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Beowulf Mining Share Discussion Threads
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|Thanks for posting the video blade. Kurt does not look at all confident around the time he is speaking about Kallak. Body language is not good. Lots of looking down to the left and right as he talks about it.
I can't see more than a couple of million pounds of cash on the balance sheet by now given the year end cash position and the SEK10m raise. The market cap is £50m there is a very large risk here if Kallak is denied given the very early stage of the other assets. Virtually no downside protection.|
|Any markdown in price this morning should present a buying opportunity to start some earnest and forward-thinking stake-building. What price BEM if all the licenses were granted?|
|I'm airing on the side of probably getting the licences (60/40) has it would have been easy to just say no and get it over and done with but got a feeling that the government is making sure that Beowulf has a airtight case and has dotted all the eyes and crossed all the tees to make it easier for the government to say yes with some restrictions and also saying that that is why it is taking so long to come to the decision
|I disgagree with the comments, I believe it will be granted. Kurt must have given Asa the heads up prior to releasinng the RNS when he met with her last week.
The EIS is bullet proof and meets all the legal requirements, they can't say no. If they do then I have no doubt Kurt will pursue legal action.
This news is also worth noting:
|Sadly, I agree with other comments here today, and sold my remaining holding at slightly higher than today's price a couple of weeks ago.
I also think chances of a successful legal action in response to BEM's despicable treatment has also been reduced by Kurt's decision to invest in further Swedish assets since the application 1st went in - any lawyer would argue this was not a logical action if we truly felt aggrieved by our treatment from Swedish authorities.(I'd previously commented that the fewer Swedish assets we had the happier I'd be).
Induna, can't tell you what to do if in your shoes, but can't see you getting anywhere near as much as 5p, were the licence not granted.
Good luck everyone!|
|You gotta agree that if permission hasn't been given by now it's nit going to happen. They've had the same info for ages.|
|Not until their taxes start to rise and then realise they have an abundance of natural resources which they can earn a packet out of no matter how loud the greens and tree huggers protest|
|What a mess the Swedish govrnment is in and as far as BEM is concerned it is now 3 years and still no licenses............will there ever allow the land to be developed?|
|Reading the last few posts i'm beginning to feel nervous about this now. I don't like 50/50 odds. If they don't get the licence then no doubt the mm's will slap this back down to 5p. may have to take a few off the table|
|steeple - absolutley, which is why he has done all he can (and continues to do so) to engage with them and the jokkmokk community.|
|If you talk to Swedes,they hold the Sami and their reindeer herds in common affection.That's the problem and that permits these bureaucrats to endless shuffle back and forth.Its an emotional thing,environment v nasty polluting mining.It really wouldn't matter if Kallak North was a hundred kilometres from Laponia,the greens would still be kicking up a fuss.|
|Superb RNS, well done Kurt. Exactly what was needed, no doubt with input from his Swedish Advisory board they believe their case is bullet proof - wouldn't be surprised if he has lined up legal action too.|
|Induna123 is like most councils or government offices no one wants to put their head above the parapet just in case it all goes wrong and the blame falls at their feet so it's easier just to keep pushing it from one department to the next|
|Good statement by the Company.They've got to push the onus back on the bureaucracy to make a decision otherwise these jobsworths will keep the review process going on and on.|
|I am still a very small shareholder and I am not slagging off the business. What I have said recently is fact.
Kurt turned the company round and the market sent the shares up and I doubled my money for the second time. However, the board has been stuffed up by a Swedish government and eco worriers and it should come as no surprise to shareholders as to what has happened when institutions get involved.
Now 50%+ of the shares are owned by the Swedes so really they are the ones who should push their government in to making a decision and if they do then I may buy back in to the company.
Lets leave it at that for the time being........|
|23blade knowledge is power and the odd post by an ex-shareholder isn't too bad it's when they come back day in day out slagging off the company once they've sold|
|anley, why are you posting if you no longer hold shares?|
|and more dilution at a price well below the current one as the broker can screw BEM and its directors..................3 times this has happened since Kurt took over.|
I have no doubt that Kurt has sourced the best consultants to deliver a knockout EIA that money can buy. To be fair he'd be neglecting his fiduciary duties to do anything less. BEM is a £45m market cap company and the license is make or break for them. There is no way they'd have cut costs on this.
There is also no way on earth that any email from Kurt will have an ounce of negativity in it. He'll remain optimistic of a positive outcome right up to the decision. That's his job.
The other thing to note is BEM needs funds for other ventures in Finland. It is imperative that they have a backup plan if things go pear shaped at Kallak. They'll have to raise money to do this and therefore now more than ever you'll get positive noises out of Kurt.|
|loglorry, good post. However you missed a few importants points, Late last year BEM announced a Swedish Advisory Board by appointing Mr Per G. Broman and Mr Jan-Olof Hedström. If you look at the CVs of both Broman and Hedstrom,they are very impressive. Broman with 40years experience and put our EIA together and then comes Hedstrom a past CHIEF Mine Inspector and Head of the Swedish Mining Inspectorate for 14 years. I would say this is significant and increases the chances of a YES.
The other point is the MI and CAB have given their backing before, KB is very confident their application is water tight in respect of EIA and meets all of the requirements.
Email reply from Kurt to me below:
Thank you for your email.
The Mining Inspectorate is in charge of the timeline; go with what the Mining Inspector has said.
We continue to be responsive and direct to requests for information. We will not be holding up the process. We are not messing around.
I have always said our EIA is comprehensive. It has fully assessed the effects of planned operations at Kallak on the surrounding environment.
We will continue to make a robust case for the award of a Concession.
|It is very common for a resource company to deflect from their main asset when it starts to fail by finding a new dream to pin hopes on. I've no idea if Kallak will be permitted or not but I don't think by any means the situation is as straigt forward as BEM say. They say they've been compliant with everything and ticked all the boxes. However if so why is the license not in the bag. The move to Graphite mining suggests they need a new horse to back should it go pear shaped at Kallak and thus this must be a distinct possibility.
They acquired the graphite license for peanuts and thus we can only assume that's what its worth. If it was suddenly worth millions with a bit of exploration then it would have been explored by now. In such a well developed part of the world these sorts of stones don't remain un-turned.|
|You might well be right anley.Its always been presumed that the Swedish Government are happy enough to give the impression that they're business friendly.Yet I wonder whether they don't slyly encourage these environmentally concerned reservations from CAB etc so they can wash their hands at the end of the day and say,"oh well we tried".I think the chances of a licence being awarded anytime soon are 50:50.I think the company's push into Finland suggests as much albeit management would declare otherwise.|
|I warned about this many months ago so if any one wants to read my past posts then go back 8 or more months.
I valued this business at half the current price but many carried on buying and now after nearly 3 years there is still NO licenses. Nor will there be for many years as the Swedish government does not seem to want mining for the time being.
In the meantime the directors will raise funds for the payment of saleries and overheads and the current shareholders will be diluted again and again......
Don't be fooled by grapfite.........this is not going to be turned in to graphine so have a look at VRS to see what I mean.........
Soory if I offend some of you but the truth hurs and this share is not one I hold anymore.|