Berkley Mineral Resources PLC have a strategy of processing tailings at former mines as a mineral processing company. Their main focus at current is the extraction on zinc and lead from tailings Dumps in the Kabwe mine in Zambia.
Wassstt I have seen you post, nothing for me to moan about & if I thought you was up to no good, I would do my best to highlight it. I was too quick & abrupt with my reply. Shareholders last in the queue if company are facing liquidation or administration. I cannot see any reason for those to occur. If I am wrong, I want pi to ask questions & hope answers remove any doubt. That is why I am asking pi not to take anything said in the past as fact, what is the harm in rechecking & making a statement of BMR owned assets & obligations. Keep seeing Chingola is dead ...etc...with all these changes...we need to find out, what/if any obligations did MA sign BMR up for. When all is said & done(argument sake) & some of the MOU.JVA or non sub- part owned company agreement are terminated. How long will it take & what cost, negative or positive flow of cash....I was thinking that the prepayment reason may have credibility but also could be ideal reason for time to do a examination of all projects. As long as we informed,I would not object if it took a month or more, but not without some update. REVALUATION IS NEEDED that then becomes a new start, from a known asset value. The main reason I moved away from ANGM, was the man in charge kept trying to get the second stage up & running before the gold mine was profitable. The debt was rising fast, with out the means to keep it in check or even reduce it. All the money & time spent on the second stage made me suspect their statement's about welfare of shareholders & intentions. All IMHO
Where are we headed?
When MA's resignation was announced on 20/10 BMR was in advanced discussion to appoint a permanent chairman then three days later AB's appointment was announced. Clearly, discussions had been ongoing long before MA left and AB was being brought in to replace MA. Appears a simple case of did he jump or was he pushed but on whose instigation and why. AB's history is in takeovers and acquisition or liquidation so are we going one way or the other?
I was meaning if it was next wk or the wk after, nothing for PI
RE: 1Laffer / EGM
Wassatt, First and foremost, I hope it never ever gets this far, BMR will release positive news or announce the AGM which turns out positive and all is good with the world. I am no expert and have not claimed to be (if anybody out there is, perhaps you could enlighten us). However if you have more than 50% of the shares in circulation I would of thought you can seize control of the company. Hell you could possibly do it with far less and the snowball effect would take the initial group the rest of the way. If the PI's so wished with that sort of unified power, you could get rid of the board. If the board deny such 'motions' then legal action can ensue whilst all assets are frozen (they cannot be sold). Legally, I do not think the board have much of a leg to stand on in such circumstances. I was not focused on the £600k (although worth having/freezing whatever was left in the bank as part of any lodged motion), I would want to prevent a fire sell off of assets on the cheap or a deal that simply rips-off current shareholders. Again, as I have already said, this may be completely naive but this is what I would focus on if I thought BMR were going down the underhanded route. Let me be clear - I am not saying they are and I have no evidence to suggest they are. However, I would like to be as prepared as possible should it turn out that shareholders find themselves in that position.
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