The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I don't think your maths are right, KlueLoss. JLP don't just get a flat 20% return on their initial investment. I think they are looking for an IRR of 20%. So, 20% keeps compounding on whatever is outstanding until they are paid back. So it depends on how quick they get to profitability and recover their cash. So, my guess is that it is more likely to be between $25m and $30m off the top for JLP. That assume it takes between two and three years for JLP to get paid back. Which is pretty quick.
The other problem is who is going to check what costs are charged against the project? This mechanism is open to abuse. For example, will JLP be allocating central costs against the Kabwe project? Who is there at BMR to check the calculations? Nobody.
Agreeing a royalty on profit instead of revenue was daft.
Yeah you’re probably right.I think that’s just for BMR and Berkley Minerals Resources only and flicking back not all records are available.
I think it's alot more than that mate, when you then look at how much was blown on the 'copper mine' alone it comes to more than half than that
Neither can I. I’m in shock more than anything.
Amazing how quick they got everything in place on Monday morning considering for 6 months its been near total silence from Borrelli. It’s almost as if it this has been the plan for sometime.
https://beta.companieshouse.gov.uk/company/02401127/filing-history
Try 26.01.18 “Statement of capital following an allotment of shares”
I believe that’s the running total of money raised via placing shares.
I've looked over the RNSs and I cannot see how this could legally have taken place in shareholders best interests, I was fully expecting BMR shareholders to receive 1 new JLP share for their BMR share under an M and A agreement. Although I hold JLP I still cannot see how this could be done under UK Law
It is alright, from the earliest of confetti:
RNS
14 August 2001
The Company's subsidiary Dominion Energy PLC ('Dominion'), with producing oil
and gas assets in the USA, is now raising £1.5 million via a private placing.
Dominion intends to use up to £500,000 of funds raised in the placing to
further optimise existing oil and gas leases in Kansas, USA. These assets
were recently valued independently at US$11 million. The remaining funds are
for working capital purposes and to fund expenses associated with developing
oil and gas opportunities that have been identified in Turkmenistan and Iran.
Christows Capital Limited is acting as Corporate Advisor to Dominion and on
completion of the fundraising Dominion intends to obtain an OFEX trading
facility. Assuming full subscription under the placing at 8 pence per share
the number of Ordinary Shares in issue will be 94,915,738 representing a
market capitalization of £7.6 million.
14th August 2001
For further information please contact:
Masoud Alikhani, Acting Chairman
Ran the numbers earlier on today on our new deal, I believe I’m right but you can adjust the amount to be spent accordingly, my figures are based on an upto $15m project CAPEX by JLP
Based on current exchange rate £1 = $1.2946
Based on JLP spending UPTO $15m or £11,586,347.87
Before we get access to any royalties the project needs to pay JLP
£14,133,616 or $18,297,762
My working out....
The first £2.3m spent on CAPEX (or $2,977,642)
They want that back plus 30% before any royalties on the above
So £2.99m or $3,870,935 to be paid back.
So take £2.3m from £11,586,347
Or $2,977,642 from $15m
Leaves £9,286,347 to spend or $12,022,358
They want 20% back before any payment on the above
Which is £11,143,616 or $14,426,827
So add £2.99m and £11,143,616
Or $3,870,935 and $14,426,827
Disgraceful
It would be a fairly colorful amount I imagine over 18 years, I wonder if it hit £100 Million. Might have been close to it
28 March 2000
Masoud Alikhani raises £1 Million for BMR, this ticker survived just over 18 years between the two CEOs. I'm intrigued at what the grand total might be, there was plenty of jam tomorrow and confetti under Berkeley Mineral Resources
Statement of capital following an allotment of shares on 19 January 2018
GBP 22,733,943.633
From the accounts
It’s in excess of £20m.
BMR once raised £6.6m in one placing.
the total amount of money that was raised here over the years under the two different CEOs to get to the point where it is today.
I haven't really tracked this since post consolidation but how much money was raised and spent here since Borelli took the helm?
"Borelli Capitol Ltd".
Presumably the only company he hasn't joined as a parasite.
About MR MICHAEL ALEXANDER BORRELLI
The combined cash at bank value for all businesses where MICHAEL holds a current appointment equals £8.5m, a combined total current assets value of £61.1m with a total current liabilities of £56.8m and a total current net worth of £9.5m. Roles associated with Mr Michael Alexander Borrelli within the recorded businesses include: Director, Company Secretary, Llp Designated Member
Where did all the money go?
Mr Michael Alexander Borrelli holds 9 appointments at 9 active companies, has resigned from 23 companies and held 11 appointments at 11 dissolved companies. MICHAEL began their first appointment at the age of 34. Their longest current appointment spans 12 years, 2 months and 26 days at BORRELLI CAPITAL LIMITED
https://companycheck.co.uk/director/904943807/MR-MICHAEL-ALEXANDER-BORRELLI/summary
If you can only see “Home” and “Info” then in the top right there should be a space for you to enter your username and password, provided you accepted your invite which site manager should’ve sent back once you requested access originally.
Go on the website and sign up - all instructions are on there. You can Email once you have made an account and mention your holding in it, or post up on the shares thread...
https:// bmrwatch. shutterfly.com
Remove the spaces before "B" & "S" (just for 3card)
Don't know if anyone had a chance to watch the JLP webcast this morning at 0900. I asked a question along the lines of " Bearing in mind that Colin Bird is on the board of BMR and JLP owns 29% of BMR, in what way do you think that the best interests of BMR shareholders have been served following recent announcements?"
Needless to say it didn't get a mention. JLP is my only route to redemption now( imho for BMR's benefit)
Guys - if you log into your Shutterfly account on the top right of the home page you will access all areas - well most of them.
Next to Home is info, but no Share chat
dont know how to log into this site,but u can book me down for 550k in shares,if thats appropriate....cheers
Rofert will like some kind of lame Rodent, Rat springs to mind. Sad individual seeing his days out