Member Info for EricDraven

Not the best RNS in the world.

Not long before we find out though I guess.

Hi Gunnar. Sorry to hear about your trouble with kidney stones. Ouch. Hope you are on the mend soon.

Just to say, that we have talked here at length re a business plan, or plan to develop the company at each stage. Unfortunately, with Kallak especially, we have been met with consecutive Swedish Government red tape and lack of meaningful activity on their part, in terms of both timescale and process for decisions. It has been so very difficult, if not impossible, for us to have had any business plan in place, one or more, as we have not been able to rely on a stable and transparent system which has stuck to specific timescales for approval of our project development.

Now we are met with the extreme difficulty of finding financial backing that will cater for these or further delays, not of our doing.

So, while shareholders can suggest a business plan, structure, strategy for production and expansion etc, the reality has been that approval processes are of an indeterminate time and we have found it more difficult with each fundraise to bring in the money to enable us to advance to a point where we are going places.

In my opinion, it is clear, that many do not want us to succeed. I do not mean the Sami per se, but the wider, those who walk the corridors of power.

I find it difficult to accept, but believe that the resource at Kallak will simply just remain in the ground until we are no longer operating.

As for Finland, progress has been painfully slow, but we have been aided financially along the way by the BATCircle funding. Yet now we haven’t qualified for a loan, due to a technical issue with the project there.

So Gunnar, how can we discuss a business plan? We have also been let down by at least two consecutive management teams, insofar as those in charge of the company have been unable to generate any real value in the eyes of the market. But of course, both Budge and Bowie have been up against it, while neither of those having actually any acumen as businessmen. Only as geologists.

Only my thoughts Gunnar.

Happy Easter to you too Sooz. x

Gunnar, I would suggest that you don’t bother trying to formulate a concrete proposal as it might not be the one that the company goes with. Only the one in your own mind. We need absolute certainty of financing and Ed has already said that there are no guarantees. So at this stage, even he has no concrete proposal sorted for us and he’s in charge of the company!

We remain in a predicament, but no point whatsoever in shareholders chewing the fat over it. We’ve gone beyond that stage now. The situation is far too dire and our CEO is still shrugging his shoulders.

A grim RNS really, but of course a necessary one.

Yes, the uncertainty over funding is currently playing havoc with the market cap. It’s creating a significant problem, unsurprisingly.

Good post Gunnar.

We’ve been waiting so long though with this potential, and the actual assets in the ground, that the market cap has only eroded over time. It’s not necessarily what we have, it’s how risky it is for someone to invest. Bearing in mind the red tape and obstructive forces aligned to hamper our progress in Sweden, and with extremely slow progress at Grafintec over the last decade.

It’s difficult to include Vardar into the equation, simply because we have nothing yet proven of commercial value. And a problem with keeping the licences current, due to the nature of the beast, operating in Kosovo.

So while your post is what we want to hear, the reality is what we are faced with trying to get the projects over the line. Money has been raised a number of times as well, to move on with Kallak, and we still aren’t in a position to have effected the issuance of an environmental permit.

Ed taking away our nominal value and mass dilution/share restructuring has had a negative impact, I would suggest, on any major player previously taking an interest in investing here. It is much more precarious.

However, we are still afloat. Thankfully, yet at a huge cost to long-term shareholders.

That’s how I see it.

Only my opinion though.

All the best.

So take your pick from that list Gunnar and tell us how and why we should have qualified for that loan.

Ed perhaps just chanced his arm trying to secure it.

Not sure what grounds we have to appeal the decision to not grant us the loan.

None, would be my guess.

I suppose we should have ensured that we thoroughly checked all eligibility criteria with a fine tooth comb and lodged our loan application accordingly. We’ve come back ineligible for the loan. Why?

Not good enough.

Hi Alan. Pocko hasn’t been rude.

Thanks SJ. We’ve gone into limp mode until we can fix the engine. Lol.

All the best.

Still life in the old dog yet. You never know, Ed may just be able to pull it off. I’ll be glad to see the back of Vardar too, if that can be sold.

Stay safe and well all over the festive period. Enjoy yourselves.

Very best wishes. x

Why is that a poor figure? We’ve not hit anything spectacular at Vardar. We also need the cash, so I’d rather we took the money than turn our nose up at it and contribute towards our own potential demise. The reality surely is that we are in a precarious position, and the assets we hold don’t stand for a jot, if we can’t even afford to keep the lights on. We need money in now.

Is it only me, or is Ed pleased to announce that we are still in the sh.it? Today’s RNS was optimistic but nothing confirmed, only possibilities of what may or may not happen, good or bad. Meanwhile we are burning cash just keeping the lights on and paying the wages.

I agree though, ditch Vardar as soon as we can, and that price sounds ok. Considering nothing is proven there, it isn’t revenue-producing and will require a massive amount of future funding just to explore the vast areas within the licences.

Difficult time for us, the short-term funding is a concern. Lowest impact possible for shareholders needed really, to state the obvious.

Anyway, still afloat. I’ll take that.

Good that SJ, as Sooz mentions, a great find, thanks for sharing. I suppose it’ll rest now on just how decent Ed is at his job, in securing a strategic partnership/lack of dilutive funding.

Have to see.

The new target from SP Angel is 182 though, up from 18. That’s a massive leap, so it does suggest they are confident of getting the funding in.

Only my view though.

Yes, good news if the tax credit is approved. For sure. Decent RNS today. Rasmus seems very pleased.

Have to see though now.

Best wishes all.

The Company repeatedly says that though Sooz. It’ll be interesting to see now though, just how this last quarter of the year pans out. Proper financing without another mass dilution is surely essential really.

No doubt we have excellent resources in Sweden and Finland, but twas ever thus.

Afty. x

The interviews with Rosie, lol. Nice try.

Hi Sooz. I can understand why you’ve said that, yes, although we are only really aware of those who post on here and maybe on Spotlight, so my message really was that it would benefit most shareholders in general, not only those who use this platform here, or don’t bother at all with platforms such as this for information and/or opinions about the company.