Member Info for EricDraven

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.

Fair comments Bans.

Best wishes matey.

Bans, too true, albeit we are being treated very poorly, and I do care about that.

Hi Bans. Good to see this going up today, but not sure why really, considering we still know nothing further from Röstin.

It depends if they needed to secure Ulla while she was still available. To ensure we got her.

Thanks for your reply.

Bye for now. x

I’m definitely buzzing off now, will check in later in the week perhaps.

Hi Suzy. No, but we mustn’t forget that the last money was raised specifically to rapidly progress Kallak, including a PFS in Q2 and attempting to submit our environmental application by the end of this year. Neither of which now occurring.

I wonder, with the obvious cloud of the Sami appeal still looming, it’s not implausible that this work on Kal was never planned, that is, only for after the appeal result became known, but of course, come the need for funds, Kurt couldn’t say we were putting everything on hold at Kal, pending the outcome of the appeal.

Otherwise, can you imagine the discount applied with the Kal project stated to be in stasis? It would surely have sunk may of us.

I don’t think any of us can be pleased with a sudden six month review that coincides with the pending appeal. It feels like we were duped on the reasons for the fundraise, in view of the reality of the lack of promised progress. Why haven’t we done the PFS?

Just musing, but I thought I’d respond to your posts Sooz and say hello.

I’ve said enough for today, having a break.

Lb, thanks again. 👍

SJ, yes, we need to start generating revenue as soon as we can, so Finland looks like the one. We also know that the Finnish Government is more appreciative of investment in the country, fewer obstacles.

Flog Vardar for sure for a bag of gobstoppers and maybe JV for Kallak or sell. Pity we’ve only proven up KN from a value perspective.

As you say, it’s late mid-year and we don’t know what is occurring. Only with Finland and that progress is still on the slow side. Progress nonetheless.

Blimey.

But the combination of effectiveness of everyone on the BoD and former BoD, is resulting currently in this awful sp.

Roller, I don’t think he was untrustworthy, just caught off guard with the concession announcement. He’s a decent guy. In my opinion. Whereas Röstin, more ruthless and bare-faced perhaps.

Lb, I was pondering whether the six month review is to simply allow time for the Sami appeal to reach its conclusion. The review masking that we are doing very little until the result of the appeal is known. Finland the only project progressing. Kal stopped due to the appeal and Vardar drilling halted because nothing of commercial value has been proven.

Lb, I appreciate what you are saying and I know you it is well meant. Thank you.

Pocko, it’s not as if Kurt didn’t have time to prepare a strategy for BEM, while waiting for the decision on the concession. Sure the expansion to include Vardar, but that work programme was never structured well from the beginning. I know we were exploring, but you mention ‘in perpetuity’, which is what was occurring with our exploration there. Continual targeting with ‘state-of-the-art’ equipment. That obviously couldn’t pinpoint where the real value was in spite of us spending millions of pounds. And still we were left exploring without results of any commercial value.

So yes, all that has occurred is the shareholders have been heavily hit in the pocket time and time again while wages and Options for the management team have only increased.

Lb, yes, I’m naive to expect people to behave as I would, I’m all about fair play and try and see the best in people.

You make a fair point, which is a concern now, obviously.

It won’t look pretty Soba, if Ed can’t get the sp up before the next fundraise. Still hard to accept the discount given on the last fundraise, which I’m sure contributed massively to putting us in the position we are in now. Some of course may conclude that, well, at least we have the money to keep going for another 12 months or so, fair enough, but we can’t afford another huge discounted round of funding along similar lines, if the sp doesn’t move upwards by some margin prior.

So it doesn’t look great, on the face of it. Considering the information void, Finland project aside.

Pocko, it can’t possibly require a six month review, surely, unless another company is perhaps undertaking its own due diligence, and that will take six months.

Just a thought, and I’d much rather think along those lines than hold the view that we are just having the p taken out of us, while drifting through 2023 with only steady work being undertaken at Finland. Oh, actually, that does sound like what’s happening.

I really don’t know what to make of a six month review either. Shouldn’t be a need for one for that considerable length of time surely? Fair enough evaluating as you go along, but work has stopped on Kal. Evidenced by no PFS. No Spring drill on Vardar either.

I’m not having a great time with this, so I’d better chill out for a while.

All the best.

I don’t know about you SJ, but if I’d have shaken hands on a ‘beneficial’ deal for the company I was CEO of, I’d be remaining with said company until I could officially confirm to shareholders that the deal was in place, i.e. stick with it until delivery.

Something not quite right here, in my opinion. No deal may have been agreed at all perhaps.

SJ, yes, not too much to ask is it? To be told what’s occurring and why. It’s difficult to remember a time when there was a reason given for anything at all.

It’s totally unacceptable.