The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Alex, AB, Borrelli, or pick your own lol.
Oh, it's "Alex" now is it. Hmmm.
Hi Vig,
I think that's a great idea and I'm sure BMR Watch will propose it over a meeting early next year. It would be great to hold onto the Royalty and pay the cash generated from it as a dividend to BMR shareholders, bearing in mind the life of the project is estimated at 20 years!
I get the impression that Alex wants to sell it, but only at the right time. I would be happy with a lump sum payment from an eventual sale, however, the thought of dividends for the next 20 years is also very appealing. It would certainly maximise the potential returns for shareholders.
Takeover GLR?? Well it's possible, they are valued around £2.6m and we probably have more cash in the bank than they do. I reckon they will need to raise funds shortly but they might end up getting a cash advancement from JLP as part of a deal with Star-Zinc? I'm sure we could do better than that though...
GLR??
The Royalty will be hived down first. It will not go into the new company otherwise we will be diluted on the Royalty payments or a sale.
Once the listing is completed he said he might need to do a fund raise, so that's one way of funding the exploration side.
He mentioned that the acquisition will be made up by 20/30% of the acquisition company, 20/30% of BMR to the acquired company, and possible a further 25/35% by way of fund raising. Effectively it will be a merger of the two companies, 50/50 if you like. Let's say there is £3m value on BMR and £3m on the business that is being purchased, it will equate to £6m MC which was the value of BMR before de-listing. However, that's just an example and it could be more or less, and there will likely be more shares in issue than before.
Ask yourself would Alex Borrelli do anything that wasn't in the interest of shareholders?
Spoke to AB today, I have posted full details on the BMR Watch website. For those that don’t have access, a brief summary below:
-We are looking to buy two businesses, one scheduled this year, the other for early next year along with the listing.
-The first stage of the acquisition will be funded via cash (we have a fair bit of cash in BMR). It will be an exploration company in the mining sector.
-The main acquisition company will be done in a reverse takeover or similar type deal. It will roughly work out at 50% dilution but we will get 50% of the acquisition company meaning the value should be the same as BMR was, in the enlarged group.
-The Royalty will be hived down into a separate company for BMR shareholders, it will be separate from other businesses. Once it becomes valuable it could be sold off for the right price and money returned to BMR shareholders. It will not be sold off cheaply.
-We are likely to do a standard listing on the London Stock Exchange (main market, better than AIM).
re "Its such a pity you are incapable of recognising the above".
Oh don't worry, I recognise what you are saying. I just find it odd that you were unable to see through our resident snake oil salesman BEFORE you invested so heavily in BMR, given all the adverse information that was in the public domain at that time.
So at 46.5 million shares if jlp get to 10p our shares are worth £4.6m. I think we need to protect these shares as there is a possibility jlp could reach 10p an the next few months fingers crossed
?
At what point in this process did you have your Damascene moment? I ask this because I am intrigued at the complete change in your outlook of late. Just a few months ago you were telling us you had just purchased millions of shares and were ramping it to death even as the brown stuff was approaching the fan. Now suddenly you are spreading doom and gloom and going for Borrelli like a forensic police officer. Pray tell what was the turning point for you?
Bring - typical poor advice from you. When the company was listed (and shareholders had some rights) you advocated to do nothing. Now it is delisted you congratulate pointless letters.
Well done adJshare and Vig on the letters. Nice to see some shareholders taking action.
As some of you will be aware I written a letter myself which was sent early November from BMR Watch. We hope to pick this up with the Directors and arrange another meeting with them early next year.
Not sure that would make any difference TBH. Let's face it he buttf**ked us good and proper BEFORE we became a private company
This is what concerns me: As a private company he is all powerful.
I would rather see us listed so that the eyes of the Market are on him, not that it did any good before. It looked all to rehearsed, the License, the Suspension, Bird on Board, The De-Listing and the sell off, very murky waters now. I would prefer that we had market transparency and a market value. Shouldn't we allow him to let us see what plans are afoot, if any.
Ok I would also send it to alex.borrelli@bmrplc.com, tony@gardner-hillman.je, colin.bird@bmrplc, normanlott@live.co.uk
The info@brm address bounced back so I sent it by post.
Which Email address did you send it to? If it's just the generic BMR address it might not get picked up.
Just one point re your cc to chairman. Isn't Borrelli also the chairman?
Great idea.
I recommend everyone on this board do the same.
Not sure it would sway Mr Devious from his chosen path but puts him on notice should he overstep the mark.
Mr. Borrelli,
I am writing to you as an owner of over £xx,000 of BMR shares. Having read your RNS statements and sentiments, I believed you when you said that you saw your role as BMR CEO to reinstall shareholder trust in a company previously ruthlessly exploited by the previous CEO. You stated that your mission was to realise BMR share value to its long suffering shareholders. Since that time the story for BMR shareholders has become even more one of unfulfilled promises and false hope.
The purpose of this letter is not to berate you for your management of BMR. I am writing to communicate to you that I am very sure that by far our biggest asset is the Kabwe Royalty agreement with JLP. I wanted to communicate to you and the BMR Chairman that I do not want this Kabwe Royalty sold off or used in part payment for any future BMR acquisition or joint venture with another company. The same sentiment also applies to our JLP shares and the number of shares currently issued for BMR as a company.
If enough shareholders share this sentiment then I hope you will not suggest that you were unaware of such feelings at a later date.
Faithfully, A
cc: BMR Chairman
troajan
im at work, so when the boss buggers off, ill watch it, cheers
mick
towards the end of this jlp vid,the question about bmr was asked bud......http://webcasting.brrmedia.co.uk/broadcast/5bfc0a9dde87317597836b02
i was on it years ago, when it first started. my ex wife must have set it up for me. ive obviously forgotten my password to log back in. ive got 213000 shares,