Beowulf Mining Share Discussion Threads

[superslob] 08/4/2015 14:42

23blade, thanks once again for sharing the info.

Regardless of who makes contact, I think we do need to know why Budge seems obsessed with these lesser projects.

Even allowing for all his short-comings, I can't help thinking CSP would have tried to progress Ballek etc when our SP, commodities markets and availability of £ were more favourable, if there were significant value to be had.

So why now when everything's worse?

[23blade] 08/4/2015 12:07

Anley, why don't you email Kurt with your views? he is good at responding:

[e-mail]

[anley] 08/4/2015 10:57

That sounds encouraging but does the market believe him and why has Lanstead turned a seller?

The management is still going on about other projects and again I repeat myself - where are they as BEM has no capital to spend except on "de-risking" the company prior to a third party making a bid for the Swedish assets as a JV I believe is not in the interests of shareholders.

It would be far better to sell the Swedish assets and return a very large sum to long suffering shareholders and at the same time have a royalty income which can be used as a dividend stream, again for shareholders benefit.

That is just a broad brush idea but it seems we are not yet at the starting gate until the Swedish government makes it mind up..................so the company is still an option money bet!

[anley] 07/4/2015 12:45

and in the meantime Lanstead are the sellers...........and Budge told me and the shareholders how supportive they were......so who can be believed?

I agree with others that there are still more cost cuts to make including filing in the deepest cabinet all the other so called projects...they are a complete waste of money in these markets.

[buywell2] 07/4/2015 12:28

April 5, 2015 2:55 p.m. ET
''Iron-ore prices have continued their long decline from highs of $190 a ton reached in 2011, recently hitting a 10-year low below $50 a ton.''






ORM , and THR charts not much better than this



steeplejack 10 Mar'15 - 08:10 - 14718 of 14727 0 0

Placing (representing an increase in equity of just over 8%)to raise £350/- at 1.2p.It has a smack of desperation about it.This company should be put to sleep and woken up in a decade or so when the iron ore market has improved.That's probably what will happen in all but name.

[anley] 01/4/2015 14:17

Well done 23BLADE...........the old website just needed updating so bang goes some more capital!

In my bones and by keeping a close eye on the share trades I have a hunch that someone is building a small stake in BEM.........we shall see........

[superslob] 01/4/2015 13:54

23blade, thanks for the above.

[23blade] 01/4/2015 12:45

Email reply from Kurt

"Thank you for your emails this week and last.

I had a good trip to Sweden w/c 9th March, where I met with our Swedish advisory team and travelled to Luleå and Jokkmokk to meet with key stakeholders. I will be back in Sweden in a couple of weeks.

We continue to work hard for an early and positive decision by the Swedish Government on the Exploitation Concession for Kallak North, but there is no definite timing as to when a decision will be made.

We launched a new website last night, best viewed through Google Chrome, which I hope is seen as an improvement by shareholders and stakeholders alike. We will be adding more content in the weeks ahead. The website has a page where the Strategy for the Company is explained, and we’ve updated information on our Projects.

The placing was another step forward for the leadership of Beowulf, following all the changes that have been made to the Company since Bevan Metcalf and I joined at the end of last September. It remains a challenging time for junior explorers and developers, but we continue to make progress".

[anley] 24/3/2015 11:55

What would be helpful is an update from the new management on what happened in Sweden earlier this month.........see 23BLADE - 10 March post.

Since then more "discounted" capital has been raised but at least Lanstead have been diluted down to 23%.

So what happens next Mr Management?

[superslob] 10/3/2015 18:05

Disgusted by today's RNS - didn't we dispense with Lanstead because Budge himself stated so little £ was coming in as a result of that despicable arrangement? And then he raises £ at an even lower level, at a discount, without us being able to participate and without stating who shares have gone to, presumably knowing they'll probably sell ahead of the allocation taking place!

Had CSP done this he'd have rec a damn sight more criticism on the BBs than Budge has, and I can assure you my opinion of CSP is as low as everyone else's!

A lot of trust (and £) lost today!

[buywell2] 10/3/2015 12:11

buywell2 18 Dec'14 - 10:18 - 14662 of 14721 0 0 edit

buywell2 - 11 May 2013 - 11:17:51 - 14007 of 14453
Chartwise it looks like BEM's best days could be behind it

[23blade] 10/3/2015 11:16

And for info, Kurt is in Sweden all this week meeting with the Swedish advisory team to start work on engaging with key stakeholders in this next stage of the process. He said he is very focused on addressing outstanding concerns, but does believe the Company’s submissions to date have satisfied the requirements of the Swedish regulations.

He has assured me that getting an early and positive decision on the Exploitation Concession for Kallak North is an immediate objective for BEM and himself.

[sleveen] 10/3/2015 09:33

sleveen
2 Mar'15 - 15:50 - 14715 of 14719 0 0 edit


A placing cometh?

BEM are skint.

[anley] 10/3/2015 09:13

In essence you are correct but the test will come when we can examine all the board members at the AGM.

All this has done is give the company some working capital which gets the company set up as and when they receive the 25 year Mining License.

In the meantime the new shareholders at 1.2p have an option ride and can sell at 2p+ for a quick return. So no need to buy these shares at the moment until the clouds clear and we have some indication when the Swedish government will be able to make an announcement on the future of BEM.

That is how I see it..............

[steeplejack] 10/3/2015 08:10

Placing (representing an increase in equity of just over 8%)to raise £350/- at 1.2p.It has a smack of desperation about it.This company should be put to sleep and woken up in a decade or so when the iron ore market has improved.That's probably what will happen in all but name.

[23blade] 02/3/2015 16:12

unless they have a JV lined up

[anley] 02/3/2015 16:09

Tell us something we don't know please.

[sleveen] 02/3/2015 15:50

A placing cometh?

BEM are skint.

[anley] 02/3/2015 14:31

If you read the managements report they say that or hint that there will be little drilling but lots of paper work checking this and that......do you agree that means they can conserve cash for some months while they look for a deal or keep afloat until the economic conditions continue to improve?

They have made the point that iron ore prices will firm (not tomorrow) to make the whole operation salable in due course. That is the way I looked at it. Others may take a different view but in any event they are working hard to make money themselves which is no bad thing.

I also like the fact which I wrote to them about and that was taking a controlling interest in the JV. This they have done for very little cash.

Has any one worked out what the average cost per share is on the Lanstead holding? This will give the break-even price that Lanstead may want to get out and so control could pass to a new partner who would want to exploit BEM.

[23blade] 02/3/2015 13:21

anley, what's your view on remaining cash of only £186K? + the £150K from Landstead settlement.

[anley] 02/3/2015 12:33

It is good that the new management have got the accounts quickly so we can all study how value can now be obtained out of the mineral assets.

I see that part of the remuneration for management is taken in shares rather than cash.....very good move.

With Landstead still there and wanting out sooner rather than later then there could and must be some move on financing and corporate activity this year........we shall have to wait and see.........so in the meantime I have topped up again at 1.68p as this still has to be the best clean shell on AIM and the LSE.

[nash81] 27/2/2015 08:57

looks like one by one iron ore and coal companies are either bankrup or delisted, BHR, BZM, LOND and now BAO !

soon will be BEM?

platinum is slowly recovering and great for investment in companies at bargain price. check JLP!

another one to watch for rerating is ROSE as they found oil already. broker target double digit

[abergele] 18/2/2015 21:34

Well if its sink or swim, then the charts are showing the moving averages in favour of BEM,
so if it holds and we get support,we have a good chance,with the government behind us,there is a chance of pulling out of this decline.....imho

[anley] 17/2/2015 14:41

So could you give us an example please?