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3rd card bag this is being going on 10 years ? what makes you know ?
This is the best best...
“In Sweden, the Company has engaged new advisors in Stockholm to support our efforts in seeking approval of our application for an Exploitation Concession for Kallak North and I am pleased with the effective work that's been done to date.”
Sooz, I personally feel we will get the go-ahead eventually.
But it's seems pretty clear to me that for some reason, despite all loose ends well and truly tied, they don't appear to want to say yes.
Therefore I suspect that in order to save face, they will agree but with a list of additional conditions. I just hope that the list isn't so onerous as to affect profitability moving forward.
It's going to be a very exciting time...to start on the path. Anybody got 4-5 years...of course you have! But it wont take 4-5 years for the sp to go up once we get the go ahead, will it...it will shoot up immediately. We just have to keep our focus and stay cool...no fighting. Lol
https://www.brrmedia.co.uk/broadcasts/5f92d383c4d0076f2b944cac/beowulf-mining-plc-ceo-update
Yes I thought so but no positive impact on share price.
Guess it's just apathy which will hopefully budge when we get the nod from the Swedish government.
Morning All. Very interesting and positive RNS .
Sooz/Pocko, good posts from you. Not sure if this is useful, but it's an article from September about the lack of Preem's expansion, the reasons.
https://apnews.com/article/sweden-stefan-lofven-archive-economy-2bbb6d7fb6945b0a17d7d7ea9bb508f9
.
It would be somewhat embarrassing for the government if a decision were suddenly to materialise. That said, if it were genuinely at hand, a timetable detailing the decision-making process and anticipated date of finalisation would be welcome to investors... We can only hope.
The Riksdag have already set out recommendations for a one stop shop, it's sort of in the pipeline. But the KU might come to the conclusion that there's been an abuse of process, which is their job. What will happen then? And there's always the slim chance that the Government really, really do have this "in hand" and it really, really is "forthcoming". Will it be Yes?
That about sums it up. My only fear with the KU investigation is that we get more recommendations for another review or new procedures etc. Effectively allowing the government to kick it further into the long grass...
The reason they have a dialogue with Preem is that it's a big company, their operation is a reality; a mine at Kallak isn't a reality so they can ignore it, the company has no status. The KU Committee hopefully will see it in a different light...they might have a bit of vision.
Radio interview... I don’t speak Swedish, but from another poster, it appears that Preem has had open dialogue with the government about their application to develop their chemical plant, which for financial reasons they have now withdrawn. But on the other hand, BEM has not had dialogue with the government. Another example of the Swedish Government not following their own rules with any consistency.
https://www.riksdagen.se/sv/webb-tv/video/oppen-utfragning/ku-utfragning-med-statsminister-stefan-lofven-s_H8C220201023ou2
I'm a bit adrift on the covid extension...it would apply only to Parki No 6 licence I imagine. I'm assuming Kallak south comes under the aegis of our current application, where all necessary exploration has been achieved...ie necessary to maintain the licence. It's only rubbishy speculation on my part.
Only the facts as I understand them...
Grateful you clarified a few points Pocko.
Hopefully I'm now a little wiser on the matter
Firstly, you need to distinguish between SDR’s traded on Spotlight as being ‘Swedish owned’, as there are many investors from Norway and Denmark. So it’s misleading to say that of the 70% trading in Sweden, they are Swedish owned - Because they are not.
Likewise, Jokkmokk Iron Mines AB is a Swedish subsidiary owned by BEM and is actually the holder of our exploration permits in Sweden, including Kallak. So one could argue that it is already a ‘Swedish’Company.
Does any of this actually make a difference? Who knows...
I just wondered if, given their majority, the swedish shareholders given a choice, may prefer Beowulf to be a Swedish company and how that might affect us
Takeover? By whom? A ragbag collective of private investors from Norway, Denmark and Sweden? (That’s just the nationalities that I know) There are no institutional investors beyond Starvest, and their holding has diminished over time - Assuming they still have an interest.
I suggest you read this... https://www.thetakeoverpanel.org.uk/the-code/download-code
Not a great dilution, true, but with 6 months interest, that takes the equity exchange to c. 20m shares. They will be issued in Swedish Depository Receipts which will take the total swedish ownership over 70%. Not sure if this is significant but 70% also happens to be the benchmark regarding takeovers. Could that also mean that a vote could be taken to delist from London to Sweden both in registratin and Stock Market.
Just surmising and probably way off beam
True, we have already demonstrated that Kallak is economically viable, so at this stage, further drilling would not necessarily strengthen our application - But if that is the case, why was a drilling campaign planned?
The exploration permit does have a time-limit as you correctly state, extended due to Covid 19 - However, upon expiration, BEM would have to demonstrate a drilling campaign and or other activity for it to be re-issued. So yes, maybe KB is playing the long game on that one to preserve finances - Speaking of which, the loan needs to be paid in full by the 15th February 2021 or it will be converted into equity in the form of SDR's. No great dilution will occur, but it is interesting nonetheless.
I don't expect anything particularly hard-hitting on the 27th, but I am certainly looking forward to it.
And as for Kiruna, reindeer don't seem to be an issue there? Here's hoping they find zilch... As it it might just put Kallak into perspective?
The covid situation actually helps us there because we get an extension to the time we have for exploration.
Yes, is it survival tactics? We got about 5% increase in the sp with the Wolf Mountain target...and there's no telling when the Swedish Government will deliver. If we get a good result from drilling in Kosovo we add to our value but there's no telling if more iron at Kallak would bring a decision any closer.
And having read the article, it does raise the obvious question about our own delayed drilling programme?