Beowulf Mining Share Discussion Threads

[anley] 31/10/2014 14:30

CARADOG.........so what you are saying is not in the best interests of BEM?

[caradog] 31/10/2014 11:15

Anley - the new govt is weak and needs the greens, which means it needs to avoid a very public conflict with the Sápmi and environmental activists in the North. Its interests would be better served by a takeover of the bankrupt Northland mine, e.g, by LKAB, which would be very popular locally and would ensure continued production at a mine that has already been constructed.

[anley] 29/10/2014 10:00

I think I am concerning CSP but I have been thinking about Fred the so called ex-production director who went very quickly...........I wonder why?

With the change of government in Sweden - a sprinkling of Greens in it - the final decision on the licenses will be made by central government. With a mining industry that is important to the country I get the feeling from my Swedish contact that it will be favorable but we will not hear until early 2015. If it were to go against the company there would be a huge inward investment backlash resulting in political problems for the new government and the country- hence the delay while the political parties seek advice.

In the meantime a little option money - 2m shares - have been bought under 2p in the last few trading days....good to see this as it keeps the interest alive.

[superslob] 24/10/2014 12:03

Moderately good news today - no additional people brought in and appointed to the 2 roles, thus further draining BEM funds. Clearly, this is very much secondary to the mining licence for which today is IIRC deadline day for our comments to MI re CAB's decision.

Anley, hope you're right about CSP!

[anley] 24/10/2014 10:07

WAKE UP all we have a new boss.................which now leaves the unanswered question "when does CSP leave" my bet is at the end of the year which is BEM's year end.

All this leaves the shares at 2p still as option money. All the new management can do is to go through the books look at what capital is needed to obtain all the required licenses and only then can the company look to get going again with drilling in Spring 2015.

There is not much more than can be said at this stage except to hope that there is enough money in the kitty to carry on with what I have mentioned above.

[anley] 16/10/2014 09:26

Thank you for your post it can sit there as a reminder to all shareholders as to what you thought of CSP.

[anley] 15/10/2014 15:48

You are right and he will go in the end..........

[reggie123] 15/10/2014 14:46

A snippet from the Monty Python "Norwegian Blue" sketch...quite an apt analogy to BEMThis company is no more! He has ceased to be! 'E's expired and gone to meet 'is maker!'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies!'Is metabolic processes are now 'istory! 'E's off the twig!'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisibile!!

[anley] 14/10/2014 18:25

Yes and the next to go should be the NON executive Chairman with a salary saving too as he just can not run a business based in Sweden from some where in Ireland - that does not work.

He just does not serve shareholders interests correctly in my view.

Now we do need to know what the payments are going to be for the NEW BOYS - can we have a statement please OR should the brokers who seem to be running the show with our large shareholder tell us?

Can we also know what staff is left in Sweden and what the costs are for running the business?

[superslob] 14/10/2014 17:04

Anley, your letter re BOD salaries could be achieving the desired effect, going by today's RNS!

[anley] 13/10/2014 10:22

London Mining is full of debt .V. BEM which has none but will run out of capital by early 2015 and will be forced to close its business until normal conditions prevail.

Could the board tell me what is the point in offering pocket money to the new directors? What it is telling us is that they have no way of pulling the business around by sacking everyone.

The capital raised last month should be spent getting all the licenses in order including the Mining one so the whole of the company can be offered as a clean shell to a third party.

What Glencore has said recently about iron ore needs to be studied by the board as there will be no prospects of this company ever becoming a production company with the current board and advisers. It was Glencore who crushed London Mining and now we have Billiton and Rio who will smash all the other small producers over the next year..............

I have said it once and will say it again this is an OPTION money share as the value is now in the quote and not what is in the ground..............

[steeplejack] 09/10/2014 09:33

London Mining is a cautionary tale.

[steeplejack] 08/10/2014 12:47

There's an interesting article in this week's Investor Chronicle.It states that Rio's CEO Sam Walsh expects around 125m tonnes of iron ore production will be withdrawn from global markets by the end of this year,roughly equivalent to the annual output of the world's fourth largest iron ore miner,Fortescue Metals.The article does say however that the environment is pretty tricky for iron ore miners in the development stage and mentions factors weighing on West African Minerals currently running the slide rule over the potential profitability of its prospects in Africa.

[caradog] 08/10/2014 11:47

Agreed. We are now facing a cull of expensive producers, witnessed by London Mining's statement today. Deep pockets are needed in the mining industry, only those who survive the slump will be around to print money when prices recover.

[steeplejack] 08/10/2014 11:25

That's the cyclicality of the business.Supply will diminish and equilibrium will return,some years off perhaps.There are a lot of exploration companies who are in no hurry to reach production.Survival of the fittest.

[caradog] 07/10/2014 16:39

Northland announced today it was halting operations and giving most if its staff notice. If they can't get the finance when they have a functioning mine with established transport, what chance BEM at these ore prices?

[aries2000] 06/10/2014 20:07

all gone after the massive deramp

[aries2000] 06/10/2014 19:11

People have opened a short on this share that is why they are so desperate to keep the price from rising.

[aries2000] 06/10/2014 19:10

The derampers had a field day here

[bob310] 06/10/2014 18:14

I hear that BEM may pipe line the ore to the rail site and therefore there would not be any transport problems.

[superslob] 06/10/2014 17:36

From above....''NSD have read large parts without finding anything concrete to support neither the County Administrative Board or Jimabs interpretation''

Considering how pro-Saami/anti-BEM they've been so far, I think it's reasonable to assume they put more effort into trying to find evidence to substantiate CAB's position than ours. The fact they haven't been able to do so is encouraging for BEM IMHO.

[bob310] 06/10/2014 16:49

Fred Boman :-

"County Board is not following the law. It feels Jokkmokk Iron Mines (Jimab) by reason of that authority last week avstyrkte company's application for a mining concession for iron ore deposit in Kallak. - For us it is obvious that the provincial government has made a departure from the law. It amazes me that the governor set up and comment in the media because he is not an expert on the issue, said Fred Boman, Jimabs president. - I'll have to counter that, and say that Boman is not an expert on what happens when we take our decisions. The opinion has of course been preceded by a deep preparation of our officers. Because it is a big and important issue, it was appropriate that I express myself, and I am also well-read. Kallakfrågan requires proper direction finding, says Sven-Erik Österberg. The focal point of criticism is that the county administrative Jimab not clearly explained how the ore will be removed from the area. "There are four alternative ways and we have no idea which way to choose. Hence we do not know either what the consequences are for the reindeer, which is in strong connection to Laponia World Heritage status., We believe that the transportation routes will impact the area significantly more than the mine, "said the governor, Sven-Erik Österberg to NSD last week. - If you read the Minerals Act so it is given a clear bill of fare at what the Environmental Code to be considered in a mining concession. The provincial government should consider is if the area where we should have an industrial park and a mine is suitable or not. The issue of transport routes for ore coming in at a later stage, when the Land and Environment Court to review the case. We had been able to completely omit this in our application, said Fred Boman. Who is right then? On the Mountain State's website is the document "Guidance for review of mining operations." NSD have read large parts without finding anything concrete to support neither the County Administrative Board or Jimabs interpretation. The formulations are broad and difficult to interpret outright. And Bergsstaten do not want to dispel the mists yet. - We have an opinion. But I will not speak about it now, says Linda Ylivainio, lawyer at Mountain State. Jimab currently performing a detailed transportation study that will form the basis of a study by the Swedish Transport Administration. It will later clarify which route is most appropriate, and what the consequences are. The case goes to the government (see box) is Fred Boman clear. - If the mining concession is not approved we will send it there." hxxp://nsd.se/nyheter/jokkmokk/solklart-avsteg-fran-lagen-8785574.aspx