Member Info for EricDraven

We could do with Spotty leaving some cosmic dust for BEM.

Roll on Monday and the arrival of SuperTed.

Enjoy your weekend one and all.

Good find Rick.

Johan Röstin’s comments from 28 June RNS re Ed’s appointment:

“……... This strategic review will take approximately six months to complete, and we then look forward to updating the market on our revised development plans and timetable including the environmental permitting process and application which is no longer expected to be filed this year."

If we still have ‘development plans’ and haven’t completed the PFS originally targeted to begin in Q2 this year, then the six month review is surely putting us further behind schedule with the PFS etc. Unless the plan might be not to have one.

I’m trying to figure out why we couldn’t have had one while the review was underway, or worked to try to lodge our environmental application by year end/turn of next. It seems the pace has been dropped, halted, rather than accelerated, and we’ve had no indication as to why, especially for the simpler PFS. If it is all dependant on the Sami appeal, waiting for that outcome, then they could surely tell us so.

The lengthy review, from what we know only, will therefore see us further behind the original schedule for developing the asset. Certainly for adding/completing important stages towards its development.

Sorry all, but unfortunately I’m reading back through some of the recent RNS releases.

Morning Rick. That’s helpful info, thanks for sharing. I feel that’s the point, Ulla taking up the directorship elsewhere while BEM is in turmoil. Not good. We are also paying her a full-time wage via Jokkmokk Iron.

Yes, Röstin was appointed, by Kurt? Only for Kurt to then leave abruptly under unknown circumstances, on the same day it was announced that he and Röstin were due to attend an event together.

Amazingly bad signs, and now, in the absence of any real information since, only that there is suddenly the need for a six month review, we are left pinning our hopes on Ed Bowie. That he will provide some clarity and quickly.

It makes one weep.

Yes, cessation of activity, for the review, without any explanation as to why they simply can’t review while work still progresses. The PFS on Kal, for example. Finland the exception, where work is progressing. For whatever reason, we haven’t been told that either. If Grafintec is now the sole focus due to specific factors with the other two projects, then they should tell us.

Yes, we have seen nothing at all of note from Vardar, since our £250k gift to them back in January. No Spring drill. Can we have our money back?

It’s been a collective shambles, currently at a very high cost to shareholders, fair to say I reckon.

Morning SJ.

Agreed. Röstin has not done his job properly, as far as shareholders are concerned. Once Ed arrives, Röstin can hopefully leave.

I’m not sure all of the blame falls at Kurt’s door though. He did have plans for this year, plans to advance Kal, but it seems those plans were not appreciated by the BoD.

The mobile burger van gig, of course. Another directorship!

Big Ted joins us next week, so I’m trusting he’ll have something decent to say. More information. Although he might equally enter quietly via the rear door and proceed directly to his tiny room the basement. Saying nothing!

Pocko, yes it’s clear you do want this to be a success. It’s apparent after recent news that you have been more concerned than I have, and with good reason it seems. The penny has dropped with me now, and Lb mentioned this the other day. I’ve been expecting too much of the BoD members, in terms of believing they operate as I would in business.

Finding the Primrock information made me pretty angry, I have to say. Many of us have supported BEM for the nine years plus, while waiting for the concession decision, and now we are being completely disregarded.

Night Roller.

It’s amazing that the post was removed yesterday. Even more bizarre that anyone would feel it’s ok for Ulla to take up additional duties at this time.

Pocko, just seen the Swedish Facebook page. Thanks for posting that Primrock info. Hard to believe people might be questioning why you’ve posted it, rather than questioning why Ulla feels her ‘full-time’ salary at BEM should remotely warrant taking up a directorship elsewhere. At such an uncertain time for BEM. Bare-faced and disrespectful to our shareholders, considering the woes we are enduring at present. Without an explanation from the BoD for the sudden cessation of work on Kallak and the need for a lengthy review. It’s a disgrace. Wholly insensitive and unprofessional of Ulla, in my opinion.

Don’t forget, Budgie is only “making arrangements to assist”. He may not in person be assisting to lift the huge weight off Big Teddy’s shoulders.

Lol. Well now Pocko, we have only about four and a half months left maximum to wait for something transformational to occur.

Let me know when to begin the drum roll.

Taken from the RNS:

“Mr Budge is making arrangements to assist the Company's incoming CEO, Ed Bowie, ahead of Mr Bowie joining the board of Beowulf on 7 August 2023.”

It doesn’t say Kurt himself will assist, only that he is making arrangements to assist. He could be doing so via an interpreter. Or a henchman. Lol.

Leaving notes before Teddy arrives perhaps. “…ahead of Mr Bowie joining..”

So doesn’t look as if Kurt is actually going to be hanging about to say hello. No interaction with Big Ted, lol, just arranging stuff before he arrives.

By the sound of it. Of course Kurt will be involved again, briefly, in order that he can arrange for the assistance.

Only my thoughts, due to the wording of the RNS. It doesn’t say, for example, “Kurt will return to assist Ed Bowie”.

Yes Pocko, it’s the six month thing. Why? That’s a ridiculous amount of time, without any explanation whatsoever. So I was exploring possibly why, in the absence of any further facts.

The laugh is that Kurt is arranging for Ed to have assistance. It doesn’t necessarily mean Kurt himself will be coming back for a month, from the way that news is worded in the ‘Compromise Agreement’ RNS, although I expect it means he will be.

The transformational awarding of concession last year then hardly any activity this year doesn’t add up does it? Something going on.

I guess eventually they’ll have to tell us.