Member Info for 3cardbrag

You don't need to bang on about fantasies. I was a lone voice calling out all about fake news and fake calls long before you graced this board. You too have a nice day.

Jubilee RNS dated 3/8/18
"The construction of the zinc recovery circuit of the Kabwe project is progressing. Our initial focus is on the completion of the zinc recovery circuit while our research and development teams conclude the testing of the lead and vanadium circuit design parameters.
Our process development teams have been able to determine a more suitable process solution than the originally contemplated acid and brine solution for the extraction of the various metals at Kabwe. The updated process flowsheet offers the potential to both improved capital efficiency as well as reduced circuit complexity.
This process circuit development lies at the heart of Jubilee's expertise to develop suitable metal recovery processes for historical mine wastes.
I expect the team to conclude the full circuit design and project financial parameters targeting the three metals, zinc, lead and vanadium by the end of August 2018. Â Jubilee and BMR Group PLC have agreed to extend the contractual period to conclude the circuit design and project budget to align with this target date.
Jubilee will continue to fund the construction of the zinc circuit during this period and we continue to have positive discussions with the Department of Mines and Minerals in Zambia."
So what exactly has been happening these past 5 months?

"Capital expenditure to commence towards end of 2018/2019"
That could be read as either end 2018 or end 2019. I presume it's start late 2018 or early 2019.
Must admit I thought they had already started.. Goes on to say Zinc production first but conveniently doesn't say when.
"Jubilee to design, build and operate the plant"
Thought had already designed it. Is it my imagination or is everything being kicked into the long grass, possibly in the hope that BMR will go bust and they scoop it all up for next to nothing?

Now that doesn't sound credible to me. If Borrelli is completely hiving off the royalty into a business separate from any new ventures, I would assume he would also need to hive off the licence.
If so , why is he continuing to fire sell our assets to start a new venture. And if we are talking about 2 lots of shares, then in effect existing BMR shareholders, are paying all the upfront costs and shouldering all the burdens that shareholders in what is effectively a new business would otherwise have to swallow by way of placings and dilution.
The problem is that the BoD are telling us diddly squat, just throwing a few crumbs to keep us interested. We desperately need them to publish their plans in detail rather than cosy snippets to individuals.

Surely the company which owns the licence and the company which owns the royalties will still be in the same group so I can't see how it would work.

Eric, hi.
I'm really not sure how this ringfencing would work. Assuming the funds stay within BMR itself, I'm assuming any new shareholders resulting from dilution would be excluded from sharing the spoils. But then if BMR got into financial difficulties (lolol), surely creditors would be looking at hypothecating them.
In other words the age old rule that shareholders are liable up to the value of their shareholding would apply. You couldn't just open a subsidiary company and put the funds in trust to protect us from liquidation.

???

Read the news on Jaguar land Rover today? Oil is steadily becoming yesterday's news.

Best not to assume that a consolidation will solve anything. I'm in VOG which had 4.5 billion shares prior to a 40:1 consolidation. Several years and several additional dilutions later, the SP is now 20p compared with a consolidation price of around 160p equivalent.
For successful companies it can work but for unsuccessful companies, it's just an opportunity for boards to raise even more funds than a penny share would allow.
One could argue that a minnow AIM company with over 5 billion shares is one definition of an unsuccessful company.

I believe Viginere is correct in separating plc status from listing status.

Not surprised to see that Vig and Mike have gone to ground following recent tweets which confirms that the BoD do follow these boards, maybe even contribute for all we know.
But it merely highlights how emotions are raised when Bods ignore or treat their shareholders with contempt. We have been frozen out of the process here for far too long and watched our share value and assets disappear before our very eyes in a long slow drip, drip over several years.
The recent tweets are scant in detail and issued somewhat begrudgingly, but are nonetheless welcome and form a benchmark for the Bod to be held to account if necessary. Dare we hope that in future the shareholders will be less taken for granted and will receive regular updates/consultations, preferably with some detail in them.
We are after all, let's not forget, the owners of the business.

......just passed and all been very quiet of late. Hopefully a good sign.
Half year results showed a big increase in T/O and profits and with pre results statement due next month, a good set of results could well push this back up to 4p, somewhere we haven't been for nearly a year now. GLA

Just to further clarify, if JLP acquired 100% of both EML and Kabwe, would not our royalty be lost?

Thank you for clarifying

One further point to add. Whilst a tweet is not a stock exchange RNS it does suggest that there will be no more disposal of our rights in Kabwe. Having said that, don't JLP have an option to take it out completely?

Information seems to have been well received on JLP board.
Hopefully, moving forward, both lots of shareholders can enjoy the fruits of Kabwe

That may well be a general rule, but to recruit from within is probably a bad idea. The whole board is tainted with the stench from the McCormick/Nissin debacle and they should bring someone in IMHO. Trouble is it's turkeys voting for Christmas.

Seems the directors have reacted quite strongly to some posters' recent posts of criminality. Always a bit of a minefield.
Having said that whatever your views on what has been said by some, it has prompted the company to release some information for a change rather than keeping us in the dark all the time. After all this vacuum is what foments the sort of posts that some have made of late. Long may the information flow continue and on the face of it, good news to boot.

A mere whiff of him taking over and I'm selling at a loss.

An example:-
ADJ post "..... I is involved in a court case against AB then being shown to be obsessive and discussing on a public forum how to cause grievous harm to this man and his family your credibility will be hugely diminished."
VIG reply:- "What I posted in response to an earlier post regarding Napalm , was intended to be read with rather more wit than you seem to possess.
I have no intention of responding to the tripe which sits below your condemnation since it is not worthy of intelligent discussion"
You could have just said " I was only joking". ADJ would have had egg on his face for not seeing the obvious joke and you wouldn't have come across as an obnoxious pillock. Try it some time when conversing with we mere mortals..