Member Info for EricDraven

The strange thing about Grafintec is that it does sound promising, but my question then is, just why wasn’t the money spent in Kosovo directed towards Finland instead, and also in proving up a mineable tonnage at KS? It seems that the Grafintec project should have been up and running by now, or we could have certainly applied for a concession licence on the already proven resource there. It’s been a really slow project to date.

Anyway, just wondering why we branched out unnecessarily away from Scandinavia when we also had grant money from the Finland Gov with BatCircle. We could have really gone for it, instead of it being a real slow burner.

Yes, I’m not pleased with Ed’s impression of Marcel Marceau, but Ulla has quickly gone since Ed ghosted in, and that’s good by the sound of it, judging from her own comments.

So we shall see if Ted means business for shareholders. Wouldn’t that be refreshing?

That’s right, they don’t care, or they can’t wait for local sources of ORE not yet being produced. I suppose it’s more about making money now rather than prioritising saving the planet for some.

Of course, Kallak hasn’t yet been allowed to have an unhindered pathway towards exploitation. The Swedish Government has been disfunctionally useless, and now time has crept up on the powers that be and the local ore is really needed.

What a joke.

Hi Sooz. We survived nine years waiting simply because we didn’t know how long it would be before a decision and it could have been the next month, or the next, etc. So we raised money on the back of having such an exceptional deposit, the asset. You know how we survived. Shareholders being convinced that surely there was some process that couldn’t be infinite. We also had a low amount of shares in issue at the beginning of those nine years, so our investments were in a better position to manage a bit of dilution. Unfortunately that dilution since has seen the number of shares in issuer rise seven-fold or so, the last fundraise taking the biscuit. Yet, again, we’ve survived, with now almost 80% of shares held on the Spotlight market. There must be something in that.

If you meant me talking about Pocko’s rumble with you, I felt he made some good points that you didn’t appreciate and you couldn’t remember him saying about the effects of the Sami appeal sp

you sniped at him. He then returned the favour once he’d unblocked your posts. So it was tit-for-tat, on balance. In my view, and not for me to get involved Sooz.

If you feel Kurt did well under the circumstances then great. He certainly meant well, but I feel

made a few critical mistakes. The last one being incursion of the lending fine. But my feeling is that he may have needed support that wasn’t there and he became burnt out. In which case though, he should have put the Company first and sought a replacement himself, departing sooner. If he recognised that he was under immense strain that is.

It’s clear he didn’t have too much full-time support while he was chipping away at the Swedish Government on our behalf, but a person needs to know their limits. He’s been handsomely rewarded anyway, and shareholders have yet to reap any benefit from his hard endeavour, which is a great pity.

That’s why now I want to see a detailed plan for how we take this Company forward. Less of the haphazard depending on how much money we manage to raise. Let’s cost everything accurately and raise on that basis, but get these details out in the open. What I mean by that is, we’ve no idea whatsoever just how those percentages of our increasing shares in Vardar were calculated, why it was so much money, and where all of that money has been spent.

So on anything further going forward, shareholders need Ed to relay the details, costings, targets, timescales.

Anyway, if you fancy a break for a while it may do you good Sooz. You know I’ve had a few myself, and it’s been beneficial for me.

Bye for now. x

I’m sure Kurt did have good intentions, but with a falling sp and mass dilution, he did not surely merit his last pay rise.

Again, my thoughts, and now he’s gone the work has stopped, if it ever began. Why haven’t we had a PFS yet at Kal? We’ve heard nothing whatsoever about what’s happening at Vardar for seven months now either.

We are left desperately looking at Ed Bowie to be our saviour, and it’s a situation we shouldn’t have even reached. Nor do we really know just how good he is. It’s all hope again. I want to see the plans.

Evening. Yes, I don’t think it’s unreasonable either. The performance by the BoD has been shocking, especially at it is evident that nothing of value has emerged since the concession was granted. We are now a touch off 25% down on the sp on the fundraise price of 2.06p, which as we know was already a 40% discounted fundraise relative to what was the prevailing sp at the time. The Sami appeal wasn’t responsible for this circumstance. We have two other projects that are running behind schedule, and one could argue that the Vardar money would have been better spent on Finland to get the project moving along at pace while we wait for the appeal outcome.

The decisions with shareholders’ money by the BoD and when raising the funds have been terrible. Branching out to fund a private company with secret liability is an alarm bell, in my opinion.

The further we look into matters, the worse it is. In my opinion.

So I am now trusting that Ed will sort out our obvious problems and drive interest in the share again, which has been eroded due to an acutely bad series of basic errors and Kurt being caught off-guard following the granting of an award that we waited nine years for. He had plenty of time to raise funds at 7p.

You know my feelings on the last fundraise anyway. And the plans made that have not emerged at all, those plans relayed to the market and shareholders being the very reasons given for the fundraise.

It’s been a disgusting display of greed and incompetence, without apology.

Pocko, some very pertinent points from you earlier. Prior to your rumble with Suzy. It could just be that Ed is a doer, although I’m still disappointed in his lack of opening statement of intent since joining. What is clear though, is that action is speaking louder than words, and swiftly, with Ulla finding her position untenable. I’m not sure if she’ll be signing a ‘Compromise Agreement’ but if so, then it may indicate something interesting brewing.

You might do ok at these prices Timty, so best of luck. Yes, some of us have been invested at least a decade and we’ve endured much during this time. I’ve been here for thirteen years now, down on my investment for at least 90% of the time. It is currently probably the most uncertain period ever for BEM, but it just could be that something good may come from this for shareholders. We’d be foolish to say that’s a definite, but nonetheless still a chance of improvement, if only because there’s a higher potential for upside being that we find ourselves so close to zero. Lol.

Best regards.

It won’t be too long anyway now before we see just how much the Sami appeal is actually affecting the sp. Roll on 20th September then for some news on this. Hopefully a final decision.

Best case may be JVs to optimise development, but the question mark is at what cost to existing shareholders, for any new plans that may emerge. I have trust issues after what we’ve had to endure, but you may feel differently. Fair enough if so.

So I’ll be happier once I’ve seen the strategy, timescales and costings etc, no more haphazard nonsense.

Why we haven’t undertaken a PFS yet on Kal still bothers me somewhat. It’s difficult to ponder why that hasn’t occurred. Unless it was part of Ulla’s creative process, not doing one. Lol.

Dunno Sooz.

That’s what it says yes, but it’s important to see what actually occurs Sooz. They were not going to say that he’s coming in to look at the asset sheet with a view to separating the wheat from the chaff.

You and I were both hopeful when we invested on the back of Kurt’s plans for this year, feeling also that Ulla was working towards achieving what was planned. But now look, suddenly nothing we’d invested on the back of is occurring. So for me, I’m erring on the side of caution.

Evie.

Time will tell Oaktree. We need more news to determine whether Ed hasn’t only been brought in to prepare the asset sheet ready for sale of one or more of the assets. Rather than to plan our way to processing each of the assets. Probably around four months max left of the six month review.

Best of luck to us all.

Best of luck Tim. Many more shares in issue now though, compared with 2015, we have the permit but have been heavily diluted under previous management at very low prices. We must hope the new management team is much more competent in that area.

Night Sooz. x

It’s a strange thought of mine perhaps, because she did mention needing to be meticulous with the application, but why then didn’t BEM just let her get on with it? Politicians always try and cover their own backs maybe. Talk a good game but often it ends there. Lol.

I’m still very disappointed though, because I did like the plans laid by Kurt for this year, with Ulla trying to press ahead with the environmental application. It sounded like we might finally have been getting somewhere.

Anyway, it’ll all come out in the wash.

Best wishes.

I notice Ulla herself didn’t comment in today’s RNS. No news of her departure yet on the Jokkmokk Iron website either. Looks like she got her nose put out of joint. After her LinkedIn comments I was musing whether her ‘creativity’ may have included cutting corners on the environmental application to comply with perhaps her own original idea that it could be in by the end of the year. An idea that Kurt bought. Her being familiar with Governmental procedures, fair enough, but not with the mining of iron ore. And someone has looked into the plan and decided to remove her from the equation. BEM has taken the decision not to submit the environmental application by year end, not Jokkmokk Iron. Someone had a word in her shell-like, and asked her to slope off.

Only my thoughts, in the absence again of no explanation for this latest departure.

Evening all.

Lol.

Pmsl. Sounds as if she may be feeling a little bit precious. Perhaps dangerous being creative with a mining operation. Strict processes and all. Get the basics right first then build from there. Where’s the flamin’ PFS? Anyway, another one bites the dust. Adieu!

Wonderful win that. So pleased for them.

Morning Sooz. I guess they can’t leave Jokkmokk Iron without a boss, but the news would suggest things continuing into mining the deposit, rather than selling it off. A JV perhaps.

I’m fed up of thinking about it all. Lol.

Watching the Lionesses play football now, so will switch off for a while.

Lb, yes, it’s bothered me to the core this investment. I’m sure that shareholders could have collectively run our Company much better. Even a tea party of chimps managing it would likely have achieved a higher sp. Lol.

Thanks for your good wishes, much appreciated.