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.About the business of how and when.....will they phone Kurt...does he have two RNSs already prepared? Does it mean the decision has to be communicated on a Friday evening? Does he have a gnome reading his e-mails?
Yes, of course, so it was. Have you ever been involved in a private placing?
Actually Suzy now you mention it I seem to remember that, but of course it was a rights issue not a placing :-))
Morning All. FarEnd.....Good point but not so; CSP made a placing (think it was 2.75p) but it wasn't very well supported....it isn't that efficient a way of raising the money, costly and slow.....and it's fair to say the sp held up very well after the previous two. Another opportunity, I might be reckless enough to have a few more myself later. Sigh!
Howdy SJ74, nice to hear from you. ;-)
That's the thing, the drilling isn't planned until next autumn it sounds. We should of had a decision well before then. Certainly still hoping before the year is out.
At least there is plenty going on around kallak, and with vardar aswell. Not heard from graphite in a while. The trouble is, without the concession we aren't doing the main progressive items such as drilling, scoping study etc. We are still effectively treading water with kallak until the concession
good point - The CAB's main argument was that kallak would only last 14 years - if this new drilling comes up trumps then that argument is blown out of the water. I'd hope we'd have the licence by next Autumn though!
Trigger happy insiders tintin ? Thinking back earlier this week we had a fair drop tuesday ,knowing about this (?)then back a bit yesterday (knowing only 2% maybe) , no shifts in sweden ?
moving on to how they declare the decision on kallak - why suspend? They say they will tell Kurt out of hours and he will suspend the shares - but if no one can buy/sell till 8pm the next morning, what's the point?
A very reasonable amount to secure the current position,mentions costing of legal advice on there somewhere. I just cant imagine taking on further exploration license without knowing of an impending positive decision.
Yes, remember looking at the Parkijaure zones and a lot of speculation about vast quantities south of Kallak, this Pacific project is interesting, seismic imaging being far cheaper and greener than to test drill everywhere in the hope to hit good depths.
A placing right now is a pain the arris but expect to see the the SP recover pretty soon.
Kurt’s levels of delusion over Kallak and the “ anticipated decision “ are getting out of hand.
At least he has secured his £3k a week for another year or more for doing very little.
This one is far more interesting than the placing RNS. Right now, why would you pour more money into Kallak? What is going on behind the scenes? It casts my mind back to the CAB ruling and their objections. First, the importance of reindeer herding. I think they've lost that one as we have seen a number of key people state that both can be accommodated, as they have elsewhere. Secondly, the proximity to Laponia. That was never a valid argument due to Kallak being outside the exclusion zone and, as a number of articles pointed out, much further from Laponia than currently active mines. Thirdly, CAB disputed BEM's expected mine life and claimed that the mine would only last for a short period of time, 12 years I think? That was for Kallak North only of course, and only using indicated resource values (there is undoubtedly much more at K N+S). I believe this move is to prove that Kallak has the potential to become a long term iron ore mining region on a scale to eventually take over from Kiruna. My only concern is that if the company is investing more money in the Kallak region, there should be legally binding assurances from the Government i.e. prove the resource size and we will grant the mining concession. Of course it could be argued we've already done that!
No investor in BEM has ever had the opportunity to take part in a rights issue because there has never been one.
Just saying.
Testing of the multi-array method in parallel with drilling is planned for Autumn 2020. In anticipation of the Exploitation Concession being awarded for Kallak North, the Company would then consider a follow-up programme of drilling at Kallak South and Parkijaure.
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"In anticipation of a decision on the Exploitation Concession for Kallak North, we have been investigating how we can add to the potential 250 million tonnes global resource defined at Kallak North and South.
"Having been awarded the Parkijaure nr 6 exploration licence, we are reviewing existing geophysics and have already begun testing passive seismic technology at Kallak, with a view to using this non-invasive exploration technology to help define additional iron ore resource.
"For a typical mining project, the mineral resource increases as the full potential of a deposit is explored and proven-up over time. With iron ore in Sweden, a good example would be LKAB's Kiruna, established in 1890 and still producing today.
"I look forward to keeping the market updated on further progress."
Looks like Kallak is very much on the agenda - the green methods of working shoudl satisfy any criticism of our mining methods - plus EU grant.....
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that the Company has been awarded an Exploration Licence for Parkijaure nr 6 which covers almost 1,000 hectares, situated to the south of Kallak North and South deposits, and which is similarly prospective for magnetite iron ore.
The magnetic signature of mineralisation at Kallak, extends southwards from Kallak North to Kallak South, and then beyond to Parkijaure. Interpretation of geophysical data suggests the potential for additional magnetite mineralisation, which could add to the Kallak North and Kallak South resource.
Parkijaure Geophysics
This week, Beowulf has awarded a contract to GeoVista AB in Sweden to re-assess existing geophysical data and determine if an additional Exploration Target is warranted at Parkijaure, to add to the Kallak South Exploration Target.
PACIFIC Project
Beowulf is a partner in the European Union ("EU") funded PACIFIC Project ("PACIFIC"), launched in June 2018. The project has received €3.2 million from the EU's Horizon 2020 research and innovation programme and has a 36-month programme of activities being coordinated by Université Grenoble Alpes.
The aim of PACIFIC is to develop a new, low-cost and environmentally friendly tool for exploring for sub-surface mineral deposits. The PACIFIC consortium is conducting fundamental and applied research to develop two radically new and complementary mineral exploration techniques, both based on passive seismic imagery. See project website for more information: https://www.pacific-h2020.eu/
Kallak, including Kallak North, Kallak South and the Parkijaure licence, has been chosen as one of two PACIFIC test sites.
At Kallak, Phase 1 work includes:
· Testing the multi-array method over the known magnetite iron ore deposit to provide background data;
· Establishing seismic properties for the iron ore; and
· Correlating findings with the geological model for Kallak.
Testing of the multi-array method, using an array of receivers at surface, was conducted at Kallak South in September 2019. In early 2020, a similar survey will be conducted at Kallak North, followed by interpretation of the data and correlation with the existing geological model for Kallak North and Kallak South.
Phase 2 work will include:
· Testing the multi-array method in parallel with drilling at Kallak South and Parkijaure, with noise from drilling providing a passive seismic source.
· Testwork will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify previously undiscovered magnetite mineralisation for the Kallak South Exploration Target areas and for Parkijaure. This work would help better define drill targets for verifying test results and resource drilling.
Testing of the multi-array method in parallel with drilling
Down 5.5% in Sweden. More realistic
Yep, typical MM tactic; catch the people who only see the headlines or panic, pick up some shares on the cheat and sell them later when rationality returns. I couldn’t see in the RNS any detail about the placing being underwritten but I guess it is or did I miss that. Interesting it was a placing not a rights issue.
Well someone knows something.....
Typical that it goes down to placing price but very temporary imo. I can sell for 5.8p but can't buy any. Watch it go up later. Like you say, only 2% of the company.
at 5.5p :( but only 2% of company...
Doh. I thought it too good to be true.
Very sane post from Cryff this evening on the to be or not to be battle that has been raging over there. :-)
Hello Sssmajl. We did OK today, yes.
Could it be tucked away in there? Matters arising from the last time it was on the Minutes, when it was I can't remember.
Hmm...what's up with the BEM share price today: up 7+%?
In Sweden we're down 2,34%.
//Sssmajl