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Created By squiresquire | Read the whole conversation
you'll find a lot of people's not been prosecuted because of lack of Proof,doesn't mean they're innocent.... This is my last post on the subject. this is JAY a BB.
Sorry for offtopic
TW fan club been out in strength today I see, they don't like it when the mud is thrown back at them it looks to me.
IMHO he has a knack of taking a scenario and making it sound like a real risk. Good one was the cash burn of JAY and I think it was last Oct/Nov when he was mouthing off at a £1M a month cash burn to "imply" in "his opinion" a placing was on the way. The timing of this was also when RM was interviewed saying a burn of £140K a month and £11-10M will be left by end Q1 2019 i.e. now. TW made the mistake in my view of flat rating higher rate cash spend going forward due to the 2018 field season investment for the facilities now at Dundas. As I've stated before they only needed to spend that Capex once and next major Capex will be the main construction investment which will be subject to off take agreements secured. RM was right on the ball in the end at "greater than £10M" and funded through to Spring 2020 (this naturally excludes Dundas operations construction).
What TW has got right though is the expectations from JAY on timescales have been too optimistic (I don't rubbish 100% of what he says, only 99% of it!). The path to production can take many changes and no company can be entirely in control of its destiny, JAY have certainly shown that with a change in production approach ( 2 stages now including Quebec facility), and changes imposed on them like the 3rd year of EIS study requested.
Just one thing on this ongoing placing debate, I would actually expect JAY may have sounded out a few sources but not for the reason certain characters have claimed. The off take agreements may well include an equity element or cash funding element of the overall agreement, for which the cash funding may require JAY to discuss with potential suiters. That's not now to keep JAY going as that should have already been accepted as not the case (or those saying still can be accused of being liars), but to prepare for the exploitation licence and off take agreement activities in 2019. I'm much more relaxed about that stage and the potential need for direct funding JAY may require for the construction phase, on top of funding or shared revenue (say) commitments from the partners JAY will engage with, under such off take agreements.
After all the noise this week, the actual programme for 2019 is looking very promising, but would agree JAY really need to deliver the programme of PFS, EIA/AIS publications, exploitation license application, etc. Once the programme of events start to deliver, the sentiment will be a heading in a far more positive direction.
Just one last thing because I am not sure everybody is actually aware. The Capital Group fund is currently in the process of selling company shares where the market valuation is below £1Bn. This is because the fund manager has retired and the new fund manager has introduced this investment policy for the fund (just hope they issued a fund objectives update to fund holders for this!). It's actually affected many smaller companies I understand and not specific to JAY, so at some stage there will be a RNS saying Capital is below the notifiable threshold. Mentioning in advance just in case we get more bulls*t from certain characters. Think they're are down to 10M now or have cleared those off as well, know HSBC has taken a chunk so may be an RNS the other way in due course.
Tweeted By 1smallfry | Retweet
Well done Perfect Choice. It is good to see when people have taken their time to do the homework on subjects rather than just ask stupid repetitive questions, mentioning no names... Andy, Toyin, Jaknife and other Winnifrith / Align poodles. They are so lazy , paranoid and blinkered it is unbelievable
Perfect Choice29 Mar '19 - 18:40 - 5725 of 5726
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TW fan club been out in strength today I see, they don't like it when the mud is thrown back at them it looks to me.
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Come on, address the issues, what "mud" is being thrown at people here?
If you saw TW's comments about my criticism of another stock, you would retract your comment above!
When he's right I say he's right, when he's wrong, I say he's wrong, simple as that.
He's well connected, and I see even you are wiling to accept they might be considering a placing now, does that make you a member of the TW fan club too?
An excellent summary PC, except that I don't think TW made a 'mistake', I think it was a 'deliberate'. Likewise City, I'm not sure that lazy paranoid and blinkered explains it, but perhaps I'm just less tolerant and charitable than you guys.
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