George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Yes, I let the likes of John Major, to make the economic arguments. He would argue that, when the jackboots come marching down the M1, it doesn’t matter because they were made in Northampton. atb
Morning. Yes, exactly! This man, along with others, is constantly being smeared as an extremist – on the far-right! This does include, Kate Hoey MP, a gentle creature, who has spent her political career arguing for more, for those that have least – disgraceful! …. Smeared by the same, who are working in cahoots with an unelected foreign power, to thwart the expressed will of the majority of British voters. This PM has the same level of duplicity as John Major, and his failings on the EU subject gave us Tony Blair. Mr Blair, after only six months of his arrival at number ten, abolished capital punishment for treason! Difficult to argue then, that he wasn’t a man of vision! Amen lol. Imo only. atb
Morning Aug. I thought it was superficial and trivial...the farmer and the dead cow. Where's Brexit's plan for the economy I haven't seen one...just a lot of nebulous, gung ho stuff. How charming Mr Rees Mogg is or how exquisite his English is ticks no boxes for me. Just saying. atb
JRM has more integrity, intellect, foresight, humanity, competence and sanity than any other MP. He is staunch in his beliefs and someone I would be proud to stand beside in tough times. Doesn't court popularity or deal in shrill soundbites. Hard to believe he sits in the same chamber as the likes of Abbott, Soubry, Lammy et al. Head and shoulders above them all.
Morning. In that “11.27”, I read that, Mr Jacob Rees-Mogg would be delighted with a return of the “workhouse” so perhaps, we could have a listen to what this very decent man, has had to say in the past about his concerns for British democracy, and the European Union.
Fittingly, and worthy of note is, his exquisite, fine delivery of English is, so absent of the usual ‘remainer’ snobbery – so obvious on both front benches in parliament. all the best.
tintin35 thank you for the information.
https://www.youtube.com/watch?v=vUKjTPPcOdQ
Frances Flower...a British Company.
Operating cash flow for LKAB declined sharply in the fourth quarter to minus SEK 1,529 million from having been on plus SEK 587 million in the corresponding quarter of 2017. An underlying reason is the acquisition of the British industrial mineral company Francis Flower in December. According to Jan Moström, more acquisitions may be relevant in the future, but cannot comment on any concrete plans.
“Today, we are dependent on two heavy production units and one raw material. Now we are going through our possibilities to build a broader and more stable LKAB with more businesses and possibly other products than iron ore, ”he says.
The background to the more acquisition-oriented growth strategy is the discovery that the extensive ore body in the Kiruna mine is about to run out faster than expected, which Di reported in October. Exploration results then showed that the current main level at 1,365 meters deep only continues to deeper, which blurred earlier plans to establish a new main level of 2,000 meters below ground.
"As a consequence of the situation in the Kiruna mine, we conduct an intensive exploration project and we are developing the next generation of mining production systems in cooperation with Epiroc, Volvo, Combitech and ABB to adapt the production to the mineralization we hopefully find," says Jan Moberg.
The report shows that even higher payments in the ongoing social relocation in Kiruna and Malmberget weigh on the cash flow, together with increased working capital tied up in inventories, accounts receivable and pledged collateral on outstanding hedging positions.
Net financial items also declined substantially to minus SEK 790 million for the quarter, where the company noted the stock market trend towards the end of last year as an underlying reason for a poorer return on financial investments.
The Board of Directors, in which former Prime Minister Göran Persson sits on the chairmanship, proposes an ordinary dividend of SEK 3,164 million in accordance with the Group's dividend policy. This means an increase compared to the dividend for 2017, which amounted to SEK 2,882 million.
https://www.di.se/live/produktionsstopp-straffar-lkab-i-fjarde-kvartalet/
If only there was some more ore out there.....
Beowulf Mining / LKAB status from DI / LKAB status from DI
Yesterday 19:08 IP:
Production stoppage penalizes LKAB in the fourth quarter
The state mining giant LKAB reports a lower profit for the fourth quarter of 2018, heavily due to weaker production volumes, while at the same time operating profit is strengthened by higher iron ore prices and stronger dollar exchange rates.
Now CEO Jan Moström is opening for more acquisitions and broadening the company beyond iron ore.
A total stop in LKAB's pelletizing plant in Svappavaara since September when the need for extensive maintenance was found, lowered production considerably during the fourth quarter by 1.3 tonnes. lower delivery volumes as a result.
According to the company's annual report released on Friday, it is one of the underlying reasons why the result deteriorated during the period to SEK 1,110 million for tax, which can be compared with SEK 1,371 million for the corresponding quarter of 2017.
”We operate six pellet plants today, so roughly you can say that one sixth of the processing process stood still during the fourth quarter with the maintenance work in Svappavaara. Now we do not expect to make any more cold stops in 2019, ”says LKAB's CEO Jan Moström to Di.
You have also suffered from production disruptions in the Kiruna mine. How should you secure the operation?
“We are now carrying out a large number of measures with the goal that maintenance must be planned and predictable, while we also review how we can reduce the total maintenance peak time. It includes consolidating a number of units, but we are in the middle of the process and get back with more concrete details ”.
Thanks to higher prices for highly processed iron ore products and a stronger dollar exchange rate, the mine giant can still count on a 44 percent higher operating profit of SEK 1,900 million. At the same time, sales increased to SEK 6,911 million, compared with SEK 6,208 million in the fourth quarter of the previous year.
The average global spot price for iron ore products is quoted at $ 72 per tonne during the quarter, up from $ 67 in the third quarter. Since the beginning of the year, iron ore prices have continued to climb, partly as a result of the production stoppage for the Brazilian major competitor Vale following the accident at the end of January. On Friday morning, the spot price for one tonne of iron ore is recorded at $ 84.73.
"It is too early to assess the full consequences of the Vale accident, but it is difficult not to draw parallels to the Samarco accident in 2015. Then we had a similar situation that led to 20 percent of the seaborne pellet market disappearing and a pressed pellet premium turned up really well, ”says Jan Moström.
Operating cash flow for LKAB declined sharply in the fourth quarter to minus SEK 1,529 million from having been on
Thanks for to info. Much appreciated.
Lol, what a hoot. All serious points really though, I know, and I think he is spot on. I've read all of his posts from yesterday Sooz, I'm liking the style. Another goody emerges. Lol. Afty aft. x
I've found a kindred spirit on the Lloyds board...read his post from Friday ...Grayling : 11.27
I hope you enjoy it as much as I did, but in a regretful, sad ... they'll wish their cake dough.. sort of way.
Already submitted = progress. ;-)
Environmental Impact Assessment... it’s not usually a requirement at this stage, but we submitted one. Thus meaning, the process should in theory be more advanced when we get our exploitation licence.
Hi Eric
I've not been on the site much of late and I've forgotten lots of stuff. What it the EIA
Thanks in advance
Thanks Pocko, and yes, very good point re the EIA.
You're absolutely right about Brexit Suzy but it's good to have the debate. The other thing about Brexit is that no matter what my views are I can't change the eventual outcome be it a so-called hard, customs union, Norway option, Canada plus, delay, second referendum or even remain.
On the other hand, I have some control over my investment in BEM I have options to buy more, sell some, sell the lot, that part is in my control.
I can't control what the outcome will be regarding the concession.
Some are easily offended (I'm not advocating personal insults) if they see negativity posted about something they have put their money into, and yes there is a filter if they wish to use it, I don't.
Take lbjj, he's been invested here and previously stated that if BEM gets the go-ahead he will invest again, so he (maybe) has a vested interest here. But you can't deny all his contributions/prophecies of late, actually, the last couple of years, have been correct, in so far as there has been no actual decision on the permit.
There are many people, on these sites that continually post comments, and you get the impression that they've never made an investment in their life, but it's an open forum.
Saying that I must say the regular posters on here have kept an interest going especially during recent long periods of known, no news, at the very least we've learnt a bit about Swedish politics.
Debate, opinions, discussion, speculation or argument will always be ongoing, before, during and after the event…. especially after, that's why we're here, isn't it?
Wouldn't it be ironic if the ‘new’ Government returned this back to the mining inspectorate, for what you may ask? Who knows but remember it is the Mining Inspectorate that usually grants Exploitation Concessions in Sweden, not the Government, so I'm sure they can think of something if they put their minds to it.
We all know now (not when it started) that this process has been a farce, IMO a bit like how the Swedes arrived with its new Government. It is now a question as to how long this farce can continue and when politics are involved anything can happen regardless of the law.
Just saying, have a good weekend all.
Quite right EricDraven... people also forget the submission of the EIA. That should held progress matters
We've been taken around the houses and off piste as far as debate goes. The only matter for Kurt to press I would say now, after almost six years of waiting for a concession decision, should again be whether we've satisfied the legal criteria for this award. Kurt must put that to the new government. As we know, the company having submitted information above and beyond what is officially required for this stage of the process. Let's focus on the pure basics then. Debate is irrelevant at this point. The law is not. In my view. Best of luck to all invested.
AIM and Aktie, like two different worlds. Barely 115,000 shares changed hands so far on AIM (nothing since 10am??) and the SP is 'down' 1.52% at the moment, whereas in Sweden 2,700,000 shares have been bought/sold and the SP is up 1.3%. Curious that there is such a bid difference and such a disparity in relative price; the Aktie price translates to 7.22p as far as I can see. Any offers as to the reasons?
Norway gives go-ahead to disputed Arctic copper mine
https://finance.yahoo.com/news/norway-gives-ahead-disputed-arctic-060816211.html
It’s a bulletin board for investors in a mining company. The key word being ‘investors’, defined as those with a vested financial interest in a particular company, or for those seeking to invest. In this case BEM. There is a filter button for a reason...
And ...I'm not stifling debate, I'm shining a light on it...questioning the motives of an anti-mining group for instance is a reasonable position, sincerity and truthfulness is not too much to ask.
Tell me FarEnd...what are the chances of you entering a debate on Brexit and coming out a Remainer? Zero.
Like I said everybody's input is welcome, it's up to the individual to sort the 'wheat from the chaff'
A discussion/debate with all parties of the same views is not a debate, it's a rally, convention, assembly call it what you want but it ain't a debate with opposing views.
Another reason not to filter anyone, negative comments can be beneficial you'll never learn anything with tunnel vision.
Just saying.
I love the company, I support the management and I buy shares. :-)