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3card, as far as I know there are no institutional investors in BMR, certainly nothing large. You've got JLP with 97m shares (29.01%) after that there are only 37 holdings of a million or more shares, and majority of those are individuals (including AB). Private investors own the majority of the company, so to say we don't stand a chance is not strictly true. We only need to outvote JLP, they of course will be in favour of the proposals.
Eric, just to clear things up a little, when BMR Watch last met with the BMR board in March, I was there, and we didn’t just sit there talking about the weather. So you can safely assume I know more than the average shareholder. However, as KlueLoss aptly pointed out, what we get told and what actually transpires is usually two completely different things.
It doesn’t matter what I do or don’t know, or what you do or don’t know. All you need to know is, you can’t stop the proposals that are coming “imminently”. As I said previously, you’ll have the option to vote against if it’s something you don’t like. The only thing to do at this point is wait...
All the best,
Wouldn’t be Borrelli and/or BMR if what has been stated doesn’t come to pass.
9/1/19 on BMR Twitter states ‘demerger of the Royalty into a separate company’ I genuinely won’t be the least bit be surprised if he isn’t going through with this and will no doubt dress up whatever it is he does decide as our ‘only’ alternative.
3card, good post. I agree with that, unfortunately, but the information contained within the circular could determine whether some of us look into matters further.
I would suggest.
Only my view.
Whether or not Bring has access to all sorts of inside info or not, and I believe the latter, I feel that whatever proposals that come before us will have been agreed with the more recent institutional shareholders.
They will undoubtedly vote for whatever is on the circular and the result will be pretty much like your average AGM where "all motions carried".
Our destiny long since ceased to remain in our own hands.
Right. I hope these posts are only your opinion though Bring, not factual, because all shareholders should be privy to the same information, and you are giving the impression here that you are in receipt of more information than most of us.
In my opinion.
allthatguff....... Not one word
Does anybody believe any of this? Astounding. Charade.
Eric, it won't disappear as such, it's just that the plan for it might have changed. Originally it was to be hived down into a separate company, but now it might be moved into the listed company instead.
I guess the new company will be made up of current cash, the Royalty, GLR shares, acquisition asset, and company merger?You'll see all the details in the Circular when released. If shareholders don't like the proposals, they will have the option to vote against. We will know more when full details are released, hopefully not long to wait now.
Klue, good points.
Bring, please tell us more of what you may know about the royalty now potentially disappearing.
Is it just your opinion or not?
If not, it means that he'll have handed JLP a $2 billion asset in return for almost nothing. Not representing the interests of BMR holders. I feel we must keep close tabs on this.
Death by a thousand cuts. Working from the inside against shareholders best interests slowly but surely weakening the investment case for the co. whilst taking his wages and even giving himself an increase for his efforts.
‘He hasn’t taken a wage in months’ is that the worlds smallest violin I hear? Are we somehow meant to be tricked into thinking he is shouldering the same burden as shareholders left in the dark without any knowledge of what else is transpiring, until it’s no doubt, too late. If the royalty goes I can only imagine it will be exchange for another ‘gamble’ for shareholders who have already been completely rinsed. And he plans to step aside having completely wrecked everyone’s investment.
Why should we trust someone with a personal exit strategy with the future of the direction the co. takes? Oh, I forgot AB would always uphold his fiduciary duties as he has throughout the bonfire of the last 4-5 years. Nothing like Alikhani though, apparently.
'Unfortunately'? I would say 'criminally' is more fitting...
Long time no see... I feel your frustrations, I think we all do. It's been almost 18 months since trading on AIM was suspended, and it will be 1 year in a couple of weeks since we were de-listed. I hope we have received a full update by then, outlining a clear plan for BMR's future. Shareholders deserve a way of getting some money back. We might not get as much as previously hoped, but I still believe there is quite a bit of value to be had... if things go well!
Give it a couple of weeks and we should have our update. All the best.
We are supposed to be re-listing by the end of the year, I’ve been told it’s still on track. Obviously we’ve suffered long delays for the shareholder Circular, mostly down to JLP and the delay continues…
Unfortunately we had 335,710,864 shares in issue before we were de-listed and on top of that there will be more shares in issue when we eventually re-list. It’s difficult to say what the SP will be upon re-listing, I’d be quite happy if it’s around 2p and can grow from there. Although, aim-sickness might be about right with his guess of 1-1.5p??
As for the Royalty, unfortunately (a word that can be applied a lot with BMR), I fear it will be falling through those slippery fingers…
How a man takes a company from money literally lying on the ground to this is unbelievable. Decent people have put a lot of money in to this, only for that f***ktard to mess things up. If he owned up to his mistakes and broke the radio silence that would be something, and potentially forgivable. But he cares nothing for us because he is ok. How he sleeps at night I do not know, it would take a bottle of gin for me. Rant over.
From the 2017 results - "As at 31 December 2017, the Company had in issue 238,339,566 ordinary shares and
no warrants." If that number is still accurate 1p would value us at nearly £2.4m. Bit of a drop from when I first bought in at £50m Mcap, but that's the Bozzalllikani effect for you. Did we ever ring fence our 11% (or whatev) Kabwe royalty so that doesn't also fall through Bozza's slippery fingers?
Are we even due to relist? I'm not in the SH group so not up to date with the latest events. What would 1p value the company at, I forget how many shares are in issue?
I suspect re listing will be at 1p or 1.5
Although not talking much as there is not much to say. I still follow the comments. Working class and 30k done. Let's see.
Cheers Tiger. Every little helps.
GLR holdings RNS - BMR now hold about 5.6% of Galileo in return for Star Zinc and Ka****u...
Never mind. Lol.
Come on Bozzer, let's have the circular.
The price of Vanadium isn't doing too well now... In 2017 it was $6 per lb, and a year later it was over $30. Recently it's fallen as low as $8 per lb. It's not the best time to be selling it, but hopefully it will start making a move closer to $20 by year end.
Fair point... but this news will allow the company to release a more informative update