Member Info for Pocko

Placing around the 3p mark is my guess... Nearly 2-years after the offering at... 3.16p.

What's been achieved to add value since?

He'll regurgitate the RNS...

It's a collaboration at this point - A talking shop.
3-5 years for a proposed processing facility?
Proposal? Is it a planning application or not? Big difference.
What/where is the pathway to mining?
Owned Grafintec since 2018 - Achievements to date?
Loan to be repaid in February 2023
Capital raise imminent
£2.1m spent on Vardar with only promising test results to show.
Scoping study to be completed BY Q4 2022
Environmental application to be submitted BY Q4 2023

And then the actual planning application? That's right, a planning application will be required after the environmental permit is achieved.

These are just some of the pertinent points hidden behind the flaky waffle.

So expect any movement in SP in 2024, and in the meantime, more borrowing and dilution.

Because it's flaky nonsense... Another carrot dangled in front of investors.

BEM has aspirations to mine, so what's happening with our resource in Finland?

And when a partner actually puts money into a project, then you have a real JV.

It's time to over- deliver. Where's that scoping study?

It's a private limited company, of which Kurt Budge is one of four Directors. He was appointed on the 5th November 2018.

And because it's a private limited company it's finances are opaque, legally obligated to only submit profit and loss, and assets.

There will be shares in the company, perhaps 100 for example, and their value does not fluctuate in the same way a listed share does. They can be structured in many different ways. KB may or may not possess shares.

And the loan? Standby for another capital raise at mates rates or an extension of the existing loan this year.

I have no issue with borrowing, it's the only option open to us, but I do take issue with what it's spent on.

And on that note, off you pop into that special place with the other cranks on this board.

True to form... Insults.

Why don't you post something of note? Something actually interesting or informative?

Do you honestly think international events weigh heavy on this share?

BEM cannot afford to support Vardar Minerals. It should stand alone... Ask yourself, as a business, is it worth the £2.1m invested so far, and if it were to be sold, would we get a return on that investment? The answr is no. We've mortgages our future to something we simply cannot afford. So sell it.

How much of the cash raised in 2020 and 2022 has been ring fenced for the development of Kallak?

There needs to be greater accountability, particularly with Vardar. That's what I would like to see.

So, in brief, Vardar should be a standalone entity and not reliant upon BEM for cash flow, particularly when there is no accountability.

Diversification would be great if BEM were cash generative, but it's not. Anyone that runs their own business would know this...

EricDraven, for many years, radio silence has been interpreted as 'discusions taking place in the background'... Clearly, this even hasn't been the case, or such discussions have reached a negative conclusion. So yes, improved communication would be a starting point.

Kosovo? We've spanked £2.1m to date, and nothing to show except some promising drill results. I assume that more funds will be required by Vardar... In fact, I guarantee it. And there appears to be some on this board that don't understand the implications or benefits of a Limited Liability accompany. The omens are not good...

In December 2020, KB successfuly raised £5.1m net (£6.6m gross). What has been achieved with that cash? Bearing in mind we had to raise cash via a loan to equity agreement this year, which is due to be repaid in February 2023.

Grafintec was full of promise, but where was the plan B? There does not appear to be one.

I raise brief but valid points.

Arguing when faced with the facts. You are funny...

Sub 4p beckons...

It's a little silly now...

You've mentioned BP, Pension funds and the Footsie 100 as though they have any comparison or bearing on BEM. It's embarrassing quite frankly...

This has been in the doldrums for years, apart from the brief period before and after the issuance of the exploitation permit.

Give it a rest. The SP is dire. You know it, I know it, and so does Kurt Budge.

I assume you've seen the live price... And don't just look at the junk data posted above?

Blind faith... History is littered with it.

Company performance drives the share price.

And performance is driven by... The Board.

I agree about Sami appeal... But it's effect is unknown.

And 'unrealised potential' would be a more apt description.

And I'm curious Suzy2... What will drive the SP in the short to medium term?

There are multiple potential outcomes. I was merely making a point about the SP in response to Dormod.

What is the incentive to develop the SP? I make a fair point...

On on that note ... Baobab Resources?

Think about it logically, and not from the perspective of a private investor that wants/needs an SP that reflects the company's current worth - Not withstanding the fact that the current SP does reflect the current value of the company as viewed through the lense of the market.

So playing devils advocate, we have a board with a very generous renumeration package, with their financial targets set at a particularly low bar in my opinion, which can easily be achieved. Even at this low SP it's within touching distance.

The resources at Kallak are no secret, and it's certain that a miner, any miner would naturally be interested in adding it to their resources when/if it can be commercially mined.

I guarantee that should BEM be sold either in its entirety or piecemeal (JIMAB), KB will get a plum post in the new parent organisation.

And so in short, we have a board with little incentive to improve the SP, and with such a low SP, makes it an attractive takeover proposition when all of the pieces are in place, which is at least 2-years away.

That said, news in the pipeline could potentially re-rate the SP?

It's very easy to take something out of public ownership when the silent majority (PI) have no voice, and the minority, in this case the Board hold all of the aces.

At this juncture, BEM could be purchased cheaply with the consent of the board and it's true value never realised for private investors.