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Jammer1 posted a theory on the JLP board which might actually be plausible… We’ve all expressed an interest in swapping BMR shares for JLP shares in return for the Royalty, but what if a similar deal could be done with GLR?
We already own over 24m shares in GLR, these could be sold for cash, then BMR reverses into GLR bringing cash (which can be used for exploration activities or fund Star-Zinc setup) and a Royalty that will initially pay 5% of all profits from Kabwe, and eventually 11% after JLP recovers their costs (the terms of this could potentially change). Alternatively, the Royalty could be put up for sale, and again, cash used for operational activities.
GLR’s current MC is £7m with 766m shares in issue. A 1-1 share swap would be circa 40% dilution to GLR. 2-1 would be circa 80%. Would GLR shareholders be happy with those levels of dilution? Also, Bird owns almost 9% of GLR, would he be happy with that? I’m not sure how JLP would play things regarding their 29% of BMR.
From a BMR shareholder perspective, a 1-1 would only value BMR and the Royalty at circa £3.5m and I would be more inclined to accept an offer of 2-1. I believe it will become much more difficult for micro-caps to raise funds going forward. GLR aren’t likely to see any revenues this year, meanwhile cash is burning and it won’t be long before they need to raise again. A deal like this would pretty much guarantee them getting Star-Zinc online and would give an additional long-term revenue stream from the Royalty – you can’t really put a price on that kind of security in the current global economy.
I know JLP is a much stronger business given they have cash, revenues, and profits, so many would probably prefer a share swap with JLP. I just don’t see that happening, especially as it would seem JLP want to distance themselves from BMR as much as possible. If we compare JLP’s MC of £109m to GLR’s £7m – you could easily argue that GLR has a higher chance of their SP multiplying compared to JLP. If GLR can successfully bring Star-Zinc and Kash-itu online next year, you would have to assume a major rerate of the SP. If they had the Royalty on top of that, you can see why a share swap with GLR could be very beneficial to BMR shareholders.
Obviously this is just speculation, but something to think about and gives an idea of the type of deal we would like to see happen.
Sorry Bring - but you are di-luded....you need to let it go ( I am affiliated to no-one and lost a pretty penny on this and others and just looked in the first time for about 4 years)
Apologies for first time post (lost login)...was in this many years ago and gave up (in about 2014) when in about 2010 all went ti*ts up...the fool in me first time investor dived in - when I think it was jp and bear or something like that... I got out with £1200 from 20k (just on this "share"...looked in again and it's the same old, Alikani Alzheimer's should have been a big warning and the Borreli in interviews looking up to side with eyes and scratching nose...sure sign of (allegedly) lying.
I really do wish you and anyone with any hope some luck on this but don't waste your life and energy on this...time , family and health is more important than this (and anything).
These companies put aside about 10% share issues to (very share knowledgeable) lawyers for 'emergencies' and you will one day look back and say what the fook did I waste my time on this for...let it go and karma will do your work for you.
Best O Luck...
Doing a deal with Gallileo is my best option. Lets hope Colin bird gets a move on. This is out of borrellis control. Its up to Colin to get his finger out.