You asked me the other day about Lanstead. I was about to reply when we were overwhelmed. I have looked at the RNSs of 01 09 14 and 06 10 14 and cannot reconcile the numbers. In particular, the 'Notified Details' numbers.
How did 86,477,235 on 01 09 14 become 73,854,225 on 06 10 14??
One of the bonuses, if you like, with us here, is that we aren't yet at the production stage. In this bear market, thank heaven. The market cycle will hopefully change, with iron ore prices rising again, just as we're on the up, having proven up more of the asset, and to a mineable JORC level.
I think at this current time, although we have yet to receive the Concession, we have much to be grateful for.
If investors are able to see beyond this current stage and stick with it, then the sp should eventually take care of itself, all being well.
PAJALA Northland stops until further notice all activities in Kaunisvaara. The recent race on iron ore prices were too tough for Northland Resources. Following this said most of the employees up.
- Northland has been strengthened by the operational changes and cost-saving measures implemented in recent months. However, as the company did not receive enough support to get access to the funds necessary to continue operations. Given the very tight liquidity and the challenging market conditions, the Board has decided to halt operations until conditions have improved and long-term financing has been secured, "said Chairman, Olav Fjell in a press release.
It was on September 30 that Northland message that the recent deterioration in iron ore prices put further pressure on the company's liquidity.
Because Northland did not get enough support to the requested funds would be made available because the company has decided to stop all activities but intend to supply the iron ore concentrate that is already produced.
Discussions with the relevant trade unions have begun.
- Given the extremely challenging market conditions, the Board's decision to halt operations at this stage the only way to avoid bankruptcy, this means regrettably that many skilled and dedicated employees to leave the company. All our staff have worked hard to Northland's best, and I am impressed by the devotion shown in these difficult times, says Johan Balck.
The entire management staff is now in place in Pajala to inform staff.
Obviously not connected to BEM, just thought I'd mention it. (Can't get the link it's on NSD)
1st time trying to trade out of bordom after giving up a year ago. only messing with a £1000. lost some in UEN then saw this flying so thought might make my losses back in here. great trading lol. and thats why i stopped 12 months ago. I remember watching this ages ago go to 70p so knew a bit about it and how low a market cap bem now have. so bem need the mining licence still thats been help up for ages.
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