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Bird is not interested in what you have to say. Thats a fact but that doesnt mean you do nothing. You make sure he and borrelli dont carve bmr up for themselves. You do this by supporting a good deal on relisting. The fact you dont get that concernscl especially when you were looking to place on the board clueless individuals. The deal proposed by bird in chile was a bad deal. Everyone agreed with that. Its gone now we move onto another deal. You pressure bmr into getting the best deal. Im not getting into the voting proposal but borrelli has told you his side of it which contradicts everything you say. You can speak on behalf of the committee or whats the point of the bmrwatch. The bmrwatch dont care about relisting thats the truth. You probably do but cant say that on bmrwatch twitter. I cant emphasise this any stronger than im doing. If the company dont relist everything gets sold for pennys. Borrelli and bird walk away and theres nothing you can do.
So you want us to direct criticisms and concerns at Bird, but you think he’s not interested in talking with us anyway? What’s the point then? If Bird wants the Royalty he will get it, simple as that – so why did BMR propose a listing with the Royalty getting heavily diluted? Obliviously Bird can’t want the Royalty that badly if he was willing to let it get diluted. Most of your statements just contradict themselves.
BMR Watch didn’t vote the proposal of a listing down, Borrelli and Bird decided to halt things and adjourned the meeting – You wouldn’t know because you wasn’t there. Exactly 9 months later and BMR still haven’t come up with a solution for shareholders, are we supposed to believe Covid-19 is the cause of the delay? Now that is a joke.
I can’t speak on behalf of the Committee, but I think some would like to see a listing so we can get some money back, as would many shareholders. I would like to be able to sell my shares at some point too. The problem is, I really don’t believe it’s worth listing – what would the SP be? 0.5p or less? How much is your holding going to be worth if and when it gets diluted?
You have to be realistic and ask why Directors want a listing. It’s because they want to continue to take thousands of pounds a year in salaries, yet shareholders will continue to lose thousands. Who are the real winners here? Not shareholders, and yet you would rather side with Directors.
Lol. Colin bird would never engage with bmrwatch. He doesnt need to. He just loves bmrwatch doing his dirty work.
Again you fail to answer my question. If you want to relist why dont you state that fact on your twitter page. Again I believe that the majority on the committee do not want relisting. You are very naive if you think bmrwatch have not played a negative part in our failure to relist. Colin bird only wants one thing the royalty. He hasvtaken everything else. Bmr have tried to relist but this was halted by bmrwatch. Bmrwatch have been a constant thorn to relisting. The egm where bmrwatch havevtried again to remove borrelli and failed to put there own committee members on the board. Absolute joke. Ive said it numerous times bring you are the most vocal member on the committee but has no power. The quiet ones are pulling the strings. Bmr do not want to communicate with bmrwatch. You had the advantage but lost it all because you followed the committee members lust for revenge. If you want to relist can you confirm are you talking on behalf of bmrwatch or is this just your own choice.
It’s also worth noting that BMR Watch have tried to reach out to Colin Bird to establish some communication. He is always copied in on any Emails we send to BMR, and he also has my personal mobile number. Apparently he did agree to meet with us, but wanted us to travel to South Africa to meet at a mining convention. He’s welcome to call me or any Committee member of BMR Watch so we can discuss a way forward for the Company.
“As long as there is division between shareholders colin bird will do nothing and wait for our demise” – Do you really believe this is happening? BMR Watch doesn’t need to say we support anything. The role of the Directors is to create shareholder value, if they are sitting on their hands doing nothing, they are not fulfilling their fiduciary responsibilities – therefore, this would open them up for class actions against them, and would give shareholders good reason to vote Directors off the Board.
In the Company’s history, I strongly believe fiduciary responsibilities have been grossly neglected by the Board, and that’s why we are in a mess with shareholders burdened with heavy losses.
Borrelli’s recent Tweet said: “BMR is currently pursuing certain exploration opportunities with a view to establishing a re-listing.” – So I believe deals are being looked at, and Directors need to come up with a solution for shareholders, otherwise they will be held to account. Nothing BMR Watch says or does should sway their actions, because ultimately it’s their duty to serve us as shareholders of the Company. To somehow suggest the Directors are going to sit on their hands because of BMR Watch is a ridiculous statement. We will however continue to assess the situation and take appropriate action where we deem it necessary.
Merlin I agree with you. Its clear Colin Bird has been the mastermind behind bmrs downfall. Look at Kabwe not one ounce of zinc and lead produced. Borrelli had no chance. Jeremy hawk absolutely useless . Bmrwatch should on there twitter announce that they officially back relisting but they wont because they dont believe in relisting. As long as there is division between shareholders colin bird will do nothing and wait for our demise. Bring if you want to relist why dont you officially announce it to shareholders. This will be a major positive and a big message to bmr/jubilee. This will speed up any deal that bird has in mind. If you dont get behind relisting the royalty will be sold for little to nothing.
Like most here i do appreciate the work that has bern done and continues to be done. I feel like we have let this drift and we need to stand up for ourselves and we should try and get some concerted effort by us all to contact Colin Bird who appears to be the decision maker here. I know they say not to poke the bear but we are shareholders of what is left of this company. May be the BMRwatch could help us with an email template of points we would like CB to give a response and other holders here could send as well- because personally i dont have that knowkedge from the last meeting. I also intend to phone as well and we need to give this a push with trying to enguage with them.
Bmr. Good luck with that. I've never had a response to an email. Although have had slightly more success with telephone responses.
Borrelli may personally want to relist but he aint going out there making a deal. Its colin bird holding the cards in that dept. Cb needs to be pressured into a deal and a good deal. Jubilee are majority shareholder. Bird is a deal maker. Borrelli is not. Bmr watch should officially communicate to bmr that they now totally support a relisting asap. There are tailings all over zambia for grabs. There is no reason not to pick the best one. Most are free from zccm. We need to all go in the right direction. Forget the royalty. No relist the royalty is sold. Simple
If you think Borrelli is incapable of finding a deal for a listing, what makes you think it will happen? BMR Watch have not specifically stated that we don’t support a listing. We might be interested if the deal for shareholders is right. Unfortunately they are not willing to share any details with shareholders, so we are forced to go on past performance.
Personally, I’d be willing to let Borrelli propose a deal for a listing. However, if the deal appears to be poor, it will be time for Borrelli to revert back to the original plan of hiving down the Royalty, sticking the Company into a dormant state, wait for the value of Royalty to kick in, sell it for millions and return that money to shareholders.
Borrelli is incapable to find another deal to relist. While the criticism is pushed on him Colin Bird majority shareholder is rubbing his hands with glee. Direct your questions and criticism to Colin bird ( jubilee). There are heaps of opportunity in Zambia and elsewhere. We have a huge shareholding base this is attractive to him but he also see's division and will use that division for his advantage. If bmrwatch dont get behind relisting bmr will fold. Royalty will be sold for peanuts to colin bird. Thats not a threat that will be fact. We cannot let them push that final nail in the coffin. I say to bmr watch send an email to borrelli and bird and say we have changed our position and back relisting asap but the deal must be worthy. Do that and we can hold them to task. Division will be exploited and we will lose everything
I see many people post on here saying “I’ve written my investment off”. The fact is, this Company is nowhere near finished. We could liquidate our holding in GLR today and receive circa £250k. That kind of money would last several years, by which time you would expect the Kabwe project to be generating a lot of money through BMR’s 11% Royalty interest.
Shareholders need to put pressure on the Board and demand answers to questions. I’ve posted contact details below - Instead of coming on here saying you have lost your money, take 10 mins to draft an Email or pick up the phone - Ask questions and express your concerns.
If you don’t take action, the Directors will think they can get away with anything. Remember, it’s their job to create shareholder value and keep us informed. A few Tweets from BMR every 8 months is unacceptable. We need more details from the Directors, otherwise it’s time to take drastic action and remove Board members.
Has anyone tried to phone him?
I agree, individual shareholders should contact the BOD and ask for an update.
Alex Borrelli: 07747 020600 / firstname.lastname@example.org
Colin Bird: email@example.com
Tony Gardner-Hillman: firstname.lastname@example.org
Could we just contact these two and ask what is the position with BMR and are they going to honourthe Royality agreement - need some update from them!!
Could it be possible they may be some tie up / link with our Royalty , Listing Back , with the GLR adventure in Botswana ?
Galileo Resources PLC said late Thursday it has agreed to buy copper exploration assets in Botswana for GBP163,000 in shares and GBP10,082 in cash.
Galileo agreed to buy Botswana-incorporated company Crocus-Serv (Pty) Ltd from its shareholders. Crosus's assets include 21 exploration prospecting licences - 19 in the Kalahari Copper Belt and 2 in the Limpopo Mobile Belt in western and north eastern Botswana, respectively
The AIM-listed company said the heads of terms are conditional on its due diligence on Crocus, with a 30-day exclusivity period in order to do this.
The 38.8 million Galileo consideration shares will be issued at 0.42 pence. Galileo share closed up 6.3% on Thursday at 0.81p.
"The Kalahari Copper Belt has been the site of recent important large copper discoveries. The licences include tenements proximal to these discoveries and the initial prognosis for further discovery is excellent," commented Chief Executive Officer Colin Bird. "Relative to the average copper grade of discoveries globally, this region has the potential to develop into a major copper supplier."
I believe it was the plan to dispose of the Kabwe assets and its licences in exchange for the Royalty. The transactions are now almost complete, subject to Zambian approvals. It means we should soon have the Royalty in place. We don’t know what the terms will be or when we will actually receive anything from it. According to previous RNS’s we were supposed to get an initial 5% Royalty payment when production at Kabwe begins, and then it goes up to the full 11% once costs for the project are recovered.
There’s now a big question mark over when the Zinc/Lead/Vanadium production will begin at Kabwe. The project has been delayed by JLP, most likely to the end of 2020 now. GLR was supposed to supply ore from Star-Zinc, again, this might be delayed to coincide with production commencing at Kabwe. It sounds like GLR plan to do some exploration work at Kash itu and they have just entered an agreement to purchase a Copper asset. All this will need money throwing at it so I expect a placing for them is likely needed in the near term.
As for BMR, I really don’t see how the Directors could justify liquidating the Co. We still have some cash in the bank and we also hold 24.6m shares in GLR which are currently worth circa £197k. I suspect these will be sold soon if we are to look for a new asset and listing. I don’t think we are going to get a decent asset, unless the Royalty is somehow used as leverage in the deal. The focus should be on returning as much value for shareholders as possible. Really they should cut all costs and keep the Co. dormant, sell GLR shares at the right time, and wait for the Royalty to start paying out. Whatever plan they have to re-list will not be worth it. We will face mass dilution and no doubt the Royalty will be diluted along with it.
It means we've been buttfxxcked for those who didn't already know
Is the final nail now being hammered in ?
We get a royalty when they eventually process the tailings, comes after a lot of costs are recovered first so nothing in the foreseeable future. Yes he effectively gave them away.
I picked all this on the RNS on Jlp too It states they have the mining rites to BMR’s tailings Did Borrelli just give them away. I cannot remember. Do we get a % of the profits ?.
Birdy really flying in Africa at the moment:
Galileo agrees conditional Heads of Terms ("Heads") to acquire 100% of Botswana- incorporated Crocus-Serv (Pty) Ltd (Crocus) (the "Acquisition")
· Crocus assets include 21 exploration prospecting licences (PLs) totalling 14,875 square kilometres; 19 PLs in the in the Kalahari Copper Belt (KCB) and 2 PLs in the Limpopo Mobile Belt (LMB) in western and north eastern Botswana respectively
Colin Bird bringing BZT into copper mining in Zambia, he's a finger in a few pies in the county including GLR and JLP (and BMR) maybe he can salvage something here for shareholders - not holding my breath though.
The wording of the last paragraph is strange. It give s me the impression that all is not sweetness and light between LC and CB.