Member Info for EricDraven

You mean another review six months from when Ed Joins? Yes, we’ve already been told that the only six month review we know of is already underway. Which should only mean, lol, four and a half months maximum left once Ed joins.

Roller, yes, I’ve had enough of this shenanigans now as well. Been here thirteen years later this month, it’s become unbearable now, considering we waited patiently for nine years for a mining concession decision. Now we have the award we appear to be in a much worse position, certainly with the sp. How does that equate?

Good evening to you matey.

Ok, so because we are being purposefully kept in the dark, my thoughts are that certain members of the management team were not happy with Kurt’s plans to go into production at Kallak, and are now working on pushing a deal through to sell it off, which is why the two new guys have been drafted in and the reason for a six month ‘review’. As many of us have pointed out, the three business areas we have would surely not take six months to review, so the six months must be for something other. Tying up a deal for Kal, Vardar or both. Not for Grafintec, as it is still making progress and we’ve had news to that effect.

Only my thoughts. Straw clutch.

Lb, based on what we’ve seen particularly since the concession was awarded, it’s hard to disagree with what you’ve said there. I feel we obviously have to give Ed a chance, but equally it’s the same BoD, turning in a performance which has been so dire, that has appointed him in the role. So how good he actually might be is already in question, unfortunately for him.

It’s difficult to remain optimistic at this point. I’m not certain, for example, why we didn’t opt for a Swedish CEO, and/or why Ulla perhaps couldn’t have been CEO and also overseen operations at Jokkmokk Iron.

High cash burn on wages, no return, at present.

But we don’t know what is stewing away in the background, only that the plans Kurt had, when we may have finally been seeing some daylight here, have been shelved for now, if not indefinitely.

What we don’t know is why we are being told absolutely nothing, apart from the updates from Rasmus.

Hello Roller. Doubt it’ll be announced, that Primrock EGM for the new BoD was over a month ago.

Lb, seems that way. No thought about taking on the additional role while there’s massive uncertainty surrounding the progress of Jokkmokk Iron’s flagship project.

Pocko, yep, glad the cat is out of the bag.

Good points Rick.

Typical. It’s important shareholders know she’s taken up this other position, curious timing etc.

Pocko, yes, it’s left a bitter taste with me, after many of us took up the offer last time at 2.06p. It’s been proven that the quoted reasons for the funding, other than to keep the lights on, can’t be relied upon at all. I’m not in any position to add more shares, but I’d never participate in another fundraise after what’s occurred. The jury will be immediately out on Ed when he arrives as well, because he’s been appointed by the very BoD that are taking us for mugs.

You are probably right with that though, shareholders won’t be given the opportunity (lol) to partake in the future. The trust has surely largely all but gone and the BoD will be aware of it. We could end up being bulldozed into a difficult position after showing our support for this Company for many years.

Worse case.

Best case is that the secrecy is due to a deal and we may break even. You says it yourself though, someone could buy the whole lot right now for about £18 mill.

I agree Suzy. Absolutely the right thing would surely be to focus on Grafintec if it’s an earlier and especially less problematic revenue producer than Kal.

We know the plan was to dovetail both, each to become operational in 2026. Doubtful for Kal now if we’ve not done any originally intended work for this year yet, or, as with the environmental submission, extended the timescale for that without specifying what the new one is. Genius. Lol.

Sooz, it’s “at pace”.

Apologies for the multiple references to time, it’s time I had a cuppa. I have insomnia, so not functioning well at present.

Will leave you all for now. Taking a break.

Best wishes.

The timing of Ulla taking up the additional role though Prof, it’s completely disrespectful to our shareholders at such an time, and it proves she can spare that time instead of busting a gut to deliver our project. It is something to be concerned about. Why she’s been able to find the time and potentially leave herself open to also creating a conflict of interest perhaps.

Anyway, I was totally f’ed off with it, when I found the info, so thought I’d share it because I feel no matter how I feel, it is relevant that the EGM for a new BoD at that Company was on the same day we found out Ed would be joining us.

We don’t know what’s going on.

Yes, the outcome of the appeal is looming large, but the cash at 2:06p was raised with all of the plans for Kal stated for this year, the BoD knowing full well that the appeal was pending. Now it seems they’ve had our money and stopped the work Sooz. If not stopped, slowed it right down, without explanation. To see Ulla take up this additional role is a bare-faced move by her, in my view, protecting her own interests.

We could have done without it for sure, as it only poses more questions.

Yeah, pretty poor that Ulla has taken up another directorship while all this uncertainty exists here. I suppose she needed something extra to do, even slipping it in to maintain a certain lifestyle, but it obviously indicates that she doesn’t need 100% focus and time for the role at Jokkmokk Iron. No PFS or environmental application to oversee anytime soon. Again, we don’t know why.

Shambolic.

Aye Roller. It’s all very strange. Yes, I’ll try and sleep now.

Best regards. 👍

The EGM at Primrock on 28 June to appoint the new BoD, it coincidentally was on the exact day that our RNS came out announcing Ed Bowie as new CEO.

Here it is. Two of the BoD members from the LinkedIn page are shown:

https://primrock.net/

The .eu website address for Primrock, taken from the LinkedIn page, would not open on my iPhone, but there is also a .net address if you type ‘Primrock” into Google. This website doesn’t yet mention the new BoD members, including Ulla.

Just for info.

Hi. I’ve been pondering what Ulla has been up to since Kurt’s departure, as we’ve not heard about her in the media of late re the railway situation, or from Jokkmokk Iron. Well, she’s now on the BoD of this company, Primrock, since the end of June. Taken from LinkedIn:

PRIMROCK ELECTS NEW BOARD OF DIRECTORS [Stockholm 6 July 2023] Primrock, a leading independent supplier of capacity and balancing services to the Nordic power system, has elected a new Board of Directors on an extraordinary general meeting (EGM) held 28 June 2023. The members of the board include Anna Vidlund, Gustav Bergquist, Henrik Norlin, Magnus Högström, Mattias Ganslandt (chairman), Pontus Braunerhjelm, Rikard Azelius and Ulla Sandborgh. The new members, individually and together, add significant market and financing expertise as well as industry-relevant experience to Primrock. Primrock's owners are confident that the extended board will play an instrumental role in the scale-up and expansion of Primrock's capacity and business in Sweden and the Nordics.

https://www.linkedin.com/feed/update/activity:7082672148393148416

And on Ulla’s profile it confirms:

https://www.linkedin.com/in/ulla-sandborgh-5b88799?trk=feed-detail_main-feed-card-text

Just thought I’d share. Kallak not running at pace then? Otherwise she’d surely be wholly focusing on her role with Jokkmokk Iron. Bizarre timing for her taking on this additional role eh?

Best wishes all.