Member Info for Takayama

A fund raise was inevitable. Not sure why anyone would be surprised. I don't think anyone is being hoodwinked or whatever here. It looks pretty straightforward to me. The company needs money to operate and there'll be yet another fund raise in time. Ed is probably hedging his bets on timing Oaktree. I remember reading a note around 10 years ago, saying something along the lines of 'its been going on this long, why wouldn't it go on for longer, don't invest'. The Sami know this and they know the constant appeal proccess is their best chance to drive BEM to the ground (as do you all). I'd respectfully suggest therefore that Ed is taking a careful path by diversifying more heavily elsewhere. Kallak was always political but not in the way that is discussed for the most part here. It's about historic land rights and how mining has been historically perceived. That doesn't really get resolved instantly via an election or by some government agency staffed by civil servants making a decision. They may help but it's a far deeper rooted issue. It looks like a good time to wait a bit for the SP to drop further and then to buy if you are betting that the Kallak court decision will go BEM's way (what other avenues do the Sami have after that if they fail?). There's money to be made here. But not by holding. Even if some assets look pretty good on paper.

Dags, all good points. Fwiw, if I had some spare cash, I’d be looking at Mex. Luke Johnson has just moved in it seems. GLA.

The TMS' broadcast is a useful one. I'm glad that Ed is now reining in his 'telegraphing' tendencies. Spells well for the future. Not much new, but so what? That's fine if there isn't anything particular new. I welcome an update that the boat is steady as she goes. An update that foolish self valuations are being turned away. An update that there are options for the future. Yes, we could have invested in crypto, but the guy collecting the rubbish when I had my new kitchen installed invested in crypto and whilst I'm sure that bloke made a bit of cash, but that's pure speculation on his part rather than information based decision making. If I'm sitting back and waiting for a return, I'd rather do so I'm more relaxed if the return is based on a more informed decision making process than a bloke who gets lucky on what is essentially a ponzi scheme. No offence intended to those invested in crypto.

It's unlikely Portage will die. They seem to have a decent amount of friends. Whilst cash looks to be running out they still have access to around $80million on demand, which should generate another load of positive clinical trial data to provide motivation for additional funding. But yes, only a small holding left so doesn't matter that much at the moment. Though of course, if Ed was to buy some more....... . :-0

I can’t see a floor here. Anyone else thinking this is ripe for a big short?

13 million or so left to buy back. Even with 200k a day, we’d be pushing it. The pace of the buyback needs to up a bit. Not sure if average volume allows much of a pick up. We’ve only around 10 weeks left. And this low price is amazing. My guess is that the buyback will increase pace pushing the SP up. 😭Gla.

Hey Dags. I think you've misunderstood my post (as Samval has pointed out). The intention isn't of course for Ed to keep the SP down. It's to TAKE ADVANTAGE of the people who are selling at this price and pushing the price down. From where I'm sitting, the CFG investment is a good one. I've spoken to scientist friends of mine about the science behind alternatives to palm oil (there're a few 'competitors' out there) and CFG's technology is indeed at the best, most realistic edge of commercialisation. Commercialisation is the key. And as far as cannabis is concerned, we all know that it isn't there yet. But there is a direction of travel. The direction is positive. That bit is obvious. And everyone is excited about France. It's going to be frustrating, but there you go. That's the nature of the investment. LGP and CFG are fundamentally well run companies. At least if they were poorly run, then fine, we could moan. But they're not. This is what the first rung of the ladder looks like guys!! Taking advantage of what I think are fools at this stage is the perfect strategy. Buying 6p worth of asset at 2p? I mean, come on! Let the fools sell! I had never, in my wildest dreams thought that this is what the buyback would look like. I really don't care if I'm the last one left here when everyone else sells out and everyone's money has been used to buy all these shares at this ridiculous price. How on earth do you think Abramovich got rich? And the other Russian oligarchs? They ran around from door to door buying up all those poor Russians' shares for mere kopecks to the ruble. This is where we are now! It's almost as if we're in the middle of the Russian hinterland, knocking on those doors late at night getting those poor suckers to sell a prize asset for pennies so they've got a bit of extra money for something they understand - vodka! It's tough if you have been holding long term and seen some difficult decisions (the Ukraine war really, really didn't help the sale of LEAP - you guys MUST realise that at the very least!), some poor behaviour (a board should never, EVER, raise expectations), but ultimately, we've got some really good assets here. I don't doubt that Ed and the team ARE working on triaging those possible investments. I've no doubt that we're going in the right direction. Respect to everyone here from me too. It's okay if you disagree with me. I'm cool with that. And I really appreciate your posts too.

It looks like the buyback is heading towards being a fantastic success. If we can load up the remaining amount of shares at below 2.5p then I’m certain another buyback will be announced. This is way beyond my expectations at how well this is going. I’m extremely happy that the rug has been pulled from under the feet of short term profiteers (sorry guys!) and genuine value is being created here. Roll on next buyback. Let’s aim for at least 33% of the company to be bought back at an average cost of less than 3p a share by end of 2024! It can be done and Ed, i know you’re reading this board - long term holders aren’t bothered about the short term price. Invest in your long term holders!

I'm always interested in the practical applications of the technology in which I'm invested. This was an interesting article, even though the bike geometry seemed a bit odd.

https://thefeed.com/insider/cognitive-switch-ketones-impact-on-performance-and-cognitive-health

To be honest Samval, I don't think it's worth the effort to go if you're already on this board. It's around the corner for me but I have a hot date, and frankly, that really tops this event! My understanding is that there won't be anything new at all. It really is to drum up new interest in the company and get people to invest. It'd be interesting to see who they've invited and then if those invitees even bother to go. Ultimately, the question on everyone's mind will be whether they want to invest in Ed and the board (rather than the company itself, which we all know is worth much more than the SP). It'd be useful if Mellon goes of course, and that may help sway one or two with promise of 'being in with Mellon'. And perhaps there may be other bigwigs. If it's anything different to that, well, that'd provide an interesting insight into Ed's thinking too. I doubt we can expect anything more, not because it's Ed and SEED, but because that's the nature of these PR efforts. I don't think it's bigger than a PR effort, and those aren't known for being an easy way to sway opinion. Easier at this stage to make Ed and the board more 'investible' would be a successful buyback (buying back the whole 21,5 million shares at less than £500k would be great), or some other notable success. But I guess that isn't on the immediate horizon. I know Ed will be saying 'At least I'm trying' at this stage. But like with a lot of AIM CEOs (and a lot of the adult population to be fair), it is very much about being able to monitor his own behaviour and recognising the impact it will have on the SP. Difficult to undo regardless of how 'insignificant' one may view it to be. Daniel Goleman wrote some helpful stuff.

It’s hard to argue the assets aren’t worth much, because they’re clearly worth more than the SP suggests. The difficulty (as is many a time) is the perception of the board and the CEO. If Ed had only refrained from talking up prospective deals and prospective profits and just focussed on running the company. Raising expectations only for them not to be realised breeds distrust as we can see from comments here. Replacing Ed with someone with a better reputation is likely to help a readjustment of SP.

Ha ha ha! Yes, I’m a way you’re right Mat. But ultimately it’s about VALUE and FUNDAMENTALS! Bottom drawer stuff? Perhaps. I always liked your posts. But yes, sometimes tough times hit us hard. Sorry about EML. I’m sure that’ll come good in some form too. Water is THE big issue in Morocco. The board is perhaps glossing it over a little, but who knows how the dice will land there? ;-). For SEED, I think the buy back is going ok. Hopefully we can get many more at these low prices and then another buy back from February please!

Https://www.bailiwickexpress.com/jsy/news/all-systems-green-jersey-firms-uk-medicinal-cannabis-shipment/

The perils of putting your company on the market is that SP doesn’t necessarily reflect value. It’s a shame that LGP SP isn’t high but that time will come.

Does anyone know for sure if the shares held in Treasury are all the result of the buyback? I hadn't looked at that stat before the buyback started, but can only assume that they are a result of the buyback. In which case, it seems to be going pretty well. Nearly 8m bought and around 13,5 million left to buy before February. At these bargain prices? Roll on next buyback! If we buy 10% of the company every six months or so, I could be the sole shareholder left after four/five more years! That'll be a pretty good return for me!

My guess is a transfer of title for whatever reason. Zero effect on SP so not a buy nor a sell. An indifferent trade.

Just wondering if anyone has any idea when the next fundraising is (pres via calculating how much cash in the bank and how long that'll tide BEM over to?).

Geopolitics is sooo important in mining (I get the ST/LT investor thing, but ST investors are only in for a quick buck which is pointless target for a company to chase, so redundant as far as I'm concerned). I don't have any spare cash but if I had, I'd probably be placing a bet here for the graphite. (Kallak still looks ok to me but now looks like a bonus rather than the main play, and I'm wondering if the board are seeking political advice for a plan B?). The deposit in Finland is fantastic for the free world. I can't see any political resolution with China in the near-mid future which basically puts BEM into a seller's market with that deposit. I'm not aware of any such high quality, well placed and large deposits that could compete. Has anyone else? If the board play this well, you guys (not me as I don't have cash to invest) will see a fantastic return on current SP. It really is a very important deposit from what I can see, and will help balance risk towards the positive in any mining company's portfolio as far as I can see. Not often I provide a positive view. I know a lot of long termers here have had a stressful time, but really, it's great for you that BEM have got that graphite deposit! Astounding in fact!

Well, I’d say that was good of him to take the trouble and reassuring for the rest of us given past commentary, not about Leckerman. Onwards and upwards.

As a long term investor looking for the cheapest possible buy back, it is with regret that I see the tick up today. Yesterday was surprisingly large volume - some significant trades and it looks like at least SEED was scrubbed from at least one PI investment portfolio for good. I can't see this bottom lasting long (by that I mean a dip followed by rise followed by dip to sub 3p) at all, even after the next traders' sell off, there seems to be limited appetite for selling, meaning only that people will be happier holding on for a higher price. I can only imagine that those feeling rather negative are slowly being flushed out, being replaced with a new breed of investor. So much the better for the rest of us. It's a very short road to 4p suggesting 5p-6p is more likely to be on the cards this time round. Let's see!

Decent volume today. It’ll be interesting to see how many of todays trades were buyback shares…. . My guess is 600k on the nose. Any other bets out there?