Like all of the other suggestions this evening I guess that's a possibility. Mr Budge and Mr Metcalf only have 5.3 million shares between them., I've got more than that. Maybe they'll let me sell the company. I was in the motor trade for a while, I'll get them a decent price for it ;o)
After all of the what ifs and conspiracy theories that have been flying around on here this evening and Manro getting ready to sue the Swedish Government It's nice to see a simple and strait forward comment like yours. 'A decent chunk at proper value"
Lots of in depth discussion about who will own/control the company after the approval and commencement of the development phase but nobody seems to have considered the fact that the Swedes already own the company because they have well over 50% of the shares and the percentage is increasing every day. At the next AGM the Swedish shareholders can vote to kick out the current board of directors if they so desire and we can't stop them, we no longer own enough shares.
To be honest I don't give a stuff who owns it/runs it/funds it as long as we get the approval, the SP keeps going up and we all make loads of money. then I might start thinking about the development stage and whether I want to stick around to see it through of move on to look for the next big thing.
Yes agree, 'allowed' was the wrong word. Perhaps 'discouraged' in a way that says there is little prospect there will be other options agreeable?
I am thinking this from something Martina07 said here on 9/1. Which got me looking into Swedish mining cos and domestic vs foreign ownership/control . I don't know enough yet, but I suspect that the way it seems to be will be a factor as to who KB is talking to wrt hopefully forging a deal with a JR partner for Kallik. I also don't think the BEM BoD will want to take a project like Kallak to production on their own or that they would want majority control as it moved to a producing asset. Far better to have sold a decent chunk at proper value (once permitted (and also DFSed maybe?), retain a significant value (and then growing) minority and not have to shoulder all the many responsibilities.
Agreed. Of course they will want to know what BEM's plans are, and they will do already. I don't think anything less would or should be expected, particularly in terms of ensuring compliance with regulations, further development and so on.
There may be no rules excluding foreign ownership of a Swedish iron ore mine, however, it is the norm for them to be state owned. Would it be naive to expect the concession to be granted by the Swedish authorities without them enquiringly of BEM's plans after the possible granting of the concession?
Yes, good point Suzy. If there were such rules, nobody outside of Sweden would bother investing in the country, in terms of trying to set up a business there in our sector.
If we are to become the junior partner though, in our case, then the senior partner must surely also pay a tidy premium for the hand-off, because we currently have sole ownership of the Kallak project. I don't see how we are the minnow, simply because of what we have. Kurt, I'm sure, will not allow us to be brow-beaten in any negotiations, precisely because we have the Kallak trump card.
Imagine how it would look around the world in the industry as well, if such was seen to be bullied out of our grasp. Sweden would lose a tremendous amount of investment opportunities from international companies. The Swedes already haven't done themselves any favours with this application process.
On we go then. Let's see what the next few months bring.
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