Member Info for IvRoche

@polkadotdoor - How about you do some research and post back your findings and related links (you haven't been reliable or credible even quoting RE)

In your research of "Disko drilling issue", please establish what type of drilling was previously deployed i.e. Rotary or were they using Diamond Core Drilling? Hopefully you know the difference between them.

Stage I is complete and Under Stage II of the JV, KoBold is required to spend US$11.6 million on drilling related expenditure or drill 15 pre-agreed diamond drill holes within the licence areas by 31 December 2024.

Rob Edwards Oct 06 Disko:

"Kobold believes there are targets there, under the current agreement they have to drill 15 pre-agreed diamond drill holes or spend $11.6m on drilling related expenditure and that expires at the end of 2024."

"task number one for 2024 season is deciding what we do at disco how we progress that.....

we are all on the same page that the opportunity warrants more cash in the ground and ultimately it needs to be drilled"

Additionally: Kobold have committed to drill Disko which is the big one for us LTHs. If Kobold wanted an exit after they effectively take control (51%) then Anglo-American is the likely bidder as they own all licenses around us and could consolidate the entire area / jurisdiction.

If the entire Finland portfolio (Enonkoski, Hammaslahti and Outokumpu) was up for a grabs by strategic investor through a JV (more than likely JV) or Farm in that would be a big bite out of Bluejay. Sorry Ashton, I can't see it happening on that scale - the risks are large as it's one hell of a swing for the fences.

Finland Projects:

Hamaslathi (Copper) - recent drilling confirms there is HG copper and potential follow-up drilling should take it to an MRE

Enonkoski (Nickel) - needs further exploration to identify drill targets

Outokumpu (Copper) - has 6 drill ready targets based on previous exploration

If the above 3 projects did get taken on by a major. Effectively, we would only 100% own Dundas (Ilmenite), Thunderstone (Gold) and Kangerlaursak (Zinc) before a second potential strategic investor potentially comes in for one or two of those projects. Given Disko is already a JV.

Economics: what price would a strategic investor committ for the entire Finnish portfolio; 50, 60m ?

Alternative view, I think it's going to be that big in terms of portfolio level (JV or Farm Out, afterall we have heard similar comments from Bluejay previously re: portfolio. I think, Bluejay will want to keep Hamaslathi and look to JV Outokumpu and/or Enonkoski - it's much less risky for Bluejay given our position. Re: Greenland - they should look to offload Dundas (even though I wouldn't like to let it go) and JV Kangerlaursak and potentially also look to JV Thunderstone.

FYI, the terms of the deal between Bluejay & Kobold is that they have to agree the drill holes - I wouldn't read too much into the wording on Hemos post.

Re: Major discovery, well, that will only being from drilling Disko IMO. We will get an SP bump on announcement and then will start appreciating as we get closer to assay results (all IMO). Securing one strategic partner this year is good and fingers crossed a second won't be far behind.

Well this certainly isn't a Strategic Partner (Supply Chain or Otherwise) IMO, so would think this is additive to the Strategic Partnership discussions - that we are waiting for an update on.

Yay, we get some free stuff for Hamaslathi and Outukumpu.

Does that mean Enonkoski is the strategic partner target in Finland - more than likely! 25 or so more days and we should find out.

IMO, this is REs biggest credibility test. If he delivers on both strategic partners, I will be pleasantly surprised. To be clear I am not saying he can't and convinced we will definitely get atleast one plus Disko drilling announcement (March 2024).

However, RaddalW, I think your target numbers are super optimistic and don't reflect market conditions. For example, if we get 2 strategic partners onboard - I would say 3-4p (afterall it depends on how much they are investing and I will say probably 30m between them so that 3-4p may be a little on the high side). If we get the 2 strategic plus Disko drilling announcement (March 2024) then we should get to 6-8p. Just my opinion, and hope your numbers are more right than mine.

Irrespective of some people's unrealistic expectations around data collection, analysis, integration, modelling and interpretation etc. The below is the key statement for me from the Disko RNS. Why? Two things, not only did it confirm what Bluejay already knew but it also identified significant other targets. The understanding of the entire Disko license area has been established in one hit.. All that's left to do is drill and I expect similar to the last, ill-fated RNS, it will be before end of March 2024 (assuming Kobold have agreed to drill - which they have apparently.)

"Geophysical surveys support existing targets and have identified new areas of interest:

o In addition to known targets, the Falcon® Airborne Gravity Gradiometer ('AGG') surveys have identified an additional 9 strong gravity (± magnetic) anomalies that may represent previously unrecognised mafic-ultramafic intrusions of comparable size to the host intrusions of many world-class magmatic Ni-Cu sulphide deposits."

If they could do all the below is real time - I would literally eat excrement...

2022 field activities at Disko-Nuussuaq targeted numerous areas for massive Ni-Cu-Co-PGE-Au bearing sulphides using advanced geophysical and geochemical exploration technologies, including:

o 3,030 line-kilometres ('line-km') of high-sensitivity fixed-wing Falcon® AGG, magnetic and LIDAR survey flown by Xcalibur Multiphysics, Canada.

o 2,115 line-km of high-resolution UAV magnetics surveys undertaken by EarthEx Geophysical Solutions Inc, Canada.

o 699 SAMSON deep-penetrating ground EM stations undertaken by Discovery International Geophysics, Canada in collaboration with Gap Geophysics, Australia.

o 1,068 line-km of HeliSAM airborne EM undertaken by Discovery International Geophysics, Canada in collaboration with Gap Geophysics, Australia.

o Three multibeam hydrographic bathymetry surveys totalling 37.25 sq km were undertaken by HydroCharting ApS, Denmark.

o 3,572 geochemical samples (comprising rock, soil, and stream sediment and heavy mineral concentrate samples).

o 60 rock samples collected for petrological studies.

o 134 rock samples collected for petrophysical analysis by EarthEx Geophysical Solutions Inc., Canada.

I think (I hope), those numbers are on the low end of what is possible coming out of the strategic partnerships. Yes, Kobold have to spend the $12m for their earn in but the others look a little light on my expectations. Both are likely earn in agreements over extended periods again for example Rio's Enonkoski was a total of a 75% Stake for 20m spend by 2029.

Greenland looks likely to be Kanger - assume atleast 20m for a 51% stake

Finland looks likely to be Enonkoski - assume another 20m for a 75% stake (same deal again)

Ideall, I wouldn't like to see Dundas sold but ideally also farmed out like the ones above 15m for a 51% stake.

Quick question were today's Assays the result all drilling conducted in 2023 at Hamaslathi or are we expecting some more results?

Eitherway, a solid start and if my maths is semi accurate looks like previous owners pulled about ~1.6 bn USd worth of revenue (using today's prices) out of Hamaslathi previously. More drilling required, all hinges on the strategic partnerships and the funding that will bring in.

They will drill next season imo, they have to prove what they have to the market (given the extensive work completed so far) plus they will want to maintain control of the company - the proof is in the pudding afterall.

Also, Bluejay would be crazy to accept a bid before drilling and assaying is completed on Disko. Note: there is a fourth option Kobold and Bluejay prove potential through drilling next season and sell a combined stake to a major miner for further development i.e. Kobold sell 26% and Bluejay 25% to a major. Then let the major develop the deposit (think Rio / Turquoise Hill type scenario)

Fair and balanced as always Ashton... People should be wary of UK law in relation to making false accusations... they can be held personally liable. Obviously, if statements made are backed up by actual facts then fine but conjecture and making misleading statements and accusations - people or groups should be very careful.

Bad news re: Dundas - heads need to roll for that one (RM went and so did the COO - Bo needs to go next).

Disko, based on the comments from RE all parties agree that drilling needs to happen "money in the ground". So that's a good piece of news we just need the drill plan for Disko which will come probably come late Q1 2024.

Wait and see on strategic partnerships 1 is good l, 2 would be great - and would atleast help the G&A spend for Bluejay.

Hamaslathi initial assays by mid October IMO, would expect the fact that they drummed up cash so quickly (albeit at a crap sp) to do follow up drilling that they got a decent look at the first drill core using handheld scanners and went for it.

All in all, I think that's all of the bad news out of the way and the decks are clear(er) but any management from the last BoD still hanging around should be shown the door.

Hopefully BMS is exiting the company - the guy is a liability.

I also picked up on the lack of Dundas information, but am will to hold fire until post the strategic partner update -> given the lack of information I suspect Dundas could very well be on the block and if they have been speaking with Australian miners Iluka comes to mind re: Titanium Sands.

Irrespective of the above, let's not miss the big elephant in the room... Kobold and Disko are in play for 2024!

I would push most of those August/ September ones to September - Jay is notoriously bad at delivering timely info. In saying that they will probably release something tomorrow ;-)

I wouldn't worry about a simple spelling mistake, most people on this board can barely spell or string a coherent sentence together :-) (myself included)

The newsflow for the rest of this year should be enough for a decent ride back up (assuming it's positive) The big one which is always the elephant in the room is Disko - Kobold release positive fieldwork and state they will be drilling in 2024 we are in lift off mode with turbo boosters on!