Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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And this from a man who but a few months ago was suggesting our SP would soon be hitting the dizzy heights of 80p.
Does anyone on here (other than BMR) believe a word he says?
Second JLP holdings RNS today. It confirms that BMR have been selling JLP shares. Now down to 2.3%.
Sorry to be the bearer of bad news.
Looks like Bozzer will be shopping at Harrod's for his Xmas pressies this year...
Looks like about 16M+ JLP shares have been sold.
VIG, I will leave this to you!
I believe BMR held 34m shares in Pershing. The sale was for 44m. Looks like Pershing has disappeared from JLP's shareholders list.
It's doubtful that the 44m sell was BMR, however, there were some other large sells so it's possible he could have sold the majority of our JLP shares.
I just find it incredulous that as shareholders and therefore part owners of the company we do not get any notification or say concerning the disposal of what is (was?) a sizeable asset - in proprtion to the meat left on the bones after the vultures have fattened themselves.
Another excrutiating year comes to a close - can see liquidation coming now despite hollow promises of acquisition and relisting.
Have a great Christmas all and just think of all the valued experience of investing you've gained being in the AIM
Have alook at JLP RNS 10/12/2018, 52m new shares approx.
bozzer doesnt do rns's m8
Thanks, Klueloss. I think you may be right - Borelli would deny if it wasn't true.
God, is there no end to his mismanagement? JLP's overall prospects are pretty bright at the moment, and it should have been a no brainer to wait for their share price to rerate over the next 6 months or so.
Borrelli has been asked but he neither confirmed or denied so I take by not doing the latter there is a chance he has sold.
JLP have a holdings RNS out this morning, with a new institutional shareholder taking a 3.23% share of JLP.
Does anybody know if these are the BMR shares (i.e. if Borelli has sold BMR's stake in JLP)?
Thanks for any replies!
While AB is in charge of a private company he can do what he wants and he will. He will use the time between now and relisting to sell the assets he needs to buy some old pile of shite that will keep him employed for as long as he can. While BMR watch have a much smaller share base than JLP we cannot strong arm him at all. Berating AB is pointless as he was put there by CB to do as he is told. You hv said previously that you own several million shares. Verify your shares to BMRW and voice your opinions via the shutterfly board. Othwrwise it is all pointless. I have previously said that threatening AB via emails is, but in my opinion, pointless.
Being Mr. Angry from Tumbridge Wells as an individual is a waste of time.
Historic information. Number granted 8210243 shares was well before the shiite hit the fan. They expire in 2020 and if they are taken up prior to that, I for one will be delighted, partly due to funds being injected into the company and partly because it will probably mean that the SP is above the 6p exercise price and I have got my money back.
re " because I for one will be rather annoyed"
I'd be freaking furious.
Many moons ago, with massive reserves above ground; licenses painstakingly obtained; plant photos online etc. this was exciting. You must understand that the victims of Botocelli are no more than bystanders that are too far underwater from the atrocities of the previous tief tief.
Rofert, I have seen your tactics on many boards and will be leave it there.
I would like to use this board to encourage genuine shareholders to sign up to bmr watch shutterfly. com.
I feel that LTH's of BMR shares deserve their money back. A larger BMR watch shareholder percentage would enable a voice to compete with that of JLP who is intent on absorbing all remaining parts of BMR.
That is my only plan here. If you are not a BMR shareholder and you are posting on a de listed company BB then you must have a purpose.
You are either very vindictive, very caustic or very unoccupied.
Someone posted holdings over 3%. BMr not on there. I hope he hasn’t sold the shares off cheap because I for one will be rather annoyed
A good question.
So an intelligent poster should not bother to post? Therefore, the unintelligent will keep posting ie Bring and Vig.
all existing assets will get eaten up in the next investment escapade and continued salaries. That is how it works. Dreams of ring fencing are just that.
Cheers Eric. We are supposed to be listing back on LSE through a standard listing. Bozzer plans on using existing cash plus dilution to make one or two acquisitions and bring us back to market. I think dilution could be around 50%.
I’m not really counting on the re-listed company to get my money back, it’s all about the Royalty and I’d like £25m minimum considering all the crap we’ve had to go through. I think it’s important that we do re-list though, as it should give us more shareholder protection. It’s also very important that shareholders have a say in when the Royalty gets sold and how much for, which could be a fight that takes place in 2019. Watch this space…
Hi Vig, yes I would hope that we get more than £25m for it but whoever buys it has to take on certain risks. Political change, metal price fluctuation, etc. Although I suspect metal prices will remain favourable in the coming decades as our resources on this planet are finite and they are depleting.
As for the timing of the sale, who knows? I’d like to see JLP producing as of April/May next year like they said they would. Then hang on to the Royalty for another 12-18 months, sell up and return the money to long suffering shareholders!
Good post that. Yes, I wrote this off a long time ago, due to the 51.6p average, but to lose the Kabwe project is inexcusable, and something we no longer have control over. Owning the assets and not the majority of profits is almost like robbery.
Anyway, I'd like to relist, if only to have more protection (in theory) for shareholders. RNS again, rules re shareholder voting etc, but to relist with a weak project or one years away from production, an exploration play for example, would surely mean dilution to possible oblivion, for many existing shareholders. That's why, as you've mentioned, the royalty is so important. Borrelli has to ensure that he doesn't allow JLP to buy the final percentage off us. Nothing to prevent JLP from ditching their BMR shares then either. So it is of paramount importance to keep hold of this future royalty return.
When I think about the damage Boz has incurred already, I do worry about what this new project will be, and actually just how much control we'll have over it. As shareholders. We don't even know which platform, if any, he intends to list BMR on.
Our Kabwe tailings, after all, were proven, part JORCed, potentially lucrative, we owned them and did have all the licences in place, everything for success, on a plate, yet Borrelli let it go for peanuts. So the next venture, how will that be any better than what we had already, that he managed to fook up?
We could do with some profits from JLP rolling in really, early 2019, to raise money for any relisting. Still quite a few unknowns, but I'd rather us not relist too early, if it involves mass dilution, just wait for a bit of JLP profit first. We can do without any further shares in issue.
If we do relist, a vote of no confidence in Bozzer would be appropriate. In my opinion. Special meeting and the best one ever. Lol.
Cheers Bring.
True Eric, we were also badly let down where financing was concerned, again, was it all part of the plan? Did JLP’s involvement start long before they even signed the original JV deal? They must have been sniffing around BMR, carrying out due diligence, around the time we were waiting on money from ACI... How convenient was it that ACI never came through with the money??
It’s a shame things ended up as they did, perhaps we shareholders should have took action sooner. If it wasn’t for the licence being revoked it would have kept us in a stronger negotiating position so we could have maintained the 60/40 deal. What annoys me, is the fact that we had to fork out $800k to get the licence back. Borrelli will probably say that it was worth it and the 12.5% is very valuable, but it’s just a drop in the ocean of what we should have got. Anyway, it’s all history now and unfortunately nothing can be done.
By the way, if we got £25m from a sale of the Royalty (I’d hope for more) it would equate to about 7.5p per share which could then be paid to shareholders as a special dividend. I know many here have an average SP far in excess but we are only going to get a fraction of what we should have had, we all have to accept that. The added bonus is that we will also have the same shareholding in the newly listed company. So I’m told anyway!
Hi mate. Agreed that JLP don't give a stuff about BMR. Let's face it, with Borrelli's assistance they've already fleeced us. The fleece began not when JLP became "officially" involved though, in my view, but with the total and I feel unusually intentional reliance on ACI, instead of using our assets (some of which are JORCed), to raise funds from a reputable source and in a timely manner. I don't feel shareholders and particularly Alex can hold Jeremy Hawke, a mining technician, responsible for attempting to liaise with ACI and then getting nowhere. The fact remains that our financial situation was allowed to slide further into the doldrums by Borrelli, and I now feel purposefully so, then conveniently handing us on a platter to the wolves. JLP "officially" popping up at that stage, when we were low on funds. It was all too easy for Borrelli to really do nothing and wait for carnage in the form of a bail out, rather than be a responsible leader and bin ACI when the first payment to us failed to materialise. Moreover, we then waited a good year for nothing further to materialise. To everyone, that must surely have seemed pretty bloody fishy.
Of course, Borrelli having too many other appointments has been to our absolute detriment, when he can't even manage one effectively. At least not on behalf of shareholders.
Still, we may be able to nail the little dodger on a technicality. You never know.
After Christmas though, I'm phoning Chuck Norris, just in case the Bozweasel tries to remain covertly unaccountable and able to do as he wishes, continuing to not really keep us informed, while we languish unlisted.
Bring, I'd love to be able to reverse the JLP deal, something which none of us were able to vote on, secure funding based on the assets, recall Jeremy and a Kabwe team of mining experts, fire Borrelli, followed by an investigation into his activities while representing us, then wave goodbye to JLP and the Bird. Finally, I'd find out who the fook Blue Square is, and who it was that personally received payment for helping to reinstate the licence that we should not have lost in the first place. Furthermore, what they actually did, if anything!
Notably, JLP has still done next to nothing at Kabwe, so is the licence now in danger of being withdrawn again?
I doubt it.
Ideally then, everything could and should have still been BMR's. Including all future profits.
What was the question again? Lol.
Cheers Bring.
Why would we team up with JLP? They don't care about shareholder value for BMR holders. They came for Kabwe and they got it. I believe they only took a 29% stake in BMR because 1. It would help them take control of BMR if need be, and 2. They will now benefit not only from the 12.5% Royalty that is being hived down, but also in the newly listed BMR in 2019 (but mainly for the Royalty).
JLP will no doubt be wanting to buy our Royalty for as cheaply as possible. Well, based on JLP production forcast figures, I'd say the Royalty is worth at least £5m per year in revenues for BMR. That would be £5m a year for 20-25 years, including any other ore that is introduced to the Kabwe plant from other projects like Star-Zinc etc. So they can buy the Royalty if they want but I think BMR holders would want £25m minimum for it, which would give me a very nice return based on my shareholding in BMR.
Yes, it was probably all planned out from the very moment JLP got involved with BMR but we can't prove that. However, BMR were always going to struggle getting a plant up and running, and without another company stepping in we would have lost the licence and probably all of our money along with it.
the mess here is JLP as a major shareholder. Team up with them and control is gained. Of course it does not help if all is always blabbed to "Alex" over the phone?