In June, the bureau granted a three year licence to London and Stockholm listed explorer and developer Beowulf Mining to expand its operations in the country by exploring for polymetallic discoveries in the Berg****en mining district. The area is known to be rich in copper, zinc, lead, gold, silver and iron ore. It includes mines such as Boliden’s Garpenberg and Lundin Mining’s Zinkgruvan zinc mine that are already operating.
“Zinkruvan is certainly one of the best polymetallic prospects in the country,” said Patrick Pittaway of Cantor Fitzgerald Europe, Beowulf’s advisor and joint broker said.
However, most of southern Berg****en has seen little modern exploration, despite the fact that in addition to Zinkgruvan it also hosts Bersbo, one of Sweden’s largest early copper mines. “Historically, this area has not been much worked over although those couple of operations that are ongoing are promising,” said Beowulf Mining CEO Kurt Budge.
He refused to be drawn on how much the company was prepared to spend on exploring southern Berg****en. “We can’t say at the moment. It’s tough to raise funds and we need to be very focussed on how it’s spent,” he explained. “It will be a step by step process over the three years to establish exactly what’s there.” The company hopes to build a detailed picture of what lies at shallow depth and has created a geographic information system (GIS) database, capturing significant historical data for the area.
“The company already has…an off-site expert team…analysing various aspects of the GIS database. The findings of these activities will inform our work for a second field programme later this summer,” Beowulf said in a statement."
So, two months is not counting from todays date, but from the day all the interested parties have had their say.
I use the CAB as an example because I have already asked mr. Budge about this early in June, wanting to know if he really wishes the application not only to go back to the MI, but also to the CAB, and this was his answer:
"I would assume the CAB will be involved if it is sent back. I would want them to be."
"Just as I thought responds to Asa Mountain State's decision is not dependent on the completion of the new guidance.
On my second question regarding her statement in SR and their 2mån objective response was more diffuse, > Kallak is not a new issue but the conditions for the decision in the Supreme Administrative Court judgment, changed (nothing new!). The goal of two months is correct but note that there are 2 months of receiving all the additions and observations are in place.
So we can of course discuss back and forth when the mountain state believe they have all the "pieces" are in place, but there is none of us know this. But once all the opinions / additions submitted so we can expect an answer within about two months".
Bloody hell chaps, rub it in why don't you :) my % must be .00001 @ 200K shares and with £30K invested - mostly under water on paper which is the only reason I haven't sold any to date, if this ever reaches 15p I am out with threepence heppany profit after over 5 years.
I need another 38000 to make the million but that’s not my goal, in fact I’m looking to reduce my holding. I have some in a SIPP and some in an ISA but the majority are in my trading account. Missed the last spike at the end of June (35000 ft in the air) which would have been a good exit point for me. When I say exit point I don’t mean my entire holding, I will retain some for the longer term. ‘’Longer term’’ how much longer lol. Although look at SXX since they got the go ahead.
I also never thought about the share in terms of percentage held until a short while ago and now I wish I hadn't as I worry more than when it was just a number.
I did have exactly 5 million shares but that's increased a bit as I've added to the holding with the profits from trading other shares and we currently have 5.2 million shares which equates to about 1.1% of the company. Your holding must amount to about 1 million which is quite enough to get the old worry gland working. Mine's working overtime even though I'm still convinced that BEM will get the approval at some time before the next millennium.
At least I've managed to bang most of our holding into mine and my wife's ISA trading accounts so the taxman won't be able to grab most of the profit when the great day dawns.
I agree with you that our holdings are probably far too big for an AIM exploration company but remember Del Boy's favourite saying "Who Dares Wins" (I hope!).
There are currently 200 ISA millionaires in the UK. If the good news finally arrives and the Wulf takes off as it should Mrs44 and I could become numbers 201 & 202. Guess my favourite song "Beautiful Dreamer." However, if BEM sinks without trace you might see us begging outside of Middlesbrough railway station instead of having our planned round the world trip.
Never thought in terms of percentages before, but it appears I have just about 0.2% of BEM in various accounts. IMO far too much for one AIM exploration company, but hey, who knows? I guess we will all know before long.
A good point but it doesn't do the share any favours when potential investors come to the site and read posts from llbj and Breca stating that the share is rubbish and doomed to fail before long.
As the owner of just over 1% of this company I have much more to lose than most punters if it should go wrong so I find it hard not to react to anti BEM posts. I don't see his posts any more but before I filtered him I always thought it seemed more like gloating when the share is having a rough time then any other motive.
Anyway, I'll take your advice and leave it alone in future.
ed,my take on llbj is that the lad has been severely burned by BEM and most of his posts suggest a bitterness towards the company that stops him letting go. We all have bad expereinces on a share but I really do suspect his was bad and he can't stop himself from coming back and stabbing at BEM. Instead of inciting him perhaps we should leave it be and let him settle.
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