Got1000 @52.9 for my son
BEM are sat on an exceptional amount of resources. They focus greatly on iron ore and are targetting production next year. They are currently in the exploration phase and have a "World class" deposit of iron ore. They are based in Sweden and have interest from the Chinese to supply the iron concentrate. They are to produce 70% Fe concentrate. The progress this company is making is outstanding and they are about to gain a JORC at their Kallak North deposit and the JORC from their Kallak South deposit is coming in the next few months. In the words of the Director "2011 will be transformational." www.mybem.co.uk has detailed research about BEM including valuations, risk, news flow etc.
It seems the mining sector is going through a difficult phase of late and as far as BEM are concerned if they can stay away from the list of heavy fallers, I for one will take this as a good sign that there may be some sentiment for this share?
Delt- If you have found this -Well done!Like I said ,We need to involve Siamanto, and a few other trusted posters?
Your comment on the open board re T/O is the way I see CSP thinking/aims at the moment, due to the apparent lack of drive?
There are the ongoing moves to production, which I see as being more rewarding,but in your view,could Ballek be his real target?
BEM are definitely going to be taken over. In fact the resources will be at a mineable stage Q1 2012, so a take over will come in around this time. It will be in the £'s as shown in the calculations on www.mybem.co.uk and the chairman (Clive) has said BEM are worth 10s of £'s.
Ballek is just a giant pot of gold with some copper. He is very keen to get on and develop this. I think it is a brilliant target and I can't wait to see it proven up. We won't have to wait long.
For me the reluctance to pump funds into an agressive drilling programme is a sign of VSPs intention to sell off the Kallaks, which I think are a bit out of his league maybe, but he has more than a yen for Ballek.
I am getting a little weary with the K N JORC delays just now?
How about CSP ? lol
Good point. He is running the project with as little cash as he can get away with. It will payout well in a takeover. Accelerating the project plan and bringing in the test mining next year is going to wet the appetite. Perhaps the deliveries to customers are actually deliveries to prospective buyers?
It is annoying that the KN JORC delay is dragging. It is coming by the end of Q2, but I would like to see it this month or the start of the next. No missing of deadlines, that is unacceptable. Having slack deadlines is also annoying and adds uncertainty. It means this is a medium and long term play and leaves the short term open to volatility.
I am wondering why we are continuing to be allowed to have the SP suppressed,which seems to be by design?
To me the whole outlook seemed to change with the realisation of just how big the resources were when CSP and Jan got a good look at the Kallaks, after K S fell into their laps.
It is a bit daunting isn"t it?
It is very daunting. At the mercy of institutions. They bought loads of shares during the placing and they will be buying more now the SP slipped below. BEM is full of PIs and this is not what IIs like. They want a bigger slice of the cake.
Everyone seems to presumethat the appointment of Fred to the BoD is related to the Kallaks. As I am not 100% convinced of CSPs intentions here,I would not be surprised if Fred might not have an important role to play in developing Ballek eventually or primarily?
I agree. Fred is there to speed everything up with regards to production and to ensure it is done correctly. He will be working on Ballek, Kallaks and Ruoutevare. Without a doubt he will be working on the other resources later.
The more I see of this leads me to believe the intention is for a sell off of the Kallaks - leaving us fully funded to concentrate on our other assets, mainly Ballek.
There is a reluctance to pump any cash into developing the Kallaks with any vigour.
I asked on the main board as to how any drilling will be paid for?
I asked because of the fact that CSP has just stated he intends to drill Ballek-which as you know, I feel is his eventual target?
This will need funding- but all eyes are being focused on the Kallaks as the sole target? I don't think this is so.
With regard to the thisismoney project-If you could post your lengthy scenario once in a while, I will keep popping in with short sharp shots, thus keeping us on top of the list.
Does that make sense?
Yep. I will provide detailed updates.
Agricola deal looks interesting. Never a bad thing to diversify the portfolio.
This happens all the time in business and CSP does have a fair idea of how business works.
If this Agricola deal comes anywhere near the Tasman deal last year, people who are knocking him now, will be calling him a Saint in years to come?
Interesting RNS today. A little annoying about the KN delay and the gross underestimate of KS. The drill sections are very good and the depth of the deposit is excellent. It is looking to be 5x the size of Kallak North which is 175-200Mt.
The BEM boards are getting a little chaotic, the information sharing has become somewhat diluted and sparse. Not the most pleasant place to be at the moment.
I've had enough of this
Good luck with your investments
The admin are well onto him now. Let's get the boards back on track. I was feeling the same when I wrote that message on 30/06/11. Looking forward to the JORC coming.