Member Info for polkadotdoor

People are talking about it, because no matter how good Rob’s “plan” is, it’s relevant.

RE said they have a G&A burn rate of £900k a year (after layoffs and with salary reductions). That’s £75k a month and excludes exploration.

Incoming JV parters take the majority of the project in exchange for spending some money. Short term share price bump (aka Rio and Kobold), then you’ve seen what happens when the partner leaves or sits on their hands.

Firing Bo Stensgaard would probably give the sp a material bump. Otherwise they need considerably better results than those released today..

In big bold letters at the bottom:

Rob Edwards - Non-Executive Chairman.

Reckon he now has one foot out the door, and leaving things in the hands of Bo Stensgaard. Terrifying.

When does KoBold need to tell Bluejay their plans for 2024?

What if KoBold elects to sit at 49% and puts Bluejay back into the driver seat?

How does Bluejay raise the money to fund their part of the work, when their market cap is

Bo Stensgaard was appointed as CEO / General Manager in September 2018.

The share price was 17p.

Now 0.7p.

There is no limit to how low this will go.

RE very clearly states that KoBold still hasn’t decided what is going on in 2024.

Ashton - 7 posts in a row?

1) Bluejay is Field Operations Manager, so KoBold wouldn't need any man-power there.

2) Certainly Kobold would be actively working on a project which is on the verge of a globally significant nickel discovery?

3) Zambia is copper, but what about Canada? Their project in Quebec is adjacent to Ragland (Glencore), which is a nickel mine. Their other project in Ontario is nickel as well. https://www.koboldmetals.com/news/5-upcoming-mining-projects-creating-jobs-in-canada/

4) KoBold has already earned 49% at Disko. They seem to get an extra 2% by drilling before December 2024. If they don't, it appears KoBold stays at 49%? If that's incorrect, point to the RNS which says otherwise? - thank you for confirming. If kobold walks away, it would be incredibly unlikely that a mining major would opt to join the project.

5) They are "planning" 2024 "now", so surely they know the results from 2022 (and have for some time). Previously you disputed that results were available. Which is it? Kobold produces fast results better than anyone else? Doesn’t seem like they have a year long hiatus on other projects..

1) Bluejay is Field Operations Manager, so KoBold wouldn't need any man-power there.

2) Certainly they would be actively working on a project which is on the verge of a globally significant nickel discovery?

3) Zambia is copper, but what about Canada? Their project in Quebec is adjacent to Ragland (Glencore), which is a nickel mine. Their other project in Ontario is nickel as well. https://www.koboldmetals.com/news/5-upcoming-mining-projects-creating-jobs-in-canada/

4) KoBold has already earned 49% at Disko. They seem to get an extra 2% by drilling before December 2024. If they don't, it appears KoBold stays at 49%? If that's incorrect, point to the RNS which says otherwise?

5) They are "planning" 2024 "now", so surely they know the results from 2022 (and have for some time).

Ashton - "Using this high-tech array of software tools, the San Francisco–based mineral exploration company, backed by Bill Gates and Jeff Bezos, can change its airborne survey plans from day to day to more quickly home in on PROMISING PLACES TO DRILL."

Why has it taken them 12 months to get results from the 2022 program then? Surely this is known, and surely this has been shared between both parties. There was nothing bespoke in the work program which would require months of processing?

Their website says they spend $60M annually on exploration, so the fact that $0 was spent on Disko in 2023 is worrying.

If KoBold decides to walk away (with 49%), how does Bluejay continue to meet their exploration commitments?

No. These results have been available to the company since the 2022 work program started over a year ago. They even referenced preliminary results in their “program completed” rns from last October.

“Using this high-tech array of software tools, the San Francisco–based mineral exploration company, backed by Bill Gates and Jeff Bezos, can change its airborne survey plans from day to day to more quickly home in on promising places to drill.

It’s a far cry from how geologists have traditionally hunted for mineral deposits, which amounts to collecting field data and analyzing it when the exploration season is over.”

https://www.koboldmetals.com/wp-content/uploads/2021/08/2021.08.11-The-big-tech-quest-to-find-the-metals-needed-for-the-energy-overhaul.pdf

Kobold has a >$1Bn market cap based on their ability to rapidly process and integrate exploration data. There is no way it’s taken them 12 months to process the results from 2023. Zero.

Kobold has near unlimited finances, and Bluejay is “Field Operations Manager”. Kobold could simply just write a cheque and tell Bluejay where to dig/explore. This didn’t happen in 2023.

The sea ice excuse is BS. They would have needed to secure equipment for both programs months before they would have known the effect of “ice”.

Torched £1.3M in 60 days. How many days before £600k is gone?

CEO Bo Stensgaard is still collecting £200K a year..

Wow, Chairman Rob Edwards kicks in a massive £5k

CEO Bo Stensgaard does £0 ?

CEO is Bo Stensgaard

Chairman is Rob Edwards

Bo has been an Executive Director since 2019, how many shares has he bought?

Enonkoski so good that Rio is leaving without an ownership stake (despite earning in to ? %).

Now Bo will drill the same targets Rio didn’t want to?

Did those who participated in the funding know this was coming?

How long do they have to hold it?

That’s the only relevant question, as they’ll be raising money again soon with their current burn rate.

Gday.

I note that there have been no reductions in director salaries despite a precipitous drop in market cap. An executive at a 100m company and one at a 15m company should have vastly different take-home-pay (ie 0)

Why haven’t they announced similar initiative as they took in 2020 during Covid (RNS dated April 14, 2020), when all salaries were cut due to ongoing uncertainty? Bo Stensgaard seems to be getting paid more now than ever, without delivering on any front.

How many staff do they have and how many should they have for a single 1000m drill in August? They burn a shocking amount of shrimp on the shareholder barbecue. Can I get a job there? May as well join them.

Under the placing price now with no news inbound. Sacking the executive and board would probably see an immediate 20% uplift.

Kobold, who has raised millions on their ability to rapidly process/interpret exploration data in real-time, wasn’t able to process the 2022 data in time?

Wonder if they would agree with Bluejay’s statement here.. anyone of you blokes have a contact who could confirm/deny this?

What happens contractually if they don’t drill next year?

AGM date “mistake” is probably a purposeful attempt to keep people away.

Investor presentation from March says “Kangerluusak is ice free most of the year” (p13).

Same presentation puts Hammerslathi as it’s 5th most important project (now 1st). Just grasping at straws.

CEO has been an exec director since 2019???

AGM is June 30th

GM is July 27th

Can put you in touch if you'd like. Let me know how to reach you.