Member Info for BringMyReward

If I remember rightly, it was David Galan's vision to sell Zinc in 2020. However, it was also his intention to grow the company quickly, but that seems to have slowed down somewhat?

I'd like to know what Mark's vision is for the company. I can't see him moving to ZM just for a takeover opportunity. I think he will want to grow the company as much as possible (hopefully organically) and then look to sell the business.

There's still a lot of potential here, especially if we can begin to win more clients in the US, particularly the big SVODs.

moneyhawk, I guess we'll find out but do bear in mind JLP will own 100% of the project at some point anyway, so why would they be worried about spending so much on a plant for the JV company?

I think an off take agreement between GLR and JLP for Star-Zinc/Kashitu will go ahead. JLP will be happy to take it because it will increase Zinc output, which in turn makes more money. It will also make the production process more economic and drive down costs.

I get the impression JLP holders aren't keen on the deal but it will only add to profits. In terms of the off-take agreement, I can't imagine GLR getting a raw deal or JLP buying the assets at distressed values. CB works for both companies so they will look after each other when it boils down to it.

Also worth noting that apparently BMR will benefit from Star-Zinc ore being processed at Sable via the Royalty. So again this indicates that Sable is part of the JV and not a separate entity. It would seem that BMR will receive 11% of all earnings/profits from any material/metals that are processed through the Sable plant.

moneyhawk, having re-read the RNS for funding of the Kabwe project, I can see that it doesn't mention the JV company, but it does mention 'Kabwe project'.

It doesn't mention the Royalty because at this stage it's only a right to a Royalty. I've also been told by BMR that it will be an 11% Royalty which leads me to believe the cost of Sable is all associated with the Kabwe project. If JLP wanted to charge a processing fee it would have been mentioned in an RNS already, but that was never part of the agreement between the two companies.

I can understand JLP being able to charge GLR to process Star-Zinc ore because that is a completely separate deal. The terms of the JLP/BMR deal have already been laid out via RNS's. I'm sure details will be clarified at some point but could take a while... Anyway, I'd love to see Kabwe producing in 2019, it's been a long wait!

As far as I know, JLP can't charge a fee for processing material from Kabwe. They might be converting/constructing a plant that is not at the Kabwe mine site but it makes no difference to a plant being built at the mine...

The Royalty deal is based on processing tailings from Kabwe. It doesn't matter how or where they are processed. JLP have to pay 11% of all generated earnings from Kabwe to BMR, obviously after they have recovered their capital, etc. etc...

Hi Visitor. The Star Zinc acquisition did complete. BMR/GLR Purchased it with a split of 15% / 85%. BMR have agreed to sell their 15% to GLR for £100k in cash and 15m shares in GLR. £50k has already been paid with another £50k and the 15m shares yet to come.

It could happen. ITN is private. It would probably save them some running costs but they have a greater chance of raising money on AIM. Unless they are planning to do a cheap placing then make an offer to buy shareholders out?

Would we get offered much?

Well said Bryn. I hope we all get something back. I'll certainly stay on the case!

Written words can easily be misinterpreted, it happens.

I'd say if you have an average of 5p or less you'll get your money back at least. Let's see what happens but it's likely to be years away.

I think you've taken what I said completely out of context. I was not being condescending and I was not having a go at investors in BMR.

As I've mentioned before, I have a similar amount of money invested and I too class that as being a significant sum.

I know which side of the fence I'm on. I'm on the side of the shareholder, hence why I'm running BMR Watch along with the other Committee members. I've put a lot of time and effort into it. It's just a shame some investors choose not to get involved.

Lastly, you speak like you have lost all your money but at the moment you've lost nothing. I'm not saying everyone will get their money back but I'd say those with a low average stand a good chance.

I might have been a bit harsh last night but I didn't mean anyone was foolish for believing in BMR. I meant people are foolish if they invest more than they can afford to lose. Obviously investors have to manage their own risk but also Directors have a duty of care towards shareholders, and sometimes they fail in that duty.

We have no doubt been deceived over the years but there are right and wrong ways of taking action. Harassment won't get you your money back.

I'm sure some have lost a lot and I can understand them being angry about it.

Personally I wouldn't risk it all on an AIM company, no matter how much of a dead cert I thought it was. If people have lost homes etc. I'd say more fool them for risking so much on an investment in the first place. I know things should have been different for BMR but there are never any guarantees when it comes to the stock market. Only risk what you can afford to lose.

I spoke with him earlier today. The shareholder Circular should be out by 6th May. It will be posted to shareholders and will go up on the website.

Apparently the change of address on Companies House relates to AB’s personal details. I thought perhaps they had moved premises as I was told they will be moving into a cheaper office at some point.

The reason for the address change is due to some shareholders targeting AB and his family at his home address. I know some people are angry and they may think they have lost money but it is a little low to attack him personally and involve his family. BMR Watch are trying to support where possible and we don’t condone that kind of behaviour. I would advise whomever is doing it to please stop the harassment.

I believe we will list under the LSE main market with a standard listing. Liquidity is a bit better than NEX and also allows you to raise funds easier. It's classed as the main market and there are different routes like premium, standard, etc.

"The Standard segment is open to issuance of equity shares, Global Depositary Receipts (GDRs), debt securities, and securitised derivatives that are required to comply with EU minimum requirements. A Standard Listing allows issuers to access the Main Market by meeting EU harmonised standards."

https://www.londonstockexchange.com/companies-and-advisors/main-market/main/market.htm

I think we will end up re-listing closer to 1p. You never know it could move up pretty quickly through.

I'd say we're a few months away from coming back to market. We won't be on AIM either.

Sorry, 3rd link won't work.

New office for BMR – Salisbury House. Very up market. Much nicer than 35 Piccadilly and apparently £500pcm cheaper. Have a look around…

https://beta.companieshouse.gov.uk/company/02401127/filing-history

https://www.workspace.co.uk/workspaces/salisbury-house

https://www.google.com/maps/@51.5174243,-0.0872147,3a,75y,307.77h,76.12t/data=!3m6!1e1!3m4!1sAF1QipP6C2xEINLi2lnAqsws21Ps0bYC7dFl7BcvYLi2!2e10!7i7092!8i3546

Hi 34DegSth, I'm not 100% certain on the details but according to CB there is a contractual obligation, although I don't see it taking effect until 2020.

The reason I mentioned Kashitu is because it contains high grade Zinc which will mix nicely with the tailings at Kabwe. More importantly, according to CB, there is also Vanadium present at Kashitu. It makes perfect sense to introduce this ore first?

Also worth noting that JLP will only be producing 8k tonnes of Zinc per year from a 40tph plant. That's quite low compared to Lead production forecasts, so they will definitely want more Zinc ore from SZ/Kashitu at some point in the future.

When BMR entered into a JV with GLR for Star-Zinc, part of the deal included an off take agreement to introduce ore at Kabwe. The deal still stands but now GLR will own 95% of SZ and obviously JLP have taken over operations at Kabwe, which means they will be contractually obliged to take ore from SZ. It makes sense for both companies.

From what CB said in the video, he will likely drill Kashitu first and look to use Zinc from there. It’s at the Kabwe mine site so it’s only across the road from Sable. I’m guessing they will enter a separate off take agreement for Zinc from Kashitu. Star Zinc will probably be another year away from production.

“concurrent with execution of the joint venture agreement, BMR and Enviro Zambia shall enter into an off take agreement for processing of ore from Star Zinc at Kabwe, such terms to be determined as soon as reasonably practicable following completion of the PEA to reflect capacity production of Zinc from Star Zinc, and relevant grade and resource life of the project set out in PEA, which BMR intends to process in conjunction with its Leach Plant Residues”

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMR&ArticleCode=pq7liis6&ArticleHeadline=Joint_Venture_Agreement