The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Budge has become too accustomed, after 7.5 years, to sitting on his hands and waiting.
Well, the wait is over and after a free ride all these years, it is high time Budge did what CEOs do, and grow shareholder value - something he has done nothing to achieve thus far.
A week after the concession landed, to have only said thanks, and not, as a bare minimum, shared outline plans and options, is crazy.
I am sick and tired of the undue adulation this guy gets. CEOs drive, they don’t spectate.
He has had 7.5 years doing not a great deal, so to not have a number of plans ready to go, partners warmed up etc etc, is inexcusable.
To quote Bojo, these plans should have been “oven ready” on Tuesday when the concession hit.
What else has he been doing, for goodness sake?
It was a pleasant surprise on Tuesday when Thor coughed up the concession. Given the debate in Parliament tomorrow on Kallak, it almost seemed hasty haha.
As he appears to be more genuinely hands on and pro mining than his predecessors, just my musings, but, in an election year, it would be strong political capital for him if he were able to broker a sale to LKAB, and claim victory for Sweden over the pesky brits?
Gambier14,
I appreciating you corroborating my post.
The SP has, for a number of years been driven by Swedish trading and sentiment.
Sadly, the swedes value anticipation more highly than reality, which informed the hope and expectation of investors on this board.
3 months ago, I said the concession was already priced in to the SP. At the time, the SP was the same as today. I was battered for being negative, as always.
The long term damage to the confidence in this share that 9 years of unwarranted dithering and dilution has caused, cannot be recovered. It is gone.
Budge needs to produce significant news very quickly. Someone suggested earlier, he needs to start talking to interested parties. He has had 7.5 years already to do that. His ducks should be aligned, and partners primed to expedite a sale or JV this side of the elections.
Before anyone says it, the EIA is, in effect already submitted as part of the additional, voluntary info submitted 4 or 5 years ago.
He has stated on several occasions that the granting of the concession is the only thing holding him back. Prove it.
The Sami represent the worst of Sweden in the 21st century:
Anachronistic, legacy culture, which drains the economy and milks the current fad for green at any cost, uneducated wokism.
Also totally hypocritical, as they use all the technology on offer in their herding activities.
Nothing more than a redundant sacred cow, and a modest tourist attraction.
Reindeer herding should be properly regulated by the Swedish government, like any other livestock business.
How they get away with the way they slaughter their beloved reindeer is beyond me.
Morning Eric,
Sadly, with 200m plus shares changing hands since the announcement, most at a price significantly higher than the current SP, many will be trapped here now, as you have been these past years.
Kurt needs to earn his corn now. He has had so long to prepare, he must deliver a flurry of news in the very near future to establish some upwards momentum, otherwise, the same ennui as pre concession will descend on this saga for some time to come.
Good luck Eric.
PS, I’m still not in, thankfully, or I’d be trapped too!
I would like to congratulate Eric Draven, Suzy2 and all long termers here, now that you have the concession you have waited over a decade for.
Budge has had 7 and a half years to prepare for this. Looking at the SP this morning, you should hope he has prepared well.
Budge and Thor have still never met. Tells me all I need to know, given the amount of time Thor has lavished on the Sami, not to mention the unjustified additional time he has given them for absolutely no good reason.
I’ve seen enough to know Thor is exactly the same as his predecessors. Fecking useless.
Gambler,
Yes. Economic hypocrisy of the worst kind.
Create a precarious economic dependency on a rogue state run as an autocracy by one unopposed madman is unlikely to end well.
And nobody anticipated this?
Come on!!!
So we light up public buildings blue and yellow, whilst Putin's shabby rag bag of unmotivated conscripts amateurishly and murderousy destroys Ukraine.
The West is doing literally nothing to make a difference to Putin's lunacy.
The continuing appeasement of a man who invents his own truths will continue to embolden him.
I would hope we have people embedded within the Kremlin who have the necessary resolve and capability to do the deed.....