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Afternoon.. It is that! Another swamp creature (Chairman) scooped up, and one with bumps in their CV.. I’m just wondering if competition was so weak, or perhaps the appointment was some ‘joint’ affair? Dunno.. Wanting to appoint a CEO at iron mines BEFORE, iron mines know how exactly, and who will fund the building of a mine, would be a very hard – sell to anyone with other options, I would have thought? So, does she know who/how, or too stupid to even want to know?
RE Not surprised
So, the puppets have knocked the SP (down 13+%) once more, and part 2 coming this week – just for good measure.. The upshot could be, a low SP would make any low offer re any deal type, ‘look’ more attractive to some investors.. FFS……Imo.. atb………….
RNS
Afternoon.. "Substantively engage". There we have it.. Could be the catalyst for any 'public' move by any so-called "natural owners" ? atb......
Afternoon.. "Substantively engage". There we have it.. Could be the catalyst for any 'public' move by any so-called "natural owners" ? atb......
Afternoon.. Good comments johnthegolf.. In respect of any appeal, we will soon be out of the woods as it were.. My opinion always was/is that, LKAB needs Kallak - their grades of ore are getting lower as they go deeper at Kiruna/other, and energy use is much higher. And second, once the MI had made it's recommendation for the concession to be awarded (proposals are legal), the main objectors, would then aid the powers in any way to get their ideal re Kallak's future, because it is in their interest to do so..
Regardless of the above, KB needs options re Kallak's future, to achieve fair value for investors, in any deal type.. Given, there has been no announcement to date of any partner/other, it could be that commitment ( any proposal) will only come when those strings have been severed.....We are not being greedy when saying super high - grade iron ore commands respect.....One buyer/partner, and you have no control, two or more buyer's/partner's, and you then have it all....This is going to blow shortly.. imo... atb..
Afternoon.. Very fair, johnthegolf.. The most successful football clubs, do get to sign the best football players.. Lionel Messi is not playing for Accrington Stanley FC. with respect.. Two or more clubs with interest? Wow! To date, the project in Finland is a head of Kallak, and would require much less investment to get to production.. I feel therefore, that further material progress in Finland early would/could give KB some leverage over others, in respect of all negotiations re Kallak...
Suzy2 - perhaps you could remind some others, that you never posted that you would sell at between 20p - 30p once the concession had been awarded, like some ‘smart’ folks did.. How high did the SP reach now? imo.. atb.........
Evening.. Restoration is a process, just like extraction throughout the life of the mine.. Environmental permits would dictate, because of the oxides and contamination.. The mined site has to be covered with soil or water pronto… In that case, no empty trucks coming to the mine site, they would bring soil – iron ore (71.5%) out…… Thor, is a lovely man.. atb…..
Morning.. Good RNS.. When Kallak has data showing iron ore with very low impurities and up to 71.5% iron content, you don’t have to pick up the phone to make calls – you receive phone calls.. We see that KB is playing by the rules - so, nothing new there! 71.5% iron = super high – grade = Many interested parties = $$$.. Wow! Imo.. atb……
Morning.. lbjj, I don’t think that you are even close.. Why not dump on the bad guys re Kallak? This Budge fella, to whom you refer? Is that the same Budge who you said was in Matalan’s buying clobber, when in fact he was in India engaged in hardtalk with the top dog at Epsilon? This resulting agreement came in the same year that Grafintec (BEM) received funds from Business Finland, and yet, Epsilon negotiated a 51% take.. That, did not happen without the powers getting the correct answers to some direct questions, put to both Epsilon and Budge – make no mistake! And you think this man doesn’t know what he is doing? Point being, why do you think that Budge’s lawful and inclusive approach, isn’t apparently being recognised as an asset to Swedish Mining, and to Sweden at large by the powers, when the same approach has paid dividends in Finland? Matalan? Please!
Everyone, is well pxssed at today’s SP, but placing blame where it belongs should not be that difficult… The Democrat party owns this carp, not the Green party, not the objectors, and not Budge, those who Govern owns this!! Thor, with his comments killed it dead! All deliberate, that’s why we didn’t get the announcement when the Market was closed, and we all were subjected to his circus of spin, all for the benefit of the market, and obviously not for the 3% Green hard – core dipsticks.. KB requested that any announcement came after market hours.. Now tell me that he isn’t ahead of the curve? Tell me that he doesn’t understand the workings of the powers re Kallak? We have for years been grounded in a system that for just one example, provides helicopters ($150,000 a go) for those in receipt of some form of state aid.. Go figure what the hxll has been going on! Back – scratching? Nothing else fits here…
In respect of no news re future partner etc, it is inconceivable to imagine that KB didn’t or doesn’t have firm plans/options/other imo.. With the award of concession resulting in a sp tumble, KB has his hands full right now! Without pen to paper, any of such may try to exploit the situation re sp/far – reaching conditions/future etc, or have genuine concerns.. We just do not know! We do know, the sp slide came immediately following the announcement. Shower of shxt! just look at the workings at Cementa, when our friend Baylan had to do a runner – something about withholding information.. That’s Baylan’s M.O. For sure!... KB is not the problem for the BEM investor, the right move for KB now is, not to make any wrong move! It should not be like this at all.. imo atb…….
Morning.. thecoat, “change of mood”? Kind of! As an investor, i would much rather say something positive or nothing at all.. However, it is different now.. Unlike before , the Government cannot hide behind a democratic process when delaying – which defined the Kallak application process. From what I’ve seen re the tone of the conditions attached, it’s hard for me to imagine any partner welcoming that baggage, without BEM being heavily compromised.. I’m no fan of liar’s or thieves and Thor looks to be something of both – 7p SP? Criminal.. Imo atb..
EricDraven, Well, I've taken that on.. We may not have heard the last of the ‘concession’ farce.. You only have to crunch the numbers here.. Potentially, Billions in income from the bounty of super high – grade ore versus, no huge numbers of reindeer /reindeer herders, and a vast area will remain undisturbed throughout to roam/ graze… This has been a BS story from the off – all funded by private investors.. And at times, KB and BEM investors treat with utter contempt.. “Unique” and “far – reaching”? What? Shove it! Not good enough for me.. There will be concerns with many watching closely, what they could do with those concerns, remains to be seen.. Imo .. atb….
Evening.. EricDraven, Swedish mining has slipped further down the international league - their application process is total BS for all to see.. It has to be in the interest of Miners/explorers/investors to see wholesale change to mining investment in Sweden.. All speaking out - together! And that does mean, laying blame with the current shower.. The award of something named ‘concession’ resulting in a immediate share price tumble, should/will be of concern to many, regardless! Imo only.. atb…
Is a lie, says the share price.. 7P SP with the award of concession??? Those who take nine years to deliver a decision on very ‘clean’ iron ore, claim that we have only ten years to save the planet. BS! With Swedish mining in the hands of those with a dangerously simplistic world view, and with an election coming, it’s in the interest of all Mining CEO’s to stand together.. Politics? We can do some of that too! Go get’em, with perfect timing.. atb…….
Evening.. Suzy2, I didn’t put Thor in any position to hold KB by his crown jewels, left – wing voters did that!!!! lolololol…. Calm down now, I’ll see if I can improve on that!
I had, and still have high regard for Kurt Budge… He has done a very good job in very difficult circumstances… The KU report shows very little in the way of recorded material from the office of the minister for enterprise re the Kallak application.. This limits KB’s ability to communicate to shareholders much about negotiations re the Kallak application, AND Kallak’s future! It should never be like that.. What do you think has been the sticking points? Kallak’s 40 - year future, perhaps? - I do!
Now, to your comment.. On the day of the announcement of the award, The SP hit a little over 20P, then fell back before Thor had finished speaking.. We have been on the slide ever since, and Only days later, we are at 7p ish, without even a flicker – that’s not the norm.. Something is wrong, imo.. We all knew about “more hopes” years ago, and we should measure any negative with that against, the huge positive, that the award for North Kallak will set legal precedent for South Kallak.. This award of concession, should be no small matter to BEM investors!
I am not too bothered with Thor repeating “far – reaching” conditions, because the application is hugely political, and the nature of the main objection is one of environmental concerns, and if Thor doesn’t lie sometimes, then he’s in the wrong job – sadly.. However, I did expect an RNS within 36 hours telling the market exactly what the implications are, of both, far – reaching, and the limitations exactly to such conditions re Kallak, and thus, for investors.. We had to wait a whole seven days for an RNS, which when in reference to the “conditions”, made no mention of the conditions being relevant, UNLIKE in the RNS on the day of the award, where the reference to the conditions, the term ‘relevant’ was the legal guys choice of term to communicate to investors/others.. Why did the same legal guys, in reference to the same subject, switch their choice of term? That’s not the M.O. of Lawyers when communicating to the same over a short period..
Anyway, I’m convinced that we will be rewarded.. I just don’t see how the Dems are dumb enough, to risk their system being broken, not when they get to pull all the strings of everyone, and when questions are asked about following policy, they somehow, successfully shift the blame onto others… Remarkable.. Years of delays? Forget reindeer, Forget Greta, forget the Greens.. MONEY! That would be, YOUR money.. Imo only atb…
EricDraven, Well, we have learned to rule nothing out with Kallak.. The drop is I feel, the result of Thor’s comments.. Thor said that the conditions are far – reaching, and KB’s comments re conditions in the RNS Did nothing to address my concerns.. Given the fall in SP, and Thor’s comments re conditions, I thought that KB’s comments in the RNS were very poor.. We needed, ‘nothing unwarranted’ and we did not get that.. Why not? The SP was on the slide.. Regardless, sometimes the ‘wrong’ applicant can get conditions removed by making the ‘right’ arguments, but not in Sweden! N/S Kallak and beyond is a money pit, and here we are, at 7Pish, with the award of concession. We are told now, there are more hopes to jump through..BS! Without the concession, there would be no hopes to jump through.. Imo, Kallak’s future is being sorted, or has been sorted, with nothing signed as of yet, needless to say.. To wait nine years to unlock millions of tonnes of the cleanest iron ore known to man, then it to be sold as a non – event, with no interest, is asking us to believe what we know not to be true.. I regard KB as a straight – shooter, and there is enough money at Kallak to go around;, if folks get the right deal! The powers do have to be very careful here, the years of delays must not be seen as Government engineering in any attempt of who gets to mine Kallak in the future.. Perhaps, when the qualifying period for any appeal has lapsed, we may learn more re who will be involved in Kallak’s future.. Dunno.. All in my opinion only.. atb…
Evening.. Suzy2, Yes, it is! Good that it’s not 28 days, as the SP would be about 4/5P – looking at direction of travel.. I’m waiting for the engineering of some catalyst for the BS offer.. Unless of course, the Government is thinking of becoming a junior partner with 2/300 $million to give the taxpayer a good return… Vote winner? Wotsaeyoo! atb……
3cardbrag, well first, we know nothing… It is however, within the Government’s control, and therefore, their interest that BEM is well rewarded in any deal(s) with any state miner re N Kallak….Good Politics! As its not fully measured, perhaps something like, Bem walks away altogether, and take an agreed $ % of sale(s) annually, AND, XYZ $ agreed figure paid to BEM upon the signing of any contract.. But, we do not know! atb…..
Evening.. ibjj, so you thought that KB was to hit the ground running – so did most if we are honest! So, we should ask why no firm plans announced as yet – he has had the time, and Kallak is very attractive with its known data.. Then we are reminded of some details that we see in the link provided by rickmeister, and among other concerns, the Environmental court (permits) gets to decide the duration of mining operations, and specific conditions (production levels?).. One obvious question then is, who then would commit many $millions to the Kallak project, without first having some good guide to annual production (Tonnage) $$$$$$ returns? We won’t mention that the objectors have been given carte blanche to bash BEM’s bottom line, and to make KB their ***** to spank on an annual basis for the whole mine duration, until they would be content! Content? Sami? Forget it.. 7p sp? say no more! This has state – miner sale written all over it..My thinking is, re getting totally shafted, that perhaps,was likely to have happened five years ago.. Dunno.. Imo only atb………..
NO! The concession is micky mouse, say’s the market! The CEO’s of other mining companies, who are watching every Government move closely, will want to see shortly, what the prize $ is for BEM investors, for having been locked in a corrupt farce, and if they don’t get to see it, they will tear the Dems to pieces over all things mining, going into the coming election – their investors would expect nothing less… 50% drop in sp following the award, offers only one explanation, and the DEM’s own it………Imo only.. atb………….