The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Morning.. Thank you ADF.. These people love talking Green do they not.. Self – driving vehicles, and then paradoxically they mantra the creation of 500 jobs from a sustainable mine at Kallak.. So, a skilled dump truck driver, will get to deliver pizzas, pocketing 10% to his previous income, Whilst our sell- out politicians in the West, dream up more Green policies which will result in the export of more well paid jobs to far – away places where planet protection is of little or no concern to the state machine.. Green? BS!.... Rant over!
Electric Self – driving vehicles, modern conveyors, x – ray machines which can now determine the ‘grade’ of ore as it passes through and other latest ‘green’ goodies are very costly and will initially, represent a higher capital investment to build a functioning mine, the upside is of course, lower energy use, is lower production costs, and should be easier to gain Environmental permits in respect of any considerations for an increase to annual production Tonnage down the line, one would have thought.. Noteworthy is, the ‘trend’ for higher prices (two – tier) for higher grades is expected to continue.. Kallak is super – high! $$$
Kallak’s high – grade very clean ore, and Green steel is a good fit in every respect, including timing.. There are other Green mills planned/being built across Europe at this time? $$$..
Suzy2 – I have to disagree with your elephant in the room being the appeal.. Of course, its not helpful to have more uncertainty hanging over the SP, but, we were in an application process for well over nine years, JIMAB the applicant, requested that the application went back to the Government following the Norra karr ruling, and the main objectors were, on more than one occasion, reluctant to engage with the applicant (‘process’).. KB went the extra to try to engage with the Saami throughout since 2014.. The objectors position was, – no mine – no negotiations, End.. At less than a 2P SP, the risk/reward department should have more action on the buy side.. You do know my opinion as to why this continuous slide since the award (the concession being loaded).. The powers want and politically need a Green omelette, then they will have to crack the Kallak egg, because importing more clean ore from far – away places is not Green, is not an EU policy objective, nor a vote winner, so I remain positive that justice will be delivered..$$$.. IMO.. atb
https://nordicironore.se/en/about-us/market/
Pocko, no basis in reality? The reality is, you, like some others, may have written your BEM investment off, but you and others, are yet to say that you have sold out! So, you and me both, see clean,71.5% iron delivering a pay day, but we ‘both’ wanted it yesterday? If that’s wrong or you have another reality, give it to me, I’m always prepared to change my position. If for example, you think importing more iron ore into Sweden from South America, won’t get a big hearing somewhere in the application for permits, then you are free to say, why not.. And btw, US Came to BEM to make some money – thank god! A difference of opinion? It sometimes happens! atb…..
Morning.. lbjj, trying to stir the shxt again I see! Self – help group? You are the regular poster who is not invested? Help? For who? Anyway, lets put the shoulder to the wheel.. We have been told that green steel plan to import high -grade ore from far – away places.. To be shipped thousands of miles, from where the ore was mined, and from where the Environmental Laws re mining are less strict than in Sweden.. This fact, undoubtedly, strengthens all arguments in respect of any granting of Environmental permits for Kallak North, given its ideal location, Very clean ore, Sweden’s Environmental Laws, and so much political capital being spent now, on the so - called ‘Green transition’.. Those who would like to be involved in Kallak’s future will appreciate this most imo.. So I ask, do you think that we will learn of any proposal put forward for NK, by any interested party(s) before the Environmental court makes its rulings? I do, with caveats of course! The CEO US, making some positive moves of late – further granting of more options, first? Then big news? atb……
Afternoon. Echo chamber? HELLOOOOOOOOOOOOO.. Ok then, why were we told that only the BEM CEO and the Chairman were attending the ‘fastmarkets’ in Stockholm, but no mention of Ulla Sandborgh attending? Most odd? So, in the event money bags who might have an interest in Kallak’s future, want a chat in some detail as to how exactly, JIMAB thinks the Environmental court will interpret condition(s) xyz attached to the concession, the recently appointed CEO who has much permitting experience, and is now fully up to speed and has full control of all preparation work, in order to submit an application for the grant of permits, apparently wasn’t at hand to offer some early, valid input that could have perhaps helped to cement any further interest? WTF was that all about then? Own goal? – Never! atb…
Evening.. Oaktree, a Kick in the Bxxxxxxs for Kurt? You did plenty of that, as did some others (calling for his head), even AFTER a number of RNS’s informing the market that BEM were in discussions with others including potential partners.. Not a good idea at all that, not when we are in a money play, that for example, gives full weight and more to those shouting, ‘an erosion of culture’ whilst hovering in a helicopter trying to find LAPONIA on google earth.. atb…..
Morning.. Perhaps we may get some indication or more, in the not too distant, that those meetings in Stockholm this week have been “highly productive”.. Now, that wood be a rum’un, wun’ut…
Stockholm is to be where the big players in mining/steel do learn that the Kallak deposit does exist, and that BEM’s SP is at 2p? Really? Private investors have had to take some sh’t here over the years, and it’s all been of the 71.5% quality..
And perhaps we shouldn’t forget, it was the ministry alone who fkd far too much with the legal submission for their end, and not any CEO, who’s options had then been restricted, or indeed any BB subscriber..
Good luck to Kurt Budge! atb….
Morning.. Pocko, My optimism? Never been more optimistic about Kallak.. Reasoning? Too many reasons to mention, without upsetting half of the BB users who are heaping far too much blame imo on KB.. Each to their own as they say.. The SP is disappointing for everyone, even for those who sold 30% of their hold between 16P and 20P in recent times.. Yes, it is!
Just when JIMAB are about to apply for Environmental permits, and Kallak couldn’t look more ‘Green’, well bxgger me Greta, Green steel reveal that they plan to import iron mass all the way from South America, and South Africa? I’m sure US will know how to take full advantage of those Green politics and sell Kallak in a big way.. All clever stuff this me thinks.. Well now, H2’s days of signing further contracts are not over, or indeed over for other Green mills being constructed across Europe who would like their ‘top notch’ coming from a little closer than S America/S Africa/other.. South America - versus - down the road? Please! And on that front, will we see Greta now arguing how wrong it is to import from far away, when the same, even better, is on her own Green patch? Never!!! Trial agreement? Sounds about right.. atb…….
Pocko, we each will have something of a different take on this last difficult year.. Do I think there has been a handshake re Kallak’s future – Yes! Will we learn more when only the politics + details fit – I guess so.. Why so? Thor had the power, why would he not use it in this way – a good deal is when there are provisions made, and some compromise for all.. Both the minister and the applicant needed to move forward (nine + years).I appreciate you see it different, and I fully understand that.. IMO ONLY..atb….
Evening.. Suzy2, good comments, well done! Given the quality of all the Kallak data to date, given the global demand for such is to become greater, together with many other important fundamentals – EU/Green transition, market location, Green steel etc,etc, then it’s inconceivable to imagine that no serious player has not registered full interest in Kallak’s future with BEM before today.. If, KB has indeed been in serious negotiations with other(s) re Kallak’s future, we would not be given any details prior to some agreement to report (detailed discussion(s) not recorded?). Record of any such meeting(s) having taken place, well, he has reported discussions with others including potential partners in the RNS’s.. So he would be good on that!
So why nothing to report on the money front? Anyone’s guess! As the conditions/caveats attached, are “far – reaching”, perhaps there is some reluctance to commit until all of the legal details within any Environmental permits are known (TPA = $) Perhaps some hold off until the appeal outcome is known, although I would doubt that as that could be easily covered with straight caveats.. Perhaps, nothing or something else.. This has been, and does remain hugely political. …Who knows! Imo.. atb……..
Pocko, I hear what you say..More details from KB? He could report diamonds found at Kallak, and the SP wouldn’t flicker.. Since the award, the market ‘need’ to know, who will put some serious skin in this game of what is, mostly politics, and what exactly, is in it for them, and us investors! We need news that matters! We would feel a whole lot better when the SP then rises..Delays and arguably, other projects have proven costly to date! We have deposits with real promise, but we now need over the short term, commitment with the promise of money and direction! But, it must be the right deal for us and Kallak imo..
Ibjj, What? Don’t move the goalposts.. Let me help you to come out.. When the others have retired for bed, you can whisper to me how many million BEM shares you hold. I think that you have bitten off more than you can chew, because nothing else fits with you being here!!!
EricDraven, Eric, I have only ever sent three E-mails over the years, and I have never spoken to any CEO at BEM. One to CSP, I did post both my questions and his replies to me on this BB.. One to KB going back a few years re MI, and one going back a few weeks re comments made during an presentation.. I did not receive, nor did I expect a reply from any of these two E – mails.. I did not ask any questions, I offered my opinion that we knew was clearly different from his shall we say.. To be clear, i do think that KB has been a good CEO to date, and is doing a very difficult job, especially when dealing with the powers who are everything other than what they claim to be..
Yep, running smoothly.. The awful SP is hard for all, and we need real news.. imo.. atb…
Afternoon.. Pocko, results business? More than that.. anyone can deliver results! KB must focus only on ‘the best’ results, and clearly, BEM are not there yet with Kallak, which has ‘the best’ recorded data? Money/%? Of course! And btw, I was not best pleased with a couple of comments made by KB, so I E-mailed to say as much, better than getting into some silly spat with an r’sole here who has no interest in Bem becoming successful whatsoever..
Ibjj, your “over to you”.. Me perhaps? You believe KB has mislead the market re his potential partner(s) comment, and apparently, you have nothing at all to back that! Not good! Over to you.. atb…
Afternoon. Ibjj, taken from your 09:07 – “He has, in the past 12 months asserted on more than one occasion, that he is in substantive discussions with significant partners for Kallak. I don’t believe that can be true.“ Why then, don’t you believe that can be true? atb…..
Evening.. Anticipating RNS? Who knows? Perhaps for one example, the investors in the development of ‘Green steel’ might hope to secure the delivery of the finest iron ore Sweden has to offer to cement the big year of “2026” in reality.. The clock is ticking, and LKAB are mining deeper down, where the grades are not ‘super - high’.. Regardless, we have purchased ‘time’ at a price that no investor today is happy with, however, if you cannot say ‘no’, you cannot ever negotiate with anyone, and the resulting cost of that is a serious fleecing! We both, investors and the Kallak deposit warrant better! atb…
Afternoon.. Thank you AndyDuFresne.. Most professional that piece.. The mining of Kallak will make a real positive contribution to the Government’s written policy objectives, even if, the same has only paid lip service for last ten years.. Politics! atb………….
Suzy2, I thank you for that! I’m undeserving! It’s best I think for everyone to take a break from time to time.. I do rate KB highly however, Kosovo has been very costly to date, whether or not he has made the right move with that investment, given where BEM was/are remains to be seen, but it does show a lot of promise.. imo atb……..
Morning. Roller1, that’s the way to get the SP to rise a bit, just tell the world you are thinking of unloading, but I guess you already knew that! No PI is happy with having to raise cash at this price.. When the minister gave his sermon on ‘concession’ day re conditions being unique and far – reaching etc etc, his goal was to smash the SP, and then trying to raise cash when the SP is in a continuous slide is not in any way easy.. One thought I have is this, potential partners/ miners will without question have had serious hard - talk with BEM re Kallak’s future, and that engagement has not been recorded (far too smart), otherwise we would have had to be given all details.. Now, with BEM planning to have cash lasting for 18 months, which would help out in any negotiations, that could change if any party considered it to be in their interest to make any interest known to the wider in the near.. This whole BS story has never been about reindeer herders, who are little more that the paramilitary wing of the Government, or the (3%) hardcore Greens, the mainstream parties have cornered the BS Green market 20 years ago.. No, this has always been about money, and who gets what, and so it remains.. It has never been transparent from the off. Imo.. atb….