Member Info for EricDraven

Hi SJ. I’m not sure really either, just rolling with it, as honestly it’s been a bit of a slow one and we lost a partner then gained one etc. Just pleased that they are doing this PFS. Real progress. Not sure how long it will take though.

They’ve probably done it already. In London. A virtual PFS. Lol.

:-)

Ah, there it is!

Re Finland. I subscribe to BEM email list and I received the RNS. Not showing here on LSE yet.

Pretty good RNS should be popping up soon.

Hi Roller. Barring unexpectedly great news the sp probably won’t suddenly shoot up. And I don’t mean drop to accommodate the placing and then shoot back to where we are now. Lol.

Interesting to see just how quickly we can actually submit this environmental application. With funding and focus, maybe Q3 is a possibility. Not Q4. Be good to achieve a target early.

Just musing.

Well I’ve voted in favour of the proposals, because it would seem foolish to try and close the doors now. Not sure when you mean by a little bit longer, but I’m sticking with it Sooz.

Sooz, not used it before, although my broker, ii, is on there. Not sure why Kurt is pointing us towards using this service though and not just referring us to our brokers, as would be the norm.

My concern here is obviously that existing shareholders are not being given any preferential treatment over just anyone wanting to invest in shares in this next fundraise.

You know my position Sooz, I can’t participate this time, but I still want to see fairness for existing holders. Have to see what the info is when fundraise time arrives of course, obviously if the voting at the OGM (apparently not an EGM now) goes in favour of what the BoD is proposing.

Best wishes. x

Sooz, based on where the sp level is as we approach a massive fundraise, I really do hope news comes to raise the level before the offer price is established, if it hasn’t been already. We really need the sp lifting prior to the fundraise, not following it. In terms of minimising dilution.

We both know all this. X

3card, I really need to see this offer price set at 3.16p or higher. We have a mining concession and should not be raising funds below our last bargain basement offer price.

Hi Sooz. You are right, but the issue is when funds are raised, the timing of such. The timing for raising while the sp has been buoyant has been very poor, so the amount of shares in issue could still have been much less at this stage than it is now, had the opportunities to raise funds been taken while the sp was much healthier. With this next fundraise we are again looking at very significant dilution, because he sp is really struggling and it is deemed that we need the money in right now. This time last year the sp was floating around 7p, so we could have raised more then, and shortly after the concession award, the sp was in the teens. Even more recently, for months, we were sitting at 5p.

So I agree with your point re the dilution, but the timing of these cash calls has often been terrible, markedly increasing the dilutive effect for existing shareholders who always aren’t able to add more at offer prices, or who are losing patience with how Kurt is operating in this particular area.

Having money in the coffers is of course the main thing, but it’s also important how this is achieved and when.

I’m sure you can see why a lot of long-term holders are completely fed up. Our existing holdings are effectively being ransacked by the poor timing of the fundraising.

Pocko, yes, you did mention it would likely be raised below our last one of 3.16p. I was more optimistic, but I’m not now, with the 3.50p floor gone. Have to see what occurs nearer the time, but obviously very unhappy in any case, that we are even sitting at these levels once again.

Best of luck to us as we push on.

Hi SJ. A partner would be great, but I’m wondering also why we haven’t yet approached LKAB, the supposed natural choice. We’ve already done much of the donkey work. Anyway, this is now into my thirteenth year of being invested, we have a concession to mine, and the sp is dire. We could do with substantially great news before these fundraises, not afterwards.

Good luck to you and to us all for this coming year. I’m furious with myself though for remaining loyal to Beowulf and keeping hold of my shares. It hasn’t paid to do so, even after such a very long time.

My own fault.

Enough from me for now, but the only way I’ll feel remotely ok as a shareholder right now is if the discount is at 3.16p or above, to reflect the supposed progress over all areas of the business and the fact we have achieved the milestone of the concession award. Otherwise I feel it only proves that Kurt has pretty much f’ed this up. Raising funds while the sp is not in a healthy place. The lowest point it’s been at for over a year.

The sp is important, especially for those with limited funds and who may now be struggling with this investment. Myself included.

Just venting.

Before the discount is applied it would help if we had stunningly good Scoping Study results, to boost the sp prior to the price being set. It would be 5hit if the fundraising is undertaken at a terrible sp and then great results from the Study come in afterwards. Or are later published, should I say.

Timing!

Looking like loyal shareholders who took up all of our last Options at 3.16p and who can’t subscribe this time or who don’t want to will be having to take the dilutive blow of a lower price than the last subscription price, should this sp continue to be like this or lower. A ridiculous spread of 33.3% not helping with the average. A 3p floor is making me wince, before the discount is even applied.

So we have the concession award, are making decent progress, and yet the opportunity for Kurt to have raised funds at double this current sp was not taken by him. Hard to justify, in my view.

Yes, I don’t like it.

I wish you all well. Good luck to us.

Unless it’s bird’s nest wigs.

Best wishes Sooz. x

Cheers John. Aye, we know BEM will be busy next year, and maybe the Sami appeal will be dealt with too, so perhaps the sp will be ‘alf decent.

Thanks Roller. Same to you matey. Be good to have a break from this too.

Best wishes.

I do like your “on the tenth year of Christmas….” though.
Ten Changes Of Government (Feels Like It)
Nine Duff MPs
Eight Paper Shuffles
Seven Can’t say “No!”
Six Won’t say “Yes!”
Five Environmental Activists
Four Reindeer Hooves
Three Herring Broths
Two Kallaks Deep
And An Objection By The Sami.

Sorry.