Member Info for IvRoche

Why do you think that?

Life is too short to get so angry Angelis, you'll give yourself a heart attack - see it wasn't that hard to correct your ambiguous statement - well done you.

You wrote something ambiguous... You got called on it and your immediate response is to resort to insults - real mature chief.

Really gold is going into production? That's news to me and probably most of the people on here.

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Looks like we need some Wolf of Wallstreet treatment on Jay...

Ashton: "Would the addition of a major miner be regarded as "NEW ENERGY"?"

I don't think it's a major miner at this point because of where they are... They just had a major clear out of the old guard (and dead wood) who were drawing pay cheques and not actually doing anything to advance the company. Bringing in people in key positions aligned to the new one asset direction would be more likely IMO but the again - who knows - as we don't really have any elaboration of the strategy and still no sign of an Eric interview.

True none of us know what is going on here which adds to the drama of this board.

To your point on drilling 2024, we have the Eric comment and we also have the RMc comment from the LinkedIn post around looking at drilling options at Disko - that's what makes me think we are drilling this year. If we don't drill and get an adequate strategy with actual milestones - whatever is left of my miniscule amount of faith in management will disappear and this one is in the bottom drawer.

And therein lies the difference between the two options. "Funds could support" - realistically Disko wouldn't be fully permitted for atleast 8/9 years - I don't have the figures to hand but between drilling to prove up the resource, PEA, PFS, FS, Permitting etc etc it would cost mid to late 10s of millions -> Any stake Jay retained would be diluted and diluted over and over. I'm addition, while you put down your preferences for management -> we could very well end up with an analogue of current Jay management.

Re: My option is more akin to a Turquoise Hill type option. A major, i.e. Anglo, takes out Kobold and a chunk of our slice (no further dilution and no additional financial commitment / obligations for Jay). Plus to your point: the major would then be answerable to actual shareholders and would be seasoned at taking projects forward.

True but then again I don't think mgt actually in our best interests plus once "Nikkeli Plc" is IPO am sure there will be the typical cap raises that will dilute out holding down unless we maintain (we probably wouldn't have the cash to maintain).

A listing of Nikkeli Greenland A/S in my opinion is a huge huge stretch - unless the maiden drill program at Disko yields something off the ritcher scale. However, we are not there yet on confirmation of a drill program, I still believe it will happen this year - but the should get on with it.

Back to the huge stretch listing of Nikkeli Greenland A/S. Jay management have stated they are a single asset company and are disposing if other assets - so Jay would only have 49% of Nikkeli (Disko) and no other assets and then would list Nikkeli - Jay shareholders would get even more completely shafted than we are at present - holding shares of Jay with zero assets and a diluted shareholding (due to listing) in Nikkeli (Disko).

Best scenario, from my perspective which is also a stretch but probably better for shareholders, maiden drill program in 2024 and potential program in 2025, assuming assays are good (grade and tonnage) - Nikkeli (Disko) asset valuation is substantially increased - Jay dispose of a proportion of their holding i.e. 24% (leaving them with 25% and agreement of no ongoing financial commitment) and Kobold do something similar or just exit completely.

This means Jay retain interest and exposure in Disko with no financial obligations, have enough capital to develop an asset within whatever is left of the retained portfolio.

Lol...Jeez LWHL - it's pretty safe to say none of us are satisfied but no point selling.

Fair point on cash runaway, but based on last cap raise and sacking a tonne of people - safe to say we have about 9-12mths runway.

Have a good Easter.

LWHL: re: sale of assets RMc stated himself in the interview that he did not expect a quick process and would likely take many months to complete. Expectation of any news re: sales is likely from June onwards not before.

Ashton: All fair points, I largely was aware of already, however while they can announce whenever suits them but still have to give 1 months notice to the Greenland BMP - I think it would be a big mistake taking a risk on leaving exploration drilling late as they run the risk re: bad / lack of day light limiting operations. The expression make hay when the sun shines springs to mind.

Greenland BMP Link Below:

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://govmin.gl/wp-content/uploads/2019/09/Rules_for_Fieldwork_and_Reporting_regarding_Mineral_Resources.pdf&ved=2ahUKEwid5M_A35eFAxVRQUEAHQ6fAWYQFnoECBQQAQ&usg=AOvVaw2Dk3ImEa6TLqaesuMtlxu9

Daily Satellite Imager - Sea Ice Conditions:

https://zoom.earth/maps/satellite-hd/#view=69.67391,-53.41699,8.06z/date=2024-03-25,pm

The below is from June 2022. Granted costs have increased but as a rough guide excl. increased tonnage etc. In a normal market Kodals SP (market cap) should converge towards the 277m GBP (350m USD) which is ~3 times our current market cap the closer we get to production. Sit tight people its coming!

"The company described Bougoni as a “robust” development project, with key metrics including a 7% discounted net present value (NPV7) of $760m, compared to $293m in the original feasibility study.

Life-of-mine revenue was set to exceed $2.145bn, based on an average sell price of $1,060 per tonne on a free-on-board basis."

Looks.like we have broken through an SP support level. Excited for Ashton's update tomorrow. Hopefully he has some info from his various sources to share.

Nope no sign of withdrawals from JVs as far as I can find.

Although interesting that they have raised about $400m over three funding rounds (Mar 2019~20m, Feb 2022 ~190m and June 2023 ~195m).

They spend >$60 million annually across 60+ projects (assume from mid 2022) and committed to investing $150m Mingomba (announced Dec 2022).

Back of a cigarette pack calcs would tell me they have the cash on hand to fund their JV commitments for Disko but given how long it's taken to get an announcement, I think they will stick to contractual commitments this time (fingers crossed).

It's a good RNS, now steady as she goes to Q4.

Now they have certainty on the 65m Cap spend, am willing to bet they crack on with gold drilling at Niele and/or Fatou.

Ashton, you said it once back on 13 March that I can be bothered looking for :-). Why so cryptic, they only have until May to get the fieldwork schedule in - they should get their skates on.

Will we get a RNS next week before Easter or after... Timing stinks a little, imo, if not next week probably week commencing the 8th of April - fingers crossed. GLTAH

They have used Xploration Services before when drilling... The only mention of Bluejay and Xploration together is a quote about helicopter exploration services.

Not sure about AA but could be Amaroq...

Nanoq Exploration: Amaroq is now designing a 5,000m-10,00m diamond core drilling programme to delineate this significant gold target in 2024