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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects Watch Here

#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign


Berkeley Mineral Resources Share Chat (BMR)



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mikesurt
Posts: 793
Opinion:No Opinion
Price:0.00
JLP Shares.
Today 10:47
Bring baby......why all the hype as usual......BMR are selling down their stock [ legally ] the main point is where is the
money going ?
 
BringMyReward
Posts: 3,687
Opinion:No Opinion
Price:0.00
JLP Shares
Tue 16:57
According to the RNS released on 15th Jan 2018; it states that JLP shares are subject to lock-in. We started out with 63,166,969 shares. We were able to sell 50% after 6 months. On 14th December we dropped below the 3% threshold after selling circa 15.3m shares. This left us with 31,152,693 which was reported on 18th December. 50% of 63,166,969 is actually 31,583,484, so it seems we sold a little over 50%.

As stated below, it’s now been 12 months since the lock-in, so the remainder of the 31m shares are now free-trading. If I’m reading it right, even after the lock-in has been lifted the sale of any shares are subject to an orderly market agreement for a further 12 months thereafter. 20 business days must be given to provide matching buyers for any shares sold… It could take an awful long time to sell 31m at that rate… If we start seeing more selling activity for JLP we will know why!

“(c) after 12 months the balance of shares (being 50% of both the BMR Subscription Shares and the Jubilee Subscription Shares) will be released from the lock-in and will be free-trading; and

(d) for the initial 12 months following completion, any free-trading shares shall be subject to an orderly market agreement whereby, before any disposal, the selling party must give the broker of the respective company, not less than 20 business days to provide matching buyers for the shares offered for sale.”
Rofert
Posts: 375
Opinion:No Opinion
Price:0.00
RE: Nice to see ......
Tue 15:44
He did have a mini meltdown. Probably in the sin bin for a couple of days.

If he does that on an anonymous BB because he was challenged he will be hopeless trying to explain to the police about corruption, money laundering, corporate fraud, director collusion and incompetence. All allegedly.
Rosewall
Posts: 6,828
Opinion:No Opinion
Price:0.00
RE: Nice to see ......
Tue 12:06
Bring, Eric,

He totally lost the plot. Sad really as his contributions can give food for thought but the tantrum was a little excessive.
mikesurt
Posts: 793
Opinion:No Opinion
Price:0.00
Bring my reward.
Tue 10:06
Bring baby.....good day.......So you've had a telephone call from Borrelli lawyers aye.....[ regarding my address ] Well
my son , upon contact I will hand them to [ my ] lawyers and confirm your involvement and your BMR privelliged
contact with the CEO / Chair of a company undergoing investigation. The BMR goupe platform is being abused if
it condones members address's being divulged....and in itself is a criminal act ? Finally I don't live in the UK, so the
costs of this action is going to be paid by whome. Your an idiot Bring.....go fantasise with Virginere and count your
losses on the back of a postcard. All the best .......regards.
bodg
Posts: 221
Opinion:No Opinion
Price:0.00
RE: VIG
Mon 19:10
No-one at the Company has any connection with Blue Square or participates in any payments contractually made to Blue Square." Sounds like they are trying to put a lid on a can of worms! How can no BMR employees "participate" in the payment process? Someone has to have negotiated and authorised payment….. or does the money just fly out of the bank every month? This deal might have saved the licence but it didn't do us any good and it is solely for the benefit of JLP and Alex trying to save face after losing the licence in the first place. I hope it does end up in court because I'd love to hear how they justify $800,000 in brown envelopes to Zambias elite and in the process almost bankrupting us!
BringMyReward
Posts: 3,687
Opinion:No Opinion
Price:0.00
RE: Nice to see ......
Mon 16:20
It was a cracker, made me chuckle at 7am this morning.
EricDraven
Posts: 26,381
Opinion:No Opinion
Price:0.00
RE: Nice to see ......
Mon 16:07
I missed that one. Must have been a beauty. Lol.
EricDraven
Posts: 26,381
Opinion:No Opinion
Price:0.00
RE: Eric
Mon 15:51
Good points. Had we known prior, the possibility of having to shell out such an amount to Blue Square, then I would suggest there should have needed to be a more detailed explanation of the service to be provided. We still don't officially know exactly what BS did, to assist in retrieval of the licence. Neither do we know why the licence hasn't been suspended again, due to JLP's lack of progress at Kabwe.

Nothing appears to have favoured BMR shareholders really though, and we must remember that ZEMA approved the processing of lead and zinc using our own proprietory methods. Why were these methods then later deemed almost immediately unviable by the JLP team? Price of acid, yes, but I can't help but feel that Jeremy got the rough end of the stick. He seems to have been unfairly steamrollered out of the picture.

I'm all for a larger plant, but we can no longer look forward to a main share of any future profits. Far from it. I'm not sure why JLP haven't yet cracked on, as they were supposed to. It makes their percentage of profits look even more false. I'm sure the JLP holders aren't too chuffed either with the lack of progress on this project.
Why are the licence rules severe for BMR, yet seemingly not so for JLP?

Many ponderings 3card, and it's frustrating not knowing the answers. It would be appropriate though, considering our reduced profit margin due to the derisory deal struck by Alex while we were off AIM, to have an indication of just when we'll be likely to see the royalty. What is JLP waiting for? Is it looking to adapt a former plant?

We looked at the old Sable plant and deemed it unsatisfactory to acquire and utilise, so if JLP is able to use an existing plant, rather than build a brand new one, that will be another kick in the teeth for us BMR holders. Lol.

Let's see what happens.

All the best.
BringMyReward
Posts: 3,687
Opinion:No Opinion
Price:0.00
Mike Surt
Mon 12:18
I have just received a telephone call from Lawyers acting on behalf of Alex Borrelli. They requested your home address from the share register.

I can see you are on the register and hold 600,000 shares. Sorry for doubting you.
mikesurt
Posts: 793
Opinion:No Opinion
Price:0.00
3cardbrag
Mon 10:29
No offence 3card......as with all participants on these boards airing our thoughts....mine just happen to be more direct
plus I don't mince words.....as I am usually working whilst sending my spleen. Good luck anyway 3card....I can tell
your more the nitty grity type and abhore idiots. Regards..
3cardbrag
Posts: 4,013
Opinion:No Opinion
Price:0.00
Mikesurt
Mon 10:10
Like I said in a recent post, I was saying it long before you graced this board, that is the first part of your post anyway.
FireballXL5
Posts: 1,437
Opinion:No Opinion
Price:0.00
I see
Mon 09:19
Pastor Lamaswala has posted pics of himself with the former President of Botswana and Cherie Blair on Instagram. Certainly moves in influential circles.
3cardbrag
Posts: 4,013
Opinion:No Opinion
Price:0.00
Nice to see ......
Mon 08:01
......that last vile rant from Vig got deleted. Reckon he's losing it.
Rosewall
Posts: 6,828
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 22:15
Vig

"Please don't claim that JM had influence in a country in which it had no commercial interests"

You are honestly so ignorant of JM that you really have no clue whatsoever where JM's influence lay?

If you are so worldly wise then no wonder you are running up a dead end.

God give me strength.
3cardbrag
Posts: 4,013
Opinion:No Opinion
Price:0.00
Eric
Sun 22:02
Definition of quantum meruit - a reasonable sum of money to be paid for services rendered or work done when the amount due is not stipulated in a legally enforceable contract.
Breaking that down. Firstly there was never a scintilla of a suggestion prior to the announcement, that BMR had had such a substantial amount of work done that would require a payment worth 15-20% of the MC of BMR, a truly staggering figure in that context.
The only reasonable explanation one can reasonably assume for there being no contract in place when the work was being done, is that neither party wanted anything in writing. Let's face it we are not talking petty cash here and shareholders would have had serious questions to ask if this had been in the public domain.
As to whether or not the sum is reasonable, one might argue that a total sum of $800,000 would be pretty small beer in relation to a project up and running with on ground assets of c2 billion. But as BMR no longer owns most of the asset and will only receive a longer term small royalty if it ever gets off the ground, then the burden imposed on the BMR shareholders, when JLP have had to pay nothing but will benefit most, is truly disgusting.
We all know that brown envelopes are a fact of life in most of Africa and, whilst there is no suggestion of brown envelopes here, it would doubtless have been impossible for us to get the licence back without, Blue Square's involvement, however great or small. But it does all seem rather unfair on the long suffering BMR shareholders.
VIGENERE
Posts: 590
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 20:58
ATG Since I did not employ any form of that language its easy to conclude your sensitivity " EST TOUCHE ".

Goodbye. V.
VIGENERE
Posts: 590
Opinion:No Opinion
Price:0.00
RE: VIG
Sun 20:42
EricDraven hi.
I agree completely with what you ve said. The following is a selected portion of the letter from Borrelli that was dated 12 December 2018 addressed to me ---- " We believe that Blue Square s role was vital to the recovery of the licence. No-one at the Company has any connection with Blue Square or participates in any payments contractually made to Blue Square." I appreciate that he confuses the present and past tenses grammatically but the impact of his words is clear. If you want a copy of this letter sent to BMRsharewatch please let me have a postal address.
The 4 June RNS , as you say , confirms the agreement conjoinong BMR and Blue Square . Make of this contradiction between Borrelli s letter and the RNS what you will. Copies of ALL relevant documents have been sent to the NCA. I personally doubt , without relevant evidence at this stage , the claim by Borrelli that Blue Square is incorporated in ZAMBIA. Fortunately , the Zambian Embassy at London have promised , in two separate phone calls , to investigate this claim of Zambian registration of Blue Square. I should get confirmation shortly. If , IF , it is shown that Blue Square is not registered in Zambia , then the situation will become even more polluted. I totally agree . Both cannot be true. Best of luck . Vig. And please dont forget , when I spoke to Pastor lamaswala he enquired after the health of Borrelli so that rather flies in the face of theextract from Borrelli s letter.
EricDraven
Posts: 26,381
Opinion:No Opinion
Price:0.00
VIG
Sun 20:02
I may be missing something here Vig, but you say that Alex has denied anyone at BMR being involved in contractual payments to Blue Square. The 4 June RNS however does very much confirm that BMR Group and Blue Square made an Agreement whereby BMR Group would pay Blue Square. Nobody else is mentioned, as in, JLP were certainly not tasked with making payments to Blue Square. Here it is again, so either he is giving you the wrong info, or the RNS is total cobblers. Both surely can't be true. Lol.

https://www.investegate.co.uk/bmr-group-plc--bmr-/rns/agreement-with-blue-square-minerals-limited/201806040700060364Q/
allthatguff
Posts: 2,359
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 19:40
Your ancient Greek is a bit rusty. I will order one sense of humour transplant :)
VIGENERE
Posts: 590
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 19:30
ATG
Nouse does not exist in any language that I know and muchos lolos means many escape. Jo puedo hablar espanol . Je peut lire , ecrire et parlez francais mais maintenant seulement un peu. Ensa inta fagna. Salaam lecum lecum sala. [ Arabic ]

What is likely , but not provable at this level of disclosure , is that someone at Jubilee Metals introduced Pastor Lamaswala to BMR with a view to influencing the licence appeal decision. Guesswork will not disentangle this confusion . An NCA investigation might. V
BringMyReward
Posts: 3,687
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 18:51
So are you saying JLP were the ones that enlisted the services of Blue Square?

Regardless of how the licence was reinstated, the ball is firmly in JLP's court where the Kabwe project is concerned. It's time that they shown real progress instead of snippets of information that ends up leading to more waiting.
allthatguff
Posts: 2,359
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 18:33
Indeed, JLP, a company with technical expertise and financial means has no relevance what so ever. BMRs business nouse and track record is what swung it. Muchos lolos
VIGENERE
Posts: 590
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 18:14
I would expect there to be linkage between the Pastor and his family.

So that you may display your in depth incisiveness kindly explain why and to whom the $800 ,000 was paid.
Please don't claim that JM had influence in a country in which it had no commercial interests.V
Rosewall
Posts: 6,828
Opinion:No Opinion
Price:0.00
RE: Rosewall
Sun 18:00
Vig

When Blue Square first appeared on the scene, I did extensive research into the Pastor and his family. I think I was the first to post the detail on here, I am well aware of the linkage between the parties. Feel free to continue to believe that JM played a minimal role in recovering the licence. Don't forget, you can also believe in Santa Claus, the tooth fairy and that AB is strenuously building shareholder value behind the scenes.




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