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BMR Group PLC Share Chat (BMR)



Share Price: 3.25Bid: 3.00Ask: 3.50Change: 0.00 (0.00%)No Movement on Bmr Group
Spread: 0.50Spread as %: 16.67%Open: 3.25High: 3.25Low: 3.25Yesterday’s Close: 3.25


Share Discussion for BMR Group PLC


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EricDraven
Posts: 23,414
Off Topic
Opinion:No Opinion
Price:3.25
brynjon/KlueLoss
Today 01:14
Bryn, there you go, Klue has posted the answer to your copper question. A case of evaporating money and no real assets of any significance.

Additionally, 2014 was supposedly the "year of beneficiation" for us, when the company would begin processing.

Alex has taken three years nearly to bring us that little bit closer. But closer we are, yet the market value is a shocker. Bizarre, yet we know the reasons.

Good luck gents.
 
KlueLoss
Posts: 1,994
Off Topic
Opinion:No Opinion
Price:3.25
brynjon - Copper
Today 00:49
Report and Accounts June 2014 released 14.04.15 Page 6

(i) Prepayment for non-current assets £4,066,277

At 30 June 2013, the audited net assets included an amount of £4.23 million described as
prepayment for non-current assets which increased to £4.26 million at 30 June 2014. This balance
has been reduced by £197,160 to £4.066 million in respect of accounting for payments to be made
to the joint venture companies as noted below.

It is very disappointing to note the Directors have now concluded that there were no significant
copper interests ever acquired by the Company. Only limited copper interests were held which were
within the five joint venture companies but these are now being written-off. As a result, the balance
of £4.066 million has been written-off in full of which £3.665 million was not properly attributable
to the acquisition of, or prepayments in respect of, copper interests; and £598,437 less £197,160 was
in respect of the joint venture companies established for holding the copper interests.

The Directors have now established that the joint venture companies were not effectively
consummated, as mining licences were either not transferred, had expired or become invalid and,
furthermore, the limited copper resource in the joint venture companies was of a low grade and not
economic to process. While your Directors have concluded no value can be attributed to the copper
assets at the present time, every attempt will be made to make future recoveries if possible. The
sum of £197,160 represented payments to be made to the joint venture companies, capitalised as an
asset and held in creditors to be paid when the transfer of the licences was completed. As this
transfer was not completed, the Directors have decided not to make any such payments and,
accordingly, creditors have also been reduced by £197,160.
brynjon
Posts: 2,399
Off Topic
Opinion:No Opinion
Price:3.25
RE: lutonnews
Today 00:07
Eric - indeed 10p would be a really hurtful offer - bearing in mind the super deluxe estimate of dumps value, bandied about by management in the not too distant past.

Just over 4 years have gone past since we got this:-
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMR&ArticleCode=z2oyd0f6&ArticleHeadline=Kabwe_Update_Production_2013

Not long later we got the great news:-
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMR&ArticleCode=tixow38f&ArticleHeadline=Kabwe_Copper_Plant_Completed

Bit we know the latter was a great big fat lie - But what did happen to all of our copper assets? Were they given away or merely fictitious?
EricDraven
Posts: 23,414
Off Topic
Opinion:No Opinion
Price:3.25
lutonnews
Sun 23:55
Hi Luton. Good luck with this matey. Agree re any offer, to an extent. Asset value on the climb though, which is excellent if we can get round to shifting the metals. If we can't, the offer will have to be higher, the more the metals prices rocket.

However, it feels like Alex is in a cocoon at the moment. Lol.

Enjoy your time away.
EricDraven
Posts: 23,414
Off Topic
Opinion:No Opinion
Price:3.25
BringMyReward
Sun 23:48
I see. Well, entertaining a 10p offer would be rubbish. That would be less than half of what the sp was back when MA was clearing his locker out and checking into the wobbly head doctor. Lol. So I believe 10p is on the extremely low side.

More importantly, if there's no news from big Al this week, I'm confirming his cabinet space with the curator of the Kabwe Mining Museum.

On we go!
BringMyReward
Posts: 1,240
Off Topic
Opinion:No Opinion
Price:3.25
lutonnews
Sat 19:14
It would be nice to get some good news next week then. I'll pick some up myself if I have some spare :)
lutonnews
Posts: 3,159
Off Topic
Opinion:No Opinion
Price:3.25
RE: Eric
Sat 18:43
Hi guys
Still invested and have plenty of powder to add before I am away on the 26th should the right sort of positive news spring out of the blue.
Re a takeover . As a rule of thumb imo the initial offer would likely be two and a bit times SP .
So I would hope that we would be a fair bit higher than we are currently before any potential predator comes knocking at the door.
BringMyReward
Posts: 1,240
Off Topic
Opinion:No Opinion
Price:3.25
Eric
Sat 18:25
I'm not saying that our processing method won't work. Yes it has been tested small scale and I'm sure it will work on a large scale too, but nobody knows for sure. My main argument was that we are only likely to get a fair price whilst we are producing, and not before. Could you imagine if we got an offer of say 35p, that would be over a 1000% of the current SP (10 fold). How many takeovers have you seen with that kind of a premium on top? Hence 10p is realistic but not necessarily fair value for us, and it's much less than what I had in mind as my target price. ;-)
EricDraven
Posts: 23,414
Off Topic
Opinion:No Opinion
Price:3.25
BringMyReward/3cardbrag
Sat 17:42
I'm sure we had to prove the process was environmentally viable before ZEMA approved our EISA for the lead and zinc. If we could prove it on paper, it had to also then be proved in testing. Otherwise ZEMA would just be a worthless entity and approve any application which was addressed to it. In which case, our EISA may as well just have been a single page submission with a brief explanation and a photo of a horse's c.0.ck.

You see what I mean. Our process had to be proven to work. The methodology, backed up by the testing, which ZEMA could then monitor. On site!

Hence, for any offer for BMR, from our side of things, we would include proof of the processing pudding. It doesn't matter that we aren't currently producing. We've tested and tweaked until we are blue in the face, with ZEMA satisfied.

Lead and zinc Kings of Kabwe. Lol.

Only my view, of course.
EricDraven
Posts: 23,414
Off Topic
Opinion:No Opinion
Price:3.25
BringMyReward
Sat 17:19
I think you are way out with that 10p. That's only a penny, old money. It's the asset value, not the market value which would be considered. The potential.

In my view. You said 10p because you are fed up. Lol.




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