The point being made is that some on this board see great, albeit future, value in the royalty, and in the right hands, that may be so. But we have a board in charge which cannot be trusted to look after the interests of the ordinary shareholders. As I have pointed out before, Borrelli , in a phone conversation with me, was adamant that the SP was in fact worth multiples of the pre-suspension SP due to the royalty agreement. And yet just months later, he wanted to dilute the hell out of us with the power to issue hundreds of millions of new shares on some random scheme totally unconnected to BMR operations but connected to him and Bird. And was prepared to put the royalty up for grabs to achieve this all based on the premise that just a few months after our conversation, the SP was in fact worth not multiples of 2p but a mere small fraction of 1p. Now you choose whether you regard that as total ineptitude or something more nefarious. All I know is that I feel I have been lied to and shafted.
I have no confidence whatsoever that the royalty will produce any meaningful value to the existing LTHs. So much so that if anyone wants my 300k shares on which my average us over 7p, they can have them for 2p per share. Any takers, meet me on platform 2 at Euston. I'll be wearing a pin striped suit and sporting a very dodgy barnet in deference to the shower of snake oil salesmen running this outfit. Cash only. Or maybe gold.
Suzy. Me too. Possibly false optimism and had thought about topping up a few days ago. However sods law dictates that the day after I top up the SP will drop on bad news. If news is good and they go up 10p a share, I make 6 grand on my modest pile and I'm happy with that. Not greedy. G Here's hopin'
the insertion of "pp", meaning "for and on behalf of" suggests acting or speaking for the other person with their consent. I'm sure that was not your intention. And your later caveat adds a whole new and unexpected meaning to the report.
Guys - sounds like you did a great job on Friday. It is to my shame and embarrassment that I was unable to attend. My apolgies for that. However does this now mean there will be another vote and invitation to another meeting or are they just going to count the votes that were sent in? Seems a bit unfair if they had already decided by a show of hands. I have a relatively modest 300k shares in BMR although this represents around £22k of my hard earned so if there is a possibilty of preventing Birdorelli flushing it down the toilet, I too would be prepared to contribute to a fighting fund if required.
Yet another interview filled with hopeful words but not much else. Only good thing is the minister visiting the north at the end of the month. Can't help but think that Brexit is the reason for the delay and that the Swedes won't make any decision until November at the earliest. In which case, if we as, hopefully, a former "club" member, do eventually get the concession, what additional onuses and regulations will be placed on us as an outsider, notwithstanding that over 60% of the company is owned by Sweede
Seac - He was last seen supping in a central London boozer with disgraced former Guinness chairman Ernest Saunders. When a barmaid asked if they needed a taxi, they told her they didn't know where they lived as they've both got altzheimers.
You appear to be having something of a Damascene moment Buddy. Time was you would be pumping us up with the latest offerings direct from Ponzirelli, although you seem to now accept was a total ******* we are dealing with. I'm not gloating BTW. I'm glad you appear to have accepted the inevitable. Just wondered what the actual turning point was for you. Cheers.
Looking at my portfolio which has been decimated in recent weeks (presumably Brexit will get the blame), my PFD shares have held up relatively well. That tells me that if I sell tomorrow, there will be a big announcement which will propel the SP upwards. It's called sod's law.
RE: BMR Annual/Ordinary General Meetings02 Aug 2019 12:18
Klue A Borrelli - liar or serial truth massager? You decide. I make no comment other than:- 1. Tweet Jan 9th - We are working on a circular with proposals subject to shareholder approval for the acquisition of a further licence and the demerger of the royalty agreement into a separate company to be owned pro rata by shareholders to protect value. Really?? 2. In a telephone conversation with me some months ago, and prior to the coffers being topped up more recently, when I queried the share price value compared with the pre-suspension SP of 1.98p, he assured me that as far as he was concerned, the SP was already worth multiples of that price. Yet a few months later, we are told that the SP needs to be subdivided as the value of each share is clearly less than the 1p par value of the shares. So what has happened to all that value which Borrelli spoke so confidently about just a few months ago? Or could it be that the value is still there but the current share structure doesn't suit the board's plans. Make no mistake, we vote this lot of crap through and LTHs will be wiped out.
Hi Rouse I think that applies to all who post on here, with ,of course, the exceptions of Banjo and PB, the former of which never was a shareholder and the latter of which actually did sell at 80p and bought back at 11p every time. Cheers 3card
Good news without doubt. But let's not get carried away yet. A) non binding term sheet b) plant to be built c) govt sign off required, d) probably need another fundraise to pay for processing plant upgrade and branch line extension. All good for 18 months time though. Imho