George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
He's gone because he knows his stupid talk of 'transformative years' and a mine at Kallak in 2026 he is never going to deliver. Similarly the processing plant in Finland.
None of his pipe dreams would have been delivered by him.
Seriously found out and glad to see him go.
Good grief!!!
Same waffle, same empty promises.
And the amateurish, stuttering interviewer did not ask the obvious questions:
How are you going to achieve any of this without a buyer / partner, funding, workforce? Who is paying for the mine construction at Kallak, and the production facility in Finland?
Ironically, it seems the thing Budge is most proud of is the exploitation application, which he had nothing to do with.
Budge is an embarrassment.
A third of the way through what Budge promised would be ( another ) busy and exciting year and zero progress other than a partially successful fundraise.
" I'm alright Jack " says Budge as he pulls the duvet back over his head.
Suzy2,
Without a mine at Kallak, there is no need for a rail extension at all, so it’s not the inlandsbahnen, but BEM who will be held to account by the Sami.
And, as I said earlier, nobody believes for one moment that BEM will have a mine at Kallak. The ridiculous 2026 assertion has already gone. Budge misses the target every time, doesn’t he?
I should add that the endlessly pending Sami appeal against the mine at Kallak May well include an objection to the essential 40km rail spur from the existing main line to Kallak, which would disrupt the reindeer migration much more than the mine itself.
All this should have been boxed off during Budge’s 7+ years hanging about waiting for the concession.
And I will say again, the £3.5m blown on Kosovo in this context is criminal, in my view.
The fundamental issue for investors and the Swedish authorities is that whatever credibility the company ever had is trashed through the neglect and mismanagement of Budge and now Ulla.
Anyone who has the ability or influence to affect this moribund situation positively just does not believe in BEM, specifically those supposedly managing it.
During the 7+ years Budge sat waiting for the concession, he stated on a few occasions that infrastructure to swedish ports by rail would be no.problem due to the proximity of the Inlandsbahnen to Kallak!!
More hot air and presumptions from him without actually doing the work to satisfy anyone that this would actually happen.
Amateurish.
The scoping study was supposed to be one of the so called inflection points and yet the SP never broke stride from it’s steady decline.
I don’t see the PFS being any different.
If only the Kosovo money had been drilling the chuff out of Kallak these past 3 years.
Shocking decision priorities, in my opinion.
And every comment is relevant and valid.
If, by some miracle, Budge turns this around, I’ll be happy to acknowledge his input.
I am sick of him telling us what a busy year is in prospect and then watching him trot out the same generic pap at every interview. Where’s the new stuff that’s keeping you so busy?
At least he’s dug his suit out from the back of the wardrobe!
Eric,
I am going to speak plainly and honestly to you and hope that you accept my comments in the spirit in which they are offered.
Suzy2 will be all fluffy and charming with you as long as you show no dissent to her deluded ramblings.
She will turn on you as she turns on everyone who is realistic about Budge's fundamental failure.
You deserve better friends than that.
Another bonkers post, Suzy2, to say that the SP is irrelevant. This is an investment. Of course the SP is relevant. It is fundamental - a barometer of the abject performance of your beloved CEO, who, in any other position would have been given the bullet yonks ago.
So, in summary you believe everything is progressing on schedule, even though the schedule is unclear, and the SP is irrelevant.
Many people reading such dangerous and deluded nonsense should be offended, including Eric, who has staunchly stood by BEM and you.
In my opinion, he is misguided on both counts.
Environmental permit submission until the amendments was 6 - 9 months away. It's n ow 9 - 12 months away!!!
WHY?
Budge has in several occasions asserted that much of the work was done by virtue of having such a gold standard application for the exploitation concession?
Now he has a fellow director exclusively assigned to this task, it should be completed faster, not slower.
The time for hoping for an upturn and excusing shambolic performance and communication has passed.
Budge needs a rocket up his backside.