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Nothing more to be said now from any stakeholder.
Thor has a watertight application as judged by his own country’s legislation, which would, if necessary withstand the scrutiny of any judicial review.
He must decide in the company’s favour, and quickly.
Nerves appear to have settled, and despite low volumes, the SP is stable towards the top end of recent trading.
The hustings will begin within the next month, so he must clear this from his desk before then!
There are just a few thousand head of reindeer who could potentially migrate anywhere close to Kallak.
No matter where Kallak happened to be, the Sami would claim it was slap bang in the middle of their chosen migration.
The oath the reindeer herders choose already avoids all natural dangers and obstacles, such as steep escarpments, lakes etc which the animals would be endangered by.
There is no difference between that and migrating around a properly fenced off mine.
The Sami have been indulged for too long, which, in any situation leads to the unfounded belief in entitlement.
Thor needs to tell them what’s what ffs.
It is, and always has been, a political decision.
Crucially, it is a decision underpinned by law, and the law is squarely on the side of the application.
For Thor, it’s a simple tap in. Is he a man of his word, or is he just another Damberg or Baylan. In my opinion, that is the only consideration between now and the decision.
Now that the 9 years of waiting, without a realistic prospect of a decision appears to be nearing an end, investors are faced with the novel prospect of having to manage their expectations over the very short term, both here and in Sweden.
Any movement in the SP between now and the decision merely reflects the relative levels of caution / nervousness / confidence.
The recent and rapid rise from 0.5 SEK to 2.0 SEK also affords many with the bonus opportunity to take a profit now. Many appear to be doing this for their own reasons.
A step change in investors expectations will happen when the decision is made.
Plenty of meat in that RNS.
Facts, not ideological bleating.
I have to say that is by some margin the most powerful RNS coming from Budge’s desk that I have seen.
Now we wait. Every reason to be confident, as long as Thor doesn’t bottle it.
Greta's continuing existence depends entirely on a social media presence.
Social media depends entirely on the existence of digital devices.
The existence of digital devices depends entirely on the mining of metals and minerals.
Ideological rhetoric has no basis in reality.
Don’t be.
1. Thor has said too much in favour of mining, making anything other than a yes after 9 years and relentless criticism of inaction political suicide for him.
2. He has engaged extensively with Sami representatives over the past 3 months in order to condition them to a mine.
3. He has publicly stated a decision would be delivered very soon after the Sami’s final submission of 2 February
4. Said submission added nothing to their many previous statements, and much of it remains inaccurate anti-mining propaganda.
5. He has openly admonished the CAB for their collusion with the greens and unprofessional conduct by removing their top man from office.
6. Politicians need to be seen to be absorbing previous Green Party policies into mainstream party policy in order to accept the inevitable green transition of the economy at large.
7. Norbotten will become a big vote loser unless an economic stimulus is found. Kallak is an easy fix, and there is no other available.
8. There is no local political opposition to a mine at Kallak. Bernhardsson has been onside, as well as many other businesses and stakeholders in the region for some years.
9. Infrastructure, including transport links and power supply is in place.
10. The country’s mining reputation has been gravely damaged and a yes to Kallak would go a long way towards rehabilitating the image it has acquired.
11. Thor knows he can’t say no
Of course the company will need to accommodate the reindeer herding, but these are merely a matter of negotiation. Budge has made many failed attempts to meet with the Sami to discuss same. I suspect they will be extremely keen to come to the table once a tes decision has been communicated. Their principles will suddenly become less rigid.....
There is a lot more I could say, but the above is the cleanest version I am able to post!
The Sami's final submission is in and adds nothing new, as was anticipated. That Thor has allowed more time to the Sami for this submission, he has allowed them to demonstrate they have already used all their ammunition
Great, the church et Al should and must be ignored vy the minister.
It is time for the law to be enough, and quickly, in order to snuff out the rent a mob rantings.
Absolutely nothing new. Same old "why can't we all just live in caves for evermore " one sided rubbish.
As far as I can tell, there is nothing that should phase Thor in the slightest.
Please step into the limelight and make the decision the law and your office dictates, minister.
Given Thor’s many pro mining pronouncements, I would hope the various meetings and outings he has had with the Sami served to impress upon them that Swedish law will produce a yes to a mine at Kallak and they should turn their efforts away from simple protest and concentrate on co-existing with a green mine for everyone’s benefit, including theirs.
It would not be unreasonable for him to have also thrown into the mix the very high levels of protection afforded to Sami culture, and the generous subsidies for a lifestyle which also relies on commodities being available to furnish their 21st century lives, while espousing medieval nonsense about their cultural heritage.
The Sami have always been strong on noise and weak on substance.
Now, without the greens very effective spanner in the political works, the CAB’s Sami / green colluder removed from the CAB, and the new minister professing to love mines, expect a lot more noise this week.
Although the above appears to provide a strong alignment in favour of a swift and positive decision for a mine at Kallak, nevertheless, Thor has to take the enormous political step to develop his cheap rhetoric into resolute, legally sound action in order for the first 3 months of his tenure to have any real meaning.
GLA, especially Mr Draven, who has been perhaps the most obdurate and amiable in his belief that a mine will one day be given the green light.
after next Wednesday, there are sure to be many with fingers hovering nervously over the buy or sell buttons!
I seem to remember Baylan, or maybe Damberg saying the decision would be communicated after markets close, but both those guys were incompetent liars, so it will probably either leak or the Sami will get news first, which is thus far how it has always happened.
I agree with Eric in that Budge needs an oven ready RNS for all outcomes. He must not go to ground.
Quite comical.
I wouldn’t take a great deal of notice of reported trades on BEM shares right now. There’s a lot of chicanery from the MMs, who seem spooked by the odd punter bailing out with no more than modest volume.
They know this share could disappear without trace in a couple of hours if the decision is a no ( almost impossible, IMO ) but they are so scared of being left with overpriced, unsaleable stocks.
Most Swedish economic indicators are in decline and have been for some time.
Regarding the egotistical tyrant, Putin. In my view he sees the USA as weak under Biden, and is indulging himself in his favourite dick waving. He mistakes fear for respect. As he will never acquire the latter from the US, he uses fear.
Would he have behaved like this when Trump was in charge? No way.
As far as dick waving goes, let’s be honest, Biden needs a nurse to help him find his.....
John the golf,
You are perfectly entitled to have faith in your heavy investment. But it is informed by a need for a payoff rather than the evidence thus far.
It is sill of you to say anything about the decision being a no. Of course that will never happen. But delay is the ally of the weak, and you have 9 years of evidence of that being their only tactic.
Thor has been in a number of meetings with various Sami groups as well as a full day out with them on the skidoo.
Yet he has not even said hello to Budge. Don’t you consider that odd?
Thor has said on many occasions he loves mines. It is meaningless without a decision and action to back it up.
He probably loves world peace and an end to the climate crisis, but he is unlikely to act to make a jot of difference.
His performance on TV tptesterday was just more hype. He was deliberately general and vague in his comments, and he wasn’t pushed.
If Paxo had been interviewing, when he professed his love for mines, he would have pushed him on the long overdue Kallak decision. There was none of that. Another easy ride for Thor.
Absolutely Eric!
And, of course, the Sami’s comments may themselves provide Thor with his get out of jail free card, as the comments may need lengthy and thorough investigation and further input from all sides.
I can’t bring myself to trust him, until and unless I have hard evidence that he can be trusted in the matter of the Kallak application.
More solid news, ADF.
Easy to attach too much importance to this without context, but could Thor be more clever than we think?
I hope tonight's interviewer is astute enough to quiz him on what happened on his skidoo trip with the Sami.