Member Info for Hastyretreat

Credit to Avanza board.
THE COMPLICATED ENVIRONMENTAL CONDITIONS Heavy mining chief to attack government: "They are hypocrites" Beowulf Mining's CEO Kurt Budge has been waiting for 14 years to find out if the company's mining venture could get rid of. “The government talks about legality and predictability. There is none of this, ”he says of the permit processes that paralyze Sweden. To say the least, Kurt Budge is frustrated. Unless, of course, damned. It is fourteen years since the mining company Beowulf Mining posted its first application to start a mine in the Kallak area of ??Jokkmokk municipality. An area that has been known for its iron ore deposits since the 1940s and which in 2013 was classified as a national interest in valuable substances and minerals. The company has even managed to get into Wikipedia's history description of the Kallak area. You can read that “since 2010, the company Beowulf Mining has conducted test drilling and test drilling in the area. The company has applied for a processing license but the matter has not yet been decided by the government ”. But for Kurt Budge, who took over as CEO in October 2014, it's tragic. After all, it is Beowulf who has to pay for it. In an interview with fPlus, he talks about the Kafka-like treatment company received by the authorities. A process that is constantly characterized by new requirements and conditions to live up to and pay for. "They are hypocrites" He is particularly disappointed with the Swedish government and with Minister of Industry Ibrahim Baylan, who for three years has now refused to inform Beowulf Mining. He is completely unaware of why the government does not accept a project that would involve billions in investment and hundreds of jobs in northern Sweden. We have invested SEK 80 million in the project and spent thousands of hours to live up to the authorities' rules and requirements. We have done our utmost to have a constructive dialogue, but we have in principle been ignored by the government. I also think that the government is misjudging our patience to the extent that you think we can wait for any length of time for a message, but it is not, he says. This also sends clear signals to other mining and mineral companies that are interested in investing in Sweden and that signal reads - do not come here because you do not get permission, he continues. But what Kurt Budge is perhaps most upset about is the hypocrisy he believes the government is engaging in. He believes that both the current Minister of Industry, Ibrahim Baylan, as well as the former Mikael Damberg, fought for the breast and emphasized that Sweden is a rule of law and that the various state processes here are characterized by openness and predictability. Nothing could be more wrong, he says I can give you an example. Just a few weeks ago, Ibrahim Baylan was present at a major mining conference in Canada

FarEnd you are embarrassed that you can't follow a thread and should be pitied. You obviously can't handle views different to your own and resort to a bizarre ramble about Brexit. Too right the thread is over as you were never in it.

There's nothing liberal about feeding hungry children or any influence by the BBC. It is called decency and the right thing to do.

Read the thread in order rather than jumping in and getting all in a muddle, as mind reading skills are certainly not required - I think you'll find it makes complete sense.

Aug - I agree legal has and never will be the preferred option but when is enough enough? My tether has reached its end. One can always come up with reasons not to do something. We need more information about what is going on 'behind the scenes'. Kurt needs to be more upfront with shareholders as it appears to be an endless wait and over 5 years in the chair something has to change. Kurt? Approach? Legal? Supernatural? Sitting and waiting and nudging ineffective politicians is clearly not it anymore. IMO

Yawn FarEnd. Boris got re-elected in December. You are conflating my comment on balance the books [local authority] with that of government, which I didn't say. Kids going hungry in the holidays hasn't just appeared because of Corona and has been around for the entirety of the last two governments, which had Tories in No. 10.
FYI I would be as critical of Labour or the other lot for self serving politics as witnessed recently. I just hope it gets extended beyond this year regardless of whatever your obvious politics, but fear once it is off the politics of public opinion it will disappear into Corona austerity.

Also FarEnd specifically in reference to Boris he is a self serving individual. Look at his assent to power. He has and will do things to get and keep power. He is a clever, slippery, calculating and cunning chap and is planning ahead to the next two elections at least. DC is still in place as he is integral to that goal and Boris views him as essential in getting him there.

FarEnd I have read it and I stand by it. Very valid. Are you to now to argue, regardless of nationality, that politicians don't act in self interest?

Locally authorities that have still got to make more budget cuts to balance the books? Boris didn't sort it earlier for two simple reasons : 1) He is a Tory and 2) see reason 1.

Clearly the Swedes in power Suzy. Baylan and the crew. Do you really think any other Swedes matter when a 4% minority just veto decision they don't like. It is like Boris over here -spectacular shambles with covid will make decisions that suit the opinion polls (free school meals for kids in holidays because a prominent black footballer raises the issue - he should have done it as it is the right thing to do but did it because it looks good for him).

Faced with a choice between keeping power and investing in something that will boost the Swedish economy within this political cycle or granting a mining permit to a company(s) that won't bear fruit for 5 years and lose them their seat in power. We all know which way the Swedes will go and it is not going to Laver/Kallak. They will chose what is best for them and what will keep them sitting pretty for as long as possible.

If high political stakes you mean clinging to power at all costs and making the greens 'kingmakers' then you may be nearer the truth Suzy!

Back at you fan girl Suzy - I didn't used to think the legal route was wise, but what other option do we now have? Wait for another election and then hope things change - utter tosh! Rather than your weak and veil pitiful jibes why not get off the sycophantic 'in Kurt we will trust - even if it is off a cliff' fence and wise up that Kurt is not doing a great job by dodging his his responsibilities to his shareholders by doing nothing!

Legal option in our pocket as an option - time to get your hand in your pocket Kurt. You have sat on your hands for too long! If not after 5 years in charge of BEM and nothing doing from the incompetent Swedes, then when? The 12th of never from you - pathetic. More hot air from Budge- act, that is what you are paid to do!

Completely agree Paul. I might feel I deserve a Ferrari (or free BEO mental health mindfulness after all this) but that is not the point. The simple fact is he still hasn't delivered and until he does he has failed in his mission to BEO and its shareholders. 5yrs of eroded value and he needs to pull a rabbit out to turn it around as he seems a nice guy but I rather have a successful CEO than a nice one. Kurt is still pulling a C- (could do way better). One thing for sure is Kurt is being schooled by Baylan!

Weak Swedish Government and country bent over a barrel by 4% of the votes. I used to think that PR was a theoretically fairer system - clearly not and leads to disproportional representation.

Suzy the only things that are ticking away are time, cash and reason.

Ibjj. He also thinks of ways to dilute shareholder value by not getting to grips with this in 6 years. Don't forget he also turns on the BEM share printing press with increased frequency. Poor love must have a sore finger.
We heard from him seemingly with daily abandon prior to last week's predictable Baylan burp. Is he now sulking - when is he going to communicate to shareholders on the next step? At the very least he should have had a message ready for this eventuality, as joking aside, what is he doing apart from getting money for seemingly nothing?.

Suzy it is reasonable to expect truth and fair play, but as clear as day this is not the case and KB as our representative has to finally take action regardless of good or bad opinion. Opinion has shafted us repeatedly and the inaction is bordering on sadistic.

Nothing new though Suzy. I am sure Kurt is as frustrated as we are but it is now long overdue to plot a new course. The legal option has to be now put into action.