Member Info for Gambier14

“Its a bot”

Do you think?

“Having had a few days to digest the personal background of the new CEO, I fail to see how she fits the next very practical stages of financing, building and operating a mine”

I agree.

And how does she change the fact that BEM quickly needs a cash rich partner to develop a mine?

Clock continues to count down on a cash call at a very low SP just to keep the current stasis going.

Nearly at the sub 5p pre-concession news jump. Didn’t take long.

“You're making a poor job of it. And you're rude to other posters”

Well said.

Great post Oaktree.

Without a JV they will have to tap shareholders just to keep ticking over and carry out some relatively superficial Kallak work. For as long as that is the situation we will see gradual drop in the SP probably to below 5p again.

It is either a JV or the SP will remain in the doldrums. A simple cash flow calculation. As there aren’t any significant JV talks (or an RNS would have been issued ), we get an RNS that doesn’t contain anything substantive, just aspirations and hopes.

And there are people on here who are still actually wondering why the SP hasn’t rebounded.

‘Which is the 'true' value for BEM?’

Thats easy - both can be the correct market capitalisation.

Totally agree Ibjj. A nothing burger RNS that further suggests to me that they are not in talks with anybody at the moment. Kallak appears to be on the back burner for 2022, the other assets seeing more progression. Of course, if they decide to actually do something significant at Kallak it will need a cash call in my opinion.

If he is discussing anything about acquisition or partnership of the company then he has to issue an RNS on the basis that it is sensitive to the share price. An RNS hasn’t been issued because he isn’t in any substantive talks with anybody.

If there were any significant talks happening about a potential acquisition or JV it would have to be announced to the market.

The regulators are quite clear that anything that could significantly affect the share price of a company has to be announced.

The market doesn’t believe the company can progress the asset. There is nothing coming from management to counter that belief.

The company is also spending money elsewhere and doesn’t have an income stream. Shareholders will be tapped for some cash flow in the not too distant future.

“The ensuing silence demonstrates he either has no intention of eliminating his deficiencies or he has no plans to communicate. Neither is acceptable and the SP is an honest reflection of exactly that”

Ibjj, I think this pretty much nails it. It is interesting how some people didn’t consider the possibility that the silence was due to the fact that he didn't have anything to report about Kallak. It was assumed that he had an immediate plan and it is was assumed he had interested buyers lined up. The silence indicates to me that he has neither.

I actually didn’t think he would have either. I just assumed the concession would push the SP to a stable low 20s for a number of weeks and I could get out, not having to worry about the next stage of developments (or lack thereof). Again, my total misunderstanding of the market for BEM shares.

Outside chance is that he is in negotiations now and doesn’t want to disturb that with a RNS. Wishful thinking.

KB needs multiple keen buyers of Kallak to enable bidding. We cannot be sure there are any keen buyers. If there is only one interested buyer they know they have BEM on a short leash with the current SP and cash reserves - they won’t offer huge sums.

Kallak isn’t as well defined as some people make out. Very positive results from a 3D seismic would have helped. As would some more (expensive) drilling. The reality is nobody other than the top people in the industry knows how much genuine interest there is in the asset. The current silence doesn’t look good. If he had multiple buyers in discussion he would announce that he was currently in those discussions.

Maybe we are more likely to hear about the others assets in the near term with Kallak news being very generalised / non-specific for the rest of the year.

There is buying if sellers are willing to off load at ever lower prices - which they are. No reason why this couldn't be 5p (pre-concession hype price) in the next few weeks.

I think it is reasonable to offer the possibility 4) Nothing will happen

“Price has risen through expectation, now its also dropping through negative expectation”

Yes, that is how the stock market works.

“For Kurt to say 'I know nothing' is denying the facts”

The fact is the SP cratered and he says he doesn’t know why - but he does - people kept on selling at a price that got them out. That is a denial to say otherwise. But that isn’t the point, in the very immediate trading days he can’t control the markets desire to cash out aggressively. He is however in control of its recovery. If he hasn’t got something lined up for Kallak in near term he has failed in his job.

A diversion from Kallak.

That sort of spending means a cash call soon. I won’t be handing over anymore money so that means a dilution for me.

As the weeks of silence on Kallak becomes months, Ibjj’s question about giving the concession back won’t seem so tongue and cheek.

“Gambier you have claimed you traded it up to the decision”

No. I have not. Not on a single occasion have I ever claimed to have traded this share. So as usual - stop telling outright lies and getting overly emotional with everybody else. And stop telling other people to drop the insults when you are one of the main culprits of that behaviour.

I have stated on multiple occasions that I had too much invested to be able to get out quickly but intended to sell once the concession was granted and sacrifice any SP increase that might be associated with the development of the mine - I didn’t get the chance. In hindsight I should have sold in the mid-teens and still took a healthy profit. I didn’t and this looks to be getting worse. Luckily my average is still below this SP.

“I don't thik anyone on this board foresaw a fall off such a dramatic nature as this, except gambier of course”

No, I predicted that on gaining the concession there wouldn’t be a massive SP spike to the sort numbers being thrown about on here. I stated that without quick news of a JV the SP could retrace. I thought low 20s seemed reasonable for a few weeks. Never thought the SP would collapse immediately after the concession. I misread the move up from 5 pence - it was traders looking for a quick buck all the way.

Ibjj actually called it pretty much right.

It looks terrible with no bottom in sight. My failure to cash in when I had the chance is all my own fault. I’ve missed a big pay day here. But I won’t get all emotional about it and invent moronic conspiracy theories as some coping mechanism. I called it wrong - end of.

The irony if this goes back to the 5 pence pre-concession hype

Looks like the SP will be one third of what it was at the post concession spike. That is incredible profit taking (and at this SP loss limiting for some). Shocking collapse.