Member Info for allianze

I hope BMR holders here are starting to get their membership sorted out for BMRWatch. A start has been made in drafting a letter to the BOD. It has be posted on BMRWatch, BUT nothing will be sent until members there, AND those still joining from here, have had a chance to read and comment.

Regards.

Re: Leader of the sharegroup:
Firstly, there is not going to be any leader(s) of the sharegroup. The BMRWatch group is already a well established group with committee members in place. Anyone wishing to put themselves forward as a committee member will be voted in by the PI membership. The committee members will then be expected to act as representatives for all the PI membership. If a meeting is organised with Borrelli it will be the committee members that will attend, on behalf of the PI membership. The questions they will put to Borrelli will have been formulated and agreed beforehand by PIs, certainly the scope and topics that need to be covered.

Re: 3cardbrag -- Allianz re court of law - 'We both know that's not going to happen don't we? '. Yes I agree that this will not happen, because it will not be required. All that will be required to deal effectively with this situation is a strong shareholders group. Also, Borrelli is the last person that will want the catalogue of disasters that he has resided over aired in open court. Where all e-mail correspondence and communications between Borrelli and ACI, MTR, JLP will be held up to scrutiny.

Re: bandit1 - 'I will resist venting here any more and will engage on the JLP board in a more productive manner to save others from having to read my musings.'
Re: 3cardbrag - 'I will not be joining any shareholder group run by Bring.'
I hope that as many PIs join the shareholders group, including bandit1 and 3cardbrag. I do not understand the point in attacking BMR or Vig. If you are angry with the current situation, then venting your anger on another PI simply lets Borrelli off the hook! Help establish a shareholders group, by becoming members, that will hold Borrelli to account.
In this unfortunate situation, PIs should act in a measured, cool, calculated and forensic manner. Especially when dealing with Borrelli. Getting angry and venting frustrations again lets him of the hook.

ruman99,

By setting up a shareholders' group that represents a sizable portion of the PIs. Other shareholders have managed to easily get over the 10% mark. We can then get a formal meeting with him, which if necessary it can be audio-recorded and put on the BMR website or requested from the comany secretary. This was done by SOLO shareholders to good effect. Borrelli will have to answer questions put to him, and we can drill further for more detailed answers, which currently he is able to dodge.

IF the answers he provides do not satisfay the majority of members then they can push for an EGM, and if necessary vote him out. Borrelli does not have a God given right to be CEO of BMR. At this point it may be that JLP may try and save his skin, BUT I will bet that they will not want to be seen overriding the wishes of the PIs and will feel that it would be better for him to go. In either case, I do not think that Borrelli will want that level of humiliation. So he will co-operate in any dialogue, or like Ritson of SOLO will resign. He will be replaced by a non-executive until a proper replacement is found. More importantly, it will send a clear mesage to the other directors both at BMR and JLP that the PIs will not be easily rolled over.

BUT first fet us get to first base, and set up a group. The more verified members the better ! Then we can take it from there.

bandit1,
It's not productive in the situation we are in to maintain past animosities. The person who should bear the blame is clear, and it's Borrelli. Lets concentrate on getting a group together now, if only for self interest. I hope that you can also help in any way that you can.

BringMyReward,
Have you managed to become a member at BMRWatch yet ? I have created a free Shutterfly account and sent an email (using the same email address) to their gmail e-mail accounts at (bmrw.pool and bmr.watch ). But havn't got the invite yet from admin yet. I am sure they are busy !

BringMyReward,

I am sure you are right. That's why I have to sent another e-mail for him to claify. No reply yet! However, he will not be able to dodge, fudge, or misinform IF we get a shareholder group together. We can then drill down and get him to answer questions on the record. Until then, it is useful to formulate the questions, and details that he is obmitting now to answer for later.

As I point out in my e-mail to him, regarding the whole license debacle, that is something that will have to be carefully scrutinize by BMR shareholders. In the meantime it's good you have recordings. It may show a pattern of mis-information and intentional delaying tactics. That's why I included a section in the e-mail pointing out that the reason we are in this mess is either by negligence on his part in performing his duties, or that it had been done with prior intent.

I cannot see any explaination other than the above as to why, given the time he had, the NOMAD and lifting of the suspension could not have been done in a timely manner. The unceratinty about the license, if an issue, was caused by the delaying tactics of JLP, which must have been agreed by BMR/Borrelli!

I wasn't concerned about proving it to the doubters, but in a court of law!

That's OK BringMyReward. But the difference between conversations and e-mails is that the former is documented and time-stamped. It cannot be disputed. With conversations, that's a different matter unless you taped your conversations with Borrelli.

--------------- Reply to Borrelli e-mail response ------------------

To Alex Borrelli Today at 18:31

Dear Mr Borrelli,
Firstly, thanks for your prompt reply. I hope you appreciate that these are legitimate questions and need answering.
If I understand your reply correctly, you are saying that the NOMAD has been in place for a while. Is this correct ? Surely, it should have been confirmed to shareholders. Why was the market not officially notified in an RNS ?

You say that AIM, with no reason, declined to lift the suspension within the last 48hours. Also, that I should direct my questions to AIM.

But Mr Borrelli you are the Executive Chairman and CEO of BMR, not me! You say that you believe it had to do with the uncertainty over the licence. Firstly, the whole saga over the licence issue is something that will have to be considered carefully by BMR shareholders. BUT, is it not possible that the real issue was that this was left to the last minute to resolve, and AIM regulators finally got fed up. If this had been resolved much earlier, when you first realised that WHIreland was resigning, wouldn't our de-listing been avoided.

Further, regarding the Kabwe Mining Licence. This was restored in the RNS dated 06 April 2018 - Restoration of Kabwe Mining Right (RNS Number : 1713K). If the issue was about the uncertainty over the licence was this not caused by JLP (with BMR's agreement) continually pushing back the date for the completion of their development plans ? If I recall correctly JLP were to have finished their plans end of May, then June, then July, then August and now they claim end of the 3rd quarter!

Also, please can you clear up the role played by Mr Colin Bird, who is a non-executive at BMR and also JLP Chairman, during this period ?

I look forward to read your considered reply to the points raised, as these are relevant questions under the circumstances. Please can you e-mail me back to confirm that you have received and read my correspondence.

Yours sincerely

I too have e-mailed Borrelli today. I received a reply which was unsatisfactory so I have e-mailed him again for clarification. I am waiting for a reply. I will publish the contents on my e-mails. BringMyReward, I don't see why you are holding back posting at least your e-mail to Borrelli, that not breaking confidentiality. In any case, it is relavent to all BMR shareholders !

I think these questions, and earlier ones, should form the basis of more detailed questions that Borrelli will have to answer fully IF we get a shareholders group.

-------------- 1st E-mail --------------------

To Alex Borrelli Today at 17:17

Dear Mr Borrelli,
In the latest RNS - Kabwe Project and Delisting (RNS Number : 8290W - 03 August 2018) you confirm that BMR has now been de-listed from AIM. You state that the directors are 'particularly disappointed having made significant advances in recent months with Jubilee Metals Group..'

Can you explain what this had to do with sorting out the internal BMR issues of getting a NOMAD signed up in time and coming out of suspension before breaking AIM rules ?

In my e-mail to you dated 20 Jul at 9:53 AM - please see my earlier correspondence above - it was clearly pointed out that these two issues were critical and needed to be sorted out. Both of these issues were in your control, and as you admitted you had been aware of them for a fair amount of time. Yet you failed to resolve them in time. You can please also re-read your response to my e-mail, and see how hollow your response now appears.

I also pointed out that having been for-warned about these issues, if BMR gets de-listed from AIM then it can only be concluded that it had been either negligence on your part in performing your duties, or that it had been done with prior intent. Can you now tell me, and the BMR shareholders, which of these two conclusions is correct ?

Can you also explain to me, and BMR shareholders, what role the non-executive Colin Bird played during this period of ineffective management ?

I re-iterate that as both Executive Chairman and CEO of the company the ultimate responsibility for the current mess that BMR finds itself in rests with you. Can you therefore inform shareholders when they can expect your resignation ?

I look forward to read your considered reply to the points raised. Please can you e-mail me back to confirm that you have received and read my correspondence.

If I have not heard from you by the weekend I will send you a registered letter to the BMR offices at 35 Piccadilly, London W1J 0DW. I will also send a copy to the company solicitors Hill Dickinson LLP asking them to pass you a copy.

Yours sincerely

'The Directors are pursuing a number of options in order to maximise value for shareholders including seeking an alternative trading platform for the Company's shares with the full support of Jubilee, its 29% shareholder.'

I knew the term 'shareholder value', or in this case 'maximise value for shareholders' would be used somewhere !. Basically, they want to provide the means for as many PIs to sell off cheap. They will then increase their share and reduce the influence of PIs. Canny bast**ds, that Bird and Borrelli !

Just noticed that some of the LSE BB trading functions have now been 'greyed' out. This is normal. The other BB functions will continue to function as normal.

SAUSAGEFINGERS,

Regarding 'hoping JLP are waiting in the wings with an offer to take the shares of our hands.' : A reasonable expectation, but again without a shareholders' group looking over Borrelli's & Bird's shoulders they will fleece BMR PIs. They will offer the minimum price possible and advise PIs it was in their best interest, and that it provides good 'shareholder value' ! I'm sure Borrelli will be telling PIs how he too is a shareholder, whilst securing himself a seat on any newly formed board.

I hope all PIs support the shareholders' group.

Danlaur,
Although we should not have been placed in this position all is not lost. First we need to get organised. BMRWatch seems to be stirring into life so that will help make the process of organising faster. We need to get over 5%. Preferably over 10% of the shareholding and Borrelii cannot ignore the shareholders' group.

I suspect once Borrelli realises that a shareholders' group has been set up he will be more forthcoming in answering shareholder's questions. We need to get a proper and full account of the issues that have resulted in the sorry situation we are now in. Then we will be in a better position to see what needs to be done going forward.

I would also add that the fact that Colin Bird is a non-executive director at BMR does NOT fill me with confidence. IMO, Borrelli and Bird together are even a more toxic mix, than each acting separately.

Don't give up hope. Regards.

BringMyReward,
I have received an e-mail from BMRWatch to say that they are still active. If they can get things in gear then it would be better if we joined BMRWatch. Otherwise your offer is appreciated and we should take you up on it. Also, appreciate your sharing any further news.

I think what is important now is that PIs come together as fast as possible. It's no point at this stage complaining about what has happened. Without a loud enough voice PIs will be simply ignored. Further, although BMR is de-listed PIs are still the major shareholders in the company. Any deal has still to have the approval of the PIs. Also, although JLP is a significant holder, it must be remembered that in any vote involving a deal with JLP, they will be a related party and will have to be excluded from the vote. If PIs can organise then they can shape/block any deal put to them. A shareholders group can make Borrelli respond to questions, AND more importantly those will be official communications and documented so he will not be able to duck or fudge the answers.

Regarding BMR providing updates to shareholders:
Borrelli has the BMR website to post any updates IF he so wishes. The fact that no news update has been provided so far is a measure of the distain that he holds PIs in.

The BMRWatch e-mail address is on their site:

https://
b m r w a t c h. s h u t t e r f l y. c o m

(Remove the spaces from b m r w a t c h. s h u t t e r f l y. c o m )

The e-mail addresses could be better displayed on the web-site, near the bottom !. (both are g m a i l e-mail accounts) I think you need to register on shutterfly first then e-mail the group with your sign-in e-mail address to become a member of the group. Need to also supply name and holding also.

Thanks KlueLoss,

I have emailed BMRWatch at (bmr.watch**********) and (bmrw.pool**********) to check if they are becoming active again. I will be joining if they do. Else another group will have to be set up.

Abertawe,

The problem is that one shareholder alone will always be at a disadvantage. However, a shareholders' group representing say over 5-10% of shareholders can have a tremendous effect in taking the BOD to account. As I pointed out previously with the example of the SOLO. Shareholders there have been responsible for BOD changes and making them alter how they deal with their PIs.

If PIs do not organize here then I am afraid that they will be made to take any crooked deal that Borrelli comes up with! The choice is up to us.

Regards

KlueLoss,
I checked out the BMRWatch site. It appears well set out. But I note that it was last updated in 2015.

Are you a member, and if so do you know what percentage of current shareholders do BMRWatch group's registry hold ?

If they have been inactive for the last couple of years will they be able to gear up to represent shareholders ? If so, then it would save time setting up the group.

Also, is this group related to the BMR Kabwe Group who have a discussion group on Google ?

Regards

E-mail response from Borrelli on 20th July

-------------------------------------------------------

Alex Borrelli <Alex.Borrelli@bmrplc.com>
To XXXXXXXXXXX
20 Jul at 10:16 AM

Thank you for your email

Of course we are addressing the issues you have noted

What makes you think we are not signing up a new nomad?

Of course we have been and are in discussions with a new nomad

We discussed with WH Ireland their position months before they resigned so we are fully prepared and had possible replacements in discussions

What makes you think we haven’t considered an extension to the AIM deadline?

Of course we are considering our position

BMR is fully aware of the issues you note; we have a team of advisers in place giving advice daily; and discussions have been held with AIM

Key matters of course are the licence and revising its conditions; as well as the listing; a new nomad; and fund raising
We are subject to the AIM Rules and so will announce, as required

Kind regards
Alex Borrelli
Chairman & CEO
alex.borrelli@bmrplc.com