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Yep. Interesting to hear some honesty about Ulla's departure. I think she was out of her depth, her career (I use the word loosely) seems to be a succession of short lived posts. At least she doesn't seem to have made the new office untidy-perhaps she couldn't find it! Fingers crossed for a decent PM for Kallak.
Thanks Pocko, interesting info.
What does the financial picture look like, has the stock fallen significantly?
- Yes, but how much have shares in other companies in the industry gone down? It is not talked about. The stock market is difficult, everything can change from one day to the next.
It is not talked about. The stock market is difficult, everything can change from one day to the next.
How do you view a possible transport solution?
- Here, as I said earlier, we are looking at new technology solutions but also, as before, at the Inlandsbanan. We have a meeting with their board next week, they are still very interested. But in all this we are also talking about ports. Narvik runs an empty road, it is not sustainable.
What happens if the court gives the Sami villages justice?
- I will not comment on that. That wouldn't be right. We simply have to wait for the result.
Test drilling and measurement of groundwater as well as geological surveys have been completed and are continuing. An archaeological survey has also been carried out in the area. Here the company is waiting for results. However, the summary of the environmental impact statement has been postponed until the latter part of next year.
- The timetable that was laid out was not realistic, it was obvious early on.
Are you optimistic?
- Yes absolutely, with all due respect to everyone involved.
Interview with Röstin... Courtesy of a poster on FB.
https://kuriren.nu/nyheter/jokkmokk/artikel/ny-pa-posten-tror-pa-kallak-ska-ha-en-tydlig-hallbarhetsprofil/r4v8mn9r?fbclid=IwAR0JNIe_ESXwdWuNwnDjZnlNsKB_E77DN92bgNTFSb4YxbZIJdufu7CzhYU
Johan Röstin has a clear vision of the future for the development of the mining project in Kallak. Despite court proceedings and an empty CEO seat at Jokkmokk Iron mines. "We must achieve total, measurable, sustainability," he says.
Jokkmokk 24 October 2023 19:30
Johan Röstin took office as the new chairman of the board for Beowulf Mining in November 2022. He succeeded Sven-Otto Littorin, who held the position for two years. Johan Röstin has broad experience in infrastructure, logistics, capital investments and permit processes and has, among other things, been CEO of the ferry operator Forsea and of Copenhagen Malmö Port AB.
Why the mining sector?
- I have always liked basic industry and industries and worked on such projects. I have no direct experience with mines, but that excellence is found in the board, not least in Ed Bowie (who succeeded Curt Budge in Beowulf's board, editor's note), notes Johan Röstin, who we meet in the brand new office premises after Porjusvägen in central Jokkmokk. Here it has been built for almost a whole year.
- It's nice that the office is finally finished. It is important for us to strengthen the local presence. We want everyone to be able to come in if they have questions or anything else related to our operations in Kallak. Being close to the residents of the municipality is essential for us in our continued path forward. We must be a modern company with a clear sustainability profile.
Former CEO of Jokkmokk Iron, Ulla Sandborg, hastily chose to leave some time ago and with her also disappeared that number of consultants. No new CEO has been appointed, instead Johan Röstin will step in as operational chairman of the board. The company is looking for a project manager for Kallak, a person with roots in the north. It is pronounced.
- Ulla chose to leave, the consultants as well, which caused us to lose some momentum. But I enjoy this role and now we move on. As I said, the competence of mining operations is with us. In addition, we can use the very latest technology, and here the development is fast. These days I have been in contact with a company that is interesting with a technology solution that turns previous concepts upside down. Outside all the boxes.
How do you see the future?
- We must do everything to work sustainably and in collaboration with the local business community and, not least, with the Sami. It is our only way forward, to solve a sustainable mining operation with the least possible environmental impact. We have 2.7 million tonnes to sell. It can be counted on. Another advantage.
What does the financial picture look like, has the stock fallen significantly?
- Yes, but how much have sha
Hi SJ. Decent RNS, with a planned timeline. Yes, looks like we are six months behind, with the original PFS planned under Kurt to commence in Q2, and the knock-on effects of this delay now will impact on the environmental submission, but I’m not sure whether the revised plan of not needing to complete any further drilling for the PFS would be the same as Kurt’s former plan for the PFS. I’m trusting the six month review has scrutinised everything in intricate detail, to now enhance the quality of our environmental application and with reasonable timing.
As you say, it’s still possible that the 2026 target will be retained. It does seem from this RNS that Ed is being efficient without cutting corners.
Only my thoughts. Of course such news won’t enhance the sp at present, but we do need the Appeal decision to go in favour of the Government.
Vardar news surely has to be on the cards before long.
Dunno though. Lol.
I'd take it John means you Pocko and I agree with him...just to put you out of your misery, wondering.
What do you mean by another false alarm, Roller? I see the rise , small though the sp is as an expression of relief in that the RNS confirms something has been happening to further the Kallack project, something and not nothing, and the 'clumsily' worded RNS in May which some people claim meant nothing actually meant the something that some people thought it meant.
Still waiting johnthegolf... Of the handful of posters on here, who are the dark forces driving the SP down?
Or maybe, of those few posters, a couple actually post factual stuff? And maybe, just maybe, questionable decisions made by managemen past and present are responsible for the dire SP?
Just a thought.l
Who are these devils? Pray tell...
Wow... Some people are very easily pleased... another false alarm... should be used to them by now, good afternoon all..
So the share price has risen despite posters on this board doing their damnedest to destroy it. Keep trying folks. atb.
A poster on discord has contacted the office at the Supreme Court and received a reply. Words to the effect... 'we are actively working on it (presumably the case), and it is not waiting.'
+16% at start!
Okay up again.
Spotlight Stock Market´s down in Sweden for 90 minutes after a quick bem rise by 11,73% in 10 min. ;)
1.59 paid there
Oh it's exchange wide not bem Specific.
BEM related or exchange wide? Not been that much volume for BEM really over there.
Trading halted in Sweden...
Looks that way FF23. Perhaps we can get some funds from Vardar somehow prior to then to push us that bit further. Not holding my breath in that though. The next update must be Vardar now?
Ed had two choices - immediate fire sale or take a little time to put lipstick and a bow on the pig before taking it to market. The lipstick has been applied, next comes the bow; that will likely be a favourable court ruling. I’m fussing Ed’s time has been spent assessing the likelihood of a win in court, making the “the ore’s great, we’re going to mine it” plan look feasible and opening discussions with potential buyers from a less weak position. He’ll be hoping not to have to raise more funds by having a deal tied up before mid 2024.
Aye, it does produce hope. The PFS is now initiated and ultimately we are still aiming for 2026 so it hasn't changed the timeline. The communication has been poor. The SP needs to be alot higher quite soon really with the timeline and expense associated with it or we need a partner onboard, which is most likely imo/or sold.
Pocko, up 11% because hope is the last thing to die.
The cash burn continues with an SP further wrecked by Röstin and his clumsily worded RNS back in May.
Who pays?