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Who's blackmailing who. Sounds like the watch and borreli are of the same making.
Oh right.
So if Borrelli stays and is left alone the co. thrives.
If Borrelli is removed the co. is liquidated.
Given his holding is 0.74% of the shares in issue, wouldn’t the remaining 99.26% of holders of shares have something to say about that? Sounds like a form of blackmail being performed.
I heard there was an attempt to throw out borrelli which would have liquidated the company. Is bmr not in private hands.
You’re the only one suggesting BMR watch attempted to liquidate BMR Group. How would they do this?
Where is your evidence that there was an attempt to liquidate BMR Group by BMR Watch? See BMR Watch twitter account where they explain they requested an EGM to be called. It says nothing about liquidating BMR Group.
Klueloss why did BMR Watch try and liquidate bmr. Was that an error as it was taken down a day letter. Bringmyreward known to peddle lies.
On the point of the last 2 posts, do I recall from some time back that the licence must be owned by a Zambian registered company, which can be a subsidiary?
With Colin Bird on both boards and with no further cost to be incurred by JLP with a date of roughly August 2020 to acquire 100% of EML you can rest assured JLP will obtain EML before any liquidation. And even if they don’t, who is better positioned to obtain the licence than JLP given they are already at the site doing what BMR failed to do.
If bmr go bust the licenses are revoked. Jubilee will then have to apply for ownership. Jubilee have not aquired eml yet
CBs Tiger resources has also written off the value of BMR shares in their net asset value reports.
But don't know what the royalty will be worth tbh. It seems to be structured that it only kicks in after we have recovered costs, plus 20%, plus deprecation, plus taxes etc etc. If the purchase of sable is being treated as an investment cost into the kabwe project, then costs are going to be high, and we know its not going to be in full swing for another year at least. Then there's the matter of copper and 3rd party material, that's far from clear if the royalty would be payable on earnings from those two. So it could be several years before any royalty would be payable to BMR, and a lot can happen before then.
Thanks moneyhawk. Interesting that the holding has been given a nil value - fair value given BMR now only have an agreement of sorts about a future royalty. As far as I’m aware nothing has been finalised on the royalty, we only know what was explained in one of the previous RNS issues in the past.
Don't see that we would lose anything really from BMR going bust. The 30% stake we took looks to have been to provide the funds for them to keep going while they held a majority stake and ownership of kabwe.
Circumstances changed dramatically in the fall out of BMRs incompetence with the kabwe licence. We took pretty much the whole kabwe project for next to nothing. Thats worth a lot more than what we paid to get the 30% stake in BMR. In that context, and should BMR now fold, we've gained a lot more than we can lose.
And in the latest annual accounts, our BMR shareholding has been given nil value. So the most we can lose now if they do fold is nothing. If they come back to life, then our shareholding has some value and we've gained from the current position being accounted for.
Yes, the fact they have until August 2020 to acquire 100% of EML for no further cost - that’s Kabwe. They have agreed (as far as we know) that BMR will receive a maximum of 12.5% of any future royalties.
They have several other projects running concurrently elsewhere, some making profit as far as I’m aware.
But yes, their 29% holding in BMR Group - who have an LTO to relist to fund a Chilean exploration co. (most likely via placing/dilution)with no guarantees other than the commitments made by BMR to fund it (from where?), that’s what they’re really concerned about. So yeah sure, it’ll be devastating for JLP if BMR went bust.
Kabwe will come online late next year. The royalty is a distant dream. What matters is jubilee losing out on there 30% investment
Yes I’m sure JLP would be massively affected by BMR going bust. I mean acquiring the remainder of Kabwe and not having to pay out a royalty in the event that’s BMR were to go bust would be nothing compared to their 29% share in a co. that had gone bust.
Klueless how many in the BMR Watch are invested in Jubilee. I would guess the in the know crew who came up with the egm strategy were most likely selling jubilee shares as jubilee would be impacted if bmr went bust.
Platinum and Palladium are still flying :) And thank god for Corbyn and Abbott. And Klopp has signed a new contract. Great day. Just need the SP to go up now lol
1.19 - "Jubilee share price was 4.5p now 3.86p. Thats a crash to me. "
New to investing on the stock market then? That kind of fall over a month, and following a 50-60% rise the previous month, is hardly a crash. Nothing to do with BMR, our shareholding there has practically nil value. We've already taken the hit on that, but will benefit enormously in the near future as a result.
A problem with your hypothesis is that BMRW called for an EGM on Monday morning. So how can they account for the fall before that?
Monday open was 4.03p
Not thought this through have you.
Jubilee share price was 4.5p now 3.86p. Thats a crash to me. Possible reason was BMR Watch have been looking to liquidate BMR which would impact Jubilee as we are 30% owners. BMR watch seem to be run by fools.
Gone down 1.28% hardly crashing
There will be substantial growth here over the next 12months.
The share price isn't crashing.
Incidentally, I'll be buying back in with my trading tranche if I can get 3.85 tomorrow.
"Why is the share price crashing" - Because Leon is a terrible CEO. Every year he issues more share to cheapen our hands. That's why the coward won't buy shares with his own money as he knows this behavior won't stop. Once he runs out of suckers to buy into this wash and rinse cycle scam then we might all have a chance. My advice is put these shares in the bottom draw behind all the naughty mags and forget about them.
Why is the share price crashing
3card, we just need another update showing progress across all projects to reset momentum. Trouble is this probably won’t turn up until late January, volatile until then!
Very difficult to call on this. On the one hand, you could argue that we are only seeing a retrace (albeit a big one) from a spike and things still settling down.
Indeed it could seem attractive to top up at this price. But one shouldn't lose sight of the saying "catch a falling chainsaw" (sic) with the possibility of some uncomfortable news on the way.
Not sure floods would be a big issue for a tailings operator, unless our plant is in a dip and now under 6 feet of water.
Ultimately, if we all still believe that this is really going places next year, then a retrace should not be a discouragement.