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So much time has passed and the swedes have shown their hand repeatedly in refusing to engage that more shares at any price would be good money after bad, imho.

I really can't understand how there can be any real appetite for this.
People must be very easily blinded by the discount and a few freebies.
But the fact is this is still a binary situation - yes or no to Kallak, or even more ruinously, years more inertia.
The now massive increase in issued shares, not to mention attendant costs ( dead money ) makes this an even poorer opportunity than before.

Of course it is. it always has been. But who is going to make the swedes accountable other than Budge? No-one.
I would rather he uses the newly raised capital to challenge the legality of the swedes handling of the application since APRIL 2013 judged against their own mining legislation than chuck more money at Kosovo.
Budge is now complicit in diluting shareholder value, somewhat at adds with his declared intent to add shareholder value.

This rights issue is a kick in the teeth for long termers such as Eric Draven with a high average.
But my question must be, what assurances have the Swedish underwriters been given.
Budge is fast becoming a snake oil merchant with a growing portfolio of money pits and nothing concrete re literally any future revenue from the three territories.
The company should be years beyond being a speculative AIM punt.

Absolutely correct.
In my opinion, the referral to UNESCO without justification and at this late stage moves the swedes from a position of mere inertia and incompetence into a whole new area of wilful obstruction of their own legislative mining application process.
Legal recourse must now be seriously considered.

Budge is a mining engineer and certainly no salesman, but, even more than the October presentation, this smacks of a pitch to a potential buyer more than to potential investors?

You should all hope the new fella is more effective and less ornamental than Goran Farm.
You would have thought an ex minister would be the last person to be appointed, given how useless Damberg and Baylan have been. He needs to make an immediate impact.
Where's today's presentation? Not on website as promised. More smoke and mirrors.

Good morning,
Here’s my take on the rights issue, for what it’s worth:
1. There has been a recent flurry of presentations and interviews with Kurt in which he has spun the credentials of the exploration activity across all 3 territories out of all proportion
2. The drilling and mapping activities were, in my opinion, given far more weight than they deserve.
3. Hot on the heels of 1. and 2. Comes a rights issue?...
4. Is it possible that 1. and 2. Were choreographed to pump prime investors appetite?
5. There has been a steadfast refusal to raise funds by a rights issue thus far. Could it be that the avenues used on multiple occasions to boost the coffers have dried up, since the perennially promised pay day of a mining license at Kallak is no nearer now than it has ever been.
6. So to now offer to investors an additional buy in at such a low price plus additional free shares might be seen as a grubby bribe? And why is so much cash needed right now?
7. In summary Eric, I can see a large chunk of the money raised being used to move to BEM being a majority shareholder in VARDAR, this providing Kurt with a lucrative post when he finally has to admit defeat on Kallak.
Only my thought, of course.

It was ever thus.... much ado....

The KU has no teeth
The review changes nothing. Has Baylan been asked to account for his lack of action as he woild on the UK in front of a Commons select committee?
No. He's home free.

1. It will take until the new year for the Swedish government to get round to contacting UNESCO.
Here’s what they’ll say
We have a company wanting a license to build a nasty big iron ore mine quite close to Laponia. If you’d rather they didn’t, just let us know.
And the reply will be.
Thanks for the heads up. Sounds grim. Of course UNESCO opposes such a mine. Thanks again.
And the atrophy persists.

The contents of the RNS has passed into BEM folklore years ago.
For Budge to try and spin the confirmation of a UNESCO referral after all this time is disgusting.
If it’s such a good idea, why didn’t he do the job of a CEO and cut off the escape route to UNESCO 4 years ago.
This is nothing positive. It solidifies everything I said yesterday.
I would put this in the same category as the request 3 years ago for a supplementary submission of information from BEM “ so that the government could arrive at a decision on Kallak “
BEM duly submitted the information, twice actually, and n9thing more was heard.
This will a) take a very long time to to and fro and b) progress this sad affair not one inch.
And hey presto, here’s 2022, a year to be written off for hustings, like 2018.
Please understand. There will be no decision on Kallak in anyone’s lifetime who is currently inevested.

Do you really believe Budge has anything to say in a statement?
I don’t believe he knows any more than long term investors.

It’s all about Baylan getting through to the next election unscathed and untainted by any hint of political conflict ready for his next ministerial role. Spinning it out until then will be a piece of cake.
Then another ministerial clone will appear with his mission statement to take the country forward. He / she will then proceed to do........nothing.

That is not quite the issue though.
The indirect impact on Laponia from a mine at Kallak was left unresolved as the impact was not / could not be defined and quantified.
That’s enough of an excuse for the Swedes. They have a limitless dossier of “ complex issues “ don’t forget. This is just one of them.

The issue of indirect impact was never resolved. It was left hanging. Something else Budge should have pursued to a satisfactory conclusion 4 years ago.

How many mining developments have UNESCO backed over the years, irrespective of location?
Answer. None.
Mining and UNESCO = oil and water.
And the Swedes can go back to sleep having avoided engagement with their own process once again.
Budge needs to go. Faffing about having afternoon tea with the mayor of Jokmokk isn’t going to get this over the line ffs

In Sweden back down to August levels and falling. Nothing will happen this year now. Baylan can coast through to the next election and his next ministerial sinecure.
With no end in sight to the virus, (e has the ideal excuse to do nowt for his overly generous salary and pension. Sweden is a busted fl7sh as is BEM as an investment.

The swedes aren’t losing anything. There is no mine or revenue stream and the ore is still in the ground, in Sweden - waiting for a trouble free time to liberate it. This is not going to be the time.
What they do stand to lose right now is political power. So much more vital to a politician than a non-existent mine.

Yes, absolutely ha ha.
I fully believe the lack of engagement over the years by the swedes has led to a situation where the reality is that Baylan, Lofve, the CAB, MI and Uncle Tom Cobley and all literally do not know where they are at with this or who is functionally responsible for the process, the decision, or indeed the future of mining in Sweden.
Meanwhile, very clear and concise mining legislation lies dormant.