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I think its a P90 (90% probability) of 40p. I would love for someone to tell us why not.
At 77p I'd be extremely happy and mortgage free...good luck to us all....
20p reasonable?
Here is a very amateur shot... 25million tons iron ore, $121/T = 3 Billion.
Assume 70% recovery (pure guess) = 2.1 Billion
Cost of recovery 40% (thats a pure guess) = 1.3 Billion
1.3 Billion / 600,000,000 shares = $2/share
Plus the other assets that BEM have.
Lets say I am way optimistic and half it to $1/share thats about 77p a share
Im sure there are people here who have a better idea than me, but 20p..... come on guys
Thanks..I missed that.
Notice : Committee meeting 2020/21: 6
Date and time : 2020-10-13 11:00
Place : RÖ7-08
1. Adjustment of protocol
2. Notifications
3. The composition of the government and the organization of government work
Preparation
Rapporteur: SS
4. Appointment
Committee Preparation
Rapporteur: JD
5. The Government's handling of the application for a processing concession for Kallak - G11
Preparation
Rapporteur: JJ
6. The Government's actions in connection with a permit matter regarding the expansion of a refinery in Lysekil - G25
Preparation
Rapporteur: LW
Thanks Suzy , Kallak is itemised on agenda if you click on day's proceedings
Evening. Alamal, Suzy2|3cardbrag.
Thank you for the reply Alamal. SP forecast is not easy. If we are awarded the concession, then KB should have a plan that he wants to implement re, what, who and over what time scale, because BEM and Kallak would both have a future! A very different investment package on offer (much lower risk) to all investors. It is premature to crunch any numbers, what we do know is, there is hundreds of millions of tonnes of very clean ore, this alone, is a saving of hundreds of millions of dollars on energy costs. Kallak(s) would be a generator of serious cash over its mine life. How attractive would this be, if a concession is awarded? – Hopefully we will find out. If 20p SP doesn’t get smashed, someone wouldn’t have done their job correctly. Just my opinion, only. atb
Nothing about us on the Agenda but still very interesting, especially the bit on how the Committees work:
https://www.riksdagen.se/sv/utskotten-eu-namnden/konstitutionsutskottet/?utskstatus=alla
Aug. Perhaps not a very scientific way of looking at it but based on the year 2013 when we applied, I feel a 20p per share would have been reasonable on a decision. But 7 years later, the number of shares in issue is roughly double without anything like a doubling of company assets, as, much of the money raised has gone on running costs and salaries. Should I therefore have to accept 10p per share? I suspect a yes decision will come with a multitude of swedish caveats and we would still need a JV partner to do the mine. So maybe we are no longer looking at life changing rises. That said I sincerely hope not, but just don't want to get carried away.
This is what Kurt told us in the 14 July RNS:
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"A recent increase in COVID-19 cases in the region and continuing movement restrictions mean, at this time, it is impossible to commit to the drilling programme at Kallak with any certainty.
While disappointing not to be pushing ahead and exploring for additional iron ore resource at Kallak South, it is the right action to take."
Hi lb. I'm not sure about the Covid restrictions re travel into Sweden from Finland. Wasn't the drilling team from Finland? If they were under lockdown in Finland and we had already contracted them to drill, that could have been one reason why we couldn't do the work at Kal. The drill team having to stay put. The problem is that Kurt wasn't too specific in the RNS re us not drilling due to Covid. Difficult for a number of us to accept that it couldn't have commenced, considering the location being pretty remote.
Another idea is that he just decided not to spend the cash, without us first having the concession.
I don't know.
Haven’t looked in for a while. Seems I’ve missed nothing.
Baylan is certainly as snug as a bug in a rug in his comfort zone. Sadly, so is Budge.
Both happy to keep taking the money and knocking off early. My suspicions about Budge losing interest were confirmed when the drillin at Kallak was called off for Covid related reasons. In such a wilderness, that was clearly utter nonsense.
Baylan has not been uncomfortable enough to do anything about our application, even though he is fully aware that we have been considering legal action and could do so again. Any embarrassment only lasts when he is questioned about it, then it obviously quickly subsides. He is in a comfort zone, in my view, precisely because of his sturdy brass neck, but he will come unstuck with the right rocket. You are right, a scandal.
Kurt can still bypass Baylan. x
Yes, Eric, very pleased rather than excited, it's given us a boost and it's surely due to the recent report on the quality of the Kallak deposit together with the funding arrangement. But I don't imagine Baylan's zone is that comfortable and he certainly looks uncomfortable when speaking about it as well he might, it's a scandal. Aug. Our little snow geese goslings are going to be absolutely gorgeous. :-)
Apologies for typing errors, I'm typing on a tiny phone with my fat hands.
Al, I doubt too many long-term investors were that excited over it. We are only seeing a review of the Government's handling of our application. It won't mean that the Government will suddenly do anything quickly now, just because this review is on the agenda. Minister Baylan has known since before February, that we were considering legal action, and although we decided against taking it back in Feb, Baylan has had the brass neck since to do continue to do nothing by way of moving our case along to its conclusion, and has even ignored our Company's letters.
So as a review is a review, and not a legal demand to bring a decision for us within a certain time from now. I doubt old Baylan will raise an eyebrow over it, I feel, not until he receives a letter from our lawyers, and he is hedging his bets that Kurt won't action one. So far, Baylan is still in his comfort zone, no decision, no upsetting the Sami or Greens. No harm done! Excuse is that the matter is complex. (Guffaw).
I'm finding it difficult to get excited then. I must trust also, that Kurt is not relying on the KU to do our work, because he shouldn't be. Giving them information to assist in their review is good, helpful, but he surely mustn't then just sit back and see what occurs after that. This would be taking our own matters out of our own hands.
Get me bruv. Lol.
Hi there AUG hope you are well, we sure have been here before many times over, when there is hype like last Thursday/Friday the share price rises, everybody was excited over the weekend with people banding about the price being double figures,,when we do get some sort of news down the price tumbles, it feels like pulling teeth, Maybe I am too old and fed up with it, good luck
Already posted yesterday tintin
Afternoon. Alamal, a question if you please. Just to help me with the “doldrums”! If a concession is awarded, and that KB does not express any concerns regarding the small print, at what figure do you think that SP could peak at say, over the one week period following that announcement? Over seven years now in a process, where we have had bullsxxt aplenty over the last three years at least, is not without purpose. Are we perhaps to expect, that a resource of Kallaks size and quality, would pass as little more than some none event, should it suddenly be de-risked hugely! That’s hard to imagine. I am genuinely interested, a little chicken counting is harmless whilst we wait, and we have all been wrong before. Thank you. atb
1. In response to the committee's previous question 2, the response promo states that preparation of the case has been ongoing within the Government Offices since March 2018. The committee wishes to report on the preparation measures that have been taken, including the extent to which the case has been "r joint preparation.
The current case is very extensive and complicated.
The preparation measures that have been taken in the case since March 2018 include the preparation of legal investigations and draft decisions.
The joint preparation has not yet been completed.
2. Has within the Government Offices has an assessment been made of what further preparation measures may need to be taken?
At present, no further preparation measures are deemed necessary.
The letter that Kurt Budge was sent in on the first of October, has been registered and they replied as follows:
From: Peder Nielsen
Sent: October 2, 2020 11:18
To: "Kurt Budge"
Subject: SV: Beowulf Mining - Kallak
Dear Mr Budge,
I have received your email with the attached documents and will inform the Committee.
Regards
Peder
------------------------------------------------ ----
Peder Nielsen, Head of Secretariat
The Committee on the Constitution
The Swedish Parliament
Then on another occasion more questions and answers were asked, including
3. What action1; 01: organizational and other, has been taken to meet the requirement for urgent and legally secure processing partly at the relevant unit within the Niilingsdepmtementet, partly in general within the Rege1ingskansliet at the units that handle administrative matters?
In June 2018, another administrator was employed at the unit responsible The
Ministry of Trade and Industry regularly monitors the number of open cases with special focus on older cases. The Ministry also holds regular training for employees in, among other things, case management and the requirements of the Public Administration Act.
The Yellow Book (SB PM 2012: 2) states that it is important that the government's administrative matters follow the principles expressed by the Public Administration Act, even though the government is not an administrative authority in the merits of the law.
What time is the meeting today?
lets see what they have to say.
Not quite the doldrums but a step closer to the end game.
So there you have it hasty back in the doldrums again,
6 February
1. In response to the committee's previous question 2, the response promo states that preparation of the case has been ongoing within the Government Offices since March 2018. The committee wishes to report on the preparation measures that have been taken, including the extent to which the case has been "r joint preparation.
The current case is very extensive and complicated.
The preparation measures that have been taken in the case since March 2018 include the preparation of legal investigations and draft decisions.
The joint preparation has not yet been completed.
2. Has within the Government Offices has an assessment been made of what further preparation measures may need to be taken?
At present, no further preparation measures are deemed necessary.
The letter that Kurt Budge was sent in on the first of October, has been registered and they replied as follows:
From: Peder Nielsen
Sent: October 2, 2020 11:18
To: "Kurt Budge"
Subject: SV: Beowulf Mining - Kallak
Dear Mr Budge,
I have received your email with the attached documents and will inform the Committee.
Regards
Peder
------------------------------------------------ ----
Peder Nielsen, Head of Secretariat
The Committee on the Constitution
The Swedish Parliament
Then on another occasion more questions and answers were asked, including
3. What action1; 01: organizational and other, has been taken to meet the requirement for urgent and legally secure processing partly at the relevant unit within the Niilingsdepmtementet, partly in general within the Rege1ingskansliet at the units that handle administrative matters?
In June 2018, another administrator was employed at the unit responsible The
Ministry of Trade and Industry regularly monitors the number of open cases with special focus on older cases. The Ministry also holds regular training for employees in, among other things, case management and the requirements of the Public Administration Act.
The Yellow Book (SB PM 2012: 2) states that it is important that the government's administrative matters follow the principles expressed by the Public Administration Act, even though the government is not an administrative authority in the merits of the law.
Sorry weird characters, copied from a pdf.