Member Info for EricDraven

Pocko, what did he mean by “We are on the valuation of Vardar”?

Yes, I feel the same. Perhaps because we were expecting a productive year, two PFSs and the bulk at least of our environmental application being completed. Maybe spinning out Vardar. It was a packed work plan, albeit with loose timescales. Now we have doubt over everything, with this six month review news. I’d like to know how long the review has been going on for and what Ed’s real purpose will be. To drive us towards production faster or optimise each business area for sale perhaps? I don’t know, but I hark back to Kurt’s leaving comments, so am just trying to remain positive, in spite of yesterday’s RNS, which definitely treated shareholders with contempt.

Looks like I might have the right Ed:

https://www.linkedin.com/in/ed-bowie-071aa061?originalSubdomain=uk

Sooz, good point. All we know is a request for the proposal re PFS was sent out, but it hasn’t been confirmed whether the PFS is still going ahead. End of Q2 is tomorrow, so chances of it commencing within Q2 are obviously now extremely slim.

I wonder if Johan is doing this on purpose, the vague shambles.

It seems that way Pocko, in the absence of further news. What I’m not certain about is if Ed isn’t due to take up his post until 7 August, then why tell us this on 28 June? It’s almost six weeks off before he joins, and the strategic review, we have been told, is already underway. So it surely won’t take Ed six months to look over our projects, as the review, we are told, would take six months to complete. But Johan didn’t specify from when, or when it actually commenced.

So I’m pondering that, probably too much, but it’s not clear. To me anyway.

…..finding…

Sooz, not sure if I’m right, I’m only going off what Kurt said. But maybe when he departed he also thought we’d be progressing with the plans already in place re the PFSx2 and environmental application submission by year end/turn of next. I don’t know. But “progresses” and “next phase” surely now can’t mean something other, especially if we’ve not long since raised quite an amount of money.

On we go!

:-o

Yes Sooz, I think that’s right. We are angry. I’m find the total disregard for shareholders disgusting.

Hi Sooz. I only noticed with the last couple of emails, as the communication from Johan has been scarce and lacklustre.

This is part of what Kurt said from 3 May RNS:

“….. With the Exploitation Concession for Kallak North having been awarded and, due to the nature of the project and its location, now is the time for me to step down as the project and the Company progresses to the next phase. I will continue to follow the Company's continued exciting journey and wish the team success."

He mentions “…progresses to the next phase.” Which to me doesn’t sound like we are going down the pan. The opposite in fact. But I could be wrong, and obviously feel uneasy after yesterday’s poor RNS devoid of important details.

But I’m not selling at a large loss. Maybe we are shelving any further work until the Sami appeal is out of the way, organising a deal perhaps subject to that being ruled in favour of the Government. Dunno do we?

Groan.

SJ/Roller, the last RNS BEM sent me was on 3 May, the same day Kurt departed, but I only received that first email re the Fastmarkets event, not the email later in the day about Kurt stepping down.

Then no further emails have been sent to me since.

Pocko, we have a major share and managing control in Vardar. But it’s only a prospect with projects way off from being proven to be of commercial value.

I don’t feel Kurt and Johan saw eye to eye. Only my view.

That’s a bit of a drop. Continuing the knee-jerk reaction, but I’m not surprised, with mention in the RNS yesterday of the six month chestnut and the Company seemingly not now being bothered to attempt to lodge the environmental application this year. The problem is we don’t know the why. Another reason for the drop. Lack of any explanation.

It would be appropriate to hear from the new guy in the next RNS. In fact, I feel as though I want Johan to pi55 off completely. Although I may be wrong in that.

Good afternoon all.

Unacceptable communications since Kurt left.

Roller, the system must have changed immediately upon Kurt leaving. Without shareholders being given the option to remain subscribed. Pretty rubbish.

Yes, best to try and enjoy our afternoon and hold tight here. Something is afoot, in my opinion. Whether we continue to get fleeced by the very people we employ remains to be seen.

Good luck SJ. I hope he has the decency to reply.

So I’m not the only one. Weird isn’t it SJ? We’ve been automatically unsubscribed without being informed why.

Sooz, what I have noticed since Kurt left, is that I no longer receive the RNS releases via email on the day. That has stopped. Not sure why.

Not sure who appointed Johan.

Withheld vote, is it ‘Abstain’?

Good point as well. It surely wouldn’t take four of them to flog this off.

Remember the film The Man in the White Suit? He developed an indestructible suit that would never wear out. Sustainable only until it got wet and then it began to unravel. Lol.

A bit like the plot here.

Morning Sooz. Yes, that’s true. I don’t think we’d have objected to a revised date for the environmental submission being given and with a reason, but they’ve decided it won’t be this year and not informed us when it’s likely or why. We’ve done the hard work by gaining the concession and doing much of the environmental prep work in that, we have funding, so where’s the difficulty in lodging the environmental application? Ulla also has relevant knowledge.

And who has decided what? Like you say, who is running the show?

Maybe why Kurt stepped down abruptly, an acute difference of opinion with Johan perhaps. But who brought him in in the first place? Lol.

It isn’t funny, but we have many unanswered questions. Too many now, after yesterday’s woeful RNS, devoid of the important details. I thought things were looking up in Finland and with Kal, and now we suddenly need a six month strategic review.

If it smells like fish, it usually is.