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BMR - Sidebar seems to post a lot more sense than you do. He would be an asset to your watch group.
Danlaur, Sidebar doesn't own any shares in BMR, or JLP for that matter... Go figure!
Sidebar, if you have no interest in BMR and your concerns are purely over Kabwe, I would take those concerns over to JLP. It's not our project anymore, it's theirs, and we will just receive a profit share or Royalty payments. Instead of coming on here pointing out the obvious, leave us investors to sort our own problems out.
Sidebar...
You seem to have an angle and vision on what the future holds for BMR ?
Perhaps BMR Watch could benefit from having your support ?
Have you registered your interest - helped pool your shares like many others ?
Thank you
I can't see any point in JLP buying BMR. It's an expensive process to go through, given the thousands of small shareholders, for little upside. And JLP end up owning a company of questionable history. And JLP won't want thousands of additional shareholders to administer.
BMR only becomes worth anything if Kabwe is big, and JLP effectively already benefit from 92.5% of Kabwe (plus the return on their capital and their processing contract).
There is no chance of AB doing anything with SZ or Ester. He doesn't know how to. Nor does he have the development capital. He will just tread water hoping that royalties start to arrive.
Shareholders need to realise that they have effectively bought an annuity. Sadly, one that may or may not pay out, and one that has higher than average management fees.
I see no reason for good management to get involved with BMR. There are far better platforms out there. I see no reason for anyone to buy BMR, it has nothing much of value (there is no ability to control anything at Kabwe, so there is nothing for anyone to do).
I also don't see why any exchange would admit BMR. Why would anyone invest in the company? AB's track record is poor, BMR's track record is worse. What does it even need money for other than to keep it afloat. That's not a reason that companies should be admitted to the stock market.
BMR is now established for the long-term as a private company. BMRWatch should focus on getting answers and getting the cost base down to almost zero. Give up on any pretensions that allowing AB to invest in SZ or Ester or anything else would be anything other than a waste of their capital.
Obviously the below valuation doesn't include our potential profit share from Kabwe and Star-Zinc, but we don't really know how far away they are, and how much they'll be worth.
Looking at it from another point of view, if JLP did buy BMR they would then have 100% of the Kabwe profits, and get their circa 65m shares back, which could be sold off at a higher price at some point in the future. Would JLP shareholders be in favour of this I wonder? It could be worth millions to them in the long run.
In my opinion we could probably grow our MC by multiples if the company is run in the right way. Remaining independent could be better over time. I just don't see Borrelli being the man that can get us to that point.
Effectively that would mean they are paying about £5m for BMR. They would get their own JLP shares back, which they would probably place in treasury, and look to buy back or sell them at some point.
Is BMR currently worth £5m for 15% Star-Zinc, 80% Ester, and the Large Scale Mining Licence in Kabwe? Maybe not...But if EPL own the licences to Kabwe etc. that could be worth quite a bit.
My thoughts are that Leon doesn't really care about BMR, the project lives on with or without us. To him it's just a bonus for JLP if we re-list and actually become worth a decent amount. A large placing will be required to get us listed again, what will it require to actually fund the projects we have?
With jlp would still be a pretty good deal for them I think
JLP won't buy us out, they got what they wanted. Borrelli handed it over, in the interest of shareholders of course...
I would welcome that but I don't think Borrelli has finished shafting shareholders just yet.
Maybe the best way to go forward with this is to exchange our shares for JLP shares….at least that would enable us to trade and stop worrying about which cockup Borreli will instigate next…..and that would hopefully remove our clown CEO from control. Probably we would get shafted again but at least that should be the last time!
Maybe he meant the new shareholders JLP? He has certainly created value for them gifting them an asset we paid in excess of £6m for.
great salesman
https://www.youtube.com/watch?v=OTiBpRWkhYE&t=254s
3.2 mins in "at the end of the day it's about creating value for shareholders.."
So this presumably means that we do not have any further operating costs?Or are we still employing Steph to look at the Ka****u Zinc deposit on the LSML? Have Geoff Casson and the Plant lack of construction Manager been moved on? Are our Zambian directors of EPL now working with JLP along with any other employees. Has our commitment to Blue Square been formally ended?
This surely gives AB time to chase the Hyenas from the past, ACI and himself for fraudulent practices. He can’t say he unknowingly used BMR funds to engineer this. Why didn’t they all come clean and execute this deal on reinstatement of the mining licence. If it was that unpalatable or unsavoury they would have better sold it while suspended, at least it wouldn’t smell of corruption like it now does. This is AIM so tolerate it and expect it. But that just plays to the corrupt market. Well, all I can say is that the odious odour now hangs over JLP as they have gifted 4% of their shares and £500k to BMR for a 29% stake in what? Or is it to keep the gravy flowing for the BMR board and thee Non-Execs?
And we live in a fair and tolerant society with the rule of law upheld. We want to bring back control? If this is a taste of that then 2019 holds a lot more, Power to the Takers and Silence to the Givers.
That everything was done deliberately without any shareholder contact let alone approval. Shareholders of any company which has AB on its board now or in the future should run for the hills.
Surely there are grounds for a legal challenge, if the sole reason for dropping out of AIM was to circumvent shareholders. Is BMR watch getting legal counsel?
What on earth can they do from here - They have had 10 yrs to get this Strategy right ? Whats happened to all the money which has been pumped in ? More answers required ?
How quicky will they find alternative platform ?
The Directors will now re-set BMR’s strategy as it continues its path as a junior mining company, supported by its interests in Kabwe (as above) without any obligations to fund the plant going forward, the Large-Scale Mining Licence, Star Zinc and the Ester project in Portugal.
Alongside that, with the full support of Jubilee as the largest holder of the Company’s shares, the Directors have already begun reviewing alternative trading platforms for the Company’s shares.
re "There will be, sadly, no return for BMR shareholders for many years to come, if at all."
With one exception - shareholder Ponzirelli will make lots of money over the years from salary and bonuses for the wonderful job he is doing.
As expected, smoking mirrors, staged events and not a hint of an apology or regret for having sold us down the river to save his own skin. Don't know how the shyster can sleep at night. Must be a very cold hearted fish.
Exactly the sort of inane response one would expect from a failed CEO who will attempt to deflect all blame from himself. This is weak beyond imagination. Many shareholders including myself expressed deep concern about his ability as a CEO for well over a year so this comes as no surprise yet it remains painful. There will be, sadly, no return for BMR shareholders for many years to come, if at all. I appreciate that some will pursue AB to help ease the pain of loss which is their prerogative but will know deep down that it is highly unlikely that anything will come of it. There are countless examples of spurious transactions and deals on AIM driven by incompetent or bent CEO's and shareholders will huff and puff but in the end it will come to nothing. They know that the regulators are ineffective in the extreme. So, my advice to shareholders like myself is to move on, look for other opportunities with companies led by CEO's who have a good track record, communicate clearly and regularly with shareholders, are respected by the investment community and therefore can raise finance and are heavily invested in the company unlike AB. This is my worst investment decision since I bought my first share in the early 1980's but will not waste my time and energy pursuing a lost cause. Spend your time if you can looking for opportunities to recover the losses here. AB will carry on taking money from shareholders and won't give BMR or its shareholders a second thought.
BMR - Not happy AT ALL , just goes to show it was all pushed through very quickly - we shareholders never stood chance to challenge th BOD .
Really important BMR Watch Group continues to press ahead .
Also, no details whatsoever surrounding the JLP deal, like for example their right to buy EPL. What's the potential financial gain for us? Is there a financial gain to be had? Looks like we'll be kept in the dark as per usual, utter disgrace!
4 pages long and it doesn't really tell us anything we didn't already know. Although it confirms the de-listing was staged so he could dispose of Kabwe without shareholder consent.
This is all we have left to go at: "the Large-Scale Mining Licence, Star Zinc and the Ester project in Portugal". Given that AB failed to raise funds for our share of the Kabwe project, do we really trust this guy not to completely mess up what little we have left? How does he propose we re-list when we have no money? We need to get back on AIM, otherwise trading conditions for our shares will be poor to say the least!
http://bmrplc.com/announcements/20082018%20Post-delisting%20announcement.pdf
The next news will probably start with...… " BMR are delighted to announce"...…..and then destroy the last bit of hope we had! What a SHOCKING series of incompetence! The metal is laying on the ground at Kabwe and the locals have been digging it up and sticking it in a bucket then selling it! After 10 year sand countless fundraising all we have managed to do is give away 91% of the profits....and pay Jubilee for shafting us!
Re Tweet. Don't suppose for one minute we can expect a scintilla of contritional Mea Culpa in next update. Nah what was I thinking?