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Ed
I don't think the Politicians in Sweden think like that. I'd swap them with our lot any day.
I did say possibly a lot more! However it's not necessarily what it's worth but how much the majority are willing to sell for. If I had bought recently in Sweden for 0.5Kr and somebody offers me 3Kr less than a year later I think I'd take it.
That seems a low estimate, considering the quality of the deposit and that it's possibly the very best in Europe. Plus, mine life potential and KN already JORCed to recognised mineable standard. KS is a bonus which should be in any considerations. I feel 25p would be selling ourselves short, and particularly also after the damage inflicted over the past five years by Swedish ineptitudes. Also part of the consideration. In my view Googs. With the concession and a higher sp on the back of that, then 25p may begin to seem paltry. But nobody knows. Lol.
I mean I think they would prefer to see it run by state-owned LKAB rather than somebody like Anglo American, for example.
Lots of interesting opinions offered over the last few days so I thought I might offer mine.
I wonder if the reason for the delay is just to allow more of the shares to be bought up by the Swedes who will then have the benefit of the SP bonanza when the exploitation permit is awarded. Meanwhile the SP in Sweden continues to creep up and It touched 1.020 this morning. After all of the bouncing around during the day it usually closes near to the opening price.
I tried to buy a few more shares this morning and was told that the deal could not be competed so it seems our market keeps getting tighter. This should help the SP to rise a lot when the award is given. In the middle of the month Kurt updates the percentage of shares now held in Sweden. I think it will be considerably higher than last update.
atb to the surviving Bemmers
For the sake of argument I don't see why Swedish investors would have a vested interest in keeping it under Swedish control...it would be under Swedish control whoever owns it because it's in Swedish land.
Make you right on that one Googlebot and I would certainly jump at 25p if that was the case.imo.
I have no doubt that informal conversations have been taking place behind the scenes with LKAB, regardless of what their head guy says. Regarding KB making them a sensible offer, if we were to sell the Kallaks to LKAB it would be the shareholders that would decide what is acceptable, not KB. Which leads to another point...the more new Swedish investors we get the more likely a lower offer price will be acceptable. They would have lower averages and a vested interest in keeping the concession under Swedish control. They would still be 'owners' in effect. I still think that any offer would have to be in excess of mid 20s to be accepted, possibly a lot more. That's enough for me!
“He is not a politician” I beg to differ on that! In recent months via RNS release he stated something similar to: … we continue to receive strong support from the Government. Only weeks later, again via RNS release he said this: … the delay on the decision is unacceptable! He didn’t say that, the delay was disappointing. No, “unacceptable”. That’s one hell of a circle to square. Imo only. atb
Kurt is a miner. He enjoys digging big holes and shipping product for profit.
He has not been able to do that for well over four years now.
He is not in his comfort zone.
He is not a politician.
This is doing his CV no favours.
Whilst he may be no pushover, I have only seen evidence is soft skills to date. Getting chummy with local politicians and stakeholders is not fundamental to extracting a positive government decision and a concession.
Where is the Swedish advisory board?
It is 9 months since Kurt disappointingly, and very publicly conceded that the election would delay the decision. 6 months after the election, I see no evidence of urgency from him.
It is not over with already because it suits the Swedes to do nothing. Decisions can be challenged. Indecision can not.
ATB.
If you are right, the obvious question is, why isn't this over with by now? My counter would be, KB wants fair value, perhaps? We just don't now! However, with the backing from the MI, and the CAB looking bias to every explorer in Sweden, I would exploit to BEM's end. I would suggest, KB has good capacity, and is no push-over. Imo only. atb
Hi googlebot. Good to see you here still. Busy as always. More focused on stable large cap shares particular US ones. I was focused on the long term and wanted to look past the short term on this. I did have a stop loss set to my average buy price which was about 12p. Unfortunately that was triggered and so I was out. I’ve lost track a bit of what is going on with BEM these days.
Kurt is clearly stymied completely by the politics of this unfortunate situation.
the Kallaks represent a very substantial prize for someone in the future. Sweden is also completely stymied by it’s own politically correct myopia, and fear of creating conflict. You only need to view the country’s pitifully supine reaction to being swamped by immigrants who are too large in number to ever integrate with the indigenous population, even if they wished to, which, largely, they do not.
In order to break the log jam, initiated by the inflated power of the Sami parliament and people, backed up by the CAB and the heritage and environment agencies - all headed up by greens still , in the new government, the government must engineer a situation which, outwardly shows LKAB to be the owners of the Kallaks.
Behind the scenes, Kurt must be seen to be willing to sell to LKAB in return for a sensible premium. He must decide whether this is his best / only option, or whether he can continue to dilute indefinitely and hope for revenue via Finland or Kosovo.
Personally, I would get rid of Kallak to the state at an acceptable premium, and as quickly as possible.
Otherwise, I don’t believe progress is possible.
Just popped in the say hi. Always curious about how BEM is getting on and pleased to see it has had a good start to the year. With AIM value is all potential and risky as. Hence volatile. IMO making money in aim is hard work and you can be riding a huge wave very quickly and find it gone just as quick. The wave being very strong with all the quantitative easing at the time. You could throw money at any commodity share and get some gains which wasn’t my interest being in for the long term. However this creates a conflicting situation for us all. You hold on due to long term fundamentals but the market has had a shot of qe and gone into a monster bull run. It drags lots of short termers into the market. Like most here we held on far longer than we should.
Evening. Ok then, for clarity, may I ask, what change of circumstances is needed for the concession to be granted, in your opinion? atb
The deposit can be valued, based on current metals prices etc, but the sp is always a complete guess. Much depends on sentiment and timely news. And yes, there is no point in trying to estimate yet, without this concession award. Get the engine installed in the car first, then try and drive it. Troaj, good point re the bull cycle. I wasn't aware at the time that we were even in a cycle. Much learned since over the years, as have we all.
Delt is not to blame for other’s misfortunes. Nor was/is he alone in his pronouncements on projected values.
I remember Delt’s calculations being gobbled up as perfectly reasonable, and, by some, as quite conservative.
Exactly the same wishful thinking which certain long termers bat back and forth today.
As googlebot says, anyone’s perfectly valid stabs at potential value are null and void in the absence of a concession.
You should all, by now, know my view on the likelihood of the concession ever being granted to BEM under current circumstances.
like all cycles....they return.
at some point.
How I wish I understood the impact of quantitative easing back then!
like eric knows.
back in the 70p days,the mining sector was in a bull cycle,every miner was on an artificial high.
it caught a lot of us out.......https://www.quandl.com/data/ISM/MAN_PMI-PMI-Composite-Index
As a newbie investor I bought all the way up to 70p on the hype, but I don't blame anyone else. It was a lesson that unfortunately I needed to learn a few times. I don't pretend to have followed everything that Delt (and others) posted in terms of valuations, same goes for gruvgunnar and others more recently. All I know is that we are sitting on the biggest JORC'd unbroken quality iron ore field in Europe and that if it wasn't for an episode of politics breaking out in a previously mining-friendly style country we would have had our mine and our higher valuations by now. My feeling is that it is such a binary choice (with BEM valuation and Kallak concession tightly coupled) that valuations are irrelevant right now. All I know based on the rise of a couple of years ago is that the share price will be much higher just before a decision is made, as long as that date is known. Who knows what happens after that.
No, it's not that silly Googs, all things considered. Newbie investors can be vulnerable and Delt was irresponsible. When things went badly for BEM, he then simply disappeared. Not good, and he certainly isn't worth talking about on here now, in my opinion, so that'll be it from me. All the best.
Delt, where have you been? More to the point why are you back? A few people might think that you are to blame for their losses all those years ago but that's silly, everybody is responsible for their own investment decisions. Are you still a shareholder or did you sell up in the 70s? Doubt we'll ever see those figures again but double figures would be nice!
Actually I think the general consensus is that life expectancy dropped when humans became farmers instead of hunter gatherers. Sure the population increased but there was more disease, famine and conflict.
He daren't.