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Shares in Beowulf (BEM:LSE) are 10% higher in early EU after a governmental body ruled that delays at Beowulf’s Kallak are not acceptable.
The Scandanavian-focused development company is advancing the Kallak iron ore project in northern Sweden. The country’s Constitutional Committee or "KU" said administrative project delays are not acceptable.
"KU has examined the application for a processing concession for Kallak. In the Government case, no visible administrative measures were implemented for almost three years. This means a delay that is not acceptable", according to KU.
"It also appears that the applicant has on several occasions asked the Ministry of Trade and Industry for a meeting. The Ministry has then stated that this is not possible because the issue concerns a forthcoming Government decision and is a matter under consideration."
However, the KU will have no bearing on the final decision that Beowulf hopes will now come sooner.
Sven Otto Littorin, Chairman of Beowulf stated, "The Ministry's recent move to consult UNESCO, as a means to satisfying all partners in Government that the Company's application is good and meets the requirements, seems to have anticipated the KU's findings."
"The Company voluntarily produced an HIA in April 2017, and while we believe the Government should have reached its decision three or four years ago, on the basis of that report, we can be patient for a little while longer. The Company has done all it needs to do to be awarded a permit for Kallak."
"In the past, Kallak has created strong feelings and some anxiety. At the same time, we cannot choose where the ore is located. At the end of the day, the question is whether we should mine 'pure ore' in Sweden or import 'dirty ore'. If we choose the latter, then we export our needs to countries that may be incapable of meeting the standards that we aspire to, such as fossil-free supply chains, and we don't deliver on the vision expressed by the Prime Minister in recent days of building green communities, reducing emissions and creating new jobs."
"Gigantic LKAB, the state-owned iron ore company, is investing now to renew its installed technology, which will take time to do, to achieve its net-zero ambition by 2045. Relatively speaking, we are a small entrepreneurial company that can build everything right from the start and achieve the goal of being a fossil-free producer within five years."
"While the issue of Kallak is somewhat politically charged, I like to work with these challenges and I would, most of all, like to work with the community in Jokkmokk, to make the town a national centre for sustainable and skills-developing mining in collaboration with partners, such as Luleå University of Technology. It would mean a lot to the municipality and create hundreds of long-term jobs for decades to come."
whoops this one
https://www.kitco.com/news/2020-11-27/Beowulf-release-a-statement-regarding-the-Kallak-iron-ore-project.html
Phalaborwa Rare Earths Project
Hello Oilcanarry....Kosovo is building a new future, and there's a bit about them on Wikipedia. Let's give Peace a chance. :-)
Is burning the same as losing money? Thanks
I've been in here for about 10 years from the days of the ramper Delt and moaning Lozan and appreciate the sensible input of Eric and Suzy2. The last date to buy, as Suzy2 says, is certainly the 16th December according to my Barclays account. One thing that concerns me is that Vardar is in Kosovo, one of those unstable, corrupt Balkan states still in dispute with Serbia and for those reasons still refused entry into the moribund EU. Also it seems the graphite project could be going nowhere, so really it’s all about Kallak. I am taking the gamble after Friday but in my opinion refusal of the concession would mean Beowulf going ‘t*ts-up’.
re "And I'd much rather have this than any number of cruise ships, I wouldn't go on one if you paid me"
Funnily enough Suzy we booked a cruise yesterday for end of May. Vaccines will be all sorted by then. Hopefully they'll also bring one out for norovirus. lol
In the morning put elbows out...... no wood .....good! Look down.....no name tag on big toe ....also good! Now go do something useful, you've been given a new chance to change your life. GLA.
Good for you Suzy,
Yes, Al...tomorrow will be a good day and I'm posting this reply at the risk of having my name at the end of 15cms of posts. Lol
Suzy I’ve been here as long as you but am in a very lucky position that if it goes bust it won’t affect me, I now have forty one different shares including the ones Inherited by my late wife who wasn’t a gambler at all, in fact she will be laughing her socks off up there at us all, she even had Astra Zeneca , good luck to you and remember what captain Tom said tomorrow will be a good day !
And the real stuff....The Minister has to answer a question from Eric Palmquist by Friday 4 December.
FarEnd. You're posts are certainly tangible, all 15 cms of them.
Don't worry...I didn't lose a lot at the great fall because I only had a few. I've got a lot now and if the Decision goes wrong it will be 1p as you so rightly say. Then we'll have to invest our hopes in the little gold dots.
and I thing we've done good. Is that OK?
PS Yes, the ship coming in was a dig.. I'm only human. :-)
FarEnd. Someone said recently at LKAB that ore isn't really iron ore until it's been proved up and it can be economically mined. Kallak is proved up in all except the Concession to Mine, which defines our story here. I was in this before it was proved up and that wasn't easy if I remember correctly, when the drilling results on KS failed the sp fell from its great height to 12p in a few days. But that was then and this is now a lot has happened and I
Euphoria, just a general term, scroll back Suzy, this is what I wrote, "comments about it being a great, positive, promising, optimistic announcement call it what you want"
Can't find any posts questioning the content of
any Vardar updates, you know why, because nobody understands them.
Don't know what all this cruise ship talk is about. I can only presume it's a pop at me for being invested in SAGA.
FYI, Saga is primarily an insurance company nothing like say Carnival which is a cruise company.
At this moment in time I would rather be looking at cruise ships than dots on a map, bit more tangible don't you think?
Almal. But it is a fascinating study of human behaviour, these boards. Good luck.
For once, I'll second what Ibjj has to say. I know you know but this could be 2p by Christmas if there's no forward movement on the decision. If you're a bit strapped for cash, take care. As for me, my kids are grown up and I'm got more spare than I've ever had...it's a hobby and I do it for them really, it's a chance and I like chance but it wont make my life any different whichever way it goes.
lbjj well that shouldn’t worry you because you don’t own any but you seem to have a lot to say, there rest of us here are very comfortable with what we have done ,
Eric...II haven't pressed Go yet. Don't forget Baylan has to reply to Eric Palmquist's question on Friday. Haven't decided just how all out I'll go.
has, as usual, thrown up a fascinating case study in human behaviour.
Despite literally dozens of previous identical pinchpoints when investors got ridiculously excited only to have hopes dashed, you have learned nothing.
You continue to be blinded by the previous 70p high.
The Aktie manipulation is over once again. They have made their money on the back of investor greed / gullibility and the SP has predictably subsided.
There is no evidence to suggest the swedes will start to behave any differently now, any more than on any of the previous frissons. The KU quite rightly slammed the government’s handling of the application, but there is no real pressure on Baylan to make a decision.
UNESCO also present Baylan yet another golden opportunity for obfuscation and delay.
Crazy talk of 4 and 5 baggers makes me wince with embarrassment. It’s just Groundhog Day.
Budge’s recent presentations tell me he is already winding down the prominence of Kallak in the company’s portfolio as he has seen enough at close quarters of the swedes cowardice.
Finally, a personal note to Mr Draven. I understand your devotion to this share and your current average being an issue. Please be careful, Eric. Do not put any money in now which you can’t afford to lose.
Once the shares have been allocated next month, without any decision on Kallak, the SP could be, once again, below 2p.
Those little gold dots are what stood out and said "Hi" to me in his last presentation. The one where he was pulling tongue-twisters all the while, which I found annoying, but the dots eased the pain. I'm looking forward to hearing more about 'em Sooz.
I bet you are Sooz. This may be a one time opportunity, but it's still costing us much more money.
I haven't received anything via post yet, but not sure that I will, as everything bar the Prospectus seems to be online. Interactive Investor.
I've been into my account a million times in the past two days. Still not done it yet, as I'm waiting to transfer money that I don't really have over to the ISA. Lol.
Best of luck.
Eric...Yes, I'm feeling a bit of pale and sickly panic at the moment having just transferred the necessary into my ISA account.
FarEnd....Don't remember any euphoria about it...the maps and the little gold dots look good and it's what we do, mining exploration; the situation has been explained in numerous RNSs and Presentations. And I'd much rather have this than any number of cruise ships, I wouldn't go on one if you paid me.