I suspect Kobold are carefully controlling PR on Disko right now. That article states 30 geologists, geophysicists, cooks, pilots and mechanics are currently camped at the site where Kobold and Blujay are searching for the "buried treasure", with CNN being the first media outlet with video of the activity happening there. Often reported wrong this way as a direct investment, but it gives a good story, so I'm happy with it! If you listen to the video (see Erric's 11372 post below) they do actually state correctly the investment route later in that video article. Posted at 08:40 by perfect choice Its KoBold who are ploughing money into Disko under the terms of the JV agreement, the billionaires are invested in KoBold either directly or through their investment arrangements. There is a Voxmarket interview with John Meyer on the 12th August where this was mentioned as he spent a few minutes talking about JAY, among other subjects of discussion. RM has moved on now as well, he has new interests to pursue, the JAY BOD can now focus of mine development as much as exploration (which was RM's primary interest), so I actually think RM moving on will improve the focus JAY needs to moving Dundas into production.Īlso, that demerger idea previously announced in June this year I believe is now gone so will not happen. Just mentioning to highlight there are multiple factors that can impact on the completion of construction and so operational commencement at Dundas. So by the time JAY is ready to order early 2023 the problem should have alleviated further. But from what I am seeing in my business, the problem while creating longer lead times, is slowly getting better and there is greater capacity being created (but that does still take time) as well to address. I have a slight concern on long lead time item procurement timescales where automated equipment are dependant on microchips, where there is a world wide supply problem right now.
But as far as I can tell, the focus is all there to progress what is required and we will see the start of construction next summer season 2023. It's been a delay nobody wanted I'm sure and has in effect delayed Dundas by 2 years, so certainly frustrating for share holders and other stakeholders. This is actually the first time JAY have had the chance to do the additional field work required for the Lead Arranger. So its only been until this summer 2022 that anything meaningful could have been done at Dundas due to Covid restrictions. But then Covid happened and the lock down started in March 2020 stopping anything happening at Dundas. JAY were actually due to start DFS work after SRK had completed the PFS and it had been submitted (this is mentioned in JAYs April 2019 RNS) but that would have only been for a few months left of the summer 2019 season, so the plan would have been to complete in the 2020 summer season. There are a set order of events to happen here, never mind nobody back in June 2019 was expecting a pandemic to occur, when the initial PFS was published then submitted also in June 2019 to gain the mining/exploitation licence, which was subsequently awarded in December 2020 as you say.
Posted at 22:44 by perfect choice Exactly P&C, JAY are getting on with Dundas as required and right now that comprises of the additional work required to meet the obligations of Global Investment Bank as Lead Arranger. Posted at 07:17 by aimmafia If you havent looked at #CGO then you really should, 200-300 percent upside very near termCurrent Share Price: 7.5pTarget Share Price: 30p in Q4 when 2nd offtake agreement lands and we are earning $10million a year from 1st offtake.Offtake 1: 10,000 tonnes per month of washed coking coalSale Price: $120 Per TonneRevenue: $14.4 MillionEBITDA: $9.6 MillionReserves: 1.6 Billion tonnes Met Coal / Thermal Coal ( company can run for centuries )Offtake 2: in discussionAlso CGO has its Initial Modular coke Battery due to be installed in Q4 which will create even more revenue and expecting another offtake agreement to land for this also! Production will be up to 40,000 tonnes per year of raw coke with huge margins creating the below figures but I am expecting coke prices to go up even further.Modular coke battery will produce once installedMargin: $300 per tonneEbitda 2022 with module coke battery- $19.5 millionPE of 5: $100m Market Cap aprxPE of 7: $140m Market Cap aprxIn 2023 a further large battery will be installed and adding a further $45million Ebitda per year creating rough market caps of:PE5 $285 million Market Cap 2023PE7 $399 million Market Cap 2023This is obviously excluding value of gold asset and also hugely increased coking coal and coke prices.
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