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Thanks for update BMR. Did he give any hint he might do shareholders the courtesy of providing a scintilla of an update occasionally by Twitter?
BMR Watch recently caught up with Colin Bird for an update on the situation. As you might be aware, the Pursuit deal was announced 3 months ago and we’ve heard nothing since. Pursuit shareholders approved the deal at their AGM on 15th March 2021. We paid a $50k (Australian dollars) option fee which expired 31st March. We have now had to pay a further $60k for a 6 month extension. The 31st March deadline was obviously very optimistic as we are nowhere close to seeking BMR shareholder approval at present.
CB provided an update as to what has been happening and what needs to happen next. A prospective and reverse takeover document needs to be drafted. The circa 140 page prospective will take around 2 months to complete. We have paid the extension fee ($60k) done some ground mags over the extended area at the Finnish Vanadium project, took samples for lab analysis, sorted something on the licences in Sweden – things are being progressed. We had to appoint an international competent person for CPR which cost a bit more. Everything is progressing well but the listing is unlikely to happen until July now.
A GM will be called for BMR shareholders to approve the deal – it’s possible by that time we might will be able to attend in person, although we asked if this can also be done via video link for those unable to attend. We asked about the capital raise and CB thinks we might be able to include an Open Offer within the prospective, so that existing shareholders can apply for additional shares in the IPO if they wish.
We spoke about plans to demerge the Royalty. CB is still of the opinion that JLP will not be touching the Zinc anytime soon and any money from this won’t be seen for another 4-5 years. They seem to be brushing the Royalty under the carpet now which is very disappointing.
Thanks Eric.
Does anyone know an investigative journalist with time on their hands?
Cardo, good points. We seem to have been delisted from AIM for a million years and we have nothing of note happening. That was arguably likely the plan. Take over the operation of our assets, delist us and give us nothing. Superb! Lol.
Meanwhile, those responsible for, at best, gross incompetence, continue to operate in the same area of business.
It's a horror story.
As ever, only my opinion.
Cheers Cardo.
I think we have been taken for fools by the Directors, simple as that. JLP hold 30% of shares and with that holding they can do whatever they want with the full support of CB.
What is going on with Pursuit? Is that dead in the water or on-going? If on-going we are in for considerable costs whilst going no where. First timeline gone, costs incurred, second timeline includes maintenance costs, it's all in the Pursuit document! And for what?
If it isn't copper CB is not really interested, see XTR and BZT as examples.
Between them the Directors and Secretary can't even get the BMR, now Kendrick, web site up to date; it's a nonsense currently.
I have never believed in the Royalty agreement simly because no one has ever been able to produce a copy. Alledgedly it was 15% but that was reduced to 11%, by CB, what's to stop him taking it all the way down to 0%, can hardly see JLP objecting! Maybe a failure to secure "Ministeral Approval" will enable some one to write it off!
My views.
E&OE
Yeah Rich. Where was Sir Mick Davis of Vision Blue when we needed him. His outfit has pumped millions recently into a vanadium play owned by Ferro Alloy Resources.
Yes..disappointing..nothing from pursuit minerals though so it may well still be on.. just hope we don't have to pay to extend the option. There is normally a bit of leeway with these things..
Meanwhile vanadium prices are increasing which should help raising the necessary capital..
Well the 31st of March has been and gone. Yet another load of failed promises, apart from burying the BMR name. This lot should be .....
Just been re-reading the latest annual accounts dated 29/12/20. Had to laugh at this bit under Directors' Responsibilities.
" They are also responsible for safeguarding the assets of the Company".
Feck me Alex, you played a blinder there mate, just not for the existing shareholders though.
don't see that happening , threads still exists for delisted stocks such as CHL.
Amazing to think our JLP shares were sold at around 2.5p but now worth 17p ......
Will we get shifted off this BB I wonder, and get a shiny new Kendrick one to rant and misbehave on?
Strange, BMR still mentioned on the website and Kabwe mine and tailings are listed as if Bozza palming them off to JLP for a handful of beans was just a bad dream and never happened - "In recent years, the ownership of the Kabwe complex has been rationalised and since 2008 has been steadily acquired by BMR which now owns all the surface rights overs the 705 hectares at the site."
Very sloppy not to have updated things. Presumably a continuation of the poor standards of company stewardship we have come to expect over the years?
Strange, BMR still mentioned on the website and Kabwe mine and tailings are listed as if Bozza palming them off to JLP was just a bad dream and never happened - "In recent years, the ownership of the Kabwe complex has been rationalised and since 2008 has been steadily acquired by BMR which now owns all the surface rights overs the 705 hectares at the site."
Very sloppy not to have updated things. Presumably a continuation of the poor standards of company stewardship we have come to expect over the years?
Change of name and website http://www.kendrickresources.com/
Anyone had same issue as well, BMR page not found
Not Found
The requested URL was not found on this server.
Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.
Link to appointments
https://find-and-update.company-information.service.gov.uk/officers/a2uYYZisR6hzUnXQ67cDGhaKJjk/appointments
Seems that a start may have been made unless this was part of the smoke & mirrors. My this man has a penchant for names. Wonder how close he is. Not enough fingers for all the pies
Certainly an avid collector.
https://find-and-update.company-information.service.gov.uk/company/11926103
BMR Kabwe Ltd
https://find-and-update.company-information.service.gov.uk/company/13114634
Kendrick Resources Ltd
Director for now
Stephen Frank RONALDSON
72 appointments, familiar names.
Yes.
So if kendrick float on stock market i own shares in that?
re "Sorry to ask again . Does it mean that my bmr shares will become kendrick ahares ?"
It means BMR has changed its name. It's still the same company
Jez, BMR plc web site, investors tab, publications, circulars and notices, letter to shareholders dated 11/01/21. Alternatively phone or email the Secretary, contact details on the web site.
Sorry to ask again . Does it mean that my bmr shares will become kendrick ahares ?
Hi all i am after some advise . I own thousands of bmr shares . What can i do with them ?
Will bmr ever be relisted . How do i sell them and to whome .
Just one point to add. From memory the telephone conversation with Borrelli was after suspension and not after delisting.
Hi. It may have been my own post some while back. My BMR shares were in my HSBC isa. I didn't get a choice, they were removed from the ISA and sent to me in certificate form