Saw the late news yesterday evening if it was heavy buying in Sweden last few days that pushed it 12p how wrong were they.
I put a slice limit in but nowhere near the drop to 3.78p .
If id been around would of topped at that price.
Isn't it just same O
Yes, and we have met (or bettered) all the mining/land usage requirements and yet there is still a deathly silence on the licence award. At what point does the Co. consider just waiting for the licence before the undertake additional activities (costs)?
Insofar as we are still waiting on project clearance, and possibly to a slightly more worrying degree we have jumped through all the hoops placed in front of us (some of them backwards) and we still do not have authorisation.
So, is it wise of a company, that has seen the legal environment they are working to be somewhat dysfunctional, to commit to additional costs when there isn't the sign off in sight.
Two bits of news today .
One an RNS but both appear to be about a BRR media interview by Kurt Budgen ( his he a new kid on the block face not familiar ?? )..... and my internet not great hence difficult to watch it.
MM must of raised price showing 6.5 to 7.0
Not sure what to make off it .
"The Company is in communication with the Government of Sweden, but with the Swedish summer holidays upon us, we do not expect much progress on our application until the start of the new parliamentary session in mid-September."
There has been many more RNS of late .. Market and posters on LSE did not like today's RNS @ 7am. Duly marked down 20% at open.
Of course broker who ramped it to me years ago can not be got, although to be fair this was the best he ever gave me. Guess hes busy trading it, and will not contact clients until hes firmed up his own position.
I am totally bored with this share - I am 85% down and the sight of it on my portfolio pains me daily! It drags on and on and on - shall I sell and just get rid of the whole thing, or is there some hope on the horizon? - I reach my three score years and ten this year so the future is finite!
Emerald you may be right but I read the last bit as saying the Government has given the Mining Directorate the final say in this approval?
I've been following this for years. It is frankly shocking what has happened, or should we say what has not happened. The so called process reads like madness. The Mining Inspectorate needs to put it's foot down, or this will go on for another year or more. Beowulf must be thinking of going legal IMHO. OK it will drag on for a very long time, but they may have to start the legal process anyway in 3 months time!
What a complete joke.
for possible trading, the placing @ 6.5p ones I mean. Normally one would expect the sp to go down to around the placing level. However, at least today so far it has not. The next few days I think the sp will be around the 7p level, but we will see.
I agree. There is reason behind having a planning application and it's to make sure that rules are followed. There are plenty of unscrupulous miners in other parts of the world and BEM has proved itself as not one of them. I've actually bought some more at this stage and won't sell now as we're too close to decision time. Im looking at the FB group and can see some may have been spooked by old news or news I think is inconsequential. BEM has done every thing necessary to secure a licence. CAB is struggling now and even if it refuses, I'm sure the Swedish govt will say yes.
I see it like the UK planning consent (which most don't like to be fair). You design the building, the design gets rejected and reasons are given. So you change the design so those reasons cannot be used. Then you re-apply for planning. Possibly it is again rejected due to more reasons. So you change the design again etc..... Eventually no reason can be given not to approve the design, so permission is given. This is where I believe Beowulf are with their application. The CAB gave no reason last time and now the mining expectorate have written to them to ask why.............. Interesting times.
Frankly, although asking a lot, I was expecting the sp to advance a tad more today, instead it has fallen 7%. Maybe a small gain tomorrow?? The CAB need to reply by 1st June remember.
Obviously the so called "County Administrative Board for the County of Norrbotten" (CAB) is at adds with the Mining Inspectorate of Sweden. The Inspectorate think the exploitation concession should be given, but the CAB have been doing all they can to prevent having to do this. Seems to me the CAB have run out of reasons to prevent the concession being awarded and that is why they gave no reason last time! How daft. We can't think of any reasons to contest the award, so we simply won't give any! This mine would be "in the middle of nowhere" as the saying goes. The Sammi have been making mount Everest out of a hill made of 5 grains of sand. Their arguments are completely unreasonable, and they know it. The mining inspectorate know it as well. I wish I knew who has the more clout here, the inspectorate, or the CAB. The fair and reasonable decision would be without doubt to award the exploitation concession. That is completely obvious to any normal reasonable person.
The various authorities all seem s--t scared of overarching EU regs about the environment and of course the human rights elements of the reindeer herders to continue to use their 4 by 4s and even personal helicopters to manage and round up their animals-so much for traditional methods!!
If you read the RNS Beowulf's case seem extremely strong to say the least to get awarded the exploitation concession. Apart from anything else Beowulf have spent millions confirming what is there and it's extent. Something like 400 million tons of iron ore if I remember rightly. How can Sweden offer up license areas, award them for ther likes of Beowulf to spend millions seeing if there is a commercial find, only to find that even after satifying it seems all the issues that surround it they won't get the concession anyway! What a complete and utter joke. How in the World will Sweded EVER attract any mining Companies if they carry on like this (so far). Let's be clear this part of Sweden is extremely sparsely populated. The largest towm to where the mine is supposed to go has a total population of only 3,000, yes three thousand people. This is more like an English village population frankly, and a small one at that. I understand this is one of those places on earth where you could drive for an hour or more and not even see one person to say hello to. Anyway, the RNS explains Beowulfs position very well indeed:-
14p here we come, very short term IMHO (this week, possibly early next week). If Beowulf get the concession the sp should easily go North of 20p, really that is not crazy. The sp has been totally and utterly trashed by the Swedish concession application paperwork submission circus which would be extremely funny if it were not so serious for those invested.
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