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5 days ago - Telegraph 'Kosovan police load up with weapons on Serbian border as tensions rise'
3 wks ago - The Wall Street Journal ' Putin wants war in the Balkans'
Podcast - 'Leading' with Rory Stewart & Alastair Campbell - Ep 65 - interview with Albin Kurti, PM of Kosovo
Things are getting hotter in this region - not sure that I'd be investing there right now. Fair to say that I'm not sure why BEM went into Kosovo in the first place. How many millions have they poured in to date - over £5mill? Kallak South could have been fully drilled with that cash.
As I understand it, Kosovo hasn't produced anything to date that comes close to fundamentals so I can only think that we need a buyer to at least get £££s back...!
Is anyone worried about the growing tensions in Kosovo? From what I'm reading and hearing in podcasts, this area could easily fall into conflict - I can't quite understand how BEM even got involved so far away from current projects. Kurt took a shine to the people / prospect? I get it that he was bogged down with KN not moving but how can 2 fundraises claim to see KN through to next stages when literally millions then get spanked hundreds of miles away with little movement in terms of jorc facts?
Am I missing something?
I was assuming that the last fundraise would see BEM through to the court's decision, this feels like the lowest point to go out asking for money - BEM appears to have a pretty poor track record in its timing of going to the market. Just picking up on CEO comments:
"Since joining Beowulf in mid-August, it is pleasing to have made significant progress across each of our business areas. The team remains focused on optimising the value of our portfolio by advancing each project through its technical and permitting steps."
- I'm not sure that I've heard about the significant progress described
- more concerned that there's been no optimising of value, in fact a 14% drop in sp since mid august!
"The Company's projects are located in tier-one jurisdictions and in commodities that stand to benefit from the drive to decarbonise the global economy and secure supply chains."
- tier-one jurisdiction, really? A country that takes a decade to give a concession and then engages a 2 year appeal with no completion date.
"The next 12 months will be an exciting time for the Company as we deliver the PFSs and EIAs at both Kallak and GAMP. We will continue to review opportunities to derisk the projects and fast track their development, including through strategic partnerships. Our objective is to demonstrate the underlying value of our assets and deliver shareholder value."
- The last fundraise was supposed to achieve these outcomes!
- diluting shares and seeking partners will reduce value
I was really positive about this company but I'm not sure that the new CEO has done anything that Kurt wasn't already doing - burning cash with little real strategic awareness. A fundraise after the court case is settled would have made sense. Who would part with cash when the decision-makers are unable to close a simple appeal in 24 months with little indication that it won't be another 24 months! Good luck to anyone taking up any offer - the fact that all investors in the last fundraise are sitting on a 50% loss makes it very hard for me to even conider putting more into this - not sure that EB is any different to KB
Lots of really strong signals from key government players, but the past shows that Sweden isn't troubled by timeframes - you'd think that the courts would come out and simply deny the appeal but who knows?
Looking back 2 years to the date of the initial concession, it looks like we could get a very quick re-rate but not sure what that would look like - a steady 5p would be good. Then it's a question of whether the new management get their timeline on track. I have to say that Kurt and Ulla were far too unrealistic with their pie in the sky timeline.
It'll be interesting to see whether Swedish investors start to hold shares - they do seem quick to sell on any news good or bad...
Good luck all, I'd love to see this have a little spike before settling back to 5p on a court decision and then a long and steady climb in to double figures as we head into 2025, 2026...
I've been in here on and off during the spike of the pandemic - I can't quite believe that we're seeing the shareprice drift so far below the pre-pandemic price. Clearly they didn't capitalise on the opportunities for all manner of reasons but I'm struggling to see how they're this far off the pace - any thoughts?
Suz, with property prices as they are, not sure I'll ever own a house with a garden - but if a little mining company in Sweden could help...well that would be just peachy! We all love a story of romance, here's to you and Eric sharing a potting shed!?!
I feel your pain Oak, and I'm guessing your average is high but for anyone joining now, 1.4p could be seen as a steal? I appreciate that bad news could take this to 0.75p as you say but if EB is remotely capable, he really ought to be able to generate some good news and with it just a little momentum. If it hits 2-3p that's fantastic for us newbies. I'm guessing that a lot of long termers will be reluctant to put more money in to lower averages and I genuinely feel for you but I'm pretty happy to take a punt at these prices. Having said all of that, when you look at the chart, it's a pretty dull decline and the 5 yr chart has a very brief moment of interest! Good luck to all, I'm with Oak in that it's pretty cool hearing the chat between Suz and Eric regarding gardens - I might even own a garden one day and I wouldn't mind having a go at planting stuff - keep the tips coming.
Wow - just trawled through some of the recent posts and this board is interesting! I'm in based on this being AIM and whilst it looks liike there are some long termers here who might well have every right to feel sore, I would just say that at 1.5p and more upside possibilities than when it was last at this price (I take the point about dilution), it strikes me as a facinating little punt. The appeal results could see a lovely little spike, assmuing that new leadership can capitalise, this could get fun?
Not looking to create waves, and there are clearly people out there not happy, but I'm riding this puppy, Mmm, that doesn't sound right at all, but you know what I mean! Good luck all, have a top weekend.
Saw this on PrimaryBid, been watching for a while. This feels like it could turn quite quickly under what looks like totally new leadership. Last time it was at these prices was 2015 and from I've read, that was before the permit? Count me in, as this feels like the bottom with some pretty positive upsides.