keiny1 - that's a nice thought. IMO he has been trying to sell BMR since the final acquisition of LSML and the mine. IMO he never got anyone interested in his price hence the current charade of appearing to be heading towards production but actually doing everything except producing a single ounce of metal. IMO he is being dragged and screaming into production which he never intended to do. Only problem is it's us getting kicked and it's us doing the screaming.
I don't think that it's a foregone conclusion as some seem to be suggesting, I really don't.
As ever, many PI's are looking at this as a binary play. BMR is not black and white by any means. Stake building continues as does likely institutional trading - I am not certain if this is with MA's tacit approval or not - but the news vacuum is allowing for this to happen.
A few PI's swing-trading this isn't going to have a huge effect on things, they don't have that kind of influence.
We remain range-bound until we see production plans with numbers OR we get taken out.
Next month will see our annual report released. I would like to be able to piece together and compare updates on warrants and share options as well as those "contractual agreements" made by BMR/EPL which appeared in the 2013 annual report in notes 22 and 23 (Phoenix JV, Bwana Mkubwa Consortium Joint Venture and Rephidim Mining Supplies Joint Venture)
It's a tangled web that I need to try and spend some more time on trying to piece everything together.
according to some field pics posted here, i cannot see the assembled copper plant, and the new crackers(white one in the pic) are too small, so full copper production, we may need more or bigger one. and please recall the info of RNS, the first stage of copper production, in my opinion is not sufficient enough to give enough cash flow to the company. until the second stage, full copper production stage, there is no way but dilution to maintain the cash flow. i just hope the dilution is from the warrant rather than equity issue.
According to some, BMR has done naff all over the last few months so the cash burn would have been far less than normal. Results out at end of November will give us a better idea of where things stand rather than trying to second guess whether a "massive dilution" (lol) is on the way.
during the testing progress, and the equipment purchase, i can see an accelerating money burning speed, say the rate is 150k per month before, now i assume it is at least 300k per month, if we cannot hear anything by the AGM. we need to see another dilution, considering the sp without production by agm, a massive dilution.
Hi mate, yeah I've had a small punt on Oxus last month so fingers crossed it comes good. Re BMR its obvious they know squat about mining so once they get a reliable 3rd party to provide expertise and resources to actually process something then this share will eventually kick on but not for another 6 months at least imho.
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