Yes, I feel the next fundraise should ideally be on the back of us having gained the Concession. If we haven't done so by then, I think that the situation could be more precarious for us. We would obviously have greater bargaining power with a mining licence in the bag. I feel that Kurt could now therefore press for a timescale from the MI and refer to the overall time already taken for our application. Of course, the Swedish Government simply holding onto our application for months and months without doing anything with it, only to eventually then refer it straight back to the MI, hasn't helped. It could have been sent back months sooner.
The radio interview with Asa Persson is in Swedish therefore I don't know in what context she said it would take six months; she isn't talking about Kallack in particular and she has said according to printed interviews that there are a number of matters being considered. As I understand it she says they won't be able to look at it before August.....and my optimism is based upon the fact that she isn't looking at it for the first time, they have had it for more than three years. AND the MI are NOT anti mining activists...they support mining in principle. AND the Fall is only two months away. AND I'm satisfied with what Kurt has said about the timeline...it remains OK for a mine in four years from now :-)
I am glad that we and some other fellow BEMrs are coming closer in our view on current situation. It is really hard to imagine that any serious private or institutional investor in their healthy mind will put new money in this company without being this time absolutely sure that concession will be granted. So, the next fund rising could be either just impossible or simply unnecessary. Because getting positive result will easily increase the share price and bring the new capital as well as attract potential partners. But if the decision making process is going to be transferred to the next year with the prospect of the second round of this whole saga, it will mean that the Swedish authorities and maybe somebody else are holding all of us, to put it mildly, for not very smart people. This is why I have called and continue to call all of us to be prepared to give hard fight back to those who are quite possibly playing their own dirty game.
I think that's right. It's difficult to take, that the Norra Karr ruling impacts upon us, considering our application was lodged in accordance with what were the rules at the time of our submission . Years ago!
Anyway, just additional bad luck and something we have to accept. However, waiting for a decision into next year isn't acceptable from the stage we are now at.
Thanks for the info. I'm trusting Kurt is fully aware of how many shareholders are feeling, because the company has in effect had its progress halted on its flagship project for years. He must know that he can't rely on our goodwill indefinitely either.
Ok, fair enough. I'm glad that you still wish to see this come good for those of us who remain involved. I feel the whole saga has, and continues to be, a difficult learning curve and one where the final outcome is uncertain. I don't think we can predict what will happen, only that we have been dealt blow after blow along the journey and we are due a change in fortune. It appears to me that the Swedes are more than happy to allow overseas companies to explore their country, but not at all happy about allowing them to kick on from that stage. Only my opinion. They don't really deserve overseas investment, because the time it has taken for our application already, it would have finished many companies off. It has been and continues to be quite an unsavoury affair.
I believe Kurt has pre empted the Sami and CAB objections by opting for the review by the MI, he asked for this in his letter I believe. This may well negate the need for the environment assessment which would have been required beforehand and could even save time in the plan to get into production. Just my opinion of course but as we are all in the dark with the Swedish bureaucracy it comes down to patience but death by a thousand cuts seems to be the underhand plan. As time goes on we may have to face yet another funding request.
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