Think that would be a disaster scenario as although we could right off £4.3m it's the implied longer term value of the copper, purportedly the Copper Cementation Plant and Copper at Kabwe was estimated to be able to generate $3m(£1.89m) operating profit pa once fully commissioned.
I know the lead and zinc tailings are a much bigger deal, however, I think it would have to be a bumper JV or Co-Financing deal for it to be taken seriously. Then again it must be a big deal considering we've been taking to interested parties for years, it would seem according to the years of toilet paper, I mean years of RNS's released down the years.
The mine is probably a minimum 3-5 years away, I would prefer that was sold and the cash used to progress us into a production. I know it has a massive value to us if we could get it open and into production, at what expense though?
This continual dilution of the SP over the years is getting a little tiring and it all seems to be have been exercise in keeping the company afloat whilst no serious investment was forthcoming. About time, if all the believed and hyped potential is real, for a company to show a real interest and invest in BMR. Can't imagine how those warrant holders and other investors must feel about the carry on that BMR has become, if indeed they ever held more than a few days following their "bargain" price investments.
Just for a little perspective if we are going cap in hand again... (straight forward dilution @1p)
Cash received / Shares / % dilution to company share holding
£1m - 100m / Shares in Issue = 7.439% £2m - 200m / Shares in Issue = 14.879% £3m - 300m / Shares in Issue = 22.319% £5m - 500m / Shares in Issue = 37.198%
We get a RNS that tells us we have no asset for the 4.3m we have spent, and therefore there is no immediate copper processing.
The same RNS will also provide details of a joint venture and financing agreement to progress towards processing the lead and zinc in the tailings.....hopefully we get some information about re-opening the mines as well.
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