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Kurt’s levels of delusion over Kallak and the “ anticipated decision “ are getting out of hand.
At least he has secured his £3k a week for another year or more for doing very little.
This one is far more interesting than the placing RNS. Right now, why would you pour more money into Kallak? What is going on behind the scenes? It casts my mind back to the CAB ruling and their objections. First, the importance of reindeer herding. I think they've lost that one as we have seen a number of key people state that both can be accommodated, as they have elsewhere. Secondly, the proximity to Laponia. That was never a valid argument due to Kallak being outside the exclusion zone and, as a number of articles pointed out, much further from Laponia than currently active mines. Thirdly, CAB disputed BEM's expected mine life and claimed that the mine would only last for a short period of time, 12 years I think? That was for Kallak North only of course, and only using indicated resource values (there is undoubtedly much more at K N+S). I believe this move is to prove that Kallak has the potential to become a long term iron ore mining region on a scale to eventually take over from Kiruna. My only concern is that if the company is investing more money in the Kallak region, there should be legally binding assurances from the Government i.e. prove the resource size and we will grant the mining concession. Of course it could be argued we've already done that!
No investor in BEM has ever had the opportunity to take part in a rights issue because there has never been one.
Just saying.
Testing of the multi-array method in parallel with drilling is planned for Autumn 2020. In anticipation of the Exploitation Concession being awarded for Kallak North, the Company would then consider a follow-up programme of drilling at Kallak South and Parkijaure.
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"In anticipation of a decision on the Exploitation Concession for Kallak North, we have been investigating how we can add to the potential 250 million tonnes global resource defined at Kallak North and South.
"Having been awarded the Parkijaure nr 6 exploration licence, we are reviewing existing geophysics and have already begun testing passive seismic technology at Kallak, with a view to using this non-invasive exploration technology to help define additional iron ore resource.
"For a typical mining project, the mineral resource increases as the full potential of a deposit is explored and proven-up over time. With iron ore in Sweden, a good example would be LKAB's Kiruna, established in 1890 and still producing today.
"I look forward to keeping the market updated on further progress."
Looks like Kallak is very much on the agenda - the green methods of working shoudl satisfy any criticism of our mining methods - plus EU grant.....
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that the Company has been awarded an Exploration Licence for Parkijaure nr 6 which covers almost 1,000 hectares, situated to the south of Kallak North and South deposits, and which is similarly prospective for magnetite iron ore.
The magnetic signature of mineralisation at Kallak, extends southwards from Kallak North to Kallak South, and then beyond to Parkijaure. Interpretation of geophysical data suggests the potential for additional magnetite mineralisation, which could add to the Kallak North and Kallak South resource.
Parkijaure Geophysics
This week, Beowulf has awarded a contract to GeoVista AB in Sweden to re-assess existing geophysical data and determine if an additional Exploration Target is warranted at Parkijaure, to add to the Kallak South Exploration Target.
PACIFIC Project
Beowulf is a partner in the European Union ("EU") funded PACIFIC Project ("PACIFIC"), launched in June 2018. The project has received €3.2 million from the EU's Horizon 2020 research and innovation programme and has a 36-month programme of activities being coordinated by Université Grenoble Alpes.
The aim of PACIFIC is to develop a new, low-cost and environmentally friendly tool for exploring for sub-surface mineral deposits. The PACIFIC consortium is conducting fundamental and applied research to develop two radically new and complementary mineral exploration techniques, both based on passive seismic imagery. See project website for more information: https://www.pacific-h2020.eu/
Kallak, including Kallak North, Kallak South and the Parkijaure licence, has been chosen as one of two PACIFIC test sites.
At Kallak, Phase 1 work includes:
· Testing the multi-array method over the known magnetite iron ore deposit to provide background data;
· Establishing seismic properties for the iron ore; and
· Correlating findings with the geological model for Kallak.
Testing of the multi-array method, using an array of receivers at surface, was conducted at Kallak South in September 2019. In early 2020, a similar survey will be conducted at Kallak North, followed by interpretation of the data and correlation with the existing geological model for Kallak North and Kallak South.
Phase 2 work will include:
· Testing the multi-array method in parallel with drilling at Kallak South and Parkijaure, with noise from drilling providing a passive seismic source.
· Testwork will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify previously undiscovered magnetite mineralisation for the Kallak South Exploration Target areas and for Parkijaure. This work would help better define drill targets for verifying test results and resource drilling.
Testing of the multi-array method in parallel with drilling
Down 5.5% in Sweden. More realistic
Yep, typical MM tactic; catch the people who only see the headlines or panic, pick up some shares on the cheat and sell them later when rationality returns. I couldn’t see in the RNS any detail about the placing being underwritten but I guess it is or did I miss that. Interesting it was a placing not a rights issue.
Well someone knows something.....
Typical that it goes down to placing price but very temporary imo. I can sell for 5.8p but can't buy any. Watch it go up later. Like you say, only 2% of the company.
at 5.5p :( but only 2% of company...
Doh. I thought it too good to be true.
Very sane post from Cryff this evening on the to be or not to be battle that has been raging over there. :-)
Hello Sssmajl. We did OK today, yes.
Could it be tucked away in there? Matters arising from the last time it was on the Minutes, when it was I can't remember.
Hmm...what's up with the BEM share price today: up 7+%?
In Sweden we're down 2,34%.
//Sssmajl
I wouldn't assume that the Sami subsist on state handouts:
'The modern norm is to have a permanent home and a cabin in the mountains for herding season. And those who remain in the business have long since replaced the skis with snowmobiles, AWD vehicles and helicopters.'
People who exist on handouts can't usually afford two homes, snow mobiles and helicopters. They have a parliament and UN protected designation as an indigenous people. My guess is that handouts are the icing not the cake
Boris makes good speeches and then waits for the other party clowns to kick him in the nuts.... delay delay delay..... glad i have been trained by BEM....
Laffin
Sadly the Sami,like most living off the state,assume there is an infinite lump of money that they are entitled to live off without taking any responsibility for. It is never their job to generate the cash pile. Just as we borrow to give away £14bn foreign aid whilst closing libraries,etc to soothe politicians consciences. Sweden,of course,has taken this theme to a new level with their climate change anguish.
The cutbacks have already started as the Mayor has already announced.These cutbacks must affect the Sami’s at some point as they thrive on subsidies and cannot come out unscathed.I would have thought a new mine would have been in their interest now as much as anybody else’s.Or maybe it doesn’t work like that? Lol.
Boris Johnson made a fairly good speech the other day....make believe of course. Sigh.
I thought the Asa Persson article was a spoof, but, astoundingly it is real.
Politicians lives exist in an exclusive and separate world to ours. They love to put out rubbish like this to feed their own egos and need to feel self important.
Look at the 650 f*cktards in the House of Commons. They are absolutely revelling in the chaos they are creating for the same sick psychological reasons. They are the centre of attention and, no matter what, their lavish lifestyle is assured. That is all they crave.
Mission statements, however vacuous, are the daily meat and drink to these parasites.
John lets all hope that job creation trumps sami herding this winter..... and the man who should/could say yes has the local mayor helping him make the speach..... and i sometimes wonder what pressure point will enable the decision to be made and the matter be brought to the conclusion of decision made.... lets all move on to the next phase..... you sami's think ahead.... economy is in need of help.... miners roll your sleeves up... you have a job to do..... and we need workers
GLA
More S.H.I.T.E from Sweden just like the mission statement issued by this government, remember that, pages of C.R.A.P for the gullible. The joke is that people must believe this rubbish otherwise why would they publish it.
Never thought of the Swedes as leading the world in stand up comedy.
Who knows. Perhaps awarding exploration licences doesn’t involve any “complex legal issues”, these only arise when considering applications for mining licences.
The recent question to the Minister from his colleague in Parliament querying the delay in considering mining applications was, perhaps, the wrong question. It would have been more beneficial to ascertain what the “complex legal issues” referred to actually are.
Clearly, these issues are not around the application (which fully satisfies the requirements of the process). If the application were deficient, this would have been identified long before now, and the application denied. Rather, these issues are around the Sami and SDs coalition partners the Greens.
Perhaps the Government should focus more on the real complex legal issues that might arise if they unfairly reject the application, and then face Court action by the Company on this decision.