Member Info for Mayflower

It is and maybe it’s headed for Swedish market, but it’s good to see any buys and upward movement in SP.

The case for grafintec looks compelling, so expect that to make the Strategic review a lot more straightforward. Biggest questions will be on the pathway for Kallak, I hope the 6 month review includes detailed discussions with possible partners. As for Kosovo , hope can salvage some of our outlays prob with sell off.

Thanks Kever

Do any of you know when the DCUs will become tradeable? And what is your guess/opinion on initial value?

It is actually good to see that this board are pretty unanimous in how we feel about recent events. We’re all in the same boat. I am not one bit surprised that the new CEO wants to take some time to better assess options and best way forward. If I was coming into a business where previous CEO had done a runner, I’d want to do same rather than assume previous plans were perfect. It is annoying that this has and will continue to affect the share price, because a very low share price could in itself limit the options. But if I was stating in august I’d want the lowest possible price for my share options, wouldn’t you.? However I even if that is the case he still has to believe in a positive future to gain any benefit.

I like the sound of the phrase ‘jokkmok iron is now in full swing’ , wish it was.

Lbjj , I hope Kurt does not read this board, he’s CEO of our company and has far more pressing things to be getting on with, added to which he would learn nothing on here apart from the sad misguided state of a tiny proportion of his shareholders

Do we think this is being held back by talk of windfall tax on North Sea oil producers or is that only for the very big cos.

Do we have any indication when Sweden will reopen?

I also topped up @ 12.75

Good luck but I’m sure you’ve gone a week early. It’s next Friday morning.

Thor stated many weeks ago that the decision would be announced in March so do not expect anything other than comments before then. Nothing from the Swedish government has happened ahead of schedule so best not to expect it now.

Does anyone know how many shareholders we have in Sweden. I know there are 629m SDRs issued. Is it reasonable to assume the average holding will be about 20,000 , suggesting 30,000 shareholders. Any other views?

Did you know that Europe only has 3 mass producers of iron ore? The other 2 are Russia and Ukraine.

I agree 640 should be bottom, we are there time to buy

Suzy fantastic and win win are the same in both languages. I’m convinced that he wants to give us the go ahead but is looking at what he can give the Sami by way of compensation. That’s why he’s waiting for their response, so that we can do something to offset their concerns.

The problem is both sides know it doesn’t end here. If iron ore is to remain part of Swedish economy we will need more mines in next 5 years. The Sami know that there will be other mining applications to come. All the iron ore mines current and future are in Sami areas.

Well I listened I didn’t understand it but thought I heard talk of win win, and many mentions of fantastic by Thor . Am I right to feel positive. Expressions weren’t giving too much away but both seemed satisfied

Sweden currently produces 80m tonnes of iron ore from 4 mines. Roughly half of this is exported mostly to EU countries. Globally most of the mining for iron ore takes place on the other side of the world , eg Australia, China , Brazil. The only other sources close to Europe are Russia and Ukraine.

Iron ore earns the swedes 3-4billion US dollars in exports. Currently Swedish iron ore has poorer quality ( ie less iron) than most of the rest of the world ( Russia has higher iron content).

As things currently stand Sweden will lose revenue from iron ore was resources become depleted and the world demands higher grade ore. Europe also has significant interest, will not want to rely on Russia.

Sadly Kallak alone is not big enough to provide what is needed but can make a big contribution. Sweden will need 5 x Kallak if it is to maintain the countries income from iron ore and meet its own industry needs.

If they do not approve Kallak they reduce the likelihood that others will search/ come forward with new prospects/resources for the future. As for climate change , where is the sense in shipping iron ore from the other side of the world.

This has got to go ahead.

I suspect a lot of the buying interest in this share is being driven in Sweden, and much of the selling comes from the UK. Maybe the swedes feared a drop tomorrow as UK came back in stream.

Whilst the swedes understand /are closer to the factors driving share growth do you think that the history on this business is too bizarre to attract new buyers in the UK.

Are any on this board new first time buyers of Beowulf?

I’ve also been reading up on the background for Karl petter Thorwaldsen. He is not jus for mines, he is about jobs, and would love to bring new jobs to depressed areas. He may also want to broker a deal between Beowulf and LKAB going forward. All looking so positive but we should not be surprised at the lull between last week and next set of announcements.

This was obviously in the balance for Baylan , which combined with his incompetence led to no decision. That balance has shifted with the sidelining of the Greens and that can only move it in one direction.

Exciting times, and were all hoping for the same thing (I hope)