Well, well who would have thought it way back in 2011 ...that the next 4+ years would see this misery coming. China's boom days are over, the global economy staring at yet another bust period, Iron ore Supply now outstrips demand, larger miners are choosing to overproduce, driving prices lower and forcing the closure of higher-cost suppliers, forecasters predict raw materials to drop to less than $60 next year, let's be honest it ain't great is it. It pains me to say that this is going to the bottom drawer, regardless of whether we get a license or not, we're in for a long wait before anything substantial happens, this orphan period probably going to be a long one. Of course we're not the only ones, most of AIM are in the same boat. I hope Mr Budge can hang on to what's left of the kitty, it's needed to see them through this turbulent time.
Wow... Spokesperson for the Sami, LKAB and a Leeds United fan to boot. You are a mixed bag? Just a small point, but major mining companies frequently buy 'resources' to place on their books as part of their long-term strategic processes.
By all means air you opinions on this board, as all views are welcome, but one should not sell ones self as a self elected spokesperson for anyone.
Admirable aims, but have you asked the Sami whether they want their lives to be enriched by iron ore?
Chatting to someone at LKAB, they said the ore at Kallak is not needed and a mine there is extremely unlikely. Resistance by the Sami is one factor, a minor one, the main factor being an iron mine at Kallak makes little business sense.
If any of you do get rich, please buy Leeds football club and sort it out.
Actually, you are in a more positive frame of mind than I am at the moment, talking of January/February. I hope you are right but my concern is that the current political situation could delay the decision until after March.
January/February is not so far away so why is it hard not to be negative. Furthermore, we do have a clear path to monetisation...we dig up iron ore and sell in the European market for $100 per ton. If people are going to need iron in the future, buying it locally is a very green option. And don't forget the product is infinitely recyclable, another green tick. Strong buy imo. ps It might take a while. ;-)
This has all become about kallak grant now, pretty much nothing else matters. And by then we will be in a very weak position financially any deal would have to be made very fast indeed. Iron ore market is awful too. Until the big players has squeezed out mid level producers price will not be allowed to rise weighing on the whole sector. Hard to be anything other than negative about beowulf ATM. Kallak by jan/feb we may have a chance. Who's going to further finance a company with no clear pasha to monetisation??
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