Member Info for EricDraven

Pocko, last year was supposed to be transformational. Then this was our busy year. Can’t believe anything can we, at the moment.

We must pray that Ed isn’t a waste of space.

Aug, the concession licence for us is a permit, no other names involved.

…..library. The PFS, due to commence in Q2, nowhere to be seen. Now no plans to attempt to submit our environmental application this year. As you say, when we still had many months ahead of us to try for it. So Kurt’s ‘inflections’ for the year, condemned to the waste paper basket.

And now he’s coming back. Lol.

Can’t fecking make this up.

Hi Aug. Many thanks for your reply. There are contradictions with the story though I feel. The fact remains that Kurt could not effectively prevent the sp from taking an acute nosedive post-concession, because he wasn’t ready to progress with a suitable immediate plan, involving also the other projects within the business. It was obvious that the Sami would naturally object to any positive Government decision, but we could have been drilling KS and proving up more of the resource at any opportunity since March and previously. If you are suggesting that a deal of some description has been struck with a handshake prior to the concession award, and with us only having proven up KN to mineable standard, then in terms of striking a deal, isn’t that a little short-sighted in terms of unlocking any maximum value for shareholders from Kallak? Unless a deal only for KN is in the offing.

In my view, nothing Kurt has done since the concession, and he did very little it seems, other than plan for most of the ‘inflection point’ work (lol) to be undertaken this year in Finland and on Kal, then possibly spin out Vardar, but nothing he’s undertaken has been suitable enough to prevent the sp slide. A poor effort, in my opinion, attending marketing events not enough alone.

Now with the latest RNS, and the number of Options given, you appear to be suggesting that the management BoD is happy with Kurt, particularly as he is coming back to assist Ed. Yes, I’m not sure why, if Kurt was viewed as shocking, that the ‘Compromise Agreement’ includes the need for him to return to assist Ed. If the split from BEM was acrimonious, then surely neither Röstin nor Kurt would wish for Kurt’s reinvolvement.

The concern is, that they are in fact happy with Kurt for securing your mystery deal, that may not exist, and in fact the BoD is ok with him making little effort to keep the sp on the up. But why is that? The discount given on the last fundraise was unacceptable. But of course, Kurt and the BoD are all unaffected by it.

And why reward him with an abundance of Options, if he is really only feasibly returning for a month! He’s a free agent at the end of August, and we’ll be paying him until December, in line with his ‘notice period’. If I’m correct.

You made a good point regarding that it will perhaps speak volumes as to the next role Kurt takes up, but he’ll be so loaded now anyway, that he’ll have to do very little, if anything, ever again. One further point is the exercise period of his latest Options at 2.06p. The full five year span will lead him nicely up to roughly 60 years of age (58?), so that may dovetail beautifully with also triggering his BEM pension.

I sound a bit upset perhaps, but somehow get the feeling I’ve been stitched up here. I can’t speak for how others feel, but the only real work on Kal in 16 months since the concession award has been getting Ulla in, having a Scoping Study, then moving into a

In relation to the ‘Compromise Agreement’, I was wondering if it also included compromise from

BEM, the true nature of compromise, in terms of, for example, what was said here by Röstin about Kurt, upon Kurt’s departure:

“Johan Röstin, Executive Chairman and interim CEO, commented:

"Kurt has a deep understanding of the industry and market trends, and has been able to develop and execute effective strategies to meet the Company's objectives. His presence has been pivotal to the Company, especially in achieving the successful delivery of the Exploitation Concession for Kallak North. Additionally, over his tenure, Kurt has helped build three successful businesses which can all operate independently to provide future value to Beowulf and its stakeholders. We want to thank Kurt for his many years of service and wish him all the best in his future endeavours.”

Stating that “Kurt has a deep understanding of the industry and market trends…..”, then why let him go in the first place?

Cobblers from Röstin, because surely otherwise Kurt would and should have been retained, but these glowing comments perhaps part of the Agreement.

Just musing.

Aug, what do you make of this latest RNS? Do you still believe there’s a deal being struck? I was pondering that, if a deal was in the offing for Kallak and/or Vardar, then why would there be any need for Budgie to come back and assist Ed Bowie? The ‘Compromise Agreement’ could surely stand with the same terms, but without Kurt’s reinvolvement.

Regards.

Yeah Sooz. Driving myself bonkers.

I know what it means, and yes, we can wait a week from the drum roll big entrance and Ed falling down the library steps. Lol.

Enjoy your weekend away. Probably come at the right time. x

10p sounds good at the moment, but if it ever arrives again, it won’t seem good at the time. Lol.

Suzy, yes, a fastish recruitment. Who is deciding that we need two swift appointments and not just the CEO though, we’ll never know. I don’t care now, as long as they can carefully guide us out of the s.hit, if indeed we are in it.

Is this a worry? The Sami appeal is against the Government for granting the KN mining concession. We apparently had a bulletproof application that Kurt added to with additional information to ensure a negative decision would be almost impossible. My concern now is what is currently occurring with BEM. Will this have any bearing on the appeal, if our Company is now seen to be floundering with its plans for Kallak and/or with its direction in general? Even though we merited the concession award at the time, based on our supplied evidence.

I don’t know, considering the appeal isn’t against BEM, but surely we’ll have to maintain structured plans etc and prove stability.

Only musing, probably too much.

FF, hi. Ah, I see. That explains why there are legal costs. I didn’t have a clue why.

Thanks very much for the info, much appreciated.

The market makers are trying their best to ruffle our feathers. On three trades, albeit one large. Maybe another RNS has been logged.

I wonder if we’ll hear about what is occurring with Ulla, you know, whether she’s currently helping out as a library assistant.

I agree, we shouldn’t be reduced to that.

It would be…

I would be hilarious if Ed agreed with Kurt’s original plans and reimplemented them. Lol.

I’m pondering why, with similar credentials to Kurt, who has decided that Ed Bowie will be better?

Hi Pocko. Well you’d sell at a loss if you felt things were going to the wall, just to salvage something. That was my point, insofar as this is not what we are seeing. So there must still be a hint of optimism, that things will improve. Obviously you may also have to sell though, if you really need the money out.

Roller, yes, I feel the pain too. Been invested here for almost thirteen years.

……deem…

Sooz, no reason to change your spots until only you deems it necessary. And hopefully it won’t be.