Member Info for EricDraven

Evening Geraint. It’s a worry really. Gold or sand only kind of situation. Kurt is definitely a top guy, but I was as miffed as most when we received the concession and it appeared he was caught out. That was a terrible oversight on his part, having had years really to prepare for life after the concession. We’ll never know of course whether he believed it would ever be granted, but his shareholders certainly did and we deserved a plan ready to kick on.

That said, Ulla at least does appear to be doing ok, although I’m not certain what value Johan is currently bringing, but the same could be said of Mr Littorin previously. What ya doin?

The manner in which Kurt left was bizarre, but something occurred, otherwise the first RNS that day would surely have been either pulled, or amended to tell us Kurt was leaving and Johan would be attending the Fastmarkets event. Maybe the latter info in a separate second RNS.

That’s possibly how it should have happened. Lol.

And so we wait for the treasure map, and hope we don’t fall victim to the black spot.

Geraint, fair comment.

To be clear, I have no idea wtf is going on with this any more.

Bans, you sound like Aug (my God I hope he’s right though) and his theories on the clandestine happenings at BEM. I’d love to get pi55ed on good news, been waiting long enough.

Roller, aye, sounds fair, I don’t disagree with you. I’m possibly as fed up as you are matey, I’ve been trying to remain positive and upbeat, but it’s difficult, based on the sp, the lack of market interest and without further news for weeks. It’s become like a bloody ghost ship. Lol.

Roller, for what it’s worth, surely the management team would not have issued the first RNS re the Fastmarkets event and then decided to fire one of the people attending said event that same afternoon.

So for that reason, I don’t believe he was fired.

But only my own opinion.

Lb/Roller, if you have each concluded that Kurt was fired then fair enough. I’m not sure about whether he was, but what matters now is that we progress, or are sold. The thing is though, Kurt wasn’t the only person involved in making our plans for this year’s work. Ulla, Johan and Rasmus will have been involved in the decision re the targets. Kurt, in my opinion, was not running a dictatorship. Lol.

You see what I mean? Ulla, for example, will surely have agreed to the timescale for the PFS and environmental permit submission, largely indicating herself what was feasible, given her own expertise.

So the plans now may be the same still, but we don’t know that either. In the absence of a new CEO yet to be in situ that is, and one not yet associated with BEM.

If it reaches the end of next week without news, I feel we’ll have every right to be pi55ed.

Three weeks without a further peep doesn’t seem great, but this week or next for news surely? Almost three months since an operational update on Kallak as well, and by now surely it is known just when in Q2 the PFS will commence, or perhaps confirmation otherwise, if it won’t go ahead.

The danger is of course, I’m gripping on to loose progress target points previously Indicated by Kurt, whereas the news of actual progress remains unknown.

So we can only wait a little longer Roller, as frustrating as it is.

Nite Troaj. 👍

See you tomorrow. x

:-)

What I find more unsettling is that this year we are supposed to be really kicking on, plenty of work due, maybe even spinning out Vardar, but we are being told very little at all.

Strange things happening technically on here then. Let’s hope any sp rise isn’t a technical error. Lol.

Yes, spirited girl you are. Lol. I mean pay rise only if Ulla also takes on Kurt’s old role, one wage then.

I’ve no idea why the double post occurred. Apologies to all.

I like that, becalmed. The thing is, I just feel the fundraise was as a result of terrible mismanagement. There was plenty of opportunity to raise prior to the concession, when the sp was around 7p for a good while, as an example. Raise when you see a decent price holding, not when you need it. The discount applied was more than humiliating.

Anyway, it’s done, but it remains an unpleasantry that we’ve ending up bearing the brunt of.

We could really do with excellent news to counter that fundraise and bring confidence back. You may be confident Sooz, but the sp suggests that generally people are waiting to see what happens. Belief is teetering on a tightrope, no safety net. Lol.

Come on Johan!

Just an idea, what’s wrong with Ulla becoming the CEO of the whole shebang? Give her a pay rise maybe, but it would definitely avoid us shelling out for two wages.

I like that, becalmed. The thing is, I just feel the fundraise was as a result of terrible mismanagement. There was plenty of opportunity to raise prior to the concession, when the sp was around 7p for a good while, as an example. Raise when you see a decent price holding, not when you need it. The discount applied was more than humiliating.

Anyway, it’s done, but it remains an unpleasantry that we’ve ending up bearing the brunt of.

We could really do with excellent news to counter that fundraise and bring confidence back. You may be confident Sooz, but the sp suggests that generally people are waiting to see what happens. Belief is teetering on a tightrope, no safety net. Lol.

Come on Johan!

Just an idea, what’s wrong with Ulla becoming the CEO of the whole shebang? Give her a pay rise maybe, but it would definitely avoid us shelling out for two wages.

Hi Sooz. I feel the disappointment post-concession drop was compounded with the offer price on the fundraise then being so woefully low, it was a massive discount to what was the prevailing sp and we haven’t recovered. Unlike the 3.16p offer, where the sp held above that price and then kicked on. It’s a question of confidence, the Swedish investors may have participated well in the funding, but perhaps many did what I did and tried to reduce their averages with the offer price being far too derisory. It was an opportunity but also perhaps a necessity.

I agree about Ulla, she seems a good fit for us, on the ball and used to dealing with procedure, applications and personnel at a high level. Johan, not certain, as his background is in shipping. He can transition to do deals, but Kurt was the one with the mining knowledge.

Anyway, and so we wait. I’d like to believe we are pushing ahead with the Kal PFS shortly, if it hasn’t already begun. Closing in on mid-year too, and Kurt mentioned Finland maybe showing value mid-year, but of course, we haven’t a clue whether that PFS is close to completion or what. Maybe something decent will be in the offing from our new Ukraine partner, but we need news on all projects now, surely, simply because nothing by way of the planned work is confirmed as still going ahead right now. Kurt departing will cast a shadow, the longer Johan leaves us without any meaningful update. We’ve been through far too much with this investment really Sooz.

I noticed the date for H2 Green Steel, it’s all in the mix at the same time as Kal is being built (we trust), so it may tie in with the wider Swedish plan. Difficult to see that we’ll be left without a buyout or partner. I do wonder at what cost to shareholders though.

Wishful thinking is that maybe we’ll see a price rise here once the Sami appeal is dealt with, even though it seems they may dog us forever. Lol.

Yep, it’s been unpleasant on here lately, and it’s a great pity.

Afty. x

Morning Suzy. Nothing to prevent us signing a decent deal either, although currently I feel dreadfully disappointed, don’t know about you.

I reckon we can all agree that the sp is still a disgrace, 14 months on from gaining the mining concession. We’ve had a fundraise at a lowly level, our CEO has stepped down and we have no clue if the work is being undertaken as per this year’s plan. So I believe Johan must update us within the next week or two, otherwise it will be very bad form on his part. He should be concerned now with keeping hold of shareholders and cementing confidence after Kurt’s departure.

Aug, I’d love to believe your theory re why Ulla did not attend the Fastmarkets event. Maybe it’s just a case of she was busy working to get the answers re the railway situation and she thought Kurt would be attending. A bid before the environmental permit has been secured? Doubtful, unless it’s with LKAB. And why wasn’t this ready to be sorted a year ago?

Only my thoughts, but obviously the longer the silence from Johan, the more reason to feel something major is afoot. It’s the not knowing that’s the problem.

Roll on news Troaj.

Good info Troaj. Thanks matey.