The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I agree re the RNS. Structured well for progress at Grafintec, but years away. Still, we have the plans plotted out, which is something new. What I will say, in Kurt’s defence, is that the CRM Act was only voted in favour of by the EU Parliament on 7 September, something which we trust will work massively in our favour. Kurt did not have the added bonus of this and the recognised targets for the EU.
It is difficult to take re the timescales, but nonetheless, we now have some. It is only a preliminary roadmap though, so subject to change of course, which could be change for the better.
Kal and Vardar next then.
Good luck to us.
Yes thats the problem....Heres some exciting news that may happy one day far far away, which of course means we will need more of your money to keep us going until then.
WHAT ABOUT NOW.....
WHAT ABOUT KALLAK
We are supposed to be progressive Kallak like it is business as usual, what the hell is going on............
Message from Mr Very kin Frustrated
A pity no one is breaking out their piggy bank and buying. Shows the level of illiquidity and lack of interest in our market. And not that it matters, but I did buy last week...
A very uplifting RNS and beginning to get a little excited again, sadly the can seems to get kicked further down the road in terms of years, but at least it's getting kicked I guess...good day everyone..
Positive RNS, but the dates make for uncomfortable reading. 2027 targeted for production?
Good that work is progressing, but shows the project drift under Budge.
It's a wild guess... experience tells me it could be much longer.
I read somewhere on the government website that it could be up to a year, but it was using DeepL. And the information talked about the date of submission. So who knows? It was very contradictory...
I hope you are right Pocko that it is quick and this dire SP gets a bounce.
In terms of court, I thought it was just a case of presenting legal arguments? The Sami, on challenging the government had several deadlines to submit their case, if I recall correctly? I hope it's a quick judgement, and I can't see why it wouldn't be?
And in respect of the review. Who knows?
Yes, still grim on the sp front, but I guess that the six month review should half done by now. If not more. I can’t see the SAC decision taking many more months, but that is only my personal opinion.
Grafintec looks decent but we need to see the structured plans for progress, cost and timescales?
Ed needs to work on the news delivery, including frequency, if we are to gain momentum in the right direction. The last RNS was an improvement on previous. If I remember rightly. Seems so long ago now. Lol.
And the SP Sweden achieved a year low this morning...
And for all the talk on socials in Sweden, and here to a lesser degree, the pitiful volumes suggest others share my sentiments.
Rumour, genuine or otherwise and events drive the SP. I can't see any of those on the immediate horizon.
The benefits to shareholders, Jokkmokk residents, and yes, even the Sami through their generous subsidies; and the wider regional and national economy are there for all to see.
But without substantive progress, the SP will languish.
For those that believe in such a deity, pray the Supreme Court makes an announcement sooner rather than later.
In Grafintec we must trust.
Cheers, they've been saying 'within 4-5 years' for nearly 2 years now 🤣.
Nothing new to report, but just thought I'd share that the posts keep coming:
Based on the existing resource for #Kallak North alone and modelled over an initial 15 years, within 4-5 years a mine at Kallak could be producing approximately 2.7Mt annually of #ironore concentrate. With significant additional resources and exploration upside mining
But that's not to say that things won't start to move quickly if we get an early resolution to the Supreme Court hearing.
My money is still on Grafintec... Because as it stands, no mining is involved, at least initially, and hence no issues with indigenous hypocrisy.
Confused argument... The difference between mining Kallak and realising value for shareholders are currently two very different things.
I've no doubt that Kallak will one day be exploited. But the questions is by whom. BEM can realise value without ever having mined. But to date, for many reasons have failed to do so. Hence the current SP.
Green Steel? Environmentally friendly? H2 Green Steel are in it for the money, hence signing deals in the US and Brazil.
The ore in Kallak will not be mined before 2027 at the absolute earliest, based on our own optimistic work plans.
Those that criticised my posts in Q1 when even at that point, it was clear how the year was starting to pan out, notwithstanding the departures of Budge and Soundbite Sandborgh which couldn't have been foreseen. Really need to take a look in the mirror...
Shareholders need to focus on what can be achieved, and not pie in the sky partnerships and conspiracies.
Will H2 want Kallak ore? Of course... but they won't receive it for years. So their plans are slowly coming together, but ours certainly are not.
When does the whopping baby arrive then Aug?
Morning.. More BS to put the frighteners on – no chance!
In the meantime, its all going to plan at H2GS, now attracting more new investors!
https://www.marketscreener.com/news/latest/Sweden-s-H2-Green-Steel-raises-1-6-billion-for-Boden-plant--44790977/
So then, after near ten years of BS process, we have the worlds first major Green steel – making plant, and the Green super high – grade pellets from nearby Kallak, both now in the birth canal.. funny old world.. atb………..
Hi Roller. Yes, I suppose this year so far we’ve at least had a shake-up in personnel, for better or worse, but hopefully for better. The new NED seems top quality and the question as to why he is even bothering with BEM remains. We’ve had more mystery than ever to deal with, on the back of some of us parting with further money for what was at the outset, a promising year. Still no Kal PFS, planned for commencement in Q2. Things haven’t gone according to Kurt’s plans, and now we have yet to learn what the plans are for Vardar and Kal. We know the plan for Grafintec, but the finer details are lacking there.
Great to have the Sami Appeal Hearing over with though, pending that outcome.
Have a good weekend.
The Lunatics have taken over the asylum spring's to mind, sadly the nutters are being handsomely rewarded for such.. have a great weekend everyone..
Good posts Pocko and Sooz. Yes, we have no further dates for next stage progress on any of our projects. Grafintec is at least alive and progressing, but it’s frustrating not knowing when the next accomplishment will be. And we should know, as supporters of and investors in this Company. As for Vardar, we funded them with the £250k back in January of this year to enable preparations for a drilling campaign, which was scheduled for Spring. We have not, however, allocated further funds since to Vardar, and, surprise surprise, we’ve had no news that any scheduled drilling has actually taken place. So nothing of any note since January really, except that Kurt mentioned spinning Vardar out and no news on that either. The latest news being of Ed visiting the project, but we have yet to hear what his own plans may be for that project.
We know about Kal and the Appeal. We also were informed of the six month review (possibly three months left?) and no attempt to lodge our environmental application by year end, as was the original target under Kurt.
One thing that Ed has not stood in the way of, let’s say, is Ulla’s departure. In a way, that’s something good, because we surely were only due to keep Ulla temporarily anyway. We surely need a miner running Jokkmokk Iron, not a politician.
No news though on the search for a replacement.
So really, the lack of communication continues on all fronts, barring the Finland project, where things are seemingly happening but without timescale.
Yes, it’s still not a tight business, something which Ed can focus to improve upon. The problem being, we still don’t really know his actual intentions and whether they will benefit existing shareholders.
It remains a puzzle and a continued wait, for those who can or wish to.
Yes, business as usual at Kallak is what we were encouraged to expect and ignore the elephant in the room, it was gung ho but how much business as usual (sic) there has been is uncertain...maybe that was the change in strategy, not to expend resources on something in the melting pot. Just guessing...and placing my bet on the Government having got it right when they weighed it in the balance...all the Riksdag were behind that decision, all except the Green Party. We are of course expending resources just waiting as we have been doing for 10 years.
But not under the radar for the other projects?
And we were assured that despite any political or legal issues, the Kallak project would be business as usual until legal events ditctated otherwise? That's not the case...
He's not there to hide is he? He's the public face of our company...
I would agree with Pocko's comments except for the fact that EB is flying under the radar for precisely that reason...the process is Sami v The Government; so we just have to place our bets and wait for the wheel to stop.
Without being too fatalistic about this year, it's now even more difficult to see where any significant news will come from. Meanwhile, the cash burn will continue.
The long waited Supreme Court hearing has now been held, and the outcome is eagerly awaited, more so by the Sami and investors in Beowulf Mining. The Swedish Government has for years demonstrated a Gaelic flair for the shoulder shrug... and an ambivalence to their mining industry.
The outcome could be published at anytime, but experience tells us that it will take an age. The company itself has never really addressed this issue, and is probably correct in not doing so for fear of being seen to interfere in an ongoing legal matter - It is after all, Sami versus the Swedish Government.
Grafintec appears to be ticking along, but with no tangible progress to demonstrate this assertion. Yes, an ongoing lease on land, and a PFS in the pipeline withy no delivery date.
And as for Vardar, were we not supposed to be drilling this summer?
The only success Bowie has demonstrated to date, is an ability to fly under the radar. To say he is anonymous would be an understatement.