Can't say I disagree, in my uninformed opinion the company with a stand alone project of just WPS that requires $3.3m worth of funding to get it started is not exactly going to catch the markets attention.
I would be pleased if we got the copper project back on the road and stepped back from the expansion if only to stem the bleeding dry of cash, obviously that's not without its problems in itself.
How do you see us getting funding if at all?
As long as I've been in BMR they have always diluted the shares in circulation to obtain funding, I don't see that changing in the new year personally. Reading through the June 2013 report the company has reserved the right to allot relevant securities for up to £10m so although we've raised just shy of £2.9m the company still can continue to dilute the shares if they can get a funder willing to purchase a large % of shares.
It's all down to trust and many Aim directors don't give a 4x for the PI at the bottom. If the value is there in the tailing etc and the tonnage prices go upwards, you would think that there may be a future going forward. Time will tell.
Well the simple answer is I don't know a) if they can source from elsewhere b) how much it affects the feasiblity of the project We had a supply of acid and a copper concentrate processor both within shouting distance of EPL site in Kabwe. It was a match made in heaven IMO until the dispute and shutdown. Maybe SZK will start up again and I wouldn't be surprised to see our processing start up with it. But BMR won't tell you what the problems have been, will they? MA was never one to tell it like it is, was he?
KL, we don't know what is really happening, that's the bottom line for a while. As you say AB has done different things for different companies. I am ultra sceptical until I know different. I have my eyes wide open here and my observations are: August 2013 - All resources and licence acquisition completed. August 2014 - Environmental approval granted But we don't have a complete business plan. We have a DFS for WPS which only contain 14% of the metal. Why haven't BMR shown us that they know how to process the rest of the tailings? Why no partners? Feilong recommended Kiln processing for the LPT, I don't think BMR believed they could get approval for that as it pollutes. Feilong out, Ascot in - but still no process for the LPT. IMO there is an elephant in the room in the shape of 5.8m tons of tailings containing 600k tons of metal that we can't process efficiently. What other scenario fits the facts as we know them? I can't believe MA was fundamentally incompetent, I think he had a plan, bought up the tailings and somewhere down the line realized he had bought a lemon in the shape of the LPT. He that dawdled, deceived, delayed, got a copper fixation and the rest as they say is history. He got a kick in the goolies whan SZK mothballed, meaning no sulphuric acid and no copper processing. That IMO is where we are now.
As you say we are pretty powerless now and can only trust that Alex Borrelli can pull this off for all of us. His history leaves me a little uneasy to say the least but I accept that each position was for a different company with varying issues and must be judged independently and is not a blue print for his reason for being sort out to be the new chairman. Just reading his past I can't take too much confidence he will be doing the right thing by us pi's.
Fingers crossed my energy is wasted and I'll be able to mark this down to experience and we all get out of this investment with a few bruises.
Naively I thought the latest issue of equity of £1m which was obtained to expedite production at Kabwe would've sufficed us getting into Cooper production and from there we would've built on that success and become a more attractive investment. As soon as Copper was mentioned as needing substantial expansion I think that was a get out warning to all, the price has tanked ever since.
As coincidental as it may seem surely without something tangible and extremely positive we are probably going under 1p by a quite a margin, initially at least
If certain posters are to be believed MA not only had his shares in here but also lots of friends and family, it's be difficult to prove one way or another if he has sold or they have. With his size holding if he still has it I would be surprised if he didn't attend the next AGM...
Perhaps our group could be for the purpose of monitoring our states of mind, from our posts. If the monitoring sees people down in the dumps, happy pills could be administered. Conversely, people who are unusually relaxed, maybe even chipper, electro-shock therapy could be arranged, to bring those folks back down to earth. I'll leave you to be the mouthpiece though. I'll just sidle off, hopefully unnoticed.
Christ, unless it was a mini stroke, I do believe that I've just partially smiled. I've missed that recently. Lol.
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