Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The interpellation session started 40 mins ago. Damsberg has completed his four interpellations and Strandhäll has almost finished the first of her five. Then it's Karl-Petter Thorwaldsson with Kallak. If the pace of the session is a guide he'll be on around 2-2.15 at a guess.
Good point Mateyboy, add those 300,000 of unknown trades into the total trades and it makes the UK trades more like 18% of those in Sweden. Still on the low side - I'd expect the number to be more like 37% for a 73/27 split - but not so difficult to reconcile as 1.9%. Totally agree with you that we'll never see the full picture.
Thanks for your reply, Bennii. I probably dashed my original musing off a little too quickly and not carefully enough, but given your comments about equal numbers of buyers and sellers and hence a narrow spread - what's your take on the numbers shown on this site indicating 2,809 shares sold on AIM today and 160,386 bought (last time I looked, a few mins ago). That doesn't seem to support the notion that buyers and sellers are present in equal numbers. Also, the quoted spreads from brokers at the time of my first message was 0%, but on attempting to place a trade it was more like 7%. On here it's quoted at 9.09%. I don't know if this site tracks and publishes all AIM trades, but the total number of shares shown on here is a shade over 163,000 whereas in Sweden it's 8,665,642. The UK trades are only 1.88% of the trades in Sweden. Given there are 27% of the shares owned in the UK, that seems a bit disproportionate. Also, the spread in Sweden is only about 0.015 SEK which is less than 1% - to me the numbers for Sweden are more indicative of a highly liquid market where there are eager buyers and sellers. The UK/AIM not so much unless there is an explanation for the differences. I also wonder, with the price differential between the two markets, how quickly shares are being taken out of AIM and over to the Aktie.
oldbrian - very curious. My broker is showing both bid and ask at 11p, but when I request a purchase for £500 the order shows 11.44p. Still a long way adrift of the SEK price in Sweden. Given it's now something like 73%+ owned in Sweden I wonder how much the lack of liquidity on AIM is impacting price and bid/ask spread.
….in the context of the Swedish Government, BEM is nowhere newer their top priority
….in the context of the Sami, if they revealed their backstop position to us (and everyone) they’d lose any chance of achieving their publicly stated arguments
….In the context of Karl Budge, doing everything he does in order to achieve a favourable outcome for BEM in the public domain just to satisfy shareholder anxieties would make him less likely to succeed.
There is plenty going on behind the scenes that we’re not privy to. Be sure if that. We’re grown-ups and will have been part of negotiations and haggling at some point in our lives. As Mr Williams so rightly said “Patience…!” Hectoring for public posturing by KB or denigrating the Sami or Thor on a public BB frequented almost exclusively by BEM shareholders (and a couple of others) isn’t likely to be productive.
Have a nice weekend.
Bennii, if we’re going for facts, let’s at least get them in context. Yes, 12 mines in Sweden, but only 4 producing iron ore (all owned by LKAB). Yes, Sweden producing more iron ore than any other country in Europe (more like 85% than over 90% I believe) but more importantly European iron ore production is a pretty insignificant proportion of global production. What one could surmise from this is that an objective of increasing iron ore production by, say, 40% like, say, LKAB and in an environmentally sustainable way (say!) could make BEM a very attractive target/partner for LKAB (or perhaps any other FE miner (say). Just saying…
TBF, Rick, the Swedes were up and trading for at least a couple of days when we were shut. And a lot of countries take 6 Jan as a public holiday.
More importantly, thanks to AdF’s helpful clarification of dates/deadlines there is an opportunity for Thor to give an indication on 11 Jan, when answering the Q in Parliament, as to whether anything has come in from Sami’s relevant to 7 Jan deadline.
The very final sentence in the Q&A is, in my never very humble opinion, the most important of all.
I have a relatively small investment in NFX but if it does as I expect it will cover a fair few G&Ts.
Chopsy and Greentea1 - hear hear, well said both of you. For what we claim to be the most intelligent species on earth we're making a fine job of racing towards our own extinction. If I was Greta's age I'd be mighty p1ssed off with the non-woke generation's lack of resolve to do the things we know are needed to avert disaster (actually I am mighty p1ssed off about it).
Oaktree- all very good questions. I’ll have a crack at headline answers and no doubt others who know the permitting process in more detail will fill in gaps.
1. No
2. Yes (some set out in the standard process, some dependent on conditions set when exploitation permission granted)
3. To be expected
4. A good question for discussion; Suzy and I have already expressed different views. I agree with Suzy that traders will cash in at concession grant stage, but LTH’s may have a range of views. RNSs (or lack of) will be influential in individuals’ responses.
Suzy you may be right. It’s a personal choice. Original aspirations may have been diminished by the grind of the last ten years. On the other hand determination might have been made more resolute. My opinion of the general trend is guided by my impression of the “when I’ll get out” mood from postings on here since Thor changed our expectations (on timing if not end result)
Mayflower, interesting questions. No doubt that hard bitten LTHs who’ve been through the 10 year mill are more likely to cash in, at least partially, when they cross from red to green. But now that 75% or thereabouts is held in Sweden I’m not sure that the UK tail is long enough to exert a major drag on Swedish enthusiasm but WDIK ?????
Pabslabs, thanks for the link to the UK.investing.com site - it's got all the relevant info nicely grouped together. I use the same Nordnet link as you for Aktie trades. Curiously it's much easier to see the daily trade volumes on the mobile version than it is on the desktop site.
PayJJ, thanks for your comments addressed to Gambier, but no worries on my account. I put him on filter a while back and he hasn’t got over the fact I don’t see or care what he says. He’s got a long track record of unpleasantness for the sake of it, usually his MO is to pretend he knows best and cast aspersions about the intelligence of anyone who disagrees. He contributes nothing useful so I don’t miss hearing from him. GL to all genuine BEM investors!