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Just noticed a 400000 buy on the first of dec gone through, very puzzling when the share price will go down,
Hi John. Bit of a nightmare really. In order to reduce our averages it requires more money. That's what I don't like. Lol.
You make a great point re the averages though.
Quite a lot of info to take in of late, and we don't know if a decision on Kallak will now come very soon or not, due to the KU concluding that the Government has been rubbish in dealing with our application. It should help speed things up, but will it? We also don't know whether Kurt is willing to just sit back re pushing for a decision and wait however long for UNESCO and then the Government again, because Kosovo is suddenly in the foreground throwing up all of these potential exploration hot spots, and he's merrily occupied in targeting those.
We have time in hand before we have to decide re the Offer anyway. I definitely don't like the idea of a 13.5p average though, after the price we are being diluted at. The massive discount still hurts, and if we hadn't have been given the chance to take part in it, I would have wanted Kurt to thoroughly explain his decision of selling our soul on the cheap. In fact, he still should do. Why such a severe discount? It has put existing holders who are skint in a spot of jeopardy, knowing the otherwise harshly dilutive effect on their holdings if they don't subscribe to the Offer. It's also a pity we can't guarantee that the sp won't drop below the Offer Price. Lol.
Anyway, as Pocko has said, we are where we are. Make or break next year, in my view. The Kallak concession award is a must, and a discovery at Kosovo is badly needed, considering we are seemingly Vardar's cash cow.
Cheers John. All the best.
Good morning Eric.It sounds as though you and I are in a very similar position with our holding.I would dearly like to get my average down further and have the opportunity to throw a shed load of money at the offer (subject to finding the funds.lol)
but then I think the couple of pence difference it will make at the end of the day, is it worth the risk? If we get the licence and this takes off as expected then the small price difference per share will be immaterial.Like you, I will sit tight until nearer the time but I am reluctant to throw more money at it given the current situation.Good luck.
Oilcanarry, not sure that I'd call my posts sensible. Lol.
Good luck to us though eh? Kurt having a three-pronged attack of projects is ambitious, and I'm sure some of us would rather he have stuck to Kallak and kept the share issue low, ticking over and conserving funds until the concession award. Honed his methods to prize a decision from the Swedes.
If he proves to be slapdash now that he's excited, as a mining engineer, about Kosovo, then we'll soon know. Something will smell fishy. It already seems that we have been overextending ourselves financially to fund that particular venture almost from the beginning, so he needs to deliver Kallak, as long-term holders may rightly begin to feel as if we've been duped.
Big thing this Offer then, much to consider for us, at a time when Kurt is talking a good game in his presentations, but the reality is that we are still awaiting a real breakthrough on Kallak, with the other projects each in their relatively early stages.
Early morning ponder. Meanwhile, we wait for Baylan to hopefully face the music and effect a decision, and, as a side note, is there any reason why Kurt can't also write to UNESCO to ensure that certain things are pointed out? We don't exactly know at this time just how the Swedish Government's referral will be worded. To me, that is a point to ponder.
Best wishes.
Sooz, good point. We have time yet to decide how much further, if at all, we will risk with this Offer. I'd much rather the scenario of the Offer were on the back of the Kallak concession, so we can wait a little longer and see if Baylan does respond to those two questions. Not sure what happens if he decides not to answer them, surely he wouldn't do that, under the spotlight of the KU findings. Not long until we find out.
Thanks for your comments and for your help. x
Lb, thanks for your concern and for those comments, they are much appreciated. We have a good few days left yet before we have to either take up the offer or not. I need the extra shares to get my awful average down, even a little, but, as you say, the sp here is potentially a significant problem, so I'm going to wait until nearer the deadline time and see what occurs.
Best wishes.
It isn't just about us...no mine has received an exploitation concession in 12 years.
I don't think so PAYJJ...I think it's just what they decide to do as a result of the question. If you remember there was a big debate about mining and processing last summer and the Riksdag were unanimous (except for the MP) in saying action was urgently needed. The Government spokesperson voted for everything except the ones she abstained from because they were already 'in hand'. The Riksdag will want to know just how far they've got with their 'in hand' and I'm betting his wont go away now it's out in the open.
Apologies if I read this wrong...are we looking at a potential decision on the 7th?
And the debate continues:
https://www.riksdagen.se/sv/dokument-lagar/arende/betankande/granskningsbetankande-hosten-2020_H801KU10
there is a lot of sense in what Ibjj has to say.
Shares in Beowulf (BEM:LSE) are 10% higher in early EU after a governmental body ruled that delays at Beowulf’s Kallak are not acceptable.
The Scandanavian-focused development company is advancing the Kallak iron ore project in northern Sweden. The country’s Constitutional Committee or "KU" said administrative project delays are not acceptable.
"KU has examined the application for a processing concession for Kallak. In the Government case, no visible administrative measures were implemented for almost three years. This means a delay that is not acceptable", according to KU.
"It also appears that the applicant has on several occasions asked the Ministry of Trade and Industry for a meeting. The Ministry has then stated that this is not possible because the issue concerns a forthcoming Government decision and is a matter under consideration."
However, the KU will have no bearing on the final decision that Beowulf hopes will now come sooner.
Sven Otto Littorin, Chairman of Beowulf stated, "The Ministry's recent move to consult UNESCO, as a means to satisfying all partners in Government that the Company's application is good and meets the requirements, seems to have anticipated the KU's findings."
"The Company voluntarily produced an HIA in April 2017, and while we believe the Government should have reached its decision three or four years ago, on the basis of that report, we can be patient for a little while longer. The Company has done all it needs to do to be awarded a permit for Kallak."
"In the past, Kallak has created strong feelings and some anxiety. At the same time, we cannot choose where the ore is located. At the end of the day, the question is whether we should mine 'pure ore' in Sweden or import 'dirty ore'. If we choose the latter, then we export our needs to countries that may be incapable of meeting the standards that we aspire to, such as fossil-free supply chains, and we don't deliver on the vision expressed by the Prime Minister in recent days of building green communities, reducing emissions and creating new jobs."
"Gigantic LKAB, the state-owned iron ore company, is investing now to renew its installed technology, which will take time to do, to achieve its net-zero ambition by 2045. Relatively speaking, we are a small entrepreneurial company that can build everything right from the start and achieve the goal of being a fossil-free producer within five years."
"While the issue of Kallak is somewhat politically charged, I like to work with these challenges and I would, most of all, like to work with the community in Jokkmokk, to make the town a national centre for sustainable and skills-developing mining in collaboration with partners, such as Luleå University of Technology. It would mean a lot to the municipality and create hundreds of long-term jobs for decades to come."
whoops this one
https://www.kitco.com/news/2020-11-27/Beowulf-release-a-statement-regarding-the-Kallak-iron-ore-project.html
Phalaborwa Rare Earths Project
Hello Oilcanarry....Kosovo is building a new future, and there's a bit about them on Wikipedia. Let's give Peace a chance. :-)
Is burning the same as losing money? Thanks
I've been in here for about 10 years from the days of the ramper Delt and moaning Lozan and appreciate the sensible input of Eric and Suzy2. The last date to buy, as Suzy2 says, is certainly the 16th December according to my Barclays account. One thing that concerns me is that Vardar is in Kosovo, one of those unstable, corrupt Balkan states still in dispute with Serbia and for those reasons still refused entry into the moribund EU. Also it seems the graphite project could be going nowhere, so really it’s all about Kallak. I am taking the gamble after Friday but in my opinion refusal of the concession would mean Beowulf going ‘t*ts-up’.
re "And I'd much rather have this than any number of cruise ships, I wouldn't go on one if you paid me"
Funnily enough Suzy we booked a cruise yesterday for end of May. Vaccines will be all sorted by then. Hopefully they'll also bring one out for norovirus. lol
In the morning put elbows out...... no wood .....good! Look down.....no name tag on big toe ....also good! Now go do something useful, you've been given a new chance to change your life. GLA.
Good for you Suzy,
Yes, Al...tomorrow will be a good day and I'm posting this reply at the risk of having my name at the end of 15cms of posts. Lol
Suzy I’ve been here as long as you but am in a very lucky position that if it goes bust it won’t affect me, I now have forty one different shares including the ones Inherited by my late wife who wasn’t a gambler at all, in fact she will be laughing her socks off up there at us all, she even had Astra Zeneca , good luck to you and remember what captain Tom said tomorrow will be a good day !
And the real stuff....The Minister has to answer a question from Eric Palmquist by Friday 4 December.
FarEnd. You're posts are certainly tangible, all 15 cms of them.
Don't worry...I didn't lose a lot at the great fall because I only had a few. I've got a lot now and if the Decision goes wrong it will be 1p as you so rightly say. Then we'll have to invest our hopes in the little gold dots.