Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Cheshire – as you have stated you, and pretty much most others, are looking to Dundas and Disko as being the saviours for Jay.
Dundas we were told around 6 years ago was a great source of high grade Ilmenite that could be scooped off the beach. Some was scooped off the beach and 42k tonnes of it were shipped to the Rio Tinto plant in Canada nearly 5 years ago. What has become of that? It looks like it was so good no further interest has been shown. Surely if it was as good as we were all led to believe Jay would have had no problems securing funds to construct the required infrastructure to mine and ship the stuff. They've got the required licences and jumped through all the hoops. Why hasn't such a plant been built? Then most of the existing BOD made the chump decision to use the wrong drill (LOL) and trashed the idea of Dundas being profitable all together. Well now its back on again but are they going to focus on building the required plant and processing the sands to make some money? No, they are going to explore the shelf underneath all of the sands. Sorry, but that and the fact that no commercial partner appeared after the initial 42k tonnes was processed and that Rio subsequently pulled out of another joint venture with Jay makes me highly suspicious of the worth of Dundas. Rio know what they are doing and have seen the product and worked with the company.
Disko. Now Disko could be a huge source of valuable minerals – but what are the chances of JAY prospering from it? AA has plenty of its own ground to concentrate on and may have far superior deposits than Jay. The drilling in 2025 will reveal more – if it happens and Kobold don't get sidetracked yet again. If Kobold really do think there is such a fantastic supply there why are they delaying? Why are they more than happy to loose the majority shareholding? Just to save $11.6m? It just doesn't ring true. Jay will need to raise more money to see it thought to 2025 and that doesn't include the extra money it now needs to find to pay for its share of the 2025 drill – more dilution beckons. What news between now and 2025 will cause Jay's share price to rise? Eric's chat was useless, news of re-instating Dundas didn't do it nor did the news that drilling was to go ahead in 2025. John Meyer's little piece was ineffective too and the BOD's greed at giving themselves millions of options at such low prices didn't help matters either. I see this flat lining or dropping between now and the drill results, which will be when? 2026? If you can foresee anything else suddenly appearing that may cause the price to rise I'd like to know what you think it may be.
Good luck with your investment – hopefully it'll be better than the winter barley crop for you.
Ashton - some nice quotes from Kurt – but here's some facts to put them in context and to aid whether or not they have any credibility at all.
24/3/22 announcing that drilling would commence at Disko in June'22 – Kurt said, 'We're proud to partner with Bluejay to begin exploring Disko-Nuursuag this year. Fully electrifying the global economy is our generations' greatest challenge; to accomplish this lofty goal we must accelerate our efforts to find the key elements for EV revolution'. On the same day JAY announced a fund raise – how convenient was that? Get some news out and tap the shareholders again. But alas, despite Kurt's quotes, within 3 weeks (11/4/22) the plans for drilling in '22 had been scrapped and delayed for another year. Would Jay have raised that money if they had stated the drill had been planned for '23? Doubt it. Who decided not to drill as announced? My guess is Kobold as they were distracted elsewhere – sounds familiar? Kurt, you mislead us.
What happened to the 'we must accelerate our efforts' Kurt? Kurt and his team have recently decided not to hold up their end of the deal and will now not be spending the $11.6m that they agreed to spend on drilling. Needless to say further drilling is now delayed for yet another year – 2025. That is, if they don't change their mind yet again.
Kurt's statements and actions are definitely not a reliable indicator on which to pin one's hopes on - as his previous comments have shown.
Cheshire – not sure I'd take any comfort at all in knowing what RM's shareholding is, in fact the exact opposite. Did you see the news issued 6 days ago that Apollon is planning to delist? See Apollon's RNS of 21/4/21 wherein we are told that RM has increased his holding to 213,306,161 so he held 28.5% of the company. On 12/5/21 he acquired more to take his holding to 29.05%. RM was appointed as NED on 12/1/22. Other than a transfer of 10m of those shares (Sept 22) I can't see any RNS advising that he has disposed of any of those shares. But as we recently established, he chooses not to inform the authorities of such notifiable dealings within the required time scale (of 2 – 4 days) so he may well of disposed of some or all of those shares months ago and failed to inform the authorities.
Assuming he still has those shares they were priced at 4.75p each on the 21/4/21 (having peaked at 10p in March 21) but the share price now sits at 0.055p – a fall of 99%. So a company with RM as a director and as one of the largest shareholders (if not the largest) looses 99% of it's value and then delists - hmmm, makes you think doesn't it?
Cheshire – thank you for your reply. You seem to think that anyone writing disparaging comments about JAY is ignorant of the risks when investing in the AIM, has lost a lot of money on Jay and hasn't the noggin to possess a diversified portfolio – that's a rather naïve and unimaginative opinion you have of us / me. As I've already posted, my trades in JAY have fortunately left me in profit and I possess a diversified portfolio of equities (some for growth others for dividend), investment trusts and bonds. These investments are also global and by no means not limited to the UK. After nearly 40 years of investing I am very familiar with the risks.
The reason I post is that I like to see both bull and bear opinion. I've accrued a lot of knowledge about JAY and it continually moulds my opinion to be extremely bearish. I repeat – it's a s##t company run by a s##t BOD that doesn't give a s##t about shareholder value. Until JAY pull something out of the hat (rather than talk utter bs) I cannot see my opinion changing, they have an uphill struggle to make good all the past poor management, missed targets, misleading news and dire share performance before anyone will believe that they are a good investment. Oh, and let's not forget all of the other companies where RM has screwed over shareholders, pre-covid so that excuse can't be used.
I think there's some money to be made trading it as they are masters of bs news and creating shares price rises when they've run out of money but even that's proving harder for them as everyone is wising up to the fact that they are useless and repeatedly proven to be destroyers of shareholder value.
Spot on Cat - there has not been any rebuttal of the FACTS that have been aired by any doubters. Instead wishy washy posts saying the bears should give it a rest and a balanced view is required. We are posting the balanced view, prior to that there was nothing but perma bull posts, while the share price dropped 97%.. No wonder Ashton has stopped posting says Cheshire - indeed, he has no factual arguement to counter the FACTS that are presented. I'd love a balanced board, as I've said I like to see the bull and bear case but what is the bull case right now? Nothing. Nothing at all. Jay might sell some assets, Jay might do a drill, Jay might partner a major, Jay might bla bla bla bla. The fact is Jay is a s**t company run by a s**t BOD and like every other company that RM has been involved in share holder value is of absolutely no consequence to him / them despite the bs that they release.
EnuffRMbs - history shows RM plays fast and loose with regulations, perma bulls or rampers will come up with a myriad of excuses to explain away such antics. But you can be sure that any of the big boys or institutional investors will take a dim view of such flagrant abuses of market regulations, and they'll probably be only too aware of RM's antics and his covert reasons. Would any reputable company risk it's own reputation courting such a wheeler dealer.
EnuffRMbs I wasn't sure of the FCA regulations for disclosure so have just looked it up. See below. RM sure does appear to be acting in a very unscrupulous manner (to put it mildly). What's that Skippy - Ganga can cause memory loss, ah, do you think that will be why he forgot to make the notifications for 15months
As soon as possible and by midnight within 2 trading days (UK issuers) or 4 trading days (non-UK issuers) of knowledge of disclosable event
Well spotted - what a sneaky snake oil seller he is. So that's when he sold after his resignation 6/9/22 but failed to notify until some 15 months later on the 7/12/23. No wonder I couldn't find an RNS anytime around his resignation - he kept it quiet. Naughty. Announcement of purchase back above the 5% limit issued on the same day some 13 minutes later also illustrates RMs questionable antics. Buys shares on 14/9/23 but doesn't announce it until 7/12/23 (the same day that his sale some 15 months earlier is announced).and then within a fortnight we are told he has rejoined the company on the 21/12/23.
Zinky - are you sure you've got that right? RM resigned on 23/6/22 - I cannot find any sale listed for RM immediately prior to or after that date. The last I can find is when he sold up 20m shares at 14.5p on the 4/1/21 - nearly 18 months prior. The only sale / buy around the date of his resignation was another large sale by HSBC and an additional purchase of over 5% of the company shares by Sandgrove on the 8th June 22. I think you are mistaken and RM didn't sell his shares - he purchased 10m shares (less than 1% of the company shares) on the 22/12/23 and that took his total holding to 6.61% of the companies 1,195,885,079 shares. If he sold his shares on his resignation (and Sandgrove bought them) as you state when did Rod buy the other 69m shares?
Enuff
What's that Skippy? Your stoned? Have you been at the Ganja again?
Apollon is based at Bramhill's company location in Jamaica - Doc's Place, Negril. Some great reviews on FB ;-) for this tourist Ganja hot spot, which is pretty much all it is. No wonder Rod is a fan. Really doesn't appear to be a medical centre lol. But then I'm not as stoned as Skippy.
Link to ganja tourists' magazine article
https://tinyurl.com/ku94ejrj
Funny how the rest of the world doesn't consider Oil & Gas to be environmentally sustainable. Seems like the board of JAY think it is - either that or they're just so use to saying whatever rubbish they can get away with in order to keep the show on the road and their salaries flowing. My guess is that it's the latter.
Came across this little snippet. In 2021 (while RM and ES were there) Jay stated about Kobold
'..... as being a credible and reliable partner that shares OUR COMMITMENT TO ENVIRONMENTAL SUSTAINABILITY.'
Hmmm, JM doing a chat with Justin the clown - is that a fund raise I see coming sometime soon? John M isn't interested in being factually accurate, he's interested in trying to push the sp up to facilitate a fund raise at an sp higher than it is now. SP Angel (for their services) will be paid in JAY shares - they'd like to see the sp higher so they can sell those shares into the inflated price - a price they will try their damnedest to pump up before they dump. They do have a track record - apparently selling their entire holding into the rise created by the farcical 44p target they conjured up. It's so very transparent and predictable.
A light-hearted post (with no reference intended to any person, living or dead). RNSs as they should be
G'day cobbers. I'm really pleased to announce our latest scam (edit - sorry I mean scheme) I was beginning to think this company was a dead dingo but me and my good mates have come up with a bottler of a plan. We'll do another fund raise and say we need more money to put in place a bonzer plan to buy out Kobold's share and to progress work with a company called White Flame Energy to explore for O&G. We're all sure none of them pommie investors will work out our existing connections to WFE. Strewth, we've got away with so much in the past this little beaut is sure to succeed. We just love the pommie market – we can get away with loads of scams (edit - sorry I mean schemes) and not only do the regulators do nothing but those pommies keep giving us their smackeroo.
Apparently those drongos at Kobold don't like our new plans and something called business ethics – they must be right flaming galahs, me and me mates always make a mint from the companies we run. Kobold will sell us their share for $1 - we might keep that to ourselves, then me and my cobbers can get some big beer tokens out of the fund raise. Bonzer.
As Ailean has said new O&G exploration in Greenland has been banned, the chances of Bluejay or White Flame (or anyone else) successfully exploiting O&G in Greenland is virtually zero. There's no way RM and his shameful posse don't already realise that but they are attempting a ramp of Bluejay regardless. Trying to squeeze every last cent out before it all implodes. Plenty of companies with deep pockets have been there before and walked away - eg, between 2010 - 2014 Cairn spent around $1bn and others have also tried their hand already.
I would suggest that RM and his crew will not succeed in the short time they have until their licence runs out in 2027 - other far better funded, staffed and experienced co.s have failed in the past even when the appetite in Denmark was open to O&G exploitation. Only mug private investors are ever going to fund such a farce, any one with even the merest knowledge of the situation will not want to partner or fund Bluejay on it's newly chosen path. Might, as ever, be money to be made on trading the spikes but long term this is going to zero.
Good read here -
https://tinyurl.com/mt4zxrjy
Oh, and how about the relationship with Kobold, which I reckon is going to be terminated anytime soon. The news today more or less confirms it in my opinion. BreakthroughEnergy was established with the sole intention of helping to drive the planet away from fossil fuels - working with a co. that is proposing to develop fossil fuel production in a such a clean and unspoilt territory like Greenland simply does not match their agenda. Goodbye Kobold, and goodbye Bill & Jeff of course :-)
Dear oh dear - are they scrapping the barrel or what? This really does look like an act of desperation - none of their schemes have / are working so what pretence can they cook up to persuade suckers to invest? You can imagine RM's chat with the depleted BOD and now miniscule team of experts. We desperately need money and the news of rekindling Dundas hasn't shifted the sp - what else can we do. I know, helium and hydrocarbons, that should sucker a few more punters into investing. They're hoping investors will ignore the fact that they haven't really got enough money to progress their other plans so will need masses more money to explore, licence and progress these new options.
Had a very quick response to the question; the remaining 25% of Wudinna is costing £260,050 in cash and the issue of approximately 52,010,000 new ordinary shares in Cobra at a price of 1 pence per share. I'll take that as good news as I was expecting it to have cost them more, it certainly reduces the likelihood of another fund in the very near term.