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$800,000 as a performance fee.....that sounds like a performance alright, a very fishy transaction for a massive amount of money the company hasn’t got for doing something no one knows about without a proper explanation. That’s a lot of money even for a payoff to get the license resurrected.
BMR a very British Comedy
I would have thought it would make sense for Blue Square to keep the shares for a few months, as, once the construction is complete, they should be worth much more. Also helps protect us from a savage dip if a large number of shares offloaded to market.
I think anyone with any commonsense knows exactly what purpose Blue Square Minerals performs.
Good point. Also how come our RNS says the JLP shares will be sold, but JLP's says the shares will be transferred into a nominated broker account? Who's actually going to sell the shares and who's buying them??
Has anyone mentioned yet that their involvement proves that JLP had nothing to do with the license being reinstated...
Well the guy is Zambian born, from Lusaka. So maybe there is a connection to that company, who knows, the whole thing stinks anyway.
Lol bring. But I think he’s related to the uk registered company also called blue square minerals. BMR have referred to a Zambian registered company. I haven’t been able to find any details on them yet, aside from they have a prospecting licence that expired last year and is currently pending renewal. No idea if there’s a connection between the uk and Zambian companies.
Owned and run by two reverends and a wife? Have we actually just been fleeced by some god loving church goers? Who would have thought a reverend would be interested in owning a mineral and an oil and gas company lol! https://www.linkedin.com/in/michael-lamaswala-85387241/ https://www.facebook.com/michael.lamaswala
Deadline date for the business plan now possibly moved from the 14th to 20th June. JLP are just as bad as BMR when it comes to sticking to deadlines! I don't think we will resume trading until the end of June / early July at this rate.
Don't bother reading it, Eric. Just read this last phrase "significant returns Kabwe is able to generate over a long period of time" lol.
Shareholders calling AB won’t make any difference he does what he wants when he wants.
Is there any connection with the mystery party and AB/LC/JLP i.e. common directors - be interesting to find there is!!
Another mystery party appears. Will read the news later, as currently my mind is only absorbing the fact that more of our money is being sacrificed in return for something we didn't even know was occurring in the background. Good luck all.
IMO The suspension was always about solvency and the licence issue (mining ministry cock up given the work going on at Kabwe - albeit slowly!) was a welcome smokescreen to give BMR time to grab a lifeline - the spectre of takeover is stirring and don't rule it out of the next RNS as we are still in need of confirmed finance.
We have to rely on JLP RNS to know how Kabwe is proceeding. Couldnt BMR have added something on the end of their RNS? Jeez!!!
Really, "approved past creditors", for what?
No doubt further twists to come. If you must participate in Kabwe, buy shares in JLP. At least there is no dependency on the single project.
Lost for words.
Cant have too much of a good thing - the last bit anyway!
oops sorry plumbus i've only just seen your post
Jubilee has reached agreement in support of BMR's efforts to resolve the settlement of approved past creditors ("Creditors"), by allowing BMR to allocate a sufficient portion of its existing holding of ordinary shares in Jubilee ("Jubilee Shares") towards settlement of these Creditors in an amount of approximately GBP597 015 (USD800 000). All such Jubilee Shares held by BMR will be transferred to a Jubilee nominated Broker account. To this extent Jubilee has agreed to lift the lock-in period as defined in the Share Subscription Agreement entered into between BMR and Jubilee on 15 January 2018, to allow the transfer of the Jubilee Shares to settle the Creditors. Leon Coetzer, Chief Executive commented: "We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway. Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection. Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018."
Trust me I know few more that could compete for top spot.....and not only on AIM....Carillion ring a bell...
Leon Coetzer, Chief Executive commented: "We are making excellent progress on the Kabwe project with the construction of the primary leach circuit well underway. Final tests on the ore handling systems are expected to conclude shortly to confirm equipment selection. Further details on the project will be released following the project presentation to the Zambian Mining Ministry expected to be held on or before 20 June 2018."