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Berkeley Mineral Resources Share Chat (BMR)



Share Price: 1.075Bid: 1.05Ask: 1.15Change: 0.00 (0.00%)No Movement on Berkeley Min.
Spread: 0.10Spread as %: 9.52%Open: 1.075High: 0.00Low: 0.00Yesterday’s Close: 1.075


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1Laffer
Posts: 263
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Opinion:No Opinion
Price:1.08
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RE: 1Laffer
14 Dec '14
Eric,
Seems like me and you are broken records mate, perhaps with neither listening all that intently ;)

I'm not sure how we get out of this vicious circle / cycle....... whatever you want to call it.

Before I say anything else, you and everybody else that thinks I'm misguided, a de-ramper, pernicious or whatever desperately need to understand the following : I genuinely want AB and BMR to succeed.

I believe I have been very clear on that and continue to be. I would actually go as far as to say that I am desperate for them to succeed.

However, the reality of this situation and history strikes me differently than it does you. If this ends up being 'good' for historical holders, I would be extremely pleasantly surprised to say the least (please AB, surprise me!).

A couple of facts from my investing history along with some questions for you:

I lost money, luckily nothing too serious on both ABH and DES. I got out before the bitter end. I was lucky, I spotted the BS. There was never an announcement or RNS to shareholders form either that said "Best get out now before the end" or "you need to seriously consider selling out". No, what the remaining holders got was "Oh dear, no longer viable, blah blah, administrators, blah blah, sell off, blah blah". You get the picture.

Do you seriously expect a heads up from BMR regarding the end is nigh? For AB and the board to let us know before we get scr3wed?

I am sorry to hear of your loss on BHR. Did the BoD of BHR let you know you were going to get scr3wed in advance?

I hope you get my points.

Once again, let me state that I hope all the positive posters are right and I, as well as everybody that has joined the pool are wrong about our negative intuition.

Eric, we'll have to agree to disagree. There is no way I can be positive here without absolute evidence. Lets just hope that AB is a serious player and pulls that cheap funding and actual production rabbit from the hat.

Goodnight and all the best to all here, positive or negative.

PS Eric, I very much miss your lighthearted off topic posts. :)
 
kassam83
Posts: 1,423
Off Topic
Opinion:No Opinion
Price:1.08
link from 1/4/2014
14 Dec '14
http://mric.jogmec.go.jp/public/report/2014-04/zambia_14.pdf

It's in Japanese but if anyone can translate would be good. Still shows on the table that bmr own tailings in chingola and ndola.
EricDraven
Posts: 16,456
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Opinion:No Opinion
Price:1.08
Klueloss- typo
14 Dec '14
... so that YOU can't see any daylight.....
EricDraven
Posts: 16,456
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Opinion:No Opinion
Price:1.08
Klueloss
14 Dec '14
Good post. I don't think you are asking too much, asking for clarity from the Company, as we appear to be in the exact opposite situation of where we should be. It does seem unbelievable what's occurred since ZEMA approval. We could ask ourselves why, but is there any point? Our present position seems to have all happened with a dubious dovetailing of time, with MA popping off, then oops an anomaly, followed by temporary suspension. It's certainly an eyebrow raiser. Orchestrated though, I'm not sure about that, but the sp has dropped markedly, when we could have rightly expected it to go up. Assets more valuable that expected and they want us PIs out? We can explore why until we're blue in the face, but I don't think we'll ever know if this has all been engineered or not. We are only left to deal with where we are now, as a result of events.

You have been very negative of late, and I do fully understand your reasons for this. The thing is though, not to let the whole situation get the better of you, so that your can't see any daylight whatsoever. It's difficult, but until the Company says otherwise, it's still game on. It may only look bad on the face of it, and for all we know, it could be how they want us to perceive it perhaps. I don't know, but anything other than game on and we'll all be devastated. Then we can really be negative, we'll have every reason to be, and can have a real bloody good go at it, all together.

However, it hasn't yet happened, and it hopefully won't. There is no bad news and we're still afloat Klue, so for those reasons I remain cautiously optimistic, though this does depend on further news. Perhaps if you were to adopt more of a neutral mood towards this now, it may help you better deal with our situation. I had to do that with BHR and stop kicking myself in the face over it. A fook it, rather than oh, fook me and fook you too. Lol.

All the best.
Magicgav
Posts: 13
Off Topic
Opinion:No Opinion
Price:1.08
Klueloss
14 Dec '14
Just to confirm, I didn't mean the exact cash position was known, but i think we all suspected that some kind of cash call from the company was on the horizon prior to the suspension.

I can't help wondering about the timing of the suspension either. It occurred just before we feel below nominal value. Coincidence?

I agree the suspension is unlikely to yield positive news. We are going to take a hit on something.

The DD annexed to a JV is just speculation.

May be an interested party wants in but our existing set up isn't up to scratch or the interested party needs us to expand to do business on the scale they require?

Might explain AB's appointment and MA's departure.

Plus there is the issue of MA's shares. If the situation had been engineered surely he would have got his cash out beforehand?
brynjon
Posts: 1,455
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Opinion:No Opinion
Price:1.08
For what it is worth..my opinion
14 Dec '14
on what is now known as "the group" is this.
All shareholders are within the group as us shareholders should be kept abreast of any situation which results in a massive profit or a massive loss. We are as "Huggy Dave" and his band of egotistical public school chums keep telling is "We are in this together."

As for any power from shareholders, it is always best applied using the leverage of a "group" rather than a bunch of individuals. By laffer pulling together the 10% plus of private shareholding then leverage can be applied in a well co-ordinated way IF and that is a BIG IF it is required.

So in my very humble but honest opinion - should Laffer et al decide to request some sort of update then it would be a combined and therefore powerful request. It would only take a single response rather that a few score to individuals. All the company needs to is to update the website as a going concern detailing what plant we actually have (as stated in RNS already) and a few photos etc.

That is about my lot for today. Best wishes all.
KlueLoss
Posts: 1,183
Off Topic
Opinion:No Opinion
Price:1.08
Magicgav
14 Dec '14
Was the cash position known? Did you know the company was spending £250k a month to not get into production, interesting point of view I must say.

AB, I would hope you're correct, however it would appear he wasn't fully versed on everything BMR and according to some who claim a better knowledge of the inner workings of BMR AB was recruited specifically by WH Ireland, whom I would imagine would've had a knowledge of the current company position?

I sincerely hope your point regards DD by an interested party are proved to be correct as I would hand heart stand and say that I've been incorrect with any negative assumptions I have made but your claims seem quite baseless and if it is the case the parties of interest have made their bids and are getting into the finer detail then when is the information going to be revealed to shareholders, I'm sure other companies would be shouting from the roof tops about interested parties who are actively involved and interested in the companies future progress.

The full £4.3m is unlikely to be totally written off, however the items that have lead to this revelation are not likely to yield a positive outcome now are they?
Magicgav
Posts: 13
Off Topic
Opinion:No Opinion
Price:1.08
hmm
14 Dec '14
The companies cash position was known before the suspension.

AB would have known about the cash position before he joined.

I think it's fair to say there must have been some form of future funding plan in place for a while now.

I think DD conducted off the back of a proposed JV has flagged the accounts anomaly.

i.e. missing plant or something not being fit for purpose.

I can't see that 4.2 million will simply be written off from the books although it's clear there will be some kind of impact.

It's not a great situation admittedly but i dont think it's as bad as the doom mongers are making out.
EricDraven
Posts: 16,456
Off Topic
Opinion:No Opinion
Price:1.08
West
14 Dec '14
I seem to remember that fake bomb detector story on the main news. Unreal. MA must have done the marketing!
KlueLoss
Posts: 1,183
Off Topic
Opinion:No Opinion
Price:1.08
Eric Draven
14 Dec '14
I know I come across as an epic bore with my negativity but I just think its all got the better of me.

It's all well and good accepting I've invested too much and hence its become emotional but it all just feels truly like its been orchestrated to this point. Come the new year we'll have gone from a August ZEMA approval thinking the future is bright, to realising we're in a suspension with an ever decreasing cash position and a new chairman who's history is not exactly littered with success at least IMO, by the new year we'll receive an update but it'll have taken over 8 weeks of uncertainty about what they have found, I hope that this delaying tactic is to soften the blow or secure a satisfactory market pleasing outcome from what appears to be a negative situation caused by dear leader MA.

Am I asking too much for the company to come clean and make right any misrepresentations from the past? We wait, we hope.





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