steveauty, West is invested and is not a deramper - just a very concerned PI, seeking re-assurance but finding very little if any.
Nobody really knows what is going to happen here (the BoD must know to a certain degree). I have said it before and I will say it again, I am desperate for me and every other PI that is negative to be totally wrong. I want this to come good. BUT, for me and a lot of other PI's, the signs are not good.
I have already stated any one making such accusations,I am willing & able to prove my holding,as long as you are will to do same. The way things are going I will have to provide proof to BMR watch,if enough OPI are willing to act together. Posting here because the leaders & knowledgeable have posted very little, I was in GG1 but cannot remember if holding proof was required? The email used then is still used, I am based in the West Midlands.
De-ramping when a share is suspended lol now that really would be a foolish thing to attempt. Just chill there is no point debating what you can't influence. This is either going to go bust and everyone loses or good news comes and everyone is patting themselves on the back. Either way take a break nothing you can do at this stage.
What do we know more today,what did we get from RNS, IMHO not a lot. minor,brief minimal information. Investigation ongoing,suspension still in place. Financial impact of investigation, no idea,Kick can into 2015. Running costs,cash position & will more finance be required,how much & when? Peer review of desk top study,DFS, is there a mining expert who has not looked at our plans for WPT & LPT Next shaman to visit site & appease the Z&L spirits & other lost souls at Kabwe mine? Shaman: He say spirits will increase & souls will maximize returns.
Something missing, Do company know that tailings Z&L cannot be produced at a profit,not likely, they have stated via RNS:
"The simplification of the gravity flowsheet is expected to provide a more robust and manageable process that should enhance the already attractive economic returns reported in the DFS".
The mine, I think MOU/JVA signing may have allowed the possible partners to do some testing,we OPI never kept updated or know if such events occurred & never informed of results.
T/O nobody interested because poor grades or very little left? T/O Some entity wants BMR & assets,but hoping company runs into or is driven into trouble,delay whilst funds are being drained & hope killed,body in hibernation, is heart still pumping & blood flowing? in a state of meditation. When body comes out of hibernation,will the clothes still be in place, liquid & food available on what terms & cost.
If present BOD are confident of future (remember they are running BMR OBO shareholders & thus should be keeping us updated, suspended so no worries about market sensitive release) then why not state present how much cash is available. Why not clearly state position, running expenditure? what harm will that have been done. AB & MW could have disclosed some idea of impact of investigation positive or negative (legal or criminal reason,I would have no complaint & wait until obligations allowed sensitive information to be released) They are not King Borrelli V & prince Wainwright, so they can do as they think is appropriate. We still have no idea who appointed the chairman/, on what terms & package or very much detail on anything. There is no known shareholder with a huge majority holding, that enables them to control the company in such a manner. Was my money or any OPI money invested via a lower classified shares,which do not allow for questions & accountability?
IMHO we OPI should contact nomad/company for a explanation ref. appointment of AB. shareholders come together, build some consensus & momentum,start asking question as a united group. What I do not want to find, is a new revelation, that BMR need to fund a item that was signed by MA for JVA for copper. Keep looking for danger of unknown obligations. It seams we have to dig out news, positive & negative,not very much is released
AB was sanctioned by who? - nothing against AB but he has more of a history of firefighting than a history of building empires - could we not have got Harvey Jones? - it is these pointers that cause my concern. Eric and Fireball may well be spot on but again the pointers are there - why did none of the agreements/JV's materialise? - more funding req'd early new year enough said!
Nice one Eric. I, personally don't see the drastic scenarios posted last evening. We, as you say, have significant polymettalic assets. The published DFS provides us with a guideline as to what is achievable with capital spend. We must base our comments on the information communicated through official channels. I see no reason to suspect that the DFS was a misleading document written purely to further BMR spin. To date all the information points to a profitable processing opportunity and all the relevant licenses and permissions are in place. The World Bank, Blacksmith, Kabwe, the ZG, ZCCM and BMR stakeholders are all interested parties for one reason or another. The World Bank offer Co-Financing arrangements and could potentially help with remediation of the site. I'm sure other institutions would offer financing based on the salivating numbers in DFS part one with son of DFS likely to offer even more attractive returns. There is a job to be done here and a leaner, meaner, focused BMR can deliver significant returns from the asset based. I agree that communication must now be clear and concise and that future timetables must meet investor expectations. The vale of secrecy, the intrigue, the conjecture must give rise to a transparent operation in order to secure investor confidence. It must now be made clear to management that the time for excuses is over and that any slippage in timescales must clearly be outside of BMR's control. A clear concise project plan with objectives clearly defined and management to report on a timely basis on their progress. This new pressure group should now make its presence felt and must also remind the BOD that they are running our company, on our behalf and that they are employed to make decisions for the benefit of all concerned. I have no objection to rewarding anyone achieving goals laid out and should they overachieve then further reward should be forthcoming. On the lifting of suspension we should have honest and achievable plans in place. Lets kick off the New Year with a company that has direction, leadership and is motivated by return rather than its dubious ability to raise funds with bunches of carrots in an attempt to placate a bunch of hungry PI's who have never had a bite of that elusive cherry.
Hi David. The RNS didn't contain too many details, only that the investigation has made good progress, and the fact is we can't have an AGM until the accounts are cleared for publication. It was at least an update, though no mention of how much cash is left, or indeed, if we have sourced a JV or off-take partner. It does mean we can forget about the suspension being lifted until early next year, but progress is being made at Kabwe, which to me, doesn't suggest that this will be wound up. Today's RNS was more of a neutral tone overall, but I would say that before suspension we were seemingly well placed to progress.
I understand the negativity that this temporary suspension has brought, but until we are told that our Company is no longer viable, then I still feel we'll come out of the woods. That's about it, I have no special knowledge other than the knowledge of where we were sitting before suspension, with our licences in place, ZEMA approval, no debt, and valuable multi-metal assets.
I remain cautiously optimistic for now. The next couple of months is vital though, and a plan must emerge to bring us this long-awaited value. Whether JV, total sale of the Company, or a plan to go it alone, I don't know. Only that I do still have my hope, in the face of this apparent adversity, because of our position prior and that no bad news has emerged since suspension.
I've tried to help people on here, attempted to prevent them from worrying, but largely to no avail it seems. We are obviously all concerned at this moment in time, but worrying will only add to our woes, when everything at present is out of our control.
I've concluded that some on here just can't be helped though, and in fact, it's all been said anyway. Reading the bb has become quite depressing for me, so I have refrained from posting. Simple as that. For those who wish to explore only the negativity and the 'end is nigh' stance, then I'd rather not be involved, until such a time as it is warranted. It will only be warranted if the Company informs us in the negative, that it is being wound up. This may not occur, far from it perhaps, so I'm dammed if I'm going to think along those lines and almost convince myself of it without any such evidence. That makes no sense, bashing my own investment.
The actual reality of the situation behind the scenes is unknown, so it's up to each of us how we deal with it. I choose to believe, because we have not been informed otherwise, that we still very much have a lifeline, and that as such, AB will turn things around for the better.
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