Member Info for EricDraven

Sooz, not sure why you feel the Land Designation Permit may have anything to do with the Norra Karr ruling. What we could do with though is a proper timescale for submission of each of these permits and perhaps a brief explanation of what is involved. If the mine is set to come into action in 2026, then all elements required to be fulfilled prior must surely already be known. Including timelines.

Evie. x

Pocko, if I recall correctly, the BFS is scheduled for 2024, with mine build marked for 2025. The point being, if mine build is 2025, all of those permits surely must be obtained in 2024. Not applied for, but obtained.

If we are indeed making rapid progress, then obtaining the relevant permits in good time shouldn’t be a stretch. Isn’t that another reason why we have Ulla? She is familiar with the permitting processes and we trust will therefore manage timely submission. So far we only know when the first permit will (loosely) be applied for, but surely the rest is in hand. So I don’t believe any of it is an inconvenient truth, because it’s all manageable, the requirements laid out with no surprises. Ulla and Kurt know what is required.

Pocko, many thanks for your reply. Yes, using the SMART model is decent. We shouldn’t need a consultancy firm really, but if Kurt has already employed the use of one to look at the wage/reward structure, at our expense, then I don’t see why he can’t also hire the services of a business analyst/strategist etc. Although, none of this should be necessary.

Fair point re the drilling permits. We aren’t usually informed about those, or exploration permit renewal. Useful information though. We should really be updated, if only to remove that concern. It all counts towards generating confidence.

I’ve no clue as to why we are waiting another month before the PFS can commence. Kurt hasn’t said. So we don’t know why. I think that’s the point, and a source of unnecessary frustration.

Yes, the sp is shocking, and we need to start achieving more, so I’m pleased that we have a busy schedule ahead, better already than last year, but we need the specifics to follow.

Let’s see what the next news brings.

Pocko, yes, the Finland project has been another very slow burner, but it’s become clearer of late that we do have a short/medium-term plan for supplying anode using imported flake and the longer-term plan for mining our own flake. At least it’s supported by the grant money from Business Finland and thankfully we’ve not had to stump up all funding for it.

What, in your view, needs to happen this year then specifically to turn our fortunes around? You have been critical, rightly so, but now be that friend if you can. I’d appreciate your thoughts. I mentioned earlier what I believe should help, and it’s all common sense stuff, from the sense I have left. I’m no businessman though.

Cheers Pocko.

Sorry, and we’ve progressed in Finland Q1.

Pocko, good point re Finland and what we’ve been told about the expected progress by Summer.

Vardar uptake, not sure. We do have the funds to list it, and with the additional licence areas added late last year maybe the interest is there. We need more information from Kurt. I’m not sure, but why not approach the owners of Stan Terg and see if they would be interested in taking over the licences? Is it an option. Only thinking out loud.

Pocko, Q1, we finished the Scoping Study and raised funds. That seems to be it.

SJ, it’s been a shambles really. The strategic partners should have been sitting up as soon as we received the concession. The work to attract them in should have been ready to go. Last year was a washout really. This year can’t be a repeat and thankfully we do have work planned.

Yes, we know there was quite a significant amount of cash left prior to the fundraise, so not sure why we are waiting until Q2 to commence the PFS.

Lb, thanks. It’s obvious that the lack of over-subscription on the fundraise points to the need for a vastly improved managerial performance. Between Kurt and Ulla it must be possible, to deliver a strong plan for the coming year. He has mentioned “rapid progress”, but that also must surely mean informing the shareholders specifically how and how much it will cost, and not just saying those words. Obviously if the details are there, the market also then has a better chance of being convinced that this company is going places. Currently, the sp appears to reflect the exact opposite of the great transformation Kurt is telling us we have made since the concession award.

Let’s see rapid then LB.

Hi SJ. Yes, as Kurt has mentioned, the PFS he feels will be a major inflection point, so I would trust we’ll spend whatever it takes on it as a priority. It’s clear that we need to up the value drive as we head towards submission of the environmental application. Kosovo has created no real interest to date with the market, in spite of its promising tag, so I believe that says much. We concentrate on our flagship project in Sweden then, which I reckon is only what many shareholders have wanted.

Strange that it will take roughly a month though before the new shares are admitted for trading. I was hoping the PFS could be off and running by now. The problem being, and something Pocko mentioned, Kurt has not indicated how long he expects the PFS to take. And he must have an idea, or Ulla must. We could do with a breakdown of what’s involved and when it will be completed.

There also doesn’t seem to be anything specific planned for Q3, so I’m trusting proving up more of KS? PFS Q2, environmental application submission Q4. Fill in the gaps.

Now that Kurt knows exactly how much money has just been raised, he could do a breakdown for us of how that money will be allocated for this year’s work. Detailing the work envisaged. Proper plans with timescale for both commencement and end of each area of work.

Only my thoughts.

Cheers SJ.

Afternoon Sooz. I see we are back to the usual here now, low number of daily trades and not much to talk about. Hoping newsflow regularity will increase really, not just a flurry and then nothing, and I’ll be happy if we do receive news that Vardar is to be listed separately. I’d rather they try and generate their own money and we stop being the main cash provider.

Have a restful weekend. x

Thank you Sooz. x

Sooz, good afternoon. x

Alan, great that you managed a swim. Brass monkeys special in this weather. Invigorating though. Best of luck with your purchase here and it’ll be in a good cause then eh? Well done. I’ll have a look at ANGUS out of curiosity, as have no spare money, as you know.

I’m not feeling as sick but still weak. Just need more rest along with a bit of sunshine. Going to get some of that Echinacea swig Sooz mentioned. I’m all for a bit of herbal, but haven’t ventured out since I became unwell.

Best wishes.

Pocko, you know very well that I’ve been critical of the RNS news and of Kurt. That won’t change. What has changed is that I want to look ahead now and not feel terrible each day by examining what has occurred here previously.

Listing Vardar will at least bring in new shareholders there and maybe then give us the opportunity to sell our investment in part or in its entirety. It gives us options. We can’t continue in the same manner of continuously funding for exploration when we already have the proven assets to work on in Finland and Sweden and no regularly generated income.

I’m not contemplating a commercial discovery at Vardar, because it’s not yet a reality. The only reality is we’ve spent a lot of money to only just slowly create a wider landscape of further supposedly exciting sites to explore. Well, I’d rather someone else take that over and put their money into it. It’s proven to be far too costly and we have no breakdown as to how all of the money has been spent. Or if it has.

Looking forward to the PFS.

Guns, yes, the use by BEM of PrimaryBid was a slap in the chops for existing holders with ISA accounts. Frustrating. Not all brokers got involved with the corporate action, so for some shareholders it was an unnecessary faff to have to use PB and then do a Bed & ISA.

I hope any future fundraises will be directly via our own brokers.

Anyway, welcome to BEM. Good luck with your dabble.

Pocko, well it may get worse, but it’ll surely then be an overreaction. The fact is that the underwriter wasn’t triggered, we did well enough to avoid that failsafe, and we have work planned on our main, major asset. Once the placing shares are incorporated into the total in issue then perhaps we can look ahead eh? Kurt has mentioned the completion of the PFS on KN as being an inflection point, and the commencement of that ball rolling isn’t far away.

He will have to find a way of bringing back the confidence, and by separating Vardar and us reverting to a wholly Scandinavian resource focused company, I reckon that could work. We know the Finland and Sweden projects are earmarked for the same timeframe. Also a bonus, parallel management with the green transition common ground.

I’m trying to look ahead with a bit of optimism. I’m not sure why anyone who chooses to remain invested would not now do the same. We’ve shouldered the blow of this messy fundraise Pocko, I’m far from happy, but let’s now see what can be achieved with the money raised.

SJ, you did well. It’s about time. Lol.

I did say it may be tough this week. Lol.