Brynjon - I'm sure AB said at the AGM that Dennis Bailey had approached him to look into BMR whilst MA was still in office. AB said that he met with MA once or twice (can't remember exactly but it wasn't much) before MA stepped down/was given the elbow. Dennis was at the AGM and now has some warrants along with the other directors. I suggest Dennis is either running the show or maybe at least he is fronting it for someone else behind the scenes.
Anyway, onwards and upwards and we'll continue to bury the ghost of Christmas past. Hopefully, the next RNS won't say that BMR have identified some copper tailings and we will be pursuing those through an option agreement :-)
selfservice - though the concept of shareholder ownership is understood it seems off that we had an exec director who was fleecing the company - it was someone else who made a decision to change the board. Was it Horacio Furman nor Mark Wainwright's decision? Furman and Wainwright allowed MA to do his thang!!! So were they so inept in not keeping their eye on the ball - unless of course they were the ones trading the ar5e out of the share
They never said anything publicly, and were they competent to make such a decision as to bring in AB who publicly slated them, so to me there is someone else pulling the strings from afar. It certainly was not the decision of the majority of posters on here, iii or advfn etc,
MA was apparently not fit to make a decision - this is what is bugging me. That together with the fact many suggested in the past outside influences are present. Just wondered if anyone had gotten to the bottom of it.
Maybe I am overthinking things but in the great mix I think AB is making all the right noises and putting out well worded RNS, though in the past I thought DH and MA put out some great information which turned into misinformation. Having had a finger in the shareholder meeting with AB I do think he is the real deal though obviously a little cautious.
Nobody other than shareholder own the company. A board appointment such as the chairman is made by the existing board of directors if they are in agreement and vote the director into office. Directors then stand for re-election by shareholders at the AGM every two years usually.
Listening to the audio posted from the interview 6th November - interesting to not that the offer to shareholders may be on like for like holding along with the warrants. Thanks for the link val.
In all the confusion of the events over the past year and a bit did we ever get to learn who actually owns BMR (of course other than the shareholders) - I know we had MA who was of course our previous exec director and we have AB shipped in as new exec director but AB did not buy the company did he? He was brought in by WHOM? I am at a loss as to who holds the actual reins to our company above AB.
Good post. I was under the impression that the funds required to get the pilot plant into production have just been raised. The pilot revenue then funding the main plant. I take your point though, we can't rule out further need for a cash injection at some juncture, because we may not, as you say, be in a position to switch on the revenue tap from day one from the pilot plant. However, we do have the WKS sales to hopefully assist in our efforts. I would suggest that parties must also be being sourced to take the lead and zinc, once the pilot is up and running.
We'll have to see what happens, but I do agree, that if funds are to be raised at various stages, we shareholders should be rewarded with a decent offer to participate in that. It may be a measure of AB's integrity, but it's also a way of retaining our support, keeping us on the up, particularly after what has and continues to be a tough slog.
It's like a collective of companies beaten into the ground by the recession and incompetent management... perhaps it's one big therapy session led by an earth mother in a flowing floral dress singing "I'd like to teach the world to sing..."
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