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Aktie down over 3%, so Budge, predictably had f all to say of significance.

The U.K. has pledged security and military support to Sweden should they be attacked by Russia.
There is nothing mutual about it. Hardly the love-in you have imagined.

By the time Budge stands up to speak on Thursday, he will have had almost 2 months since the license was granted in top of 7.5 years of planning time with little else to occupy him.
Unless he announces a pun advanced and tangible set of plans on Thursday, he’s a dead man walking, in my opinion.
If he stands up and simply spouts the same intangible stuff he’s been coughing up these past 5 years, he may as well stay home.
I have lost all faith in the man.
He’s like Joe Root as England team captain. Fine playing his own game, but oh so weak when he needs to step up, bang heads and steer a clear path forward.

Good grief, Suzy2!??!!
What a load of convoluted and pointless waffle.
If you want unequivocal percentages, here’s some clarity.
Beowulf shipped tonnage as a percentage of anything you care to mention is zero, and will be zero for a minimum of five years from now.
Everything else is irrelevant right now. Beowulf is a non participant in supplying ore from anywhere to anywhere else.
Comprende?

The RNS is vague, and tangible actual progress is absent.
Budge is still talking about what he plans to do.
Who will pay for this activity, as the company doesn’t have the money.
I’m sorry, but this smacks of Budge feeling obliged to say something, but of course there is little substance.
And the markets agree. SP down 2.45% in Sweden.

Whatever he is or isn’t doing, the much vaunted shareholder value he holds so dear is tanking.
Having already lost 70% in a month, the Aktie has fallen a further 13.73% today, 8 million shares having been traded.
And you still trust this guy??
It’s always jam tomorrow from Budge, but he’s no idea how to make jam, or when tomorrow will be.
Meanwhile, there’s plenty of jam for him every day, regardless.
Not good enough by a country mile.....

Eric,
Good afternoon. If he hasn’t already had exploratory talks with a number of JV partners / buyers, he hasn’t been doing anything for 7.5 years. What possible excuse would he have for not having a thick, active ongoing file of contacts?
This guy gets cut so much slack by long termers. He is the CEO for chr8st’s sake!! Who else should be doing the legwork?

You need to pray very hard that Budge still has an audience by 12th May. The swedes are still bailing by the day.

Budge is on his feet on 12th May.
He simply has to deliver a plan for Kallak which is costed, quantifiable and with an outline timetable. A routeplan to a productive mine. Financing, active development partners all need identifying and their roles detailing.
The impact on a consistently improving shareholder value, without further dilution must be included.
If he stands up and gives the same presentation as he’s been giving for the past 5 years, he may as well stay home.
If an outfit as flimsy as Vardar can manage to blag millions out of Budge, why can’t he find similar partners to finance Kallak. After all, the company has a concession to mine Europe’s biggest unbroken body of ore, doesn’t it?

That presentation was a regurgitation of the same hypothetical, situational, pie in the sky theory Budge has churned out for years.
One thing it was not, and where Budge has continuously failed, was any hint of transactional plans. The “how” is absent.
Even now, with the much anticipated and long awaited concession in the bag, Budge is in no position to say how all this glorious potential ( in all 3 areas ) is going to add some of the tired “ added shareholder value “ he keeps trotting out.
A CEO who achieves real value, is ahead of the curve, proactive, and in charge of the company’s destiny.
Budge dabbles and skims, appearing reluctant to get his hands dirty. Anyone can chuck millions of other people’s money at all unproved Kosovan greenfield site. Stating he has respect for Vardar’s management team does not cut it for me. If they are that good, how come it’s always Beowulf funding their operation?
Budge needs a sizeable rabbit out of the hat immediately. If this is not forthcoming, how on earth will he raise the next tranche of cash, which will be required in the next few months.
His inaction and lack of direction has added to the devaluation of the company, which is horrifically reflected in the current SP.

Suzy2,
You’d be excited if your house was on fire....

When the ‘yes’ surprisingly arrived a month ago, I imagine investors were euphoric?
Thor is maybe smarter than you imagined. The timing and manner of the announcement was designed to wrong foot Budge. Not difficult.
Adding the vague, yet fundamental caveats strengthens the hand of the government and LKAB.
Thor has Budge over a barrel. The only sensible partner is LKAB, and they may be the only partner the minister will support, but he will support the partnership on his terms.
I don’t see Budge holding any strong cards in any negotiations.
Without agreeing to LKAB’s terms, there will be no mine, and the concession becomes worthless, as the SP already demonstrates.
Budge has mishandled the sequence of events so poorly.
With so much time to prepare, it amounts to a dereliction of duty, IMO.
And a month of silence ffs
The Company website hasn’t been touched re Kallak. Lazy.
Investors deserve much better, particularly since £1.25m of the money you invested 16 months ago ( in Kallak ) has been chucked at Kosovo. I would be seething about that alone, even without the Kallak concession.

At least investors knew what they were waiting for before the exploitation license was granted.
Without anything tangible to anticipate, the Swedes have fled in droves. I don’t blame them. Seems entirely sensible to me.
Giving Budge the license is like granting a license to kill to a man with no weapons and his hands tied behind his back

Defeatist, vacuous waffle, Suzy.
Budge clearly doesn’t have a clue. Professional, slick marketing consultants and PR agencies do.
Appoint the professionals.

More’s the pity!
This share has always been driven by sentiment, so a more dynamic PR presence, whether from the CEO personally or a good PR company is long overdue.
With three areas in development, each needs it’s own identity to maximise impact ( on the SP )
Currently, there should be serious, professional media and investor news flow after the concession was granted.
To allow a ragbag of greenies and reindeer butchers to hold sway, without a response is crazy.
The company should be on the front foot, making the most of the significance of securing the right to mine.
I don’t want to hear any ‘ it’s not Budge’s fault ‘ nonsense.
The buck stops with him and his sitting and waiting time is over.

The fact he has nothing to say is precisely the issue!
Having had 7.5 years to prepare for the arrival of the concession, investors should be awash with news right now? And good news too!!

In a recent RNS, Budge admitted to his deficiencies in communicating with investors.
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.

Without regular hard news, the SP is going nowhere. Wake up to that!

Well Andy whenever changes on here is the lack of appetite for or ability to see reality.
I don't seek to be disparaging against Budge. He does a pretty good job of making himself look weak and unprepared all on his own.
Ever seen his amateurish presentations?

And the longer the silence from the CEO persists, the more I believe he was unprepared to receive the concession. Just wasn't expecting to het it!
Some past odd decisions also back up this view. Around the time of the mates rates fundraising, an extensive drilling campaign to fill in the gaps at Kallak was postponed " due to covid " according to Budge.
I never believed that.
In my opinion, he was already losing faith in Sweden ever granting a concession, yet raised money on the back of Kallak, which we now see was destined for Kosovo.
I also believe Thor wasting by the RNS last month which slammed Baylan for saying the company is welcome to do business in Sweden and Budge's caustic response of "apparently not"
Thor has responded by saying OK here's the concession, which you have zero capacity to act on without a partner or buyer.
Given that the only serious candidate for either is LKAB, Thor retains control.
Budgehas been played like a cheap fiddle.
Before he announces anything else, he should apologise to all the loyal investors who dug deep 16 months ago for being unprepared for the key piece in the Kallak jigsaw he has sat and waited for for 7.5 years.