I think it's fair to say that their short to medium term bonuses are already in place in the form of huge amounts of share options at a good price with moderately stretching targets which, by and large, take no account of SP, although one might hope that SP would rise as said targets are met. Agree with you that any VOG/BLVN style bonuses before long suffering shareholders receive any reward would be anathema.
Direct Cost is estimated to be $120 per tonne input, down from $150. Product ZSH is sold as a finished product for agriculural use and is 21% Zinc. I'm not sure about the lead sponge. The Vanadium is again quoted to be a saleable product as currently valued in an RNS at prevailing market value. The slippage in plant build is mainly due to ZEMA. They are obviously tweaking design to accommodate recovery of other metals. I've calculated an EPS of around 2.3p per share to start with. This will rise significantly as production is ramped up. I have included a slug of cost for the Head Office. The EPS in 2020 based on the increased number of shares is about 9p should prevailing market conditions and the plan come together. All numbers are based on the information released and the proviso that management deliver the plant, Star Zinc and the recoveries and of course the political climate and market conditions remain favourable.
Well said minimil. As you mentioned, I agree any further slippages in plant and prodution could result in the death of BMR. There had not better not be any bonuses! At least untill we are making money and the SP is in a decent place.
It would be good to see production some day, though I know it will take as long as it takes. I got in when the Mcap was around £50m, so a return to that valuation would be a minimum target for me personally.
Setting up a plant like this is not child's play so let's hope they have the right personnel in place with the right capabilities to deliver.
Hi Jerimiah - Yup far east Asia, Malaysia truly asia. Used to be accused of being Anne Frank sad person stuck at mummy's home with no life in the middle of the night by some retards on another board i was on. I was in BMR back in the days 0f 2009-2010 when I bought in around 1p in old money saw it rise to around 7p then drop like a lead ballon to 4p at which point I sold out. Felt really sorry for the guys who decided to stick around now knowing what a crook the previous incumbent was. The warnings were out there after the two muppets presentation... Company has moved on now and I am reinvested. My likes on the forum are from genuine investors seeing both sides. My hates are for rampers without foundation for what they preach. Back on BMR key is getting pilot plant production going as early as practically possible. Being an engineer I appreciate all the issues, but it would be nice to see a level 2 plan for this project, something which is concering by its absence. Atb MM
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