Member Info for BringMyReward

Welcome aboard, Mark...

Browning said: "I am excited to finally be starting at Zinc. It is highly regarded in the television sector for making some of the most high-end content in the market and is well placed given its impressive footprint in the nations and regions.

"There is plenty of growth potential in the TV businesses, both domestically and internationally, and through Zinc Media's digital arm, Zinc Communicate".

https://www.sharecast.com/news/aim-bulletin/zinc-media-nominates-mark-browning-as-ceo--3857284.html

If he doesn’t deliver something for BMR shareholders then it certainly won’t look good for him. In his mind, he’s done nothing wrong and believes that BMR is in the best position it’s ever been in. I suppose that’s a matter of opinion. Yes, we have a right to an 11% Royalty, and the business is still going, but shareholders need some evidence and reassurance that things will work out as stated.

Even though he failed to deliver Kabwe by himself, he will still benefit from the Royalty because he’s a shareholder in BMR. He will also want shares in the new company as back payment. None of the board are currently taking a salary.

We were certainly let down by management, and that’s an understatement. Things could have been different but we were in a financial mess with no money to build a 5tph plant, let alone a 30-40tph plant.

I was given hope when BMR signed the JV with JLP. I thought, ok, we are giving up 40% of the profits but a plant will get built and we will still be making money. JLP realised a bigger plant was required, although surely this was known from the moment they got involved? I think the JV was just a story which enabled the BOD to stall for time until we were booted off AIM. Then the real deal was signed, effectively giving JLP 100% of the asset in return for a Royalty, or should I say, “right to a Royalty”.

Having said all of that, we can’t change the past and I think we are lucky that we didn’t lose the lot. If it wasn’t for JLP showing an interest when they did, it could have been game over. I’ll take 11% of something rather than nothing any day... It might take a few years but we should benefit from the Royalty. It’s also likely that BMR will re-list with new assets and a new CEO. With a bit of luck, the listed company should enable shareholders to get some of their money back…

Personally, I’m more interested in the Royalty becoming reality, and it is the BOD’s responsibility to protect it. It’s also BMRW’s duty to ensure we get maximum return from the Royalty. We will not accept a cheap buyout!

Have a watch of this presentation for GLR by Colin Bird. It really highlights the fact that we should have kept Kashitu/SZ. Apparently Kashitu contains Vanadium??

About 2 minutes in, Colin says he started looking at SZ around a year ago, which is around the time we were suspended on AIM after losing the Kabwe licence!

Credit to Troajan:

https://www.youtube.com/watch?v=WtqQv_Rb-SA

Eric, that’s pants mate! Lol.

Regarding the Circular. No specifics but I was told it was being looked at again by lawyers and it should be advanced fairly quickly… That was 4 weeks ago. I’d say there has probably been a delay with the acquisition part of the proposal.

Rosewall, it will probably go ahead but at this moment in time it’s a binding exclusive heads of agreement. However, the exclusivity period ran out 28th Feb and there has been no official update to say it’s been extended. GLR already paid BMR £50k upfront as part of the agreement.

It’s possible that JLP will partner with GLR on the SZ project to help fund it. Otherwise GLR will end up with a billion shares in issue with all the placings they would need.

We are supposed to be getting 15m shares in GLR. At the time of the announcement they were valued at 1.15p each, now less than half of that! The SP will likely continue downwards and more placings will occur. Shocking deal for us!

The deal should be cancelled and we retain 15% of SZ. The Trouble is CB will drag his heels and keep throwing capital at the project. It will require another placing or two and probably a partner to fully finance… But remember folks, we don’t have the money to throw at SZ, but we can afford to make acquisitions and re-list...

Explanations on a postcard!

It seems to have vanished, along with our investment lol.

I'm sure the Circular is a round somewhere - Excuse the pun!

It's been very up and down for BBSN so at least there has been opportunity to trade it. ZIN however has pretty much fallen consistently for well over a year.

Hopefully we will see a BBSN style rise for us this year. Just a little over 2 weeks to go until Mark Browning starts and I'm expecting him to do big things for us. Good luck all.

Fallen by over a penny since their financials. CFO sold a chunk of shares after the results and their CEO quit today with immediate effect. Couple of red flags right there?!

Hi hairydavey, the reason it doesn't mention that the Royalty is now 11% is because the Royalty currently doesn't exist. BMR just own a 12.5% stake in the project and the Royalty doesn't come into effect until JLP (or another company) elects to acquire EML.

They also missed out one tiny detail about an initial 5% Royalty on distributable earnings before the 11% Royalty kicks in.

I think CB left out some important detail regarding the Royalty... We also get an initial 5% Royalty on distributable earnings before the 11% kicks in.

"Apart from an agreed initial 5% Royalty on distributable earnings, BMR will only be entitled to a Royalty payment once:

(a) the Project is fully operational and has generated distributable earnings;
(b) Jubilee (or its nominee) has been repaid in full its capital investment and its agreed capital rate of return of 30% on the first GBP 2,3 million invested and 20% on any further capital invested."

Just had a quick skim read of their financials from this morning. They don't look that impressive for saying they are valued at £20m.

ZIN appears to be undervalued in comparison. Only a few more weeks until Mark Browning starts. Hopefully plenty of good news in the pipeline this year...

I think £2.5m is fairly conservative, depending how metal prices fair of the years... Let's just say it's a very educated guess and I'm talking roughly net to BMR per year.

You have to remember that ore from Star and Kashitu will produce a lot more Zinc, and we benefit from that through the Royalty.

I can't really comment too much on the SP of the proposed new company, you might get a couple of pence if you're lucky. However, the Royalty company will certainly be worth multiples compared to what BMR was originally worth.

The plan is to hive out the Royalty or separate it, so that it doesn't dilute current shareholders. It will be completely separate from the listed company and won't be dependent on its performance.

Ok, maybe I'd accept £31m and I'd take the 9p per share and run lol.

So....based on the below, if the Royalty is worth £50m over the LOM (20 years), it really puts things into perspective.

I would not even accept an offer of £10m to sell the Royalty, as it would only value it at less than 3p per share. I would rather have the dividends for 20 years because no offer would ever come close to the £50m+ that it's worth.

lol yeah I think it's very important to ring-fence the Royalty (when it's been activated) and also keep it for as long as possible (unless an extremely good offer is made to buy it).

For example, if we say it earns us £2.5m per annum (for 10 years minimum), divide that by the number of shares in issue, it makes around 0.75p per share. Now times the 0.75p by how many shares you have:

e.g. 1,000,000 x 0.0075 = £7,500.

Basically every 100k shares you own would earn £750 a year based on £2.5m net income.

The life of mine should be closer to 20 year when you factor in ore from Kashitu and Star-Zinc.

I don't doubt that the JH plant would have worked but JLP's design will be better, there's always room for improvement. Not only will the design be better, it's also a much larger plant so it's bound to be more efficient. They should also be able to produce their own sulphuric acid which is needed in the process, and apparently quite expensive to buy at the moment.

Hi Jeremiah, before the company's shares were suspended from trading on AIM we had 335,710,864 in issue.