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All LTHs look at GGP on lse and look at today’s RNS on Dtrector’s Share Options. It makes me feel sick to think what this man did to BMR and got away with it.
Coming up to three years since suspension , and what has been achieved , sod all !
Absolute joke, unless we can see V fly at someone else's expense. Bird Borrelli are the King Knuts.
Just as well its in Scandinavia, visits close to home and an appropriate resting place for the inventors of a smorgasbord of Knutery, Borrelli and Bird.
LJ. Rinse and repeat until the BMR shareholders finally have no assets whatsoever.
Why would anyone think Borrelli would have even a scintilla of competency to progress this project when he could even sift a pile of Zambian dirt over several years with millions of shareholder funds.
Anyone agreeing to this only has themself to blame when it is finally confirmed we have lost everything.
Love the way it's worded :- "Allows Pursuit to fully focus on its high priority Warrior and Gladiator Projects in Western Australia"
Read as "We are selling the crap and keeping the good bit"
If the BoD of BMR couldn't manage one project in one country, how the hell will they manage 3 in 3 countries?
Absolute jpoke. No Scandal!!
not again, don't think I can handle more bull**** RNS's in the future with promises that never materialize and directors lining their own pockets!!!
Bring. My 300k votes are already in the post. Voted against all resolutions except approvng the accounts albeit they are probably the biggest fairy tale since Peter Pan.
Like many on here, I fully believe we have lost everything thanks to that utter scoundrel Borrelli but maybe my vote with others will f××k it up a bit for him.
Is there no legal route to prove dereliction of duty to shareholders?
JLP hold 29% of shares in BMR, does anyone belive that holding will vote against any of the resolutions? Personally I doubt it. Unless we can raise in excess of 50% holders to vote against we are wasting our time if we think we can defeat the resolutions. We could be seen as turkeys voting for christmas! What is against us sitting on our hands and waiting to see what happens? What have we got to lose? We don't have to vote!
I feel like this AGM is now the final nail in the BMR coffin. If all resolutions pass, we will re-emerge a completely different beast. No Kabwe assets and an 11% Royalty, that as of yet, is not worth the paper it’s written on. The Royalty is in the tight grip of CB and JLP – they will do everything they can to ensure we never see a penny from it. Worse yet, it will no doubt be moved into the newly listed company where it will be diluted to hell, along with our shareholdings in BMR. JLP are firmly in the driving seat here, and they will do whatever suits them best where the Royalty is concerned.
So what’s left for BMR shareholders now? I guess whatever CB manages to pull out of the bag asset wise. A 500% rise in the new Co will likely mean we are still 50% below the price we were before suspension and de-listing from AIM. The company and value we had was completely destroyed by Borrelli and co.
We’re now in a position where we have no cash and very little chance of getting our original investments back. If we vote against the resolutions, BMR likely folds and JLP retains 100% of earnings from Kabwe (we get nothing) – if we vote in favour, we might get a listing and a chance to recoup some losses. However, I still believe there are no guarantees we will ever see any money from the Royalty. So, what to do…
I think BMR should fold and we all get either JLP or GLR shares. It’s going to take years and years for us to get anything back the rate we are going.
I see a couple of Colin’s dog stocks have been doing rather well lately - notably XTR which is now up around 550% in less than a month. There must be hope for us yet if/when we get a listing.
Where’s all BMR’s cash gone? We held over £1m worth of JLP shares at one point that were all sold pretty much at the bottom (thanks Borrelli). Those shares would be worth over 5 times as much today.
I see Colin Bird also started selling our GLR shares end of October around 0.8p – they are now trading around 2p, cheers Colin!
Bandit Brorrelli and his cronies should have stuck to the plan. All we wanted was the Royalty to be demerged at a low cost and JLP shares retained for the longer term – we wouldn’t have needed a listing. It would seem JLP had other plans for us though...
There it is. EML passes to JLP for an 11% Royalty. The dumps were exchanged by the Directors of the company for an 11% Royalty from the earnings of Kabwe Operations. The directors would surely not agree to the transfer of EML if interests were not being protected and that the company believed they were protecting shareholder interests to the extent that Kabwe Operations would provide a long term income equal to or greater than the value of the assets being transferred. In my book that constitutes royalties in excess of the impairment on transfer of EML.
Whatever you vote I doubt that the Directors will care much as by the Nature of things they are always in a position of exorbitant privilege
Keep voting NO means we get nothing but they will still get the Fees
Voting yes and they still get the Fees but we might at least get a Pizza and a Packet of Crisps
3card, thank you. Letter from CB on BMR web site justifying res 5 & 10, under "additional background information".
Let's face it guys, don't be under any illusion that we existing LTHs are ever likely to see any meaningful value and I have basically written off my BMR shares.
All I can do now is my bit to F%%K it up for the BoD by voting against the resolutions. At least Iv'e still got my JLP shares. It's just a shame it has taken 10 years and a meteoric rise in JLP just to get back what I invested in BMR.
Hope he chokes on a GGP gold nugget
Cardo, post recommended. Spot on
Let's face it they are nothing but a sorry bunch of charlatans when it comes to looking after the interests of existing shareholders (themselves excepted of course). And as for charlatan in chief Borrelli, one might ask just why he hangs about in this shell of a company like a bad smell.
There is no decency here which we all know and CB (AB before him) just hiding way with an AGM which makes it more easier for them to get away with their resolutions with the current covid restrictions. CB has no intention of having an investor call as that would mean facing BMR investors with their awkward questions. Nice to see JLP doing well off our backs!!
Agree, although if the Resolutions are voted down CB may just close the company down! Interesting that Res 5 would include JLP's holding of 29% of the shares. Also CB's alledged comments about the Royalty being years away; I just wonder if this is the story he is sharing with JLP? Res 4 basically says "we screwed up but give us free rein to reward ourselves (Remuneration Committee = BOD) with no performance targets/measures at all". Name change seems a pointless exercise other than try to bury the history. Where does K R Thygesen fit into this? As a non-exec he should be taking care of corporate governance, possibly a new role in BMR! BMR website way out of date and no one is answering or even looking at emails! But maybe that's AB's job!
If the proposals are rejected then the can will just get kicked down the road. (Again)
Currently the Net Assets equate to less than half the Share Capitol, so if we reject, then we probably just wait another year at which point the Capitol is further reduced by virtue of any overheads including deferred Director Fees.
Eventually they will probably say that any Royalties due will be used for said fees and we will be left with nothing if we just keep voting NO. I predict that there will never be a Palatable proposal from BMR , but I think CB should set up an Investor call prior to anyone voting so he can explain our position and the likely outcomes in Laymans Terms without which I think the Proxy will just prove to be a waste of Paper
As time goes by my hopes of benefitting from the royalty, and or relisting, and or being bought out by JLP / GLR, just to get back a few pence in the pound, wane by the day. So after giving up on this my second best option is to do as much to screw up the futures of the people that has contrived to rob us.
What is the most damaging way to use my proxy vote ? How can we publicise how we have been treated and share the story with JLP shareholders, GLR shareholders and the Zambian Mining Cadastre.
Losing everything is bad enough, but to then see the project succeed over the next 5 years really will be death by a thousand cuts.
Is there anyone in our group with the nous and tech savvy to organise a zoom call for ex shareholders pre agm to knock a few ideas around and to see what everyone is thinking. How many shareholders would like the chance to participate and share their thoughts and ideas.
They seem to have no way of relisting other than to dilute us to oblivion - effectively the same as there previous proposals
the only thing of value was suppose to be this royalty ....
Should call it Baldrick Resources if the next cunning plan is going to be anything like the last few...
Thanks. Here's a link to the Annual Report 29 December 2019 from BMR website. The royalty details are mentioned. Also, the new name change idea seems to come from the company's new address. The fookers are probably now working out of a garden shed:
http://www.bmrplc.com/documents/BMR%20Final%20Accounts%20for%20the%20Company%202019%20Clean%2023%20Dec%202020.pdf