Member Info for EricDraven

Thanks for sharing Hasty.

John, 19.5p was a great average once upon a time. We must both trust that it will be surpassed again with a Kallak concession and hopefully positive progress on the other two projects. The Finland and Kosovo projects are not priced into the current sp, according to Kurt, and it's a good job they aren't, lol, but he needs to find a way next year of getting the formula right so they cannot be ignored by the market.

But of course we need a result on Kallak first, our most advanced project. Kurt must not accept any further delay nonsense and press for a concession decision if the Swedes continue to treat us with contempt. If he doesn't, it will be difficult for me to trust in his ability to delivery on those other two projects, should they encounter any problems.

Only my thoughts

Good luck to us.

Hi John. Bit of a nightmare really. In order to reduce our averages it requires more money. That's what I don't like. Lol.

You make a great point re the averages though.

Quite a lot of info to take in of late, and we don't know if a decision on Kallak will now come very soon or not, due to the KU concluding that the Government has been rubbish in dealing with our application. It should help speed things up, but will it? We also don't know whether Kurt is willing to just sit back re pushing for a decision and wait however long for UNESCO and then the Government again, because Kosovo is suddenly in the foreground throwing up all of these potential exploration hot spots, and he's merrily occupied in targeting those.

We have time in hand before we have to decide re the Offer anyway. I definitely don't like the idea of a 13.5p average though, after the price we are being diluted at. The massive discount still hurts, and if we hadn't have been given the chance to take part in it, I would have wanted Kurt to thoroughly explain his decision of selling our soul on the cheap. In fact, he still should do. Why such a severe discount? It has put existing holders who are skint in a spot of jeopardy, knowing the otherwise harshly dilutive effect on their holdings if they don't subscribe to the Offer. It's also a pity we can't guarantee that the sp won't drop below the Offer Price. Lol.

Anyway, as Pocko has said, we are where we are. Make or break next year, in my view. The Kallak concession award is a must, and a discovery at Kosovo is badly needed, considering we are seemingly Vardar's cash cow.

Cheers John. All the best.

Oilcanarry, not sure that I'd call my posts sensible. Lol.

Good luck to us though eh? Kurt having a three-pronged attack of projects is ambitious, and I'm sure some of us would rather he have stuck to Kallak and kept the share issue low, ticking over and conserving funds until the concession award. Honed his methods to prize a decision from the Swedes.

If he proves to be slapdash now that he's excited, as a mining engineer, about Kosovo, then we'll soon know. Something will smell fishy. It already seems that we have been overextending ourselves financially to fund that particular venture almost from the beginning, so he needs to deliver Kallak, as long-term holders may rightly begin to feel as if we've been duped.

Big thing this Offer then, much to consider for us, at a time when Kurt is talking a good game in his presentations, but the reality is that we are still awaiting a real breakthrough on Kallak, with the other projects each in their relatively early stages.

Early morning ponder. Meanwhile, we wait for Baylan to hopefully face the music and effect a decision, and, as a side note, is there any reason why Kurt can't also write to UNESCO to ensure that certain things are pointed out? We don't exactly know at this time just how the Swedish Government's referral will be worded. To me, that is a point to ponder.

Best wishes.

Sooz, good point. We have time yet to decide how much further, if at all, we will risk with this Offer. I'd much rather the scenario of the Offer were on the back of the Kallak concession, so we can wait a little longer and see if Baylan does respond to those two questions. Not sure what happens if he decides not to answer them, surely he wouldn't do that, under the spotlight of the KU findings. Not long until we find out.

Thanks for your comments and for your help. x

Lb, thanks for your concern and for those comments, they are much appreciated. We have a good few days left yet before we have to either take up the offer or not. I need the extra shares to get my awful average down, even a little, but, as you say, the sp here is potentially a significant problem, so I'm going to wait until nearer the deadline time and see what occurs.

Best wishes.

Those little gold dots are what stood out and said "Hi" to me in his last presentation. The one where he was pulling tongue-twisters all the while, which I found annoying, but the dots eased the pain. I'm looking forward to hearing more about 'em Sooz.

I bet you are Sooz. This may be a one time opportunity, but it's still costing us much more money.

I haven't received anything via post yet, but not sure that I will, as everything bar the Prospectus seems to be online. Interactive Investor.

I've been into my account a million times in the past two days. Still not done it yet, as I'm waiting to transfer money that I don't really have over to the ISA. Lol.

Best of luck.

Hi TFE. I agree, and feel because it is just very early days with Kosovo, we have no clue yet as to tonnage, proven vein systems, etc. Not exactly a shot in the dark, as the use of the high tech equipment and results so far do sound promising, but of course we are going off what Kurt tells us. We are not familiar with it. It's a question of trust in what he is telling us. Impossible for us to think of a tangible asset or assets out there in Kosovo though until an economically viable, mineable resource is discovered.

Early bird special. Not everybody's cup of tea. Lol.

Thanks Sooz. Mornin'. Yes, he has been impressed by Vardar for sure, but I think it is we who must also trust in them. Do we? Can we? Just who are they? Lol. We have already thrown large amounts of cash their way, for ever more unusual percentages, based on growing potential alone, but nothing dug and proven up to date, so it's kind of exciting but at the same time it has at times left me pale in a sickly panic. We are juggling three different operations in three different countries, with shareholders constantly footing the bill. No earnings, just big wages and big ambition.

What could go wrong?

Howl.

Now that is good news.

Sorry, I meant this level of dilution the year after next, not next year.

Yes, with Vardar all that we currently have are highly prospective geophysical anomalies to investigate further, though based on the use of super-duper high-tech. It is promising, but as yet it's all unproven potential worth. Kallak on the other hand we know all about, we've dug it and uncovered a beauty, long since a JORC certified mineable asset, proven, with more to go at. I can fully appreciate your caution over Vardar. It isn't misplaced, but the areas of exploration do apparently sit in a regional hot bed for discoveries. I must trust that Kurt doesn't do anything silly with these funds however, because obviously he is a mining engineer and there is an element of doubt with me that he could get carried away with all of these possible targets to test. He'll want to do as many as he can, but we surely don't want to shoulder this level of dilution next year.

Of course, with the Kallak concession in place, that would help us enormously.

To sum up, I have grown to reluctantly accept the idea of Vardar, lol, but not that we're taking percentages in an unlisted company. We could be better protected. We also don't know what their budget each year is, or if BEM is the main source of funding, using money that we are not yet earning.

Best not to ponder all of it too deeply if we don't want to invoke a slow migraine.

Cheers TFE.

You only had a short holiday away from thus really then Tintin. I've been holding for over ten years now myself, so hope you are right about the bagger situation. It's been an incredible slog to have held on. The KU has outed the Government for being inept, which we knew anyway, but now that is official news, so the hiding in broad daylight and not dealing with our application can no longer continue. I'm pleased that such negligence has been recognised. Something good and a pivotal moment, in my opinion. A decision has to be forthcoming now, not just the absolute lie of one being prepared. Lol.

Decent RNS today. Looks like we'll be spending a zillion quid on drilling if these hot targets keep showing themselves.

:-)

Welcome back Tintin.

Thanks Sooz. Yes, I saw that 4 December response time on the pdf letter. No later than that, which is good, and he hasn't got long left to compose his flannel has he? Lol. I wonder what he will say to those two questions. About time he answered properly to specific questions as well. No more "A decision is being prepared" kind of general nonsense.

Hopefully he is feeling the heat. Lol.

Investegate is a good one.

Aye, and it's just popped up here on LSE now, even though the RNS says 10:50am released.

Bizarre happenings on LSE at times. Sheesh!

The RNS icon still isn't showing anything here on LSE yet though. Weird.

Good to see wasn't it? Yep, forthcoming to be replaced by a solid date would be superb, but at least the Government has been outed as shirking its responsibility in this process. Deviating from it even.

Lovely.