The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Cardo, aye, I doubt we will ever see anything back from the so-called royalty. Not exactly rolling with news here now either.
nick0212,
Read page 28 of the Kendrick Resources Prospectus (available on the Kendrick web site), paragraph commencing "Jubilee".
No timescales, value written down to nil!
What I expect is that the Royalty will be quietly forgotten or someone will find a clause which makes it all go away!
My views. E&OE
No, looks like he’s incompetent at best. Considering BMR’s delisting from AIM debacle. Yet, he’ll be ok, I’m sure, even if we aren’t.
All hinged on Jubilee getting things producing if not the royalty is as good as dead, I’m waiting for under 1p then I’ll reluctantly drip in I just don’t trust Borrelli ??
Slow on the uptake, but as per Dec year end accounts:
"Royalty arrangement and the Kabwe plant
Kendrick has a royalty over 11% of net earnings generated by the Kabwe plant. The generation of
revenues at the Kabwe plant is subject to the timely construction, and successful operation, of the
plant by Jubilee Metals Group PLC.
At least the royalty hasn't conveniently disappeared into the ether - unlike most of our money!
Good luck whatever you decide.
Thanks for the reply Cardo.
11% is a sizeable amount and can only be a question of when imo. Something to keep an eye on. There must have been a contract drawn-up to this effect keeping this arrangement in good standing.
Coyote2020,
From my post dated 17th May:
Any mention of the Royalty says nothing for the foreseeable future (see page 28 of the Kendrick Prospectus) and value written down to nil!
From Gloster post dated 20th May:
New assets are Pursuit Minerals old assets which include high grade vanadium in Europe. So new shareholders buying into the new story don’t care about you legacy holders with £20 holdings prattling on about royalties and how you’re too thick to play AIM stocks.
Take your pick!
You could always go onto the Jubilee page and ask the question there!
My view continues to be that Kendrick and Jubilee management want to forget about the Royalty and would be very pleased if we, ex BMR shareholders, did the same.
Not wishing to throw the spanner in the works here but as a potential new investor, I am very interested in the legacy asset/11% Royalty on zinc tailings at Kabwe.
The Prospectus refers to Dec'19, 2 1/2 years ago. The tailings remain on-site to be processed at some point, the complexities must be known as the plant used to be called Sable Zinc so the 11% proceeds would be a steady earner.
Anyone say, with holdings in Jubilee, can update update as to JLP intentions.
Many thanks.
Sounds about right Mat.
BorScamRelli still has a nice gaff in Chiswick.
Especially those that dilute the shares to raise capital, then consolidate the shares and give our only resource away for free!
ooh techy, I think I touched a nerve!!!!
So when Bird gets interviewed (I use the term loosely) by Zak on one of his many companies, that company pays Zak for the "opportunity". Any idea how much is spent, from shareholder funds (your words), on these podcasts/interviews?
Try to understand the reason we, BMR shareholders, are less than happy is that the two blokes that destroyed our investments are now directors of Kendrick. Read other posts and you will see, if you want to, just how much some investors have lost. Any investor knows that they can lose money, that's the name of the game, but there should be some accountability by those who were in charge at that time.
What a 30 IQ comment. Buckingham Palace is free to look at but it’s your taxes that maintain its upkeep.
How’s it free when shareholder funds are used to pay these PR outlets? Google is “free” but they make money off you as you’re the product. New assets are Pursuit Minerals old assets which include high grade vanadium in Europe. So new shareholders buying into the new story don’t care about you legacy holders with £20 holdings prattling on about royalties and how you’re too thick to play AIM stocks.
1) Agreements were made, they have now been broken apparently. Why would you trust the people who made those agreements? Conflict of interest, Bird was in BMR and Jubilee, who benefited? Crass statement Gloster.
2) Listen to the Bird/Zak podcast today on GLR. Zak spoke 5 times, total time probably less than 2 minutes, not exactly searching questions. Bird spoke for in excess of 8 minutes. I listened for free same as any one else can. FREE PR. Get real.
Of course it's relevant, if the same a-holes are on the BoD.
Focus is on the Scandi assets. New shareholders don’t give a toss about the legacy issues. Not relevant now.
Jubilee had 29% share holding in BMR.
Same number of shares in Kendrick is worth 0.8% holding.
Don’t see it as a priority for Kendrick, that is why they are content to forget about it and they hope we do as well!
Sounds about right. Let's make sure the shareholders never forget. As the least Jubilee can do is buy the royalty off us (I'm a Jubilee shareholder who has made more in profits from Jubilee than I have losses in BMR, but it still takes the piass!)
Any mention of the Royalty says nothing for the foreseeable future (see page 28 of the Kendrick Prospectus) and value written down to nil!
Says it all really.
But don't worry, the guy in charge of BMR at that time, Borelli, is now a non-ex director of Kendrick Resources and I'm also sure Colin Bird was involved as well and he, as you know, is exec chair of Kendrick Resources.
Forget about the Royalty, they most certainly have!
Any idea what happened to the royalty from Jubilee when we gave them all of our BMR assets? Presumably the then holders lose all proportionate rights to those -- I guess that's the best case. The worst case is the royalty conveniently gets forgotten about. I propose we don't forget and routinely mention it on this discussion board until our wonderful masters have the decency to update us all...
Apologies if I have missed any recent comms concerning this, but fairly sure I'm right re. the above