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3card, with hindsight GGP would have been a great buy a few months ago. But you are right, avoid anything where that man is involved. I'm puzzled as to why he's still allowed to operate as a Director of any firm. It won't be long before he starts getting sacked from his positions, starting with BMR I think!
Bmr. On a side note, I nearly invested in ggp a few months ago until I discovered Borrelli was involved. Luckily there was a 10 foot barge pole nearby
Sorry to hear that Fireball. It seems very likely there will be an AGM this year, forced or not. I still can’t believe Borrelli was telling shareholders that BMR has never been in a better position. If that were the case, we could re-list right now at a premium to where we left off. The reality is always the opposite of what Borrelli says. Because JLP have done nothing with Kabwe since getting involved, it does feel like we’ve been left in limbo whilst they sort their sh*t out.
JLP should have focused on bringing the project online ASAP (like they promised their shareholders). Instead they went and purchased Sable and began producing the Copper tailings they got with the plant. It seems like this was done deliberately, just to weaken our negotiating position. I’ve got a feeling Borrelli will be writing to shareholders shortly, informing us that JLP have offered a few quid for the Royalty, and we must accept it, otherwise we are going bust… And Borrelli says we’ve never been in a better position hahaha.
Whilst I would love to see either a cash or share offer for the royalty, I'm not sure it's likely to happen. Jlp seem to have no rush or desire to start the ball rolling on kabwe and would happily watch bmr be run into the ground and pick up the rest for a song
Been out of action for a couple of weeks, bereavement in the family.
Did look at the latest JLP cast, interesting. £6 million is the bottom line and barely covers the exploits of Alikhani in bringing all the small parts of Kabwe together. The life of the mine is some 10years + and then all the ore from Star Ka****u etc. The mine has value at price points. We should look to a one for one from JLP who saw the value in Kabwe when they bought their investment in BMR. That is the transaction that is pivotal when starting to look at value chain.
Hope to see everyone at an AGM no covid restrictions are being relaxed Borrelli and Bird won’t have the virtual excuse. We need to get hold of documents from the Kabwe Ops joint venture up to the so called royalty agreement.
Attendance at the AGM, from the last it appears Bird doesn’t appreciate conflict. GReat idea to get media involved and show these these corrupt spivs for what they are. I’m sure JLP and Leon would love a tarnished reputation as part of his grand plan to build a successful reprocessing company. Roll on the AGM so we can see the whites of the scumbags eyes.
Thank you really appreciate that and will do
Drop us an Email to bmrw.comm@gmail.com - include your name and shareholding, I can then verify your holding. You will also need to visit shutterfly: https://tinyurl.com/3lqwnx and create an account, I can then send you an invitation to join our site.
3card, I don't think there will be many liabilities. If anything it will mainly be wages, which should easily be covered by current cash, and we have a few hundred grands worth of GLR shares.
I'm fairly certain not a lot has been going on over the past 2 years - probably all part of the plan to screw us over. Imo, Borrelli has proven himself to be an incompetent buffoon, it's time he fixed this mess that he created once and for all. He doesn't get to throw in the towel, it's his job to create shareholder value. If he doesn't, he faces repercussions. Let's see how he likes it when multiple shareholders start Emailing and writing to him. He can't ignore us and we're not going away.
Bring - assuming that the royalty is sold or we receive jlp shares for it, I would want to know what liabilities Borrelli and Bird have been building up over the 2 years since we delisted. I can imagine a possible scenario where large parts disappear on wages, legal and advisor's fees, bonuses, extra shares etc leaving us with little. With no need to issue RNSs since delisting and scant info from the board, who knows what's been going on?
I appreciate the help from aim-sickenss and would encourage other shareholders to support. Any suggestions are welcome.
I’ve got a couple of other projects on the go that are going to keep me busy, one of which is a legal case (at this rate I’ll have two legal cases on my hands).
Just a few topic suggestions from me;
1. We don’t want a listing that involves heavy dilution with promises of riches by digging all over Africa for various metals - been there done that and look where we are.
2. We don’t want to sell the Royalty, unless the offer is extremely generous and all shareholders are happy to accept it.
3. We want to know the full details of the Royalty e.g. how is it structured? When do we start benefitting from it? It needs to be retained IF it is valuable over time.
4. Failing the above, we want to negotiate a deal whereby the Royalty is cancelled, and BMR shareholders received JLP shares in exchange.
Thanks again for your help and support.
It's good to see shareholders taking things into their own hands (not taking anything away from BMR watch - how do I join/add my name?) Let's not forget what the two "B's" have done to this company with the false promises -open theft!!!
I think the letter will show if nothing else that we are not going to get pushed around and to treat us with some respect. If we strike first then we are setting our stall out and not waiting for low ball offer.
How can jubilee put in a low ball offer for the royalty while owning 30% of bmr. Surely that would be unacceptable. I guess this is where colin bird thought time would be on his side. Bmr shareholders have not forgotton and not forgiven.
A fair deal. Nothing less. Threat of legal action would not be a bad idea. I expect alot of information shredding going on. Jubilee are about to insult us. Borrelli has thrown in the towel
Cheers aim-sickness. I'll try and assist where I can... I think the letter(s) should go to the new office address. Perhaps a copy could go to JLP too.
Might be a good time to remind those of you that haven't already signed up to please do so. The more people the Watch represents the louder our collective voice. Regardless of your views of the Watch that is simply a statement of common sense. BMR Watch dot shutter fly dot com.
Thats a good suggestion. Jubilee share price has risen since the news not because they are about to hand over millions but more like they have just taken another 12% of revenue for pennys. Act now
Merlin - good idea. Can I suggest someone who is more knowledgeable on bmr than myself compose said letter and post it on here such that we can all individually send it to BorrBird and co.
It feels so frustrating for BMR shareholders as we are like sitting ducks waiting for Bird/Borrelli to make their move and we have little say. Could some form of letter be sent to them to settle this for once and for all?
The Royalty deal either needs to be scrapped or renegotiated. When it was first mentioned, JLP were talking about producing all 3 metals from the Kabwe tailings. Now they have started producing Copper, and are talking about moving ore from Star-Zinc to treat at Kabwe.
How can you judge on a fair basis what the Royalty would entitle us to in terms of the 11%? The whole deal stinks, and it was probably just put in place to keep stringing us shareholders along whilst we were slowly robbed of our assets.
Now JLP are talking about ‘negotiating’ their exit from BMR. That to me says they don’t want anything to do with BMR, so will look to exit their equity position and buyout the Royalty. As a final kick in the teeth, they will probably offer a pittance and Borrelli will advise shareholders to accept it.
If that happens, Borrelli has a lot to answer for in terms of the legalities of his fiduciary duties.
How much is the Royalty worth ?
Firstly the mining sector is full of crooked Directors and Chairman. We all agree there. There very existance is to screw people over and line there own pockets. Borrelli has already planted the seeds of despair that Jubilee will buy the royalty on the cheap. I have no leverage but Bmrwatch have 20% and a voice and potential raising of funds to fight what will be a crime imo. Colin bird has promised to relist bmr but time has passed and nothing. We could of done a deal with Gallileo at Star Zinc.but that ship seems to have passed. Now the license at kabwe takes priority as the cadastre tell jubilee to move or lose. Now jubilee are faced with the royalty deal being enacted something jubilee dont want to do. The cadastre have forced there hand . Every shareholder should text borrelli and state nothing short of £6m will do.
? is seventh 1/7
£500k would be c. 0.15p in share value.
Around ? of 1p.
A million shares would be worth £1,500.
If you didn’t fight this as a shareholder you must have an ulterior motive. If you have fiduciary responsibilities for a co. then you might well be considered to be neglecting those responsibilities.
fellowship. I've sat opposite Borrelli and he told us the Royalty has a lot of value. JLP were estimating $300m EBITDA from Kabwe over 10 years.
Back then, he was talking about hiving the Royalty down and still having a listing to sit alongside the Royalty Co. He said he sees 3p-8p of value in the Co.
If the Royalty is purportedly worth in excess of $30m over its lifetime - selling it for a few hundred thousand would be a fu**ing crime!
I would love to know who you really are Stuee. Though I suspect I will never find out.