News yesterday from BlueJay Mining (JAY) continues to underscore my view that the company needs to carry out an extensive capital raising exercise in order to progress on its Dundas field in Greenland. The word on the street is that it is sounding out mugs about a placing at 5p a pop.
We have warned you time and time again that Blue jay Mining, the stock promoted shamelessly by disgraced share promoter Old Mother Michael Walters and SP Angel's John Meyer on the basis of bogus "imminent" offtake deals was one to avoid like the plague. The shares are off by 20% today at 9.1p and, a reliable City source, says that investors are being sounded out about a material placing. But at what price?
There has been extensive coverage of Bluejay Mining (JAY) on this site, scrutinising many of the statements by the company and its disgraced principal cheerleader Michael Walters and also SP Angel, all of which have proved to be either outright fallacies or completely misleading.
There is extensive coverage on Blue Jay Mining HERE already and so I won’t go into the extensive issues of misleading offtake announcements, large stake holder sales, non delivery on many company time lines and shameless ramping by Old Mother Walters, John Meyer of disgraced SP Angel and others.
Please remember that i do occassionally lapse into Parody thus while the first few minutes of this podcast concern the nation's sweetheart and most talented chanteuse, my real concern is the scandal at Blue Jay Mining (BYAY) unearthed by today's RNS. I cover the role of shamed promoter Old Mother Michael Walters, disgraced broker John Meyer of SP Angel of the Mysquar (MYSQ) fraud shame and of course the company itself. There should be a full investigation and heads need to roll after almost two and a half years of the market being misled. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE
Following on from my article on Sunday on Bluejay Mining (JAY) covering the very large share sales that showed up on Friday last week, news came out yesterday afternoon confirming that the seller of a chunky 6.48% of the company's float (netting a cool £6 million+) was co-founder and long time Rod Mcillree acolyte Jeremy Whybrow. That should set more alarm bells ringing for the bulls...
Last week was "interesting" for Blue Jay (BAY) bulls and should give then pause for thought. If, of course, they are capable of rational thought.
It is becoming like groundhog day at BlueJay Mining (JAY) and the oft trailed "offtake agreement" that never materialises... Originally touted in early 2017, nearly 2 years later and despite much promotion by disgraced share promoter Michael Walters and John Meyer, the shameless head of research at scumbag Nomad SP Angel, there seems little sign of one for BlueJay's investors.
Yesterday saw yet another decline in the share price of Blue Jay Mining (JAY) and that has continued this morning. This is perhaps the biggest small cap mining promote seen in recent years but reality is starting to dawn on the mug punters as they consider the options the company now has going into 2019 absent an offtake agreement, EIA & SIA approval and the all important Exploitation licence.
When Gotham City published its now infamous report on Quindell, a copy of which was sent to the FCA and the Serious Fraud Office, it was OVER a year later that any action was taken and this despite a high profile campaign against it by Tom Winnifrith Shareprophets and, to a far lesser extent, Dan McCrum at the FT which, in the case of Shareprophets, included many specific allegations of fraud and open exhortations to the FCA to do something about it.
Back on 30 October 2015 long suffering shareholders in Environmental Recycling (ENRT) were promised a change of direction, a new beginning. Having seen its shares plunge from 150p, when it sent me a barrage of lawyers letters for pointing out that it was a total fraud back in 2005, to just 0.05p today the punters must have had some hope at last. But today Environmental ( formerly 3DM) fessed up. As disgraced Michael Walters who has tipped this piece of Turkish for 14 years and who told his readers to report me to the FSA for exposing the fraud, would say "oh dear, oh dear".
The recent volatility in the markets has been enjoyable to watch from the side-lines. That perennial bulls should be panicking and demanding federal intervention because the index retreats some 12% from its high after six years of straight gains demonstrates how reliant we have become on rigged stock markets.