Member Info for EricDraven

Oaktree, it seems wrong, but unfortunately we only have the supplied info from Röstin to make that judgement, which may not be enough. With full info, we might take a different view, so that’s why I’m sitting on the fence.

Based only on what we have learned recently in the last few RNS releases, I feel the natural reaction is to be very concerned, in the absence of any attempt by Röstin to explain the situation and why the need for a six month review.

And so we wait.

Sooz, we need more info from Röstin. Also, in a couple of months, I’m trusting we’ll learn more about the Sami appeal situation.

The shareholders pay the wages though. That’s why we are important.

It is clear though, that shareholders are not being treated well.

In my opinion.

Sooz, that’s my point too, we don’t know what’s going on or why. It would be unwise to be wholly optimistic, but more measured perhaps, based on recent RNS releases, to sit on the fence.

Doubtful anyone will want to deal with us anyway while the Sami still has the appeal pending.

Good point Pocko, re the supply chain. If we are seemingly slowing up our Kal plans, or were purposefully lied to re timescales for PFS and environmental permit submission, then if we can’t trust that, why would anyone sign a supply agreement with us?

Suzy, that does not explain then just why we were told by the Company that it would be end of year/turn of next for our environmental submission. The other point is, they have obviously decided not to have the Kallak PFS undertaken, to commence in Q2. With no explanation as to why they’ve stalled on that either. Or the need for a strategic review that will take a massive six months to complete.

I agree about the Sami appeal though. That cloud hangs, but it appears to have stopped us from forging ahead on Kal, and we invested further on the back of this year’s plans to progress Kal when those reasons for the fundraise were given.

So let’s see what happens, but I don’t feel at this moment in time we should be trying to make a silk purse out of a sow’s ear, on the optimism front, when the management are supplying us with little information or explanation and in fact treating us with complete contempt.

That’s all great Aug, but the fact is, from the RNS news, we’ve been told that we aren’t pushing with any immediacy now to have our environmental application in by the end of the year. Why not?

Apologies if my last post was poorly written, I’m so weary at the moment.

Anyway, looking ahead, maybe we’ll receive the Finland PFS news before long. It doesn’t look like we are now bothering to do a PFS on KN though, due by end of Q2. Erm, no.

Yes, you haven’t been noticeably quiet, in my view. We’ve all been shocked by the abrupt departure of Kurt, followed by the news of a strategic review that will take a whopping six months to complete from who knows when. You’ve been vocal about it and rightly so. It’s been a shambles for shareholders, and there may be a good reason that it’s already been decided not to attempt to lodge the environmental application on Kal this year, but we don’t know what that reason is, or when it will be likely to be lodged, if at all now. So we naturally ponder further, in the absence of further news.

I agree re not selling at these levels, especially with the lack of news and at a loss. It would be tragic if we did that and then the two new appointments proved to be just what is required to take us out of the doldrums.

Have a decent eve.

Suzy, I see you are as optimistic as ever, but please explain what you deem to be “ship shape before we know it”. 😂

We clearly need the sp up before the next fundraise, or we, the little people, will find it most difficult to survive perhaps what could be unprecedented dilution.

Let’s hope (again) that the two new appointees will shape the company for the better, for the shareholders.

Hi SJ. I’m not sure why pushing for an operational Finland project prevents us from also ensuring we push to get the environmental application in this year on Kal. It’s good logic on your part I feel, but we lack the reason for the easing off on Kal from the management team, and, what of Ulla? Is she vigorously doing anything while the review is underway?

A re-rate upwards on the back of Finland would be most welcome, but equally, after we’ve waited for nine years on a concession licence for Kal, I sincerely hope and trust that project isn’t now demoted to second fiddle.

Get them both going and flog Vardar, once the valuation is, let’s say, confirmed. Lol.

All the best.

It seems to me that Johan is purposefully being vague. He must know how shareholders are feeling, the downward spiral in the sp continuing since securing the mining concession at Kal. Of course, being vague also makes it more difficult for us to judge whether he is competent.

Yes, I believe that’s fair to say. We are trying to make sense of things, while important information is withheld by the management team.

Evening Pocko. I note that the first two skills listed on Kurt’s LinkedIn profile page are ‘Financial Modeling’ (US spelling of Modelling) and ‘Valuation’.

So, I wonder, if these are skills, why is Johan looking into the Vardar valuation? And who has told him to do that now, if he didn’t bother to do so at the time Kurt was CEO? Doubtful Johan has suddenly done this of his own accord. If there is a problem with the valuation then it’s a bit late to address it.

https://www.linkedin.com/in/kurt-budge-b75287?originalSubdomain=uk

Hi all. Yes SJ, looks like that, and really the Grafintec project is the only one where we’ve had an update on progress of late. Rasmus is busy. Yet no news from Vardar re a Spring drill, and we know that a push for the environmental application for KN to be completed this year has eased off. So Finland is the only project that is still progressing, albeit behind schedule by a few weeks.

Pleasing about Sweden, I didn’t know that news. Good to hear.

Yes, two new people arriving but Johan can’t tell us anything other than that. It’s an uncomfortable time for shareholders.

Suzy, yes, you are right to be concerned with this drastic stalling of progress and lack of an explanation from Johan as to why the strategic review is necessary. A six month one at that. It’s laughable.

Pocko, thanks for the reply. Yes, that’s the concerning thing, insofar as the ongoing valuation of Vardar to determine the percentage we’d receive on each funding occasion may have gone unchecked. Why suddenly check now I don’t know, and not have scrutinised it each time we funded the project. It’s frightening.

I also agree that the amount of drilling we’ve seen from Vardar does not appear at all to reflect the cash we’ve allocated to the project. We’ve given so much for very little in return. None of the businesses can be deemed successful yet either, because they aren’t at a stage where any revenue is being generated. They are only potentially successful.

Seems like we are being treated with contempt by the management team and taken for fools. We deserve an explanation as to what’s happening with our Company. There is an unacceptable lack of information, especially as many of us made a further investment on the back of Kurt’s plans for this year.

Only my view.