The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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It would be good to finally shake the Bozmonkey off our back and hold shares in a proper company, albeit the one that wangled Kabwe out of our hands for next to nowt in the first place.
I don’t think that will happen. Good deal for us, bad deal for Jlp.
Bring re 09.38. Sounds fantastic. And with 300k worthless pieces of paper, why wouldn't I vote for it?
Only trouble is it will never happen because that could be seen to be acting in LTH's best interests and that is just not in Borrelli's psyche (AIMHO based on experiences to date of course)
BringMyReward I like this option and i would vote yes to shares in JLP. Thks .
In addition to the below, it’s worth noting that we could still have a listing as BMR shareholders. AB seems confident that we can raise money for the Copper project in Chile, without the value of the Royalty being in the Company.
Also, in my calculations below, I forgot to include that JLP already owns 29.01% of BMR, so dilution for JLP would be even less, if they issued shares in exchange for the Royalty.
Yes, it seems a few have lost interest… It only makes it easier for these so called Directors to get away with the things they do. JLP is ticking away nicely, whilst we are still left in limbo, not knowing what the final outcome will be…
We own 12.5% of the Kabwe Project, we own EPL, which owns EML, which owns the mining licence and tailings… So, are we due 12.5% of generated earnings from Sable? It seems not. Apparently we don’t know if we only get earnings generated from the Kabwe tailings, or everything that is processed through the Sable plant.
The fact that JLP are using the Kabwe mining licence to produce Copper, Sulphuric Acid, and whatever else they are currently producing. And the fact that the Royalty is yet to be activated, tells me that we should be receiving 12.5% of current generated earnings. JLP’s financials are due out within the next couple of weeks, so I would expect an update on the Royalty situation shortly before or after.
I’d like to see one of two things happen before the next General Meeting;
1) JLP acquires 100% of EML, the 11% Royalty is put in place and we get full clarification of what that 11% entitles us to. Strong preference will be 11% of generated earnings from all production at Sable. Shareholder actions should be taken if this is not the case.
2) JLP offers BMR shareholders (at least) one share in JLP for every two BMR shares held, in exchange for cancellation of the Royalty agreement, and 100% ownership of the licence and tailings goes to JLP. On a 1 for 2 basis, JLP would have to issue 167.8m shares, currently worth £7.3m which is £3m less than the Royalty is valued at in the recent BMR accounts. This would only be 9% dilution to JLP and would secure an extra 11% of earnings from the project, which is worth tens of millions over two decades. A small price to pay for them, and BMR shareholders would be left holding shares in a listed Company, with Kabwe in production, as it should have been.
Has the weasel finally ground us down into abject apathy? JLP seem to be doing well lately, any royalty crumbs for us on the horizon?
Leon makes reference to Kabwe earnings would dwarf current on earnings which JLP me make .
https://www.share-talk.com/interview-leon-coetzer-ceo-jubilee-metals-group-lonjlp/?utm_source=twitter&utm_medium&utm_campaign
Good post Fireball. I'd love to see the back of the little tit. He's been like a slow poison crippling our Company right from the beginning.
I think news on the Royalty is pretty close now... Let's see what the terms are like and then decide what we want to do from there.
Hi XL5
Sounds like a plan. Let's do it. Now. Hang on. How the FCUK do we go about it?
Nice thought though. Wouldn't trust him as far as I can pee and these days that's not very far.
How many times over the years has he sworn he only acts in the best interests of shareholders then done the opposite.?
Cheers 3card
Until we have knowledge of the Royalty agreement what do we know. If Borrelli dilutes us to kingdom come and the holders of the placement reap the reward of the royalties as their carrot. Does he sell them on to raise additional finance? You cannot trust anything that man says, it’s all for an audience at the time. He and the rest of the board will make sure they are well recompensed. We should fire him, mothball the company and receive the royalties and then bring in someone capable of running an AIM outfit for the benefit of its shareholders.
Changes to the LOI... I wonder what that could mean...
We probably won't list until early next year now and I think the value of the listed Company will be quite low, possibly somewhere between 0.2p to 0.5p (half a penny max). However, even if the SP hit 4p to 5p after listing, I won't be selling a single share. It might be a case of wait for a sensible offer to come in for the Royalty. Even if it takes 2-3 years it will be worth the wait, but you never know, offers might come sooner to tempt you to sell...
As far as JLP making an offer to buy out the royalty bring, what would stop Knacker Ned from accepting a deal which he would deem suitable to pay himself a decent dividend and leave the long term sufferers with nowt? I really cannot state what I think of him at this stage.
Whilst I have lost what to me was a decent lump of money, I recall folk under the old regime of MA investing their homes into this, with the belief that we had multiple $billions of assets of copper and not forgetting the REM, just sat waiting to be processed in what was described as an easy process. Broken hearts, marriages and I would not be surprised lives lost at the hands of shysters claiming to be doing their utmost for the shareholders. MA would wine and dine shareholders at post AGM events which would build up the story nicely. KN comes in and tells us about the misgivings of a demented old man and does a lot worse.
So whether we will get to see an AGM is another tale. Sadly my rage towards him would probably prevent me from attending as at my stage of life I do not wish to transgress the laws of the land.
I'm going to have to go for another coffee!! Stay safe all.
Apologies for my absence from the boards but life does get in the way to try and block out my misery with BMR and they way I have allowed myself over the last 10 or more years to not once, but numerous times be buggered by shysters here.
That said I have been in profit a number of times throughout my time here and never pressed the sell button so it is all down to me and my odd belief that I would have a massive nest egg to leave to my daughters and grandkids. My bad so sorry kids. (:@( )
Instead I am now turning a corner and will look at life through a different lens and see where we can get with JLP and the possibility of turning the alleged royalty from a 7urd into a gem.
Onwards and upwards we used to cry. Take care and stay safe all.
oops wrong board
https://docs.google.com/forms/d/e/1FAIpQLSf9o5viCL8Fl7M8WOKMaghjcZ-eS9fC2wF5mOmtVpVBHBQPEw/viewform
Cheers Scottie. No date yet, I assume it will be in October. Bearing in mind that they need to pass resolutions in order to get a listing by the end of December to satisfy the deal with Revelo. That's if it's still going ahead of course. What's to say JLP don't decide to make BMR an offer for the Royalty? It needs to be the right type of offer though, otherwise it will get rejected.
Yeah I still talk to Laffer occasionally. He's taken a backseat from BMR Watch. Can't blame him really, this whole situation has been a nightmare for us.
Do we have a date yet? Sounds a lot of sense Bring! Just wish they would get a move on!
Are you in touch with Lafferty these days? Regards
Always the famous phone conversation posts...many people were troubled by the months of drip drip back door reassurance. Expensive outcome.
Lol if you say so. I was in the room when Colin Bird was on the phone offering a deal sweetener to BMR shareholders, and there were at least two others that post on here also present.
I won't tell you what he offered because it wasn't even viable. Better try harder, Mr. Bird!
Totally deluded, never mind the wishful thinking.
It works both ways really. If JLP hadn't got involved when they did, the licence would have been lost to another Company. There were a few parties lined up with their hands open. JLP have the Kabwe project, but we still have EML which owns the land and tailings. Also, AB negotiated an 11% Royalty, but the terms of this have yet to be negotiated. I don't see why it can't include everything that is processed at Sable, we would expect the same if the processing plant was built onsite at Kabwe, in fact they might have built units already, or are planning to.
We were told that the Royalty would be hived down for current shareholders. If this doesn't happen then JLP had better sweeten the deal if they expect shareholders to vote the proposals through.
Demise might be a strong word. The Company might be in a poor position but it's certainly not dead. We at least have the Royalty which is valuable given time. You can't take that away from us, unless JLP are willing to dig very deep into their pockets.