The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Bring.
BMR will get everything AB negotiated on shareholders behalf. I'm not sure why you think that you are entitled to a share of everything that is processed at Sable?
If JLP would have nothing at Kabwe without BMR then I would suggest that BMR would have nothing either. The demise of BMR and the all but loss of Star and Kabwe is solely down to the BoD of BMR and no one else
It all looks flashy, but I can't help but think it's another BMR situation regarding Kabwe. Meaning that JLP keep on pushing back the production dates, just like BMR did. Obviously the key difference is JLP has the money to get it into production, but why the big delays all of a sudden, and why is the Zinc production figure so low?
Lots of questions surrounding the project, and most importantly, how are we going to benefit from the Royalty going forward? If we have to wait for them to start producing from the Kabwe tailings, I fear we will be waiting forever. We should really get a percentage of everything that gets processed at Sable. If it wasn't for BMR, JLP wouldn't have a licence to produce anything, and they wouldn't have the huge stockpile of tailings at Kabwe.
Wouldn’t miss it Bring. Borrelli thinks he is a law unto himself. He thinks he can lie with impunity and that he can bully and cajole holders into believing he is working for them. Be careful, he’ll pick every last bit of flesh offered.
Great new corporate presentation on JLP website today. Lots of graphs showing upward trend and, more importantly, some pictures of the Sable Zinc refinery.
Compare that to the rotting piles of random metal and concrete that BMR board has spent millions and years pretending to build at our expense. Disgusting springs to mind
The update is late, should we be surprised? I have a feeling AB has buggered off abroad. No doubt all paid for from his BMR salary. It’s nice that somebody gets to benefit financially from the Company...
Maybe we will get an update this week? Anyone planning to attend the General Meeting? It’ll probably be in October now.
Another AIM Mining company de-listed after venturing into Chile . Very Familiar story we have come costumed to !!
Hope our expected adventure doesn't end up in the gutter .
Herencia Resources Wants To Rejoin LSE Following Cancellation
Tue, 27th Aug 2019 13:46
(Alliance News) - Herencia Resources PLC on Tuesday said it will be looking to relist on the London Stock Exchange, despite having been removed.
Herencia shares were cancelled from trading on AIM on Tuesday after the firm failed to appoint a new nominated advisor. Previous nomad WH Ireland Ltd resigned on July 30, and shares have been suspended from trading since February 25.
"The company is continuing to develop its portfolio and will seek a relisting on the London Stock Exchange as a new applicant as soon as possible. A delisting is not a new obstacle, given the company will undertake to produce an admission document for the relisting as a new applicant on the LSE, engaging in a regulatory process which is essentially the same as is required for a reverse takeover," said Herencia.
"There can be no guarantee either or both proposed transactions will complete in order to achieve this. The company will update shareholders as and when it is appropriate to do so."
The plan would be to review current copper assets in Chile, and look for other copper or gold acquisitions in South America. Herencia would be recapitalised, and a new nomad would be hired ahead of a capital raise post-relisting.
3card, this is what BMR shareholders have had to endure for years. Being told something will happen and it doesn't... Apparently JLP didn't want the Royalty to be ring-fenced but have now reconsidered.
A fresh set of resolutions will be published in around 1 week, these will probably include some of the previous resolutions plus 1 or 2 new ones. I suspect there will be some sort of deal sweetener for the Royalty, but how good it will be I don't know. I do know that if it goes into the listed Company in its current state, it will not benefit current shareholders.
Just to throw another piece of information out there, I was informed that a new CEO who's based in South Africa will be joining the new listed Company... I wonder who that could be?
The point being made is that some on this board see great, albeit future, value in the royalty, and in the right hands, that may be so.
But we have a board in charge which cannot be trusted to look after the interests of the ordinary shareholders. As I have pointed out before, Borrelli , in a phone conversation with me, was adamant that the SP was in fact worth multiples of the pre-suspension SP due to the royalty agreement. And yet just months later, he wanted to dilute the hell out of us with the power to issue hundreds of millions of new shares on some random scheme totally unconnected to BMR operations but connected to him and Bird. And was prepared to put the royalty up for grabs to achieve this all based on the premise that just a few months after our conversation, the SP was in fact worth not multiples of 2p but a mere small fraction of 1p.
Now you choose whether you regard that as total ineptitude or something more nefarious. All I know is that I feel I have been lied to and shafted.
JLP now looking to reap the rewards from the Kabwe project , hanging to the Royalty is so important now .
https://youtu.be/jvhBKyH_szE
I have no confidence whatsoever that the royalty will produce any meaningful value to the existing LTHs. So much so that if anyone wants my 300k shares on which my average us over 7p, they can have them for 2p per share.
Any takers, meet me on platform 2 at Euston. I'll be wearing a pin striped suit and sporting a very dodgy barnet in deference to the shower of snake oil salesmen running this outfit. Cash only. Or maybe gold.
First Tweet: “Revelo's CEO, Tim Beale, has been visiting Revelo's Montezuma project, which is subject of an LOI with BMR Group PLC. The visit was with BMR's technical report writer - geologist James Hogg, and Revelo's consultant geologist - Mario Orrego.”
https://twitter.com/ReveloResources/status/1171110634370600962
Second Tweet: “Unusually - while we were visiting the Montezuma project - we had angry skies and some rainfall.”
https://twitter.com/ReveloResources/status/1171112364055441409
I suspect the skies feel the same way as BMR shareholders do right now! These new proposals had better be good. We’re sick of being messed about with this Royalty and we are none the wiser of how it will work and what will happen to it. Sort this mess out once and for all!
The simplest thing to do right now is to convert our BMR shares at some ratio for Jubilee shares. A lot less hassle, we are then still invested in Kabwe and Jubilee have a director who seems to know what he is doing …..and they have a fairly solid future compared to another Borelli farce somewhere in Chile! The royalty and the special shares which were touted all become irrelevant at that point. The only problem is that we shareholders are now tarnished by Borrelis incompetence and I doubt Leon Coetzer has much sympathy for us!
Well that statement completely contradicts the AGM we attended. Only resolution 1 was passed and there was no mention of any reference to polls which would have been available at the time. Just ignored again, fortunately the sub division did not happen, well not that we heard but we were not notified of any votes cast. The danger is that money is raised after the sub division at a price which could dilute existing holders to nothing. The royalties could then fall, in the main, to those parties taking up the offer. Well I don’t need to expand on that if those involved want to collect royalties over a period of 15 or so years. We must sort out the option followed by the royalty agreement.
Yes, update added to the website yesterday...
http://www.bmrplc.com/documents/BMR%20General%20Meetings%20held%20on%2023%20August%202019.pdf
According to the release on the company website all resolutions were passed.
At the Annual General Meeting held at 1:00m on Friday 23 August 2019, following the voting at the meeting on Resolution 1 and the results of the polls for Resolutions 2, 3 & 4, all the resolutions put to shareholders were duly passed.
3card, thanks, hopefully see you at the next one… The AGM resolutions (apart from adopting the accounts) will go to a poll for count of shares. The GM was adjourned so there will be another date for this, and there might be an additional resolution or two to vote on. I’m hoping we can have positive talks with BMR/JLP before the GM reconvenes.
Exactly gasman, the whole Pherfin system is fixed against the ordinary bloke. In the absence of a ceo in possession of even a hint of integrity, shareholders will always be easy to rob.
Guys - sounds like you did a great job on Friday. It is to my shame and embarrassment that I was unable to attend. My apolgies for that.
However does this now mean there will be another vote and invitation to another meeting or are they just going to count the votes that were sent in? Seems a bit unfair if they had already decided by a show of hands.
I have a relatively modest 300k shares in BMR although this represents around £22k of my hard earned so if there is a possibilty of preventing Birdorelli flushing it down the toilet, I too would be prepared to contribute to a fighting fund if required.
What is the point of sending out voting papers,and filling them in if a handful of people in the room can determine the outcome? In this instance it has played in our favour ,but 99% of the time we have been screwed
Hi Rosewall, yes I'm glad you mentioned it, thanks. We did call the Registrars and we're told the resolutions would be determined by number of shares. However, in the room it was possible to vote them through by show of hand, a bit sneaky really... I'm very happy with the outcome, it buys us more time to get things sorted.
Yes comeonvog, the dangers of train travel.
Bring
Im really pleased that the PI shareholders were heard. I dont often post anything that makes a difference but am really pleased that I raised the issue of show of hands being slipped in to circumvent the vote by shares. Al AGMs, EGMs and GMs need to be flooded with PIs so the BOD cant drive a coach and horses through the plebs. Well done all.
As i stated before i am willing to donate £100 to challenge the current BOD if we can,t get a better deal . As was always ,this is more than just making money, i invested in the hope we would improve the lives of the people in Kabwe . AB did you ever think of these people?????????????????????????????????????
A big thank you to all who attended. FireballXL5 did i meet you at the AGM 2016 , about 8 of us attended and you were slightly late on that occasion also.
We need to carefully monitor Alex’s next steps and work with him under scrutiny to ensure our interests are carefully protected. Remember, JPL do not have the tailings or the site. Alex appears a little battle weary and susceptible to Colin and JLP’s intentions may not be totally honourable. I suggest we look to maximising our current position as we have the asset and JPL have a plant, together we can tango. I would like for some of us to carefully monitor events and contracts going forward, I have a family member who might be able to look at contracts/agreements or we can designate an independent third party agreed by BMR and JPL.
We made have stopped some strong arm tactics yesterday and not allowed vultures to enjoy their supper. Yond Alex has a lean and hungry look, but he doesn’t think enough like someone BMR.
I do feel that a small number of shareholders have been grossly misled by management for whatever reason. Those should maintain their own court until we meet and discover what the next steps might be.
Apologies for being a little verbose but I’m tired of being treated as an irritation and so I believe are my drinking compatriots. BTW, the last AGM I attended someone threw themselves under a train and I missed the main part of the event. Last night someone once again decided to end their days on nearly the same stretch of track. Although not arriving home until 6am my thoughts are with that person and any family and friends