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Eric,

You also quite rightly question the 6 month strategic review.

There is no need for this in reality. It is a device to buy time and 6 months more salary for little effort.

The imminent fundraise will be at a price of approx 1p, so a cash call of £5m will add 500 million additional shares.

Even if there is progress somewhere in the ragbag of projects, you will not see a payback, simply as a consequence of the arithmetic of serial dilution.

Eric,

You "somehow get the feeling you've been stitched up here"

Well you have. The directors of BEM past and present have enjoyed a comfortable existence at your expense for 12+ years, on the back of what's in the ground at Kallak.

Your clear frustrations and indignation is wholly due to your expectation of your sense of fair play being shared by those directors.

They do not possess the semblance of fair play, purely the greed to continue milking anyone prepared to take a punt.

Sorry Eric, that won't change.

Why on earth would any CEO ( assuming they have been appointed on ability ) want or need assistance from a predecessor who patently failed to achieve anything in 8.5 years?

Pure nonsense.

Good to see the gravy train for the directors is still in full steam ahead mode, while the investors are still stranded in the sidings.

Perhaps CSP is due some dosh too?

Taking the p*ss

A PFS is an internal, unregulated piece of work, whose contents and figures can be:

1. Designed to create an unrealistically positive spin

2. Fuel a possible SP increase when a fundraise is imminent

3. Mask a dearth of real and tangible progress

The fact is this is part one of the PFS. How many more instalments there might be, and when they will appear, who knows?

The financial projections are, in my opinion, utter pants.

The profit margin projections ( guesses / lies )for a fully operational processing plant are crazily high. Payback in 2.4 years ha ha

Smacks of more ameteurism and desperation to me.

There’ll be similar plants on every street corner before BEM have got off first base, which will massively reduce unit prices.

Get real people, the new board are not to be trusted.

Kurt,

How’s the yoga going?

I bet you’re great at the downward dog - modelled on the wreckage you left behind at BEM!

Finland is a scherade.

BEM have no tangible assets or ability to invest in the country. All they own is a redundant exploration licence, which they have no intention of developing.

Who’,s paying to build and staff and supply the processing plant? Not BEM.

Dream on.

Strange how it takes more people to sit around reviewing the situation ( ie doing nowt ) than they said it would take to complete all the work they had planned for 2023.

Nonsense.

Always talking about the company's "ambitions"

Never any action.

The board has been shafting investors for years. The inly change since yesterday is that the board can no longer be bothered to try and cover their crass incompetence with vague pretence of exciting plans to keep investors at arms length.

I would say their behaviour is fraudulent and criminal.

Eric, the AGM, like everything else connected with this company was a non-event.

The board are masters of action avoidance.

The fundraising price will be around 1p!

If I see one post saying it’s a great opportunity to get in at the bottom, I will scream.

How many were stupid enough to say that at 3.16p and 2.06p.

The board are a bunch of shallow, self-obsessed lying incompetents, with no consciences.

They have to sell all 3 parts of the business and get a proper job.

Ulla clearly is already effectively redundant after yesterday.

Can’t wait for the bland, vague piece of nonsense RNS stating nothing to see here. Wait for the positive spin series of RNS when we want more of your cash in a few months.

Meanwhile, we are putting our feet up.

I could very plausibly conclude that shutting up shop and appointing a money man, rather than a miner as CEO, he is in post to oversee a fire sale before the next fundraise.

That fundraise would add approx half a billion shares, effectively scuppering any payday for private investors. It would also struggle to be anything like fully subscribed.

Good god!

No review is required. For months, they’ve had nothing to do but review, as clearly nothing rational has been happening.

The appointment of a new CEO in a situation of the former incumbent leaving suddenly is to avoid losing momentum, surely. What little momentum existed has today been halted for absolutely no good, operational reason.

Scandalous. This is indistinguishable from a scam.

Looks like the revised timetable is to cram the whole of the planned excitement for 2023 into the second half of the year. Does that man twice the excitement from July to December?.

Wow!!

Even with the appeal denied, the arithmetic just does not work.

For investors underwater now, breaking even is a pipe dream.

The current and falling SP, and the née to raise funds before the end of the year at 1p or less means this is no more than a terminal spiral for investors old and new.

Best to get the lot sold.

All perfectly valid, true and factual, Pocko.

The most unpalatable fact is that BEM and it's ragbag of synergy free 'projects' is now no more than a monthly paycheck plus zillions of shares to a handful of people who know this is going nowhere.

Just sell the whole lot to the highest ( sic ) bidders and forget the last 15 years happened.

I fear for Eric's sanity. A sincere, inclusive bloke who believes in fair play, which sadly doesn't exist on the AIM market.

BEM has continued to stagger along purely due to what is in the ground at Kallak.

And in the ground is where it is likely to stay with the lazy, greedy board you have now.

Not even extending, IMO, TFE.

More like shelving.

BEM - always looking forward to a busy schedule, but never actually getting there.

This company could strike pure gold in 10kg lumps and still screw it up.