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One of advantages of posting on the BEM board is the quality of debate. Statistically, Sweden does have a very high death ration per population, largely driven, it seems, by deaths in the homes for the elderly. I have seen arguments that these deaths occurred in people who were very sick and their prognosis was not good in any event. The reported deaths today is 96 equivalent to over 600 when related to the UK pop. Wherever these deaths come from the rate looks to be unacceptable. Sweden's government is de facto a less directive based system than ours and defers to expert advice. There have been some protests, particularly in Stockholm, which is unusual. As an exporting economy it must be hurting from the impact on Europe and my point was that if their covid strategy is wrong the damage to the economy could be worse in the long run.
Rick, I disagree regarding the death ratio. Yes more have died per capita in Sweden, and sad to say, most will have been old and or infirm. But in the process, they haven't managed, unlike the rest of us, to pretty much destroy their economy. So, harsh though it sounds, they will probably come out the other side a lot better set.
I've been saying from the outset we should have ringfenced care homes, advised retired people to lock down where possible, and allow as much as possible of the remaining economy to go about its business with some social distancing and face masks.
Rick, I disagree regarding the death ratio. Yes more have died per capita in Sweden, and sad to say, most will have been old and or infirm. But in the process, they haven't managed, unlike the rest of us, to pretty much destroy their economy. So, harsh though it sounds, they will probably come out the other side a lot better set.
I've been saying from the outset we should have ringfenced care homes, advised retired people to lock down where possible, and allow as much as possible of the remaining economy to go about its business with some social distancing and face masks.
But the Swedes don't seem to do 'unrest' of any sort. :-)
Despite Sweden projecting itself as a modern socialist society with intellectual rigour at the forefront of its decision making it has not dealt with the covid crisis well. Daily deaths, when comparing the population size with the UK, are running at 500-600. This is going to have a serious impact on the economy and if the government has to resort to a lockdown at this late stage it would be catastrophic. I think they will have to inflate the economy to deflect social unrest and a more marked shift to the right.
Thats what makes this so hard to invest. Is there really commitment from the government? The potential has never been in question. I got out of this 10 years ago in the days of Swiss Tony! I am heavily invested in FXPO ( not that they haven't had their problems (bust banks, oligarchs and the rest) currently the largest Iron ore deposit producer in Europe. It could be Kallak. What is wrong with the Swedish government? Because of shortages with the problems in Brazil Iron is up 30% and set to break new highs at over $125 per ton! They should have been producing by now. So frustrating
The Swedish Government treats investors with utter contempt and I'm expecting more of the same this afternoon, more barefaced lying.
But its very, very exciting. :-)
Morning All.
That doesn't necessarily follow...Threecardbrag... it could be regarded as an act of outstanding bravery, which is how I look at it. There's absolutely no previous on inkling's from the government, except that Kurt is intent upon the justice of it.
This has to be a positive. No point in awarding a drilling contract if you don't have an inkling that you're going to get the mining concession.
The Kallak iron ore deposit is located approximately 40 kilometres ("km") west of Jokkmokk in the County of Norrbotten, Northern Sweden, 80 km southwest of the major iron ore mining centre of Malmberget, and approximately 120 km to the southwest of LKAB's Kiruna iron ore mine.
The first Exploration Licence for Kallak was awarded by the Mining Inspectorate of Sweden in 2006. A Mineral Resource Estimate for Kallak North and South, based on 27,895 m of drilling conducted between 2010-2014, 131 drillholes, was finalised on 28 November 2014. Following the guidelines of the JORC Code, 2012 edition, an Indicated Resource of 118.5 Mt at 27.5 per cent iron content ("Fe") and Inferred Resource of 33.8 Mt at 26.2 per cent Fe was defined. In addition, there is an exploration target of 90-100 Mt at 22-30 per cent Fe.
Testwork on Kallak ore has shown that a 'super' high grade magnetite concentrate can be produced, yielding over 71 per cent iron content, with low levels of deleterious elements, including phosphorous and sulphur, lending itself to pelletisation and consumption in Direct Reduction Iron ("DRI") facilities in Europe and the Middle East, and attracting a potential price premium.
In April 2013, the Company applied for an Exploitation Concession for Kallak North (the "Concession") and in October 2015, the Mining Inspectorate recommended to the Swedish Government that the Concession be awarded. The Company is still waiting on the Swedish Government to take a decision.
About PACIFIC
Beowulf is a partner in the European Union ("EU") funded PACIFIC Project ("PACIFIC"), launched in June 2018. The project has received €3.2 million from the EU's Horizon 2020 research and innovation programme and has a 36-month programme of activities being coordinated by Université Grenoble Alpes.
The aim of PACIFIC is to develop a new low-cost and environmentally friendly tool for exploring for sub-surface mineral deposits. The PACIFIC consortium is conducting fundamental and applied research to develop two radically new and complementary mineral exploration techniques, both based on passive seismic imagery.
Kallak, including Kallak North, Kallak South and the Parkijaure licence, has been chosen as one of two PACIFIC test sites.
In September 2019, Phase 1 work was carried out at Kallak, which included testing the multi-array method, using an array of receivers at surface, over the known magnetite ore at Kallak South to provide background data, the seismic properties for the iron ore and to correlate findings with the geological model for Kallak.
In Autumn 2020, Phase 2 work will commence testing the multi-array method in parallel with drilling at Kallak South, with noise from drilling providing a passive seismic source. Testwork will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify previously undiscovered magnetite minerali
"The SGU's latest study, published under the headline 'New light on the iron ore at Kallak', is a timely reminder of Kallak's importance to Sweden's iron ore resource inventory. Its publication preceded, by a matter of days, an earthquake at LKAB's underground mine at Kiruna, which thankfully spared lives, but disrupted production.
"The SGU, as a Government Office, acts as the central authority for geology and mineral issues in Sweden, one of its most important tasks is to meet society's demand for geological information.
"Despite Kallak being discovered by the SGU in the 1940s, when it comes to modern exploration, the Mining Inspectorate, a separate decision-making body within SGU, awarded the first Exploration Licence to the Company in 2006.
"This permitted the Company to invest, and, from 2010-2014, drill 27,895 metres, 131 drillholes. The Company applied for an Exploitation Concession in April 2013 and announced a Mineral Resource Estimate in November 2014. In October 2015, the Mining Inspectorate recommended to the Government that an Exploitation Concession be granted.
"Beowulf believes in the greater iron ore potential at Kallak South and Parkijaure and it is exciting to be looking forwards to an Autumn drill programme, the results of which we hope will optimize further drilling campaigns thereafter.
"I look forward to providing further updates."
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announces the award of a drilling contract for Kallak to Kati Oy.
The work programme, scheduled for Autumn 2020, will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify additional iron ore mineralisation for the Exploration Target of 90-100 Mt at 22-30 per cent iron ("Fe") at Kallak.
The first Exploration Licence for Kallak was awarded by Bergsstaten (the "Mining Inspectorate") in 2006. A Mineral Resource Estimate ("MRE") for Kallak North and South was finalised on 28 November 2014. Following the guidelines of the JORC Code, 2012 edition, an Indicated Resource of 118.5 Mt at 27.5 per cent Fe and Inferred Resource of 33.8 Mt at 26.2 per cent Fe was defined.
Kallak was first discovered by the Geological Survey of Sweden ("SGU") in the 1940s and was designated an Area of National Interest ("ANI") by the SGU in 2013. The SGU's latest research on Kallak was published in May 2020, with the headline 'New light on the iron ore at Kallak'.