Member Info for EricDraven

Hi Berton, good to hear from you. Well, it’s only my opinion at the mo, subject to change, and it’s always largely governed by how I’m feeling as a result of what I’m seeing or not seeing. If you seldom agree with my take on things, that’s cool, so what were/are your usual thoughts on how this is going and what would you prefer to see done differently?

Sooz, I’ve just grown so very weary from believing this will be ok.

I was typing that long one Sooz, so jut seen your previous post. Yes, I enjoyed the article, but we don’t know what she means by that. She didn’t say why or how.

Sooz, I’m not having a go here, but you did sell your Option shares at 18p or thereabouts, so do you believe you’d be feeling just the same now, had you opted not to cash in those shares? I know you retained your large holding, but the fact that the sp is 5p, five months post-concession, does unfortunately have an effect on how I’ve started to view this investment. I’d be feeling much better, had I also sold my Option shares, as it would be profit and/or money to reinvest or just keep. The point being, the sp has never got off the ground under Kurt, and stayed there. And I expected different after the nine year wait for the concession grant.

I appreciate how near we may be to a mine, 3/4 years, but that is such a long way off, bearing in mind the track record to date, of Kurt’s inability to drive this Company to higher levels of recognised value. When I really think about it, I start to worry about the money I have invested.

I personally don’t feel, at present, with such slow progress in Finland and Kosovo, that it could have turned out much worse. I didn’t expect this sort of stagnation after the Kal decision. The Scoping Study could have been completed long ago, so yes, it must and has to be, the start of a real reversal in our fortunes, if nothing surprising and benevolent comes sooner.

Otherwise I think I’ll have to just ditch this, because I’m that p’ed off with how it’s being run, on the face of it, which is all I can go off.

We’ve lost a JV partner, and that has been lightly dusted over without explanation. Well, for whatever reason, it isn’t good enough, to keep us in the dark like that, unless something stellar is happening within the next couple of weeks. But really, should we be left to hope that it is?

I have not got your mindset or tenacity, unfortunately. Based on the evidence I see before me I must conclude that Kurt has not improved whatsoever in terms of his communications to us, in spite of him saying he would.

Fair point Pocko. Technically we should have no problems with the Enviro application and Kurt has already mentioned that he has found nothing unexpectedly unusual about the terms surrounding the concession, in spite of supposedly far-reaching conditions attached to the award.

Good news.

If we are able to wait, we do know we have value in Kallak. Proven to mineable standard. The Scoping Study and PFS can’t come quickly enough though, in my view.

Pocko I feel that’s where I am. I’ve been holding this investment for twelve years and am still in the red. We haven’t got away from low sp levels and stayed away. Better communication would help us ascertain whether the progress is to be improved upon. I’m not happy with how things are going and concerned as to how long I’ll have to wait to start seeing the results via sp, with momentum sustained.

He’s a top guy, as a person, and I don’t want him to go, I just want him to communicate better so we are not left to draw our own conclusions, or not be able to conclude.

Yes, I found it strange for him to have used those words too, as we have no idea, based only on what we know, how a significant change to the good will occur near-term. We can say longer-term with Kal, yes, but for the remainder of this year and into next, how will the curve change to a convex shape, as Sooz mentioned, with what we know about that which is planned.

I’m trusting Kurt did not flippantly choose those words, as I do feel, because of our current downward trajectory since the concession award, that many, if not most shareholders are now sick and tired of holding solely based on our faith and trust in what may happen in the future, when we should be focusing on the now and having more news accordingly.

We also don’t know how Ulla is performing. Another word used by Kurt was “rapid” progress re JIMAB. I’m pondering if that only means the estimated progress of reducing the time to a mine from 4/5 years down to 3/4 years, or if “rapid” means something we don’t yet know about, something Ulla is specifically working on.

We have mulled over the need for secrecy prior, should BEM be in any sensitive talks with partners etc, but the performance of the sp suggests that the structure or consistency to our plans is not readily identifiable by the market.

Sooz, you are a goody, trusting we are poised for bigger things, but we don’t know what Kurt’s definitions of time are. Or indeed how he intends to achieve these inflection points. Hopefully not via mass dilution.

You are possibly one of the few who are not overly frustrated by the way Kurt is operating.

We are left guessing as to why Epsilon no longer wishes to be our JV partner. It could be a simple reason, but I’m blindly hoping it is due to something good happening for us.

Kurt hasn’t said, has he?

Yes Pocko, so what are your thoughts then? Do any of our currently known progression points appear to be able to bring ‘significant’ change?

……and with support over there…

I’m still pondering whether there will be any near-term inflection points. We have the JV over with in Finland, but Grafintec in discussions re projects, and which support over there, we have the Scoping Study and PFS at Kal to come, with the chance of more drilling being slotted in before winter in Kosovo. I wonder if these are the inflection points to which Kurt refers, and, are any of them inflection points that will drive the sp?

We need it up before the next fundraise and before we have to repay the loan next Feb.

Only my thoughts. I’m trying not to give up on posting.

Gambier, Kallak is the least disappointing proven asset, but it also happens to be a fantastic asset, mineable, high quality and eventually lucrative. It isn’t just the best of a bad bunch, that’s for sure. I agree re no real weight of cash behind any project, and I’d rather see focus behind Kallak, because we have proven it up and gained the concession.

3card, hi. How long as it taken any of Birdie’s companies to generate income though matey? I would guess in a shorter time than we see here currently, but not sure on that.

I’d prefer us to focus solely on Kallak now, in all honesty. The cash burn for Kosovo has been staggering so far. We could have proven more up at Kallak, got a JORC rating for the additional and have the Scoping Study completed. Although a painfully slow process bureaucratically in Sweden, we’ve had licence issues in Kosovo and the possibility of internal war, certainly unrest. With £3.1 million invested I would have expected much more progress on the ground. While waiting for the licence issues to be resolved, how has it been justified that such an amount was necessary, only to increase our percentage marginally to the point where we are now?

We won’t receive an explanation from Kurt, but surely that money could have bee better spent on something we already wholly own.

Anyway, I suppose with Birdie, he isn’t a genius but has all of his fingers in pies. A few of them were statistically likely to pay off, by sheer weight of volume.

Best wishes. Have a decent bank hol break.

I see TFE. Yes, the only way unfortunately to have made anything out of BEM is if you’ve traded it. Well done for taking the risks, and absolutely the right decision. I’m only now coming to terms with how crap it’s really been, and still is, post-concession award.

Have a decent bank hol weekend.

….its inability to….

Yes, thanks Pocko.

Good you did that 3card. I should have done so as well but I just didn’t anticipate a drop to this extent or it’s inability to bounce back.

Get some cash back in your life. Lol.

All the best.

I know. But surely we aren't too exacting. Anyway, have a peaceful evening Pocko, one and all.

TFE, sorry, are you saying our boss is a jobsworth? I'm unsure as to whom you are referring.