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Cheers aim-sickness, I've responded on BMRW. I think we can get this circulated for the weekend. Hopefully letters and Emails will be going out to BMR/JLP next week...
JLP RNS says they plan to build a new Copper processor in Zambia within 4 months. Somehow they can do this in a short space of time, in the middle of a pandemic – yet they put the Kabwe Zinc project on hold apparently because of the pandemic . Just goes to prove they have dragged their heels on the Kabwe project for good reason. They didn’t want BMR to benefit in any way with the Royalty.
Just to point out JLP have an RNS out about new copper projects in Zambia.
Not a word about the Kabwe tailings. At this rate, there will be no capacity left at Sable to process them anyway.
According to JLP, the Kabwe licence was being renewed end of July. I would have expected an update by now – perhaps they are waiting for the licence and assets to transfer first? The 2 year deadline for acquiring EML is up in a matter of days. Once the licence and assets transfer from BMR to JLP, the 11% Royalty must be put in place.
Zinc is starting to recover strongly back towards $2,500 a tonne. Lead is also recovering nicely and Vanadium is slowly moving back up from lows. Surely JLP have no excuses but to get the project going this year. I can only see metals moving up strongly over the coming years.
Borrelli Tweeted almost 4 months ago saying BMR were looking at certain exploration opportunities with a view to establishing a re-listing. Judging by the silence, can we assume they have failed to find a suitable deal, or are they waiting for the Royalty being put in place so they can do a deal with JLP or another party?
I think it’s time we get this letter finalised and ask all BMR shareholders to send it to Borrelli/Bird/JLP etc. We won’t be forced to accept a poor deal. Shareholders will clear out the Board and take control of the Company if necessary.
Thanks for the kind words, looking forward to joining the fleeced at the eye of the weasel event this summer. We might be able to use a substitution and carry out the Boris “Whack a mole” during the more subdued parts of the event. It should raise spirits and any over exuberance will lead to calorific glee as participants join in with government themes to fight obesity. If has been suggested thar Borrelli loose 7lbs of unsightly flesh, I’ve reminded those attending that he’s been a headless chicken for a number of years and we don’t seem to be able to align his energies with a work ethic involving value creation. It seems that his destructive qualities in the financial sector are akin to those of Fred Dibner in demolition, now it’s there, now it isn’t.
I have deliberately not looked in here for a while as it is too painful a memory .
Sorry for your loss Fireball.
If there is an AGM this year I will try my best to attend as I want to look the weasel directly in the eyes so he has see the contempt I have for the man.
I have written BMR off to be honest - I committed the cardinal sin of investing in the warrants issue etc so my average is a lot higher than some. I could kick myself at times, however, it is only money.
To be honest back in 2010/11 thing looked like a whole lot better with Alikhani - the SP was all over the place and I am sure many made a killing with trading - I and a lot of others on the other hand just did not want to be out of the sure fire winner.
Sadly I recall folk talking of getting all of their familes investing in BMR and some taking out loans as it was such a sure fire winner - I recall the days of Zedd and Razor with his toot toot quotes. Happier times only to be shattered by a couple of shysters.
Hope you are all keeping well - stay safe. Bryn
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.
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.
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?