Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
Are you taking the pi55? It stinks.
We were told JLP worked with BMR on securing the reinstatement of the licence.. Surely they would have been aware of Blue Square's involvement in the process
Klueloss, my post wasn't aimed at your post. I'm fully aware of what's happened in the past, it's been posted many times by yourself and others. I was referring to all the posts saying we're going to go bust and JLP will walk etc. Believe me, I'm just as disgusted as everyone else here with this latest swindle.
Barno - I don't and to be honest those hold the bulk of shares now know exactly what is taking place and the other majority of pi's who don't know are either desperate or will either be supportive no matter what happens or will remain silent enabling AB to continue to lie. (CB, AB, JLP, Peterhouse and Tiger Resources hold just under or around 40%) BringMyReward - the 10 points are made aren't doom and gloom they are what has happend and is happening. We are on the hook for another $960k that needs paying and that is before JLP announce their projected costs will need actuals working capital given we're 6 months on and have made no real progress I'm guessing another $400k gone missing on working capital. I don't think I was alone in seeing the shares in JLP as potential tour to help with future working capital and or help towards our share of plant costs. Have to admit I'm left open mouthed by the continual ability of some to just see what is absolutely shocking news and wipe their mouths and come out swinging with the old 'all for the greater good' nonsense.
Just read the JLP RNS from yesterday, regarding our ditching of shares to pay Blue Square. Notably, Blue Square isn't mentioned, but the word "creditors" is. Furthermore, Borrelli has not informed us that Blue Square are our creditors. He should have. As usual, he has tried to soften the blow. We should be informed as to the specifics of what Blue Square has done for us exactly, and how in fact a third party can or should even have any affect on the conditions surrounding a licence reinstatement. Surely this is almost FCA territory now isn't it? Only my thoughts, but again, we have not received a proper explanation from Borrelli, the full picture, only that we again have a very high cost to pay for what appears to be very short-term work from Blue Square. Whatever that work is. The FCA should be looking at this. In my view.
I don't get all this doom and gloom. We're having to pay $800k bribe, I mean service money, paying in JLP shares. JLP have said they are ok with this and I would imagine they are fully aware what the payment is for, even though they will probably deny all knowledge. So no, JLP will not walk away from the deal, and I'm pretty sure we will get the placing away as planned. Don't listen to Mike and his rubbish. I'm trying to contact Alex, should hopefully get some answers today.
IMO Assets are diminishing almost like stripping one may say
Fair point. BringMyReward speaks to him abit so just curious as what he has to say. As in Alex not you BringMyReward.
Andy......yep it looks like Borrelli's work is nearly done. Is there any point calling him? You would only get more BS anyway.
Has anyone tried to call Alex since yesterday’s Rns??
For the first time in years, I actully feel we’re all fuc*ed and BMR won’t last much longer. I really hope I’m wrong but nothing looks good atm.
Any ideas how to stop him?
What has Alex Borrelli done for us as shareholders? 1. Saved the company from the original charlatan Masoud Alikhani. 2. Tripled the shares in issue by placing shares at the all time lows in the last 3 years raising small amounts of money to squander. 3. Signed away at minimum 40% of any future profits at Kabwe in exchange for JLP to construct the plant whilst also paying them interest in the money they spend to get us to production. 4. Diverted much needed capital on Ester. 5. Paid over the odds for a much smaller % of Star Zinc when we are desperate when SZ should've just been ditched given we aren't in position to extract any value there right now what was the point? 6. Given away a good chunk of our shareholding in JLP at their lows in order to satisfy a company whom shareholders have never heard of nor do they know what service if any they have provided. (BlueSquareEnvelopesLtd.) 7. Bid for MTR. 8. At the AGM Borrelli and the co. lawyer said in negotiations with JLP 'Clear RED LINES' were in place to achieve the agreed terms with JLP. I'm guessing rubbing those red lines hard enough revealed it was all a veneer with grey the true colour underneath hence lock-in periods been vetoed. The shares shareholders may have thought would be use to raise working capital or out share of any excess money on top of the �2.3m to be spent on the plant. 9. Had the license removed. 10. Awarded himself a salary increase for the success story above. What's not to like? Just feels like a total stitch up job with all value now being manoeuvred out of the reach of us pesky shareholders who it would seem are going to happily let him get away with it.
Considering the amount of money involved was there a formal tendering process instigated - sight of documents please as a shareholder request- or was it decided over a pie and a pint?
No previous mention of this spurious arrangement �800k for what exactly!!!!! Have been holding out for half my money (can't call it investing that is far too professional sounding) back but now resigned to JLP walking away and insolvency taking their place. AIM = ABSOLUTELY INSANE MADNESS
Hi FireballXL5 I haven't had a chance to look yet but I am expecting at least one plus the usual sacrificial lambs. I did come across a document that said Blue Square Minerals Limited (the UK one) had a 95% interest in Blue Square Minerals (the Zambian one).
Final note on the matter for a while as I have to do some work: Michael Lamaswala describes himself of Linkedin as CEO Blue Square Minerals Limited and Blue Square Oil and Gas Limited. As fasr as I can see on Companies House, there is no Blue Square Oil and Gas. Of more interest though is his Linkedin interests being: First Quantum Minerals - fronted by Kwalela Lamaswala There is a Jerome Lamaswala on Linkedin who seems to be an importer / exporter of diamonds. I don't know if this is the same person as mentioned earlier.
In order to catch the attention of Boz and Co when emailing the company, I suggest reading the link below. It contains instructions on how to change to the background colour to that of brown paper envelopes. I hope this helps. https://support.office.com/en-us/article/change-a-message-background-9375f510-f7e2-4180-9bab-5034e9544a9e
Are they all Directors of the Zambian entity. Haven�t had time to look, if you already have :)
I note in the 6th April RNS Alex tells us what is 'included' in the new conditions. The word includes meaning he has chosen leave out in whole of what the full conditions are - for our benefit. I can only conclude that his insistence to continue to hold back information makes him untrustworthy and I certainly don't understand why shareholders are continuing to put up with his performance. The only thing I can put it down to is total desperation.
FireballXL5 And, I forgot to mention a reference made in Twitter / Facebook that refers to a trip to Zambia so there is no doubt in my mind that this bunch are linked with Blue Square in Zambia. The full list of names found to date are: Elaine Lucilda Lamaswala, MIchael Lamaswala, MIchael Masweneyeho Lamaswala (may be same person), Daniel M Lamaswala, Jerome Lamaswala, Richard Whyte and last, but not least, the Rev / Bishop John Anthony Francis. The companies they have previously been involved with are: Blue Square Energy (struck off January 2018 - non submission of accounts) TPWC EVENTS LIMITED (struck off April 2013 due to non submission of accounts) THE CHILDREN'S COLLECTION LIMITED (listed as being in copper production. a real low tech method of extraction) Feel free to research as you will.
Just to put it into perspective, Ponzirelli has just given away at least 10% (�600k) of our already shrunken company. I say at least because according to the RNS there could be more. So what have Blue Square done to justify such a massive payment from such a small company? And if their work is not done why will we carry on paying them, in an apparently open ended one-sided deal? The whole thing stinks. Clearly there is a smell of a large brown envelope here. If that is the case, why couldn't the company just agree with the ZG that there was a need to pay a re-instatement fee for the licence? No less a bitter pill for us but much more open and honest. I'm assuming of course that the payment is in some way connected to the ZG of course.
Haha. I have expressed concerns in my previous posts predicting the potential for 'Shenanigans' and boy we didnt have to wait long. Alex Bolexelli gives away another fortune without explanation or concern. Is he giving away our funds in order to cause our company to collapse and be sold for a song. Wtf is going on. Good job writing to the company Vig. I dont expect boloxelli to reply. If he cant communicate with his investors as a whole why would he bother with 1 punter. Atb
Yes, I noticed Rosewall. To extend the irony we are in bed with a Jagged Little Pill, how Ironic. Bet the congregation are all giving it High 5�s.
Extract from the Christ Tabernacle page on Facebook (Church where the Blue Square Minerals Director is involved). "Pastor Michael Lamaswala prayed for all those who were experiencing financial difficulties." Oh the irony. Looks like our prayers were answered :-)