Europa are delighted to link with I3E and look forward to early September Serenity appraisal spud. Watch the full video here.
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Watching Paul McCartney and Dave Grohl now. Good stuff.
I've never been Sooz, but like watching some of the bands on telly. I watched Idles perform. High octane! I hope you can manage to get there again. x Night night.
I've been watching Glastonbury...love it there and climbing up the Tor...maybe the last time, I don't know. :-)
Nighty night, Eric. x
Hi. Thanks for sharing your thoughts Sooz, much appreciated. Nothing wrong with being a Pollyanna, spurs you on when you most need it I reckon. Good that. I don't feel Kurt has done well at all on the info front since we've secured the concession. Not what I was looking for. Yes, in a prolonged anti-climax, with a lack of info. He may need to keep his cards close to his chest with the Kal project, but surely not with the other two. I agree about Finland especially, we should be given much more info. We even received grant money there to help us on our way. We don't know how things are going or how decent the product is likely to be, what our partner is working on right now. Kurt is keeping everyone guessing, which means we've been drawing our own conclusions and lately falling out with each other. Ulla's appointment is maybe a safe option, but if gain the enviro permit before long, hopefully this year, I really would like him to start looking beyond the end of his nose. We deserve to command suitors for the Kal asset. I can only make this comment based on what I feel should happen, he may be looking beyond the end of his nose, but we don't have the news to support that. In talks with suitors not based in Sweden, for example. Dunno, but I do care. Good point you made earlier a smooth road. Are we yet on a road? Lol. Maybe after the appeal is found to hold no real weight. Evie eve Sooz. x
Another thing...we've been given the cold shoulder in Sweden. In Finland we've been welcomed with open arms...so it would be good to know more about what's going on there.
PS I don't think I ever read the sequel...Pollyanna Grows Up...maybe I'll look it out or maybe not.
You know, Eric...at the end of all our wanderings, we'll find ourselves back at the beginning and know the place for the first time...that sort of thing. :-)
Difficult to say, Eric...I'm thinking about it, trouble is I'm a Pollyanna and I always look on the bright side, such as... well we did get it, the Concession, it's in the bag (give or take a reversal of the decision which I'm sure wont happen) and that has always been the big issue. We're now in a period of anti-climax. Kurt could be more communicative, obviously it would be nice to get a constant flow of positive news but he probably needs to keep some things close to his chest because this is after all a competitive business. I'd like to know just how good that graphite is, flake wise and It would be good to find gold in them there hills; I'm sure he thinks Kosovo is a goer or he wouldn't have invested so much in it. Time will tell...sooner rather than later I'm believing.
Sooz, what in your opinion could Kurt do better? You don’t have to say if you don’t want to, but in my view I’m quite often left wanting with these RNS releases. Both in terms of the lack of details and in the frequency of the news. The projects in Finland and Kosovo respectively therefore also (we know about Kal) seeming to run at a snail’s pace. Be good to know more about what Epsilon is doing as our partner in Finland. Kurt isn’t yet driving any interest in those two projects, not such that is assisting with the sp yet anyway. He should increase communication levels and better detail the activities. Timescales etc.
The sp is important, we need upwards momentum and then for new lows to be sustained. Via definite news. Otherwise value is never created.
Fingers crossed for a change from him.
Only my thoughts.
Rocks and sea, maybe a plummet to your demise, yeah, slight problem you have then. Time to reverse and leave, any way that you can. Lol
You are right. I’ve been down a few of they roads, narrower and narrower, bumpier and then you get wedged. Lol.
At least you are with a daredevil, and I wouldn’t expect anything less.
Unfit Road? Nonsense. Lol.
And the sea!
PS Forgot to mention the rocks!
Eric...Just thinking the analogy of a road smoothing out isn't a good one, it reminds me of a night in Cornwall when my other half entered a road marked 'unfit' which is always a challenge to him...and it got worse and worse to a terrifying point (for me anyway) when we had no choice but to reverse, take part of a fence down and turn around in a very muddy field. :-)
Thanks for caring Sooz. It’s difficult to be in the red again though, especially now we have the concession award. Would you feel worse had you not sold your Option shares? Maybe not, the same perhaps, but it has a bearing on my feeling about the investment. Should we be back at 4p? No! Lol.
Yes, the word “rapid” resonates, but it’s so far a word only Sooz, not yet supported by the action of said word. As far as I know, and going off the communications that we have so far received.
Review again in October. Lol.
Have a decent weekend. Afty aft. x
Eric...don't look at it, the sp...it means nothing at the moment. I'm believing the road will smooth out as we go along, it's a great project, I'm glad I'm in it and I'm looking forward to seeing it unfold. But WTFDIK. Lol. You deserve a good result and the newly exercised word 'rapid' hopefully will bring it on. And don't forget just how fast this can move. Afty X
Hasty, good post. Your own thoughts and feelings are of course completely valid. I disagree that Kurt isn’t bothered about his shareholders, but where we currently find ourselves is tragic. His communication can be better, he’s said himself that he can improve in that area, and if and when that does occur then perhaps you’ll feel differently. I am disappointed by the lack of his response to a tumbling sp, but it really comes down to whether we decide to stick with it, bearing in mind the premium quality and quantity of the Kal asset, that’s not including the potential of Finland or Kosovo.
I do find it difficult to believe that Kurt is more bothered about his own comfort levels and legacy, because he does not come across as that type of person at all. To me anyway.
I do accept your view though Hasty. It’s not a good sign that you are wholly hacked off.
I didn’t expect this sp drop to be so severe Sooz, and wish I’d have had your wisdom over my Option shares. I should have derisked part of the investment. I feel your points re the appeal and a different constellation are spot on. If Ulla was also in the mould of Baylan, knowing how poorly Baylan treated BEM, Kurt would surely not have employed such a person.
But I am worried somewhat. We have long-term holders who feel Kurt is perhaps now failing us, and that’s a problem. You know me, I do try to be fair in my analysis, but I don’t know what the real plan is, I’m only trusting that Ulla’s appointment, instead of that of an experienced top mining CEO, is part of a good thing for us.
But the concern is that the sp is awful, we’ll need funds at some point and Kurt has not raised his levels of communication yet. On all projects.
Dunno Sooz. x
Did you send in a not too vanilla question, Hastyretreat, to the AGM?
Aug/Eric - totally agree with you the sp. Diabolical has been Kurt's communication. What I disagree with in general is the notion that Kurt has Shareholders best interests at heart. Kurt talks a good game about environmentalism and shareholders, but his actions have not matched his rhetoric for a CEO with investors at its heart. It is easy to say we want to create the most green whatever, but the simple fact is that's the easy bit when you are an explorer. Don't forget that Kurt learnt the business from his Dad, who ended up costing lots of people a lot of money when that all went pear shaped. Now I know Kurt is not his dad but it is starting to feel that the last seven years have been a massive journey for Kurt to build his own little empire/legacy and in reality he doesn't give a toss about investors (I know many on here think otherwise). His track record of raising cash at low levels is stellar and his disregard for the SP tanking is now just more of the same. His complete contempt for us shareholders is shown in the shockingly poor investor communications that has not improved one bit (or his investor pitches either)- his nice chat's with Rosie at BRR paid for media just don't cut it, in fact they never did with those oh so vanilla questions. Kurt is like one of those friends that you never hear from until either they want something or it is near their birthday. He sends out info every 5 minutes when he wants cash and then dangles the word 'exciting' , 'great progress' 're-rating' and 'updating ..in due course' and disappears back into his hole without a peep when 80% is wiped off of the sp. The challenge to the concession was always going to come, but please remember that a well run company with a pro-active board would know this and have a strategy to mitigate, at least in part. Kurt adding Ulla to the board is just adding more dead wood to his vanity legacy at the top of the organisation that weighs heavier on the cash burn and a further drag on the SP. Kurt in his head thinks he is doing a great job but in reality he has just eroded shareholder value over time and has fallen for the Jam tomorrow delusion, and we all know how that ended up for his dad...bankruptcy. IMO.
Morning Aug. Thanks for your thoughts....but as you say we're a diverse bunch and I'm not entirely buying into your scenario...that US is one of Baylan's generals. She didn't necessarily agree with his handling of the matter when he was in office (whatever opinion it was that he had) and the Award was made under an entirely different constellation of the Government and also directly related to that event. And the Boss has openly stated LKAB would be the natural owner of Kallak, it's no secret. The sp is a casualty of investors cashing in at the first opportunity which was always on the cards and now they're faced with the uncertainty surrounding an appeal or review whatever it is. All things considered there's still a super grade product waiting to be developed and that's the most important thing. atb.
PS I've considered myself included in 'gentlemen' all my life, hope you don't mind. ;-)
Aug, losing around 80% of our value since the supposed good news of receiving a concession is diabolical, you know I’ve been scathing of Kurt not making a proper mention of the slide, considering he did say we’d have a potential re-rate. Do you feel that he has stopped trying to maximise value then, because he is so fed up with this saga that he’s allowing BEM to be pushed about? Or is there an offer in place which is too good to refuse? We mustn’t forget that his duty is to represent the shareholders of BEM and search out the best situations for us, not to be directed by outside forces. Otherwise we may as well be like another Government Department.
It is quite clear that more shareholders are becoming disgruntled here, obvious re the sp, with no apparent immediate plan in place following the concession award. On the face of it. Are you feeling Kurt should step down? Where would that leave us.
We must trust that if a deal is in the offing and your points are correct, the figures will be decent, if not excellent.
If you are most concerned then I guess you could contact Kurt to discuss whether perhaps he’s taken the easy route, or the best route, the option for getting the project running sooner and without too many further hindrances. Still with shareholders’ best interests in mind.
Can anyone in Sweden bypass politics to get anything done, other than politicians? Ask yourself that. Lol.
I just don’t know anymore Aug. I remain optimistic that the sp won’t get much worse. The rest is currently unknown, the finer details. We’ll learn about these gradually, and we may not always like that they don’t match our own ideals for BEM, but it’s a matter of trusting in our boss.
Morning.. EricDraven/johnthegolf, Gentlemen, we are a million miles apart with our opinions - too big to bridge.. So, we are not getting into any tangle over this. As you well know, I do like to court popularity with my opinions here.:-)
So, in quick short, my honest take on the application sham! Nothing in this so – called process is ever as it seems..
First, Thor did not award the concession because he ran out of years, he ran out of political ammo (PM, Baylan etc), before he got his ideal re Kallak’s future – so, more BS to follow ?
The concession is a bag of xxxx SP?, waiting for the ‘wrong’ applicant (miner/partnership) at the Environmental court.. If you think that the court is not political, then why place value on the appointed CEO for having pollical connections re permitting? Everyone, in every walk, who has been appointed, has to be political, or they will walk.. $Billions and politics = Horse and cart..
I have been under the impression for a while, that KB is not too concerned about the very low SP? Given we are yet to learn of any partner/funding, that would be most odd.. Now with the arrival of a favourite with current ministers, being appointed as CEO, we now know that KB is NOT in any hard – talk with anyone who would upset the norms in Swedish mining? Don’t we? With this appointment, together with an apparent relaxed KB re SP, I wonder if there has been a handshake, and the numbers have been sorted – regardless! Who with? No idea, other than someone who meets the ‘right’ applicant name, and the correct timing for the politics to fit!
First we get the ‘far – reaching’ award, then a continuous SP slide with no break, and then we get one of former minister Baylan’s Generals take the helm! Next??? atb…