Petro Matad funded for its drilling programme which should see production start next year. Watch the full video here.
Suzy2 - You've missed the point and so has aug59. Look, sometimes when you want something and someone is in your way, you need to figure a way to get them out of your way. Of course you can be a completely docile investor, and of course Kurt Budge is happy as he doesn't have investors asking him awkward questions, stating that 'we are following a process (that the government is making up as they go along to avoid the process)' - or you can say, right, I'm going to try and get them out of my way? Don't you see? So much is at stake, especially for you pensioners here who have invested so much! I get that it's easier to do nothing. But so much is at stake! If this were my mine, I'd be doing everything I could to make this work! It's massive! You know it's massive and you have the opportunity to do something, but you choose to do nothing, and leave your pension pot in the hands of someone you don't even question! You know Suzy2, I wonder sometimes what on earth is going on in your head if you interpret my post as that of 'the Sami spokesperson'? I really hope I haven't overestimated you.
Slightly off topic and I should know, but I don't. Can anyone enlighten? When I look at share trades, I see purchases of very small numbers of stock - sometimes one, 14, 27, or some other ridiculous number. This is I suspect some sort of manipulation, related to pushing numbers on L2 to push bid or ask numbers - though I don't really know, or why. Does any one here know? TIA.
Good post treetop: "Kurt has to gain widespread support before gutless politicians will upset fanatics" (though I may temper the language a little!!!). The whole point about this is the LACK OF LEADERSHIP!! Both on the BEM side so far and the Sami side. I don't disagree with 3cardbrag that granting the mine won't be bad for the Sami. But from their current perspective, it will! That's why they oppose it (and they are wrong to do so, I agree)! Thus, given I am on the BEM side, I'd urge our CEO to take the reins of leadership, step up to the plate, and offer the Sami a genuine alternative. Look, fellow investors, the Sami won't last another two/three generations at this rate. Look it up. Their culture is dying out. It's a golden opportunity for KB to step up, and say, look, we're going to work with you to make reindeer herding MORE of a success than ever! It isn't rocket science - but it is about being plugged into the modern world, knowing people who can process venison, have access to consumers, have access to all the other markets where venison products can be used so that the young Sami can believe that there is a future in being a Sami. It simply isn't happening at the moment, and KB's 'open letter' is, frankly, weak. The Sami need money, expertise and a long term backer. That is BEM. Get the Sami on board, and we've got our mine regardless of Baylan and the imported protesters. Or we wait a hundred years, the Sami will be all but a cultural curiosity and finally the mine opens.
Personally, I have a lot of respect for Baylan as an opponent. I get it that he has a difficult political decision to make. He knows he needs to make a decision, and either way he goes it will be unpopular. So when I say 'pull the rug from under', it is from the perspective of the person who ends up losing out. Either us or the Sami. A decision is inevitable at some point, and one side or the other will feel the 'rug has been pulled from under them'. I disagree about Kurt having done as much as he can. The point about being repudiated is you just need to find another way. The stakes are too high here. From where I'm sitting, it looks like the Sami way of life is dying. That's a shame. And Kurt could capitalise on that. I don't know exactly what he's done. From what I recall, he 'wrote an open letter'. That simply isn't enough. If he's done more, he could publish and let us know, but from what I saw in the last results was that there wasn't anything else he has done 'via backchannels etc'. He needs to identify Sami weak points from the Sami perspective and offer ways to strengthen those weak points, using a slice of future profit from the mine. The Sami don't trust him because in their eyes, he's just another bloke out to exploit them and their land. It isn't about simply co-existing. It's about win/win. I know it isn't conventional, but sometimes you need to go for the unconventional especially when you reach an impasse as we are in. The world is changing. Capitalism is moving towards stakeholder capitalism more and more. It simply isn't the 1970s anymore and especially not in Sweden. BEM could be part of that, demonstrating leadership where Sami leadership has obviously failed. I like Budge. I know it doesn't matter if I like him or not, but he could demonstrate more leadership in this issue rather than be an 'applicant' in a process. It's simply a bit weak.
Wotitsworth - I imagine the legal challenge is on Budge's horizon. It will take time, the challenge will be funded by the company and there will be a resolution in our favour along the lines you suggest. For the moment though there are two options as far as I can see - the first is to run with what the government are saying. UNESCO really are a last ditch attempt by Baylan to either pull the rug from under the Samis et al, or to pull the rug out from under our application. Whoever heard of a national government going to an international body seeking their views to resolve an issue of domestic governance? It really is a last ditch attempt as far as I can see. Baylan may continue to sit on his hands if UNESCO come back with the expected "It isn't anything to do with us". The second option is for Budge to find a resolution by working WITH the Sami to preserve Reindeer herding heritage, by devising a way that being a reindeer herder is a sustainable way of life for the next one hundred years. At the moment, the Sami way of life is dying. It isn't sustainable. The Sami don't have a big backer. BEM could be that backer (if it were allowed to grow). Budge could present a variety of solutions to the Sami, with the sponsorship of BEM and then together, they could present a done deal to Baylan et al. Budge has unfortunately said he isn't going to try any harder, and he feels his efforts have been sufficient in this area. If none of these provide a solution, then yes, the legal route is, as far as I can see, the only option.
As for IBJJ's posts, I like them. It's always good to step outside our own bubble and challenge our own views. Echo chambers are extremely dull and frankly a bit pompous. Crack on IBJJ!
I went over to Trustpilot, and this morning made back the small loss I made here selling at 192. That was lucky! Too much risk here until things settle back down. I may consider jumping back in if the SP goes back down to the 150s - or when sentiment improves.
deepbluediver - No probs. There'll be dips as profit takers move in, but the trend is up here and unaffected by Covid. This really is the bottom rung. I find that often IPOs are followed up by a good RNS in a few days which provides some support at the higher level - but look at Facebook and where they are now compared to IPO day!
I'm afraid I see further falls here too. It may come across as shameless cross-ramping, but the Trustpilot IPO is today, and that's far more likely to see a rise in the short term than IAG, regardless of how well we may interpret any IAG-related news.
One reason to sell now is because you believe it won't perform for some time. There's an opportunity cost in holding something that isn't performing. And risk as it may even drop. If you sold and invested in something like Trustpilot, which is on it's first day of trading today (new IPO), you can catch the wave of something far more likely to increase your money. Then sell out your Trustpilot shares in a few days/months and come back here to buy even more shares with the increased cash.
I think the point is a subtle one (about the £5k fine) - that there isn't a relaxation, but a tightening. We're all looking for clues of a relaxation, but it simply isn't happening. Yoikes.
Boris Johnson has warned the effects of a third wave of coronavirus will "wash up on our shores" from Europe.
The PM said the UK should be "under no illusion" we will "feel effects" of growing cases on the continent.
Big Blue - The thing is that there are thousands of chartists, most of which hold a lot more money than most PIs, so regardless of whether it is mumbo jumbo or not, charting provides a trend which people follow. It may not be the only trend, but it is an established source of trend. Ignore chartists at your peril. Other chartists won't be doing so, and then there are non-chartists who follow chartists too. But there are very few people that follow what me and you say.
deepbluediver - you're welcome, but I'd caveat that I may be wrong of course. I've lost money in the past, but these are general principles that I've learnt over time. My skin has grown noticeably thicker over the years when it's come to personal attachment to particular companies. I'm already kicking myself at selling out this morning at a small loss (having not banked a small profit last week) , but I can foresee another opportunity on the horizon, so there we go! Fingers crossed for the next one!
deepbluediver - I guess the key words in your post are that this will rise" with openings and good news" - This time last week, I have to admit I was very definitely on one side of the fence about the prospects of that, and now I am definitely on the other. Given Geng's analysis, I'd say the chances of a marry up of chart and events are higher now than in the recent past, and likely are on the up. I've been around for perhaps as long as Geng, bow to Geng's charting expertise, but I definitely echo Geng's views about sentiment above fundamentals in the short - medium term. Hence I've jumped ship and will buy back in when sentiment returns. But for the moment, I can see no reason to hold these. We're unlikely to get good news on April 12th now with the resurgence of the 3rd wave in Europe. The opening of Transatlantic routes is perhaps more likely (and more significant) but I'm not counting on any news on that front for some time either. So you're right - it'll be up to £3 and maybe more as the leaner more efficient IAG when everything opens up, but that date has been pushed back at least three months in my estimate. And that's three month's of opportunity cost in holding non performing shares.