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Swedish shareholders have reacted positively but how is it all going to be paid for? I doubt if the consultants will just take shares.
Government has abandoned the proposed decision to not impose the NNS requirements on housebuilders. Hopefully this will benefit ETP who provide this service to housebuilders.
The only possible positive of today, assuming the company has a future, is the opportunity to average down. Nothing in the RNS suggested liquidation or fund raise but things may change in due course. For what it's worth my av now 67p after buying today.
There is not going to be a sale in the near future. The company (a wholly owned sub of HZM) that owns the licence and the assets has the debts. It is inevitable that the debts will be secured against the assets of the company. The company can not therefore sell the assets without the approval of the lenders and assuming the company can be sold the new buyer is stuck with the debt liabilities. It is almost certain the lenders will have a no-sale covenant in place anyway. Like i or not the future of this mine and its shareholders is now in the hands of the bond holders.
You can't fault a limerick. Maybe this one will avoid the censors?
There was a young! Lady called Suzy
Who after a drink became woozy
But if she had more
Her face hit the floor
Which is the risk of being too boozy
In the near/medium term we only seem to have one viable asset-that in Finland. The situation in Kosovo is getting worse by the day with Serbia and Russia stirring up trouble. If we could get out of Kosovo with some money, I would do so. We should never have gone there in the first place. As for Kallak, potentially a great asset but I can't see how BEM have the skills or financial depth to unlock it alone. If we don't find a white knight it could be our bete noire.
A painful read. A list of bad decisions with very little encouraging news, including the cost of removing Kurt (and no doubt Ella). Hopefully, like the song-things can only get better! At least they are p**sing off more Swedes than Brits.
Pocko. we do read your posts and as far as I know not filtered. I can only see the micro accounts submitted to CH-very little info to be gleaned except a surprising large increase in asset value. No accounts posted on the Vardar website. It would appear that nearly all our exploration licences are due this year (mostly in August!) based on the 3 yearly requirement unless I'm miss-reading their Project Presentation. BEM is the majority shareholder so our BoD needs to sort Vardar out tout suite.
Yep, great win for the Lionesses, the Swedes tripped up against the Spanish. I was never sure about Ulla, I think it was hoped here public sector background would be useful. The question again is did she fall or was she pushed. Here is a quote from her Linkedin page, perhaps she should have stuck to completing her task! "Imagine how easy it is to just work on and check off the list that the administrative and operational tasks are done. It's human to think it's nice to check off and finish. But when those tasks completely encroach on my creativity, it creates frustration in me. The value of thinking bigger comes in the longer term by developing the business and delivering real value to the company".
The price of an investment, bond etc, is the inverse of the return required. Ie if a 10% return is required the investment price is 10 times the yield (income), 10/100. If a 5% return is required then the investment price is 20 times the yield. 5/100. As the yield expectation increases due to base rate changes or investment risk the required yield goes up and the price of the bond goes down accordingly. Hope this helps.
I take 2 positives from today. 1, the value of this BB, without it I don't think individually we would have garnered the info we now have on Vardar et alia. 2, no matter how poor the management of this company appears to be its a beacon of excellence compared to this current government. Bibby Stockholm evacuated due to the presence of legionnaires disease. A basic test for any closed water system. TTFN
Fair question Pocko, can only guess at the answer. Wooldridge and Bryan's modus operandi is probably to find opportunities and then drag funders/partners in. BEM had already invested a fair bit so needed to keep going to protect what we had already put in. To date Vardar has been funded with cash-little to no debt.
Looks like it Suzy. In my business we keep well away from competitors but did have close relationships with old pals and personal connections. BBQ weekend by the looks of it. And I'll be raising a glass to our Harry Kane, who looks to be off to Germany. Apparently Alan Shearer is driving him to the airport.
Correction. Kodal are not registered at Weavers but Weavers are a director, as are R Wooldridge and Bryan.
Pocko, I've checked the company's confirmation statement. There are 9 recorded shareholders, BEM own 60% and A Wooldridge and Bryan hold circa 14% each. The rest is shared out between some individuals, a Davies Trust and a couple of companies, Creos and Pelamis. Assets increase by about £1m in a year (not sure how). Alan Wooldridge was a director of Kodal Minerals and still owns a largish chunk of shares (176m). Kodal has a Mcap of £80m. BEM control Vardar and now Kurt has gone any cosy relationship between him and Wooldridge/Bryan should be irrelevant. Most directors give Weaver Financial as their address, where incidentally Kodal is registered. There do seem to be various opaque interconnections but hopefully now Rostin and Ed are in control of Vardar we might see some value extracted from it's 'valuable (sic)' licences in Kosovo. Maybe the 6 month review of the company's strategy is necessary following Kurts exit!
Agreed, HH. Don't forget this is just a cash shell with very little cash. Business has already been sold. Future uncertain.
Freetrade doesn't deal in all stocks, including this one , it seems.
Quote 'MIT engineers create battery alternative using cement and carbon black'. Relevant to supercapacitors an article appeared today regarding MIT and cheap supercapacitors using 'carbon black'. Carbon black isn't as pure as graphene but cheaper at present. Graphene would be a more efficient ingredient. Link if anyone is interested herewith: https://www.msn.com/en-gb/money/technology/mit-engineers-create-battery-alternative-using-cement-and-carbon-black/ar-AA1eM9OV?ocid=msedgntp&cvid=38062bb6b1454c81a3a56126a20416f3&ei=34
Another article discusses the benefits of graphene over carbon black. Link; https://graphmatech.com/graphene-versus-carbon-black-for-polymers/
Eric, whilst it is not unusual for board members to have other directorships it all seems a bit opaque with BEM. Rostin is recorded as the only exec board member, until Ed joins. His profile lists him as a board member of a large property company in Sweden, Wihlborgs Fastigheter AB, with a Mcap of circa £2b, (and Velove Bikes AB), but these are not mentioned on the Beowulf website. He resigned suddenly as CEO from ForSea in 2020. Ulla is only a board member of Jokkmokk Mines. BEM have a couple of non-execs and one manager. None of this points to an active company so lets hope Ed stirs things up. All Rostin seems to have done is sack KB.
Afternoon all. Been away from my laptop to find this BB more animated than it has been for some while. It's odd we didn't get a RNS mentioning Ulla's appointment at Primrock, especially as there could be some connection between Primrock's business and graphene. One of the potential uses for graphene is in 'supercapacitors'. Hopefully it just the Swedes' way! I did visit Ulla's profile page in Linked-in (or is it now just in) and read a couple of her articles. She gets a A* for waffle, claims to be a big thinker. I concur with the general feeling of disquiet and hope it's not well founded.