Bryn Most of ref. to Ascot on BMR website is deleted, I do not mean RNS material. Ascot have links on their website,which used to link to BMR website,now shows error message say not available or similar words.
Have you any info, on if any reports were issued by Metanza & Mintek, I believe they were doing testing on the leach plant tailings, can you ask BMR RW if they received any reports from Metanza & Mintek.
Assaying All samples extracted by drilling are being sent to the SGS assaying centre in South Africa for verification. The final resource statement will thereafter be compiled by The Mineral Corporation and the Pre-Feasibility Study on the beneficiation plant will be concluded by Metanza.
23 November 2011
Processing and Production
The Phase One high grade washplant slimes section of the stockpiles is capable of immediate sale to processors. BMR has already received detailed off-take tenders for this material which can be lifted and exported at a rate of 5,400 tons per month, commencing in September 2010.
Leading South African metals processing company Metanza and international consultants Mintek have been instructed to prepare verification mineralogical and metallurgical testwork to estimate the recovery of zinc and lead from the Phase Two resources. Detailed testwork was first conducted by the Zambian State mining company ZCCM in 1988.
Metanza will then proceed to specify the flotation process best suited to maximise recoveries of the leach residues and estimate capital and operating costs for the establishment of a processing plant. It is currently estimated that, processing at a rate of 60,000 tons per month the plant will have an 11-year mine life producing a standard 55% zinc concentrate.
I have said before - as a united front it would mean the officials need only answer a single source which has the powerful backing of more than 10% of shareholdings. The easiest and probably cheapest way is to do as they have already suggested they will do by communicating information via the website as in the E-COMMS link in an earlier post.
To be fair, I am not sure who updates the website so not sure whether it is full time staff member or a part time/ad-hoc worker.
All I have requested is that they delete any misinformation and leave what is correct on the site. I know LJC used to be able to compare and check changes to websites so if anything happens I am sure he will be kind enough to share.
As for the content of RNS - they cannot alter that - they would need to issue an amended RNS I believe.
Brynjon Laffer LK Fsstback any pi, please take the chance to seek confirmation.
Pi could pool their holding & as a group request the BOD give fundamental information on assets via RNS, website or meeting, any form that gives all shareholders the information & available at the same time & causes least distraction to BMR. The thoughts that should make that possible, 1, We are suspended,not market timing sensitive. 2, investigation is ongoing?, as long as release has no negative impact on investigation or or any possible action that may be pending. 3, BOD give reasons why it cannot be done, we will some knowledge to see if,reasonable & a anchor point. 4, BOD are not cooperative & not willing to hold dialogue thus avoid accountability. I hope BOD are open to dialogue & not number 4, if number 4 is the outcome...then we have to fight for protection.
PI will need to provide proof of holding,can it be sent directly to BMR, if & when minimum threshold is passed, a statement can be issued to BMR BOD, obo of pi group, that then allows the BOD to confirm what the pi group has agreed to request. This format may remove any concern some pi may have about handing information or power to other pi. This could be done by pi emailing BMR watch,their holding & name plus emailing BMR IR . The information can be correlated & we then wait to see if minimum threshold is passed. That format should allow BMR BOD not be distracted,investor relations or nomad could confirm holding details are factual & update when threshold has been reached. No control sought or given, all we need is consensus & agreement from pi on wording of request. Lets see what response we get before any contact is made with BMR BOD, to find their view.
Laffer, any thoughts, I do not want to start making assumptions & yesterday I checked with my broker H&L, they are able to supply proof of holding, no charge,I will action request when ever it is required.
The real question is can BMR process the WPS and the other tailings profitably. The former does not appear to be a problem. I , for whats it's worth have asked several officers in the company about the latter and have received positive answers. Many will be cynical of this but we are no longer dealing with MA but a far more hard nosed management. If the company was to wound up I think it would have been done by now.
kassam - I had just this morning sent an email to the company to ask whether the detail within the website was still valid and to use the time in suspension to make any necessary amendments to it.
Whether anything occurs remains to be seen, however, for me - if it is still there surely it remains valid. They amended the directors and management pages quickly enough so it seems it would be easy enough to delete anything which may be misleading.
KL - Not sure how much was paid out to Ascot or whether they did their work in lieu of profits from the processing. I do find it sad that at the time when Metorex were selling out of Kabwe BMR were pushed aside from obtaining the Zn/Pb plant, only for it to have a change of use. Perhaps a bully boy tactic, knowing full well that the issue in Kabwe was pollution caused by the Zn/Pb tailings. So Glencore squeeze out the possibility for BMR to immediately process its tailing assets and of course now, they have almost abandoned the site again using bully boy tactics.
Hopefully management can get a hold on the present situation and even if it means selling out some of the assets at less than market value to bolster the coffers then so be it.
Shareholders have (or should I say some) been waiting far too long for this to pop. It has taken a few people out financially along the way. It is time we were either put out of our misery or fill our pockets. I am a glass half full.
What i think might be a good idea is to ask AB straight if the RNS issued were all correct and true and if all the infomration on the website is still correct and true. This should atleast give us the idea that BMR will still be a going concern.
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