this year. Think the metals market will finally turn bullish this year.

Apologies. It won't post the correct link. Ho hum

Https://www.lse.co.uk/share-prices/indices/

Funny its 4% some places but 12% on Hargreaves and on the attached. Doesn't matter either way, it'll rise soon enough.

https://www.lse.co.uk/share-prices/indices/