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I dont know much about TYM Storuman, Sweden but on 14 Jan 2000, TYM's share price was 32p!!!
So, I decided to attempt to find out what project/s did TYM have to command 32p? Of course, I realise it could be expansion of funding thru the years but still, so any old timer's help would be helpful to us all. At TYM Storuman https://www.tertiaryminerals.com/storuman-flourspar-project-sweden , it gives MINE LIFE of 18 yrs, Gross CASH generated over life of mine $616m etc via SCOPING STUDY. The price used for FLOURSPAR WAS US$303/ton per study.
LAST TYM STORUMAN RNS DATED 7 SEP 2023 via Sharetalk mentioned MINING INSPECTORATE'S 2019 decision not to grant exploitation application concession ANNULLED. This is now NOT surprising given what is tweeted on Twitter about the change of heart with a mining friendly new govt? Ah, not only that but it is a CRITICAL MINERAL for EV per title.
Let's hope that Sweden can work quickly through the jam log of lifting annulments etc. I dont know what was the PROJECT/s in 2000 that gave TYM such a high share price so look forward to some helpful guide on what happened? Thanks. News, Sat, 11 May 2024. TYM 0.09p , mkt cap £2.45m when I first entered recently as I chanced on Kobold JV with TYM.
Re Sweden
Great research NEWS.
Its an interesting development and about turn from the swedish gvmt with potential positive implications for TYM
Thanks for your research News.
For more up to date information regarding Storuman it’s worth listening to PC’s “Investor Meet Company” Presentation of 20 December 2023 (See attached link). From minute 46 of the presentation Patrick provides a Storuman update which includes a current (@ Dec ’23) Fluorspar price of $450/ton and a gross value in the ground of approx. £1bln, which is obviously a significant improvement on your earlier figures.
Presentations | Tertiary Minerals
Correction $1bln
Well two or three years back when it was announced by the Swedish govt we dropped loads (usual AIM climb a little on any good news / get slaughtered on bad) so if this gets us up at all then it will all add to our direction of travel for the share price at the very least.
I’ll go and trawl through the historical data seeing as I’m lying by a pool in the sun in Bodrum with nothing better to do
Crickey the appeal on the basis Flourspar being on the EU list that we challenged, was back over 5 years ago in 2018 the actual notice was earlier still.
That was a period when the share price was on a seismic slide .. with raise after raise done in the period after our appeal failed, however it makes it impossible to see the effects, and what now that should help in reverse.
When I look back at all the RNS’s and all the failed this, failed that it strengthens my belief that this is why (to date) with this 3 million mkt cap that we go along under the radar somewhat.
Disconnect is I believe caused by our history, not what’s going on now.
It looks like the Storuman application was again rejected back in February, due to conflicts with reindeer husbandry in the area, however the option is still open to modify the plan and re-apply.
Here's the article I found in Swedish:
https://www.svt.se/nyheter/sapmi/lansstyrelsen-sager-nej-till-gruva-i-kyrkberget
and the Google translation:
"Tertiary Gold wants to open a mine at Kyrkberget in Storuman. But after being refused, the government decided that the application would be re-examined. Now the county administrative board has said no again, as it is considered that the location of the mine interferes with reindeer husbandry. The company Tertiary Gold wants to open a mine near Kyrkberget in Storuman. But the Norwegian State of Norway denied permission for mining at the site, citing that it would disrupt the reindeer husbandry in the area.
After that, the company appealed to the government, which in September last year decided that the application for the mine should be tried again. The proposed mine would mine the mineral fluorspar, which is considered a critical substance within the EU because production is low, and the government stated that there are two national interests in the area, where reindeer husbandry is one and valuable substances and minerals are the other.
Get rejected by the county board now the county administrative board has concluded that the two national interests cannot coexist at the site, reports Västerbottens-Kuriren.
The mining operation must be adapted so that it can coexist with the reindeer industry, says Magnus Langendoen, head of unit at the county administration in Västerbotten. The reason is that the proposed mine's sand storage and clarification pond are located in an area that constitutes the reindeer husbandry's core business.
However, there are still opportunities for the applicant company to get its application through if other solutions are found. Should the applicant come in with a revision of the application, we have the option of re-referring the case to the county administrative board and, in case of possible approval, grant the application, says Bergmäster Helena Kjellson."
From the September RNS.
The Storuman Project once underpinned a much higher market capitalisation for the Company and whilst there is no immediate intention to allocate significant resources from other projects.
I see nothing else that says that they have now allocated resources so this asset is still shelved. Same as the Nevada gold.
No decision has yet been made following a review of the Storuman decision by the Government. PC himself has said this.
The decision is to be made by the Swedish Mining Inspectorate alone, following Government guidance to review the earlier decision and having regard to Swedish national & economic interests together with energy transition issues, now at the fore. The Norwegian Government nor the county administrative board you refer to SeisNav have primacy here.
I understand that the Mining Inspectorate have completed their review, the final stage of which provided for interested parties to submit views by April 30, a deadline now passed. The Inspectorate are understood to be in a position to give their decision very soon.
Where are you getting that information from because it seems to contradict the article? Also, the Head of the Mining Inspectorate, Helena Kjellson, is quoted at the end of the article.
Anyway the company should be able to confirm the situation, I’ll try contacting them this week.
I don't know where the information in this article , dated February, originated but it's certainly at odds with the company's understanding who are awaiting a decision. If a decision had been made we would know about it. The company has an obligation to inform the market and shareholders immediately of any such decisions and they haven't.
The main focus is the drill in Konkola anything else will just add fuel to the fire, just remember how little interest their has been so far from punters, they are slowly starting to pull up for the 1p plus party. Will we get results this week? Kobald hve already told us it’s going very well and they are experts in the sector!
If you view the copperstone resources decision then their copper mine has been given the go ahead with natura 2000 and reindeer husbandry provisions (which I think were covered in the tym original application)