BEM are sat on an exceptional amount of resources. They focus greatly on iron ore and are targetting production next year. They are currently in the exploration phase and have a "World class" deposit of iron ore. They are based in Sweden and have interest from the Chinese to supply the iron concentrate. They are to produce 70% Fe concentrate. The progress this company is making is outstanding and they are about to gain a JORC at their Kallak North deposit and the JORC from their Kallak South deposit is coming in the next few months. In the words of the Director "2011 will be transformational." www.mybem.co.uk has detailed research about BEM including valuations, risk, news flow etc.
It seems the mining sector is going through a difficult phase of late and as far as BEM are concerned if they can stay away from the list of heavy fallers, I for one will take this as a good sign that there may be some sentiment for this share? lozan
Delt- If you have found this -Well done!Like I said ,We need to involve Siamanto, and a few other trusted posters? Your comment on the open board re T/O is the way I see CSP thinking/aims at the moment, due to the apparent lack of drive? There are the ongoing moves to production, which I see as being more rewarding,but in your view,could Ballek be his real target? lozan
BEM are definitely going to be taken over. In fact the resources will be at a mineable stage Q1 2012, so a take over will come in around this time. It will be in the £'s as shown in the calculations on www.mybem.co.uk and the chairman (Clive) has said BEM are worth 10s of £'s.
Ballek is just a giant pot of gold with some copper. He is very keen to get on and develop this. I think it is a brilliant target and I can't wait to see it proven up. We won't have to wait long.
For me the reluctance to pump funds into an agressive drilling programme is a sign of VSPs intention to sell off the Kallaks, which I think are a bit out of his league maybe, but he has more than a yen for Ballek. I am getting a little weary with the K N JORC delays just now?
Good point. He is running the project with as little cash as he can get away with. It will payout well in a takeover. Accelerating the project plan and bringing in the test mining next year is going to wet the appetite. Perhaps the deliveries to customers are actually deliveries to prospective buyers?
It is annoying that the KN JORC delay is dragging. It is coming by the end of Q2, but I would like to see it this month or the start of the next. No missing of deadlines, that is unacceptable. Having slack deadlines is also annoying and adds uncertainty. It means this is a medium and long term play and leaves the short term open to volatility.
I am wondering why we are continuing to be allowed to have the SP suppressed,which seems to be by design? To me the whole outlook seemed to change with the realisation of just how big the resources were when CSP and Jan got a good look at the Kallaks, after K S fell into their laps. It is a bit daunting isn"t it? lozan
It is very daunting. At the mercy of institutions. They bought loads of shares during the placing and they will be buying more now the SP slipped below. BEM is full of PIs and this is not what IIs like. They want a bigger slice of the cake.
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