George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Some nice updates the past few weeks. Kosovo looks like a very interesting long term prospect, Finland looks decent and kallak we 'should' have decision before Christmas if we are led to believe it is in fact forthcoming and the dossier is being prepared as we speak. Hopefully this is finally the start and the sp is a snippet of what it will be in the not to distant. Gl all
If I was a Market Maker I’d be jolly interested in keeping the UK sp well behind the price in Sweden where millions of people are willing to buy at a 10% markup on what I am offering shareholders in the UK
Now selling at 9.25p in Sweden on 2.5m volume, so we are well behind.
Thanks Aug. An interesting find date wise. “What we are discussing here is LKAB’s after 2030” says Pierre Heeroma.
Fits in nicely with the map CSP published years ago showing prospective mines in Sweden and Kallak marked down for 2030. Coincidence or collusion going back all these years. Might account for the Swedes being in no hurry with granting the licence? Who knows?
Thanks, very interesting.
Mattias Karlsson (M) has submitted a KU notification regarding the government's processing license for Kallak. He wants the Constitutional Committee to scrutinize former Enterprise Minister Mikael Damberg and current Minister for Enterprise Ibrahim Baylan, but also the Ministry of Trade and Industry's handling and action on this issue.
Already in 2010, the company Beowulf Mining has conducted test drilling and test drilling in Kallak. They first submitted an application for a processing license for the Kallak project in April 2013 and have since been referred all the time - between the Berg State, the County Administrative Board, the Swedish Environmental Protection Agency, the Swedish National Heritage Board and the government. The government's case is now a second time for decisions, which they have done since July 2017, and has so far cost the company SEK 80 million.
The handling has been unsuccessful
Mattias Karlsson (M) does not think that one should jeopardize the tight position Sweden has in the mining industry, since Sweden has long been Europe's leading mining nation.
- Since the management was unsuccessful, it will not only be a problem for the company that has spent a lot of money on this, but also for Sweden. This means that other mining companies, even outside Sweden, do not dare to apply for this because the application management is not secure.
In the notification to KU, Mattias Karlsson (M) writes:
“Due to the government's inability to make a reasonable decision regarding the processing license for Kallak K no. 1, I mean that an examination of the Constitutional Committee is required. I would like the Constitutional Committee to review former Minister of Enterprise and Industry Mikael Damberg and current Minister of Enterprise and Industry Ibrahim Baylan, as well as the Ministry of Trade and Industry's handling and action on this issue. Firstly, I want the committee to focus on what organizational and other measures have been taken to reduce the processing time of this case, and partly on whether sufficient resources have been allocated for the preparation of the case.
REMARKABLY
- It is clearly remarkable that the government has not reached a decision yet. Even the Administrative Law states that they should be handled as simply, quickly and cost-effectively as possible.
Mattias Karlsson's own speculation is that the government will not agree. He believes that the Social Democrats want to approve the application, while the Environment Party puts wheels in the wheel.
He also says that the stringent environmental legislation and our high environmental goals are the explanation for the Swedish mining industry today being at the forefront in environmentally sustainable and climate-adapted mining.
- I hope that a KU report will hopefully speed up the government and that they do not want the examination, he says.
Got to love the MMs - UK sp is marked down by 1.5% just on the basis of the spread being moved, before any trades have been put through, just as the sp in Sweden moves up to 9.6p, up nearly 4%. Just trying to rattle a few shareholders into thinking the recent rally has started to slide so they can shake the tree a little and then flog the shares off to Sweden?
over there - more bargains here....
Morning. tintin35, this should help with, “running out of ore” …… (a new situation for LKAB) …… atb
https://www.lkab.com/en/news-room/news/extent-of-orebody-in-kiruna-more-complex-than-expected/?aid=5232
https://www.lkab.com/en/careers/work-at-LKAB/current-vacancies/
Uses US date format for when vacancies were posted.
Which is interesting as they said last year they were running out of ore......
Mining vacancies are on the LKAB website. They’re looking for a couple of mine planners and people to work on sustainable mining projects -based at Kiruna - just over a couple of hours from Jokkmokk..not as though they could advertise roles based at Jokkmokk. Could all be normal recruitment of course, but the website makes it clear LKAB is pursuing a growth strategy.
I'll be happy to buy a round or two as well. atb
I only have a few 100 thousand but at an average of 5.8p so have slept ok so far!
LKAB will surely take Kallak and the price will be a lot more than 25p, more like 70p. Meanwhile I see from Avanza that LKAB are advertising for a lot of mining staff for north Sweden. After all this waiting it would be impetuous to sell out completely at 25p. Enjoy the ride, we've waited long enough.
I've got 580k at 9.5p average and a week ago I had just 215k . I used to have 1 million but it was affecting my nerves. I'm not sure how Ed sleeps with 6 million. The drinks will be on him shortly.
I think it will appear on the agenda... the overt message of decision being made or discussed made public soonest..... almost a told you so moment from the ministry.... light blue touch paper then
GLA
Agreed Suzy. Either way there will probably be a leak re the agenda, just as previous occasions
I think we are finally (!) reaching the endgame here -might still take a few more weeks but, after god knows how many years we could finally see a payday. Sami pretty well given up. No decent legal arguments been used against us.
There's more shares in issue than last time but we have a load more projects which could all turn up trumps in themselves.
Personally I'll be out at 25p but we could see it rising a lot more than that with just a whisper of an interest by LKAB (of course they want it!)
Well that was short and sweet....
@ibrahimbaylin_ is his twitter account
The Company is in regular contact with the Swedish Government and has received no definitive timescale for a decision to be taken on its application for an Exploitation Concession.
· The Government has confirmed that the Company will be notified of its decision when markets are closed, such that the Company can prepare an announcement to markets in advance of trading re-commencing.
can't see it on the agenda as this would undermine the whole point of suspension
Moderator Mattias Karlsson in Luleå reports the government to the Parliament's Constitutional Committee (KU) to pull its legs behind in terms of permits for a mine in Kallak in Norrbotten.
Karlsson suspects that there are political barriers between the Social Democrats and the Environment Party in the government.
- The matter seems so clear, therefore it is extra strange that the government cannot reach a decision, says Mattias Karlsson to TT, pointing out that the government got the case on its table in the summer of 2017.
He believes it is irresponsible to the company that applied for the concession, Beowulf Mining, to pull off the process for such a long time. The company began drilling in 2010 and submitted an initial application for a license to mine iron ore in the area in 2013.
Karlsson writes in his report that he wants KU to review the government's "inability to make a reasonable decision." The report is directed at both former Minister of Trade and Industry Mikael Damberg (S) and his successor Ibrahim Baylan (S), as well as against Prime Minister Stefan Löfven and his responsibility for the proper handling of cases by the Government Offices.
I don't remember him saying it wont be on the Agenda? After all putting it on the Agenda doesn't reveal the decision.
https://www.aftonbladet.se/nyheter/a/pLmn0G/m-ku-anmaler-regeringen-for-senfardighet
Thanks to El bisonte on Avanza