Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The project is years away from happening. License problems remain and you guys really are best off forgetting about your investment for now. Live your life and hope to be pleasantly surprised one day.
If it is correct that we will gain 12%'ish of Kabwe profits, JLP said in their podcast :
http://webcasting.brrmedia.co.uk/broadcast/5bfc0a9dde87317597836b02
that the vandium profits (after a couple of years of staggered investments in processing) will far exceed the combined profits from the Kabwe lead and zinc combined.
I have put the same proposal on the BMR shutterfly board for discussion there.
JLP shares. Silver. Gold. Bitcoin. They all involve risk. Straight forward investment may be the way forward. Open to discussion.
Borelli would benefit from his 4M BMR shares increasing in value in an agreed manner.
The main objective of the strategy I have put forward is to stop Borelli et al from continuing to gain a salary and access to BMR monies having let the company go for next to nothing and hiving off £400k of assets for no result. He should be dismissed. The strategy also would stop a futile venture which continues management employment for its own purpose and dilutes the little coffers we still have.
Discuss
could I just confirm what I think is our financial relationship with JLP.
We have about 46,503,697 JLP shares.
Once JLP have taken their investment money back (about £4-8M?? for larger processing plant. no idea?), we get 12% of Kabwe profits per year. Is this bit correct? i.e. our 'profit' money comes from Kabwe profits and not JLP profits?
My reasoning is that after 3 years or so, a % of Kabwe profits and nearly £50 M JLP shares, we could start to accrue actual money. Another 2 years or so of that fund increasing (assuming a healthy increase in JLP share price, which they seem to be poised to do) , we could have sufficient funds to divide up between BMR shareholders.
I am very convinced that the alternative is to let Borelli just 5hit us along until all BMR is gone. The £415k of money pi55ed away to 'Blue Square' is another matter.
....... Yes, that period of the webcast was confused by CB's incoherent ramblings and poor sound quality. Also, they talked about being the only zinc refinery in Zambia and not lead, as I reported.
How about this for an idea. All BMR directors and staff are dismissed. Any monies in BMR coffers are used to buy JLP shares. The 12% shares in JLP are managed by an intermediate. After JLP have got their investment money back, a % of Kabwe profits come back to BMR. Any profits are reinvested in JLP and the entity of BMR 'money' stays put. No relisting. No drill holes. No nothing. No BS. Between BMR investors (via investor group) we agree a price when we sell our stake in JLP in order to get back our BMR money. It would take 3 years or so but with no directors and no new acquisitions (that will be dragged out by Borelli until the money is gone. That is a cert.) we should get a proportion of our money back.
well those two certainly spent a big proportion of that 60 minutes,talking about this assett.
Adjshares, I have just watched the webcast and I don't think Colin was talking about BMR when he mentions the value disconnect. He was talking about BMR then all of a sudden drifted into talking about JLP's lack of value.
He mentioned that "Mr. Borrelli" is anxious to restore shareholder value and to get the shares listed back to market. I'm hoping that the acquisition will be good for us and means we can re-list on AIM, we will have to see.
With a decent acquisition and 12.5% from Kabwe, we should be back in business, so to speak. JLP are looking to be producing in April/May next year and this should see some nice income for BMR in 2019. If JLP can achieve a 40tph plant, you're looking at $200m plus revenues, based on current metal prices. Do the maths on what that could mean for BMR...
Colin bird just seem to do a lot of sighing when talking about BMR and bemoaning the fact that there was a disconnect between the market cap of the company and its value. I think he was really implying that the BMR management had not been capable of making any money out of what jlp seems to consider as a massive massive asset and they talk of it almost as though kabwe will be the cornerstone of their company in a few years with the renovation of a possibly government owned mothballed processing plant and being the only lead processor in Zambia it seems to be very big in their future strategy. It just again shows us how much we have lost through management in incompetence.
The thought of relisting and then a whole ridiculous process of buying rights paying salaries processing analysing bore holes bloody drill holes everywhere.
http://webcasting.brrmedia.co.uk/broadcast/5bfc0a9dde87317597836b02
Includes "its Kabwe Project where the lead, zinc and vanadium recovery strategies have been advanced".
Hopefully have a positive vibe about Kabwe.
I would be far far more worried about the BMR BOD and their actions than the honesty of JM. JM has earned its respect in its niche of the market.
Thanks Vigenere….my only concern now is that the cost etc will get manipulated so we get a tiny revenue share.
I hope we have the correct audit rights to sense check we get the agreed share and its fully honoured.
Best of luck
CG
What amazes me is how the tables turned on BMR.
It was like BOD were amateurs and maybe bit off too much .
On positive side , we should have no baggage now and limited overheads ( I hope ).
Maybe a blessing in disguise if numbers come to fruition and we just reap royalties.
BTW, when he first appeared we owned considerably more of the Kabwe project than we now do.
When considering the last 3 posts, do bear in mind that this is the same person who was avidly ramping this share earlier this year and stating we would be seriously in the money (sic) by this year end. A series of later deadlines were then added as matters developed (sorry deteriorated).
Make your own mind up on Viginere but keep a sack of salt handy.
Hi 3card. Yes, I feel that Bozzer has been woeful for us, whether intentionally or otherwise. I happen to believe he has knowingly stitched us up, but that is only my own opinion. How he could have made a balls up of Kabwe to such an extent that we are left with only a tiny percentage of any future profits (after JLP has taken out costs etc), on an asset we wholly own and have ZEMA approval for to process lead and zinc, is beyond belief. It is for that reason, I have to conclude that he's done everything on purpose. Including not sourcing funding in a timely manner.
But he's done it all fookin' successfully. Lol.
It seems to me that his own interests have come first, and said interests
unfortunately haven't been the same as those of BMR shareholders.
Whether we do relist, time will tell, but if we do, what exactly can we trust him with?
Certainly not a comb. Lol.
Cheers 3card. Good luck to us, and I reckon we'll need every ounce of it.
Great, thanks for the summary , appreciate it .
So there is some hope and its not completely dead.
I believe the zinc and vanadium prices are quite robust, therefore we should get there sooner as opposed to later in regards profit share
Thanks
Hi CharlieGeorge, this should help to give an idea of where we are at…
We currently own a 12.5% interest in the Kabwe project, BMR are not required to provide any funding for this. Either way, once a plant is operational and JLP have recovered their costs, we will receive 12.5% of the proceeds.
We also own approx. 3.5% in JLP via shares (46.5m) and we will soon own 15m shares in GLR.
BMR is currently looking for an acquisition so that we can re-list on the market. The timescale given is Q1 2019 for an acquisition and re-listing to take place.
Let me know if you want any further information.
Cheers,
Bring
Hi , i have been LTH for long, long time.
Can someone please in a few sentences tell me what interests we(BMR) still have?
I am a bit at a loss on what has happened in past few months
Appreciate it !!
His lack of detail and clarity in the couple of announcements he has bothered to make since de-listing BMR merely confirms his contempt for LTHs. That we have to get our info from JLP is appalling.
Many a truer word spoken in jest mate.
We can fantasise all we like about whether Bozzer is actually a white knight who will suddenly,without warning charge in on his steed and save us all. And wouldn't that be wonderful?
Trouble is his track record on both caring for shareholders' interests and doing anything worthwhile during his tenure speaks volumes.
Cheers 3card
Now JLP has all but secured Kabwe, it will have to get a shift on or risk losing the licence. Lol.
£300k isn't bad, if that's true. Be nice to know officially, but any amount is better in the coffers than not.
The new acquisition will obviously have to be less complex than the Kabwe tailings project, or at least have fewer issues, so we'll have to see what Bozzer comes up with.
Unless he simply disappears into the night. Lol.
Aye, JLP obviously have their own plans and timescales for the plant but I'm sure they will need to get a move on come start of 2019.
I believe the money that BMR recovered is in the region of £300k, the exact figure will be published in the results at the end of the year... I know they got a bit more than they expected. The acquisition is anyone's guess but it had better be good for us.
Like you say, there's not much to talk about at the moment so I will remain fairly silent until we get the news on the acquisition and re-listing.
Here's hoping BMR is re-born in 2019 (lol)
Cheers Bring. Yeah, I'm still here, just don't post much as waiting to see if we do relist and what occurs. Spot on re JLP, and not sure why they aren't forging ahead yet, but obviously we are relying on them for a return now, considering the Bozweasel seems to have virtually gifted them a couple of $billion worth of our assets.
I couldn't bear it if the JLP lot also turned out to be a load of duffers.
Have to see eh? No stress now though, because we are currently lying dormant. I'd like to know how much cash Bozzer recovered from past robbers though, and what new acquisition he intends to go after.
As usual, news is scarce, and now we aren't listed it's even easier for Boz to dodge such menial tasks as keeping us informed.
Good luck to us all, if the ball ever gets rolling again.
Hello Mr Draven. Good to see you back here.
Lol, we all live in hope... I'm not too happy with the situation at the moment. I'm hoping BMR will re-list early next year, and that JLP get a plant up and running so we can start to receive an income.
Let's see where we're at early 2019. Should be in a better place if nothing gets worst lol.
Cheers for posting that. Meanwhile, Bozzer is doing his absolute best, to ensure that we never relist. Lol.
The formaldehyde is on order.