Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
There are only a handful of people who work for this run down shambles of a company and yesterdays RNS sums it up…we’re looking forward to pressing ahead and an update is coming…
…an update on what, you’ve all taken salaries and delivered nothing. This will be the 3rd time these jokers dilute the shares with absolutely nothing changing. Had they waited for a positive court conclusion, you might be able to raise funds off the back of good news?
This is a cash call to cover salaries…AGAIN! I think all of these jokers should only get paid when the share price hits and stays above certain targets…starting with 10p…
Honestly, on one hand I see it as verging on corruption the way the Kurt and Ed have behaved and on the other, I see us as blind idiots - who by the way, these jokers need but who they’ll chuck under a bus in a heartbeat! I’m not physically able to put more £££s into this wreck and frankly right now, I wouldn’t even if I could.
Ed will be off in 5-8 yrs once this cash call is spent with a lot of £££ in his pocket. Kids will go through private school, he’ll join Kurt for a pint and some venison and they’ll chuckle about us idiots…no, I’m not sure they’ll even give a toss about our stories…
…w 6 n k e r s…
The lot of them…
There are only a handful of people who work for this run down shambles of a company and yesterdays RNS sums it up…we’re looking forward to pressing ahead and an update is coming…
…an update on what, you’ve all taken salaries and delivered nothing. This will be the 3rd time these jokers dilute the shares with absolutely nothing changing. Had they waited for a positive court conclusion, you might be able to raise funds off the back of good news?
This is a cash call to cover salaries…AGAIN! I think all of these jokers should only get paid when the share price hits and stays above certain targets…starting with 10p…
Honestly, on one hand I see it as verging on corruption the way the Kurt and Ed have behaved and on the other, I see us as blind idiots - who by the way, these jokers need but who they’ll chuck under a bus in a heartbeat! I’m not physically able to put more £££s into this wreck and frankly right now, I wouldn’t even if I could.
Ed will be off in 5-8 yrs once this cash call is spent with a lot of £££ in his pocket. Kids will go through private school, he’ll join Kurt for a pint and some venison and they’ll chuckle about us idiots…no, I’m not sure they’ll even give a toss about our stories…
…w 6 n k e r s…
The lot of them…
Pretty grim really this. The proposition by Ed to even mention a potential raise below our nominal value only proves how badly this is being managed. Steps should have been taken for months, to ensure we were not faced with this problem. I tend to agree with SJ, insofar as, now it’s already been announced, and the likely cost to existing holders is known, why would the sp climb back to 2p, for example, when we know what could be planned? Supposing we all vote against the share split at the EGM, what then?
All we seem to do is take our slaps and thoroughly dislike them. We can’t only point to the Court decision on Kallak. Progress elsewhere has been dire, and we aren’t looking at any objections lodged for our other two projects.
We obviously knew that a fundraise was expected, but the terms are leaving a very bad taste, possibly the most damaging fundraise ever for existing holders.
Our already precarious situation has been and is being managed shockingly by the BoD. No question. Why not specify to any interested backers or participants in this fundraise, the money men, that retaining BEM’s nominal value status is essential in any negotiations?
World Class asset, yet why over a barrel?
This bright future is a bitter pill for many.
Useless Mr Bowie. Useless.
Sorry everyone, mixed up my Vaasas and Vardars.
SP has dropped to almost its lowest level in Sweden. Today's new re Vardar hasn't helped at all. Various metaphors come to mind. Deckchairs and The Titanic and Paddles and Schitts Creek. At least the sun is out today!
I fully agree.
Lets find out who he has appointed anyway to drive Kallak forward and go from there.
Sj...couldn't agree more, me too. Is that three of us? Lol.
It got hyped on the concession news, and will happen again with the enviro permit. If they get as far as acquiring and environmental permit and DFS on kallak then this isn’t just some small cap explorer anymore imo. Blinkers are removed, you have to sell in these aim shares when they get hyped.
Crazy figures like 50p-£1 are out of the window now.. due to the massive dilution. Every chance of 10-20p on hype alone in the next 12-24 months.
Sj74,
People said exactly that at 3.16p and 2.06p.
Remove the blinkers!!
Well I will be getting some.. on the chance they will deliver on the news, and the hype of the environmental permit. There is money to be made here at these levels.
Long term holders who continuously whine “what about us” need to wake up.
The board could not care less about dilution or number of shares in issue.
They need one thing - a pot of cash to use for their own benefit, like an ATM. And long termers keep obliging, which is completely unfathomable to me.
3.16p, then 2.06p, now 1p or less and continuing to believe this is a solid investment.
It is not, and hasn’t been for over a decade.
To put it simply the huge dilution is destroying us investors unless you can buy a lot more down here. The news coming up should be good, 2x PFS, 2x EIA complete and 1 enviro permit applied for. This should create a lot of value here.. the huge dilution will ensure this doesn’t go up that much though…
Why can’t we just do a normal placing, rather than telling the market weeks in advance??
At least that way it’s unlikely to be as big a discount as what we are likely to have here. I take it they don’t want to offload vardar.. or it’s worthless..
More illusory 'progress' from these charlatans.
The previous Government was spineless and hostage to the Green Party and it was said on one occasion by a spokesperson from LKAB that they could pick Northlands up for nothing, just had to wait... but that didn't happen, private investors bought it and now it's Kaunis Iron and they're in the frame for providing ore to the green steel project. Certainly the opposition want us to run out of money and it's a feat we've managed to survive so many years. The EU are tightening up on laws for mining permits and that might help us in the next stage. I think the current BOD between them have got the right experience to manage it, it would only take one of them to sell it off. I hope so anyway. atb.
Do you not think that the Swedish government has had a big part to play in Kallaks demise I have said many times in the past that is the case,
I believe the government wants Kallak for their own means because there mine is running down on production ,I also believe that they were and are hoping that we run out of money so that they could obtain it fore peanuts just a few million sek" no government would allow a few herders to control vast resources and billions of seks in the way this has been done over the years if it was not involved in some way or another behind the scenes ,
you only have to read all the data to see what been going on , block block block every time any thing will do to stop BEM mine Kallak even deer crossing the road once a year.
Excellent post eddp.
A few years ago we had reached a stage where the company had been through numerous
political boards & councils & we just needed one more signature from the CAB (I might be
technically incorrect) who had previously showed positive support.
After years of bureaucracy, we were finally going to be paid.
The CAB did not sign & came up with 2 very dodgy reasons not to.
It emerged later in a newspaper article that some smug environmentalist blocked it.
So after 14 years supporting and believing in this company as a small shareholder … investing at a time where the risk/reward was high… I’ve now read and reread the money now jam later message here time and time again…This is a huge kick in the teeth for existing shareholders. The value now is so low , that I read it that they can’t even raise at a fair value discount so to make it attractive to new investors we existing investors have to take a rerate to our share values.
Abominable. I’m so so disappointed in this.
Another potential life changing opportunity 10 years ago slowly washed away down the pan from greed, mismanagement and political interference. No doubt creditors, underwriters, board members will all make their money back due to huge discounts…. But not your common man just looking to taste a few scraps from the table.
Gutted
We shouldn't be a junior mining exploration company we should be a world class, state of the art, green steel provider, mining company: if all things were equal.
There was a bit of irony attached to it. :-)
Rerate ffs. Bloody spellcheck
A related?!??
Why? How?
A related down maybe thanks to significant dilution and lack of any tangible progress.
My shock and disbelief is about Navalny though disbelief isn't the right word for it. The fundraise here was entirely expected and we don't know the details of it yet. We're an AIM junior minor, expecting a rerate, anything could happen any day. A fool thinketh himself wise, a wise man knoweth himself to be a fool.
Why all the shock and disbelief since the RNS?
The cash call us entirely expected and it's happened exactly the same as it always has, at a derisory price, with advisors taking huge chunks of your money.
Hideous dilution and Sunak like promises of future value.
It is all nonsense!!!
They are insulting investors, even being crass enough to state the money is for exactly the same purposes as the last two cash calls.
It is simply to keep the board's gravy train on track.
I can't believe people are considering supporting this.
Talk about good money after bad.
Fools and their money are easily parted.
I’m not being defeatist but Ed and co have had plenty of time to work on this fundraise, to ensure that it is kept above our nominal value status. If we are looking at over a 50% further drip on the raise price of 2.06p, then that’s pretty disgusting management, in my opinion. We already having stomached the blow of the 2.06p fundraise, which was, as we know, a 40% discount to the then prevailing sp.
The last RNS, and use of a Primary Bid open to all platform again suggests that existing shareholders are being bulldozed to one side and into likely oblivion, if we can’t afford to, nor have the desire to continue to stump up our money in return for less and less shareholder value. Let’s face it, there has been promise of creation of value, but yet no or little attempt made to ensure that the cash calls are not totally crippling for the very people, you, me and everyone else who actually own this company.
Am I wrong? If so, why is that?
What has Ed actually done so far, to bring the rest of the business into the picture with the market, while we await the Kallak outcome with the Court?
Keep taking the wages and not performing well enough, then stuffing us at cash call time.
Nice!