The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Sorry for the error...meant EB of course.
Good find Eric..and .that comment from ED that the departures don't affect the schedule, interesting.
Interesting article, Eric. Boden, between Lulea and Jokkmokk, about 20 miles from the former and 85 from the latter. A good place to put a steel plant if you wanted to use iron ore from up the road or imported by sea or both. It’s very good news for the value of the iron deposit at Jokkmokk, whoever’s going to dig it out.
Apologies. The article is from SVT Nyheter, not Svemin. Sorry for the error.
Also from the Swedish FB Group. Translated via Google. Ignore the part of the translation at the end, unless you want to listen to the clip on the link. But translated the article in its entirety.
https://www.svt.se/nyheter/lokalt/norrbotten/18-miljarder-sakrade-for-att-bygga-stalverket-i-boden--k95rr2?fbclid=IwAR1ze6Qnq1e2I_xC6v-s07qVza-WvkJfD0y6vlRMPaPgn_z7RCDl2H6hZMg
18 billion secured to build the steel mill in Boden
UPDATED YESTERDAY 15:28 PUBLISHED YESTERDAY 05:34
H2 Green Steel will build the world's first large-scale facility for fossil-free steel. Now the company announces that the last money - 18 billion - has been secured to finance the project.
According to the company, it is Europe's largest capital raising so far this year. In addition to the steel mill, a hydrogen plant will also be built for the money.
- This is the start of the fossil freeing of the basic industry on an industrial scale. Large investments will be necessary in the coming decades to produce end products to meet climate goals, says H2 Green Steel's Otto Gernandt in a press release.
550 hectares large
The goal is for the facility to deliver steel with up to 95 percent lower carbon dioxide emissions than steel produced with blast furnace technology.
The total area of the industrial park amounts to 550 hectares.
- By the end of 2025, we need to have a little over 1,500 people on site in Boden, says CEO Henrik Henriksson to SVT.
Backed by dragons
The group of investors is led by Altor, GIC, Hy24 and Just Climate and dragons such as AMF, Stenbeck and Wallenberg support with capital.
Today's announcement means that the 50 billion that H2 Green Steel budgeted with is secured.
Hear Henrik Henriksson, CEO of H2 Green Steel, about the steel investment - and when the recruitment of employees starts in the clip.
Interesting him saying that he doesn’t think it affects the schedule at all. We haven’t had the Kal PFS start in Q2, and we’ve been told that our environmental submission won’t be this year, so it seems to have affected the original schedule, but it depends if he means a new schedule. He didn’t specify if he was referring to the existing one. Lol. Canny.
Good luck to us.
Dated from yesterday 7 Sept. Brief article on Dagens industri website (taken from the BEM Swedish Facebook Group and translated via Google):
https://www.di.se/nyheter/kontroversiella-gruvprojektet-pa-vd-jakt-efter-flera-chefsavhopp/?fbclid=IwAR16LQEshhZs2wfQh__YufndCB-fDzA4EhTj4fXaN0BHTRhRjf4z1G-97iA
Translated:
Controversial mining project on CEO hunt after several executive defections
Luleå. The controversial mining project Kallak has been shaken during the summer by several executive defections.
"Honestly, I don't think it affects the schedule at all," says Ed Bowie, new CEO of Beowulf Mining.
Good though. I suppose we have the chance of change now we have a new CEO. Time will tell whether it’ll be for the better.
Bye for now.
Cheers Eric.
Like a bad penny, me. Keep turning up from time to time
3card
Hi 3card. Yes, I don’t think any of us are getting carried away, the RNS yesterday was better than the norm here, so it is something to note. We need many more of them. Grafintec appears to be the only project that is progressing this year, news so far points to that. We may hear news of Vardar before long, as there had t been anything significant since we parted with our £250k way back in January. Kallak, we’ve got the Sami appeal still pending and obviously the PFS didn’t commence in Q2. A bit of a let-down, but it may have been BEM that put it on hold, not Jokkmokk Iron.
I appreciate your ongoing concerns and sitting out to see how things go.
Keep in touch.
🙈
Thought I'd pop my face in and see if anything happened lately. Can't believe it's over 18m since kallak concession granted and still nothing on the horizon.
Ironic that in the pre concession days posters were saying that kallak was a company maker and that the sp would collapse without it, notwithstanding the two newer projects. And yet despite getting concession, sp has still collapsed and now we even have posters saying grafintech not kallak is the future.
I want to believe one of these projects will finally push bem into something massive but so often have seen these minnow companies move from one project to the next, all the time using shareholder funds to prop up well funded executive salaries.
Staying on the sidelines me....for now anyway
And a baby is only a beginning. ;-)
The exploitation wait was the majority of that time under Kurt’s tenure, not under Clive’s though Sooz, and yes, there were some mishaps along the way, but the general progress was fair. We proved up part of a resource to mineable JORC standard while Clive was here. Not much of an additional proving up under Kurt, and nothing still on KS. So I would say the vibe generally in those days under CSP was better. He could deliver news which drove the market, both ways. Lol. But his “What local people?” comment will stick with him. Kurt had the more difficult task, doing everything he could to secure the concession, with comprehensive additional information, so that was a good thing he did.
But we now need to drive that positive market sentiment again, and early days, but Ed and Mr Schauman could just be the guys to get us out of a fix.
We shall see. You and I have been here for absolutely ages, so you’ll have to refresh my memory if I get things wrong or carried away as I stumble into my dotage. 😂
Gaining that concession was a very long pregnancy. But we pushed now and then, were patient, and it came. Lol.
Eric...It wasn't always sweet news...drilling coordinates lost through extreme snow conditions on KN and an unsuccessful drill on KS because of inadequate information on the map or something like that. We couldn't raise money and the wait for the exploitation permit didn't come and didn't come... for nine years How easily one forgets the pain of birth! Lol.
Someone has bought a large amount this morn, at what could be a steal. Best of luck to them. Time will tell of course. We need more RNS news that will wake up the market. Although it was from what seems like a different era, lol, CSP was decent with the news. Regular updates, but a lot of drilling in those days, so it was a sweet vibe. 😂
It’s so easy to tell us what is going on and why really, so long may it continue. At least we know there is a strategy for sure with Grafintec, help being drafted in to assist accordingly and so on. The aim of Grafintec. Good. Seems like perfect timing.
Yes, decent update really. Plenty going on with grafintec and the reasons why. Not hard to see where the priority is with bem now. At least that is a project that is moving forwards.
Must have been the RNS yesterday. It was decent news, informative. Good to see, with nobody having cause to complain about it, myself included.
It is and maybe it’s headed for Swedish market, but it’s good to see any buys and upward movement in SP.
Not often someone drops £14 on BEM shares these days
Yes, decent RNS, pleasing.
Sooz, I received an email this morning from BEM telling me the same thing re subscribing for future email updates. All previous RNS updates via email had ceased since Kurt left. I’ll be subscribing to the new service. 👍
Good stuff today.
Or rather...having now read it, a notification of a change in the procedure for getting them.
And we're getting the e-mails again...things are definitely looking up. :-)
Maybe it's because I'm desperate to hear something positive but that to me seems very upbeat and very positive... enjoy the sunshine everyone..