Member Info for BringMyReward

3card, we can only be diluted to a minimum of 11%, should JLP's capital spend exceed $15m on the project, and only if they acquire EML.

JLP's right to acquire EML will give them 100% of the project (currently 87.5% / 12.5%) and then the 12.5% turns into a Royalty, or 11% as mentioned above.

It's pretty obvious that JLP will acquire EML and our 12.5% interest in the project will end up as a Royalty rather than a share in the project.

5 Tweets by our CEO today...It seems that more than one shareholder has been making "slanderous claims". At least it has brought about some much needed communication from BMR Group to its shareholders.

Positive news about protecting the Royalty etc. but we need full details which will be released in the circular. I'm not keen on acquiring a licence and I'm not even sure I'm keen on re-listing anymore. We could save a lot of money by remaining private and just paying back shareholders over the years via income generated by the Royalty.

Has Borrelli been selling down our JLP shares in anticipation of making an acquisition?

Hi again Vig, regarding an EGM or "General Meeting". I believe the process of setting one up isn't too difficult, however, there are other more complicated matters. It's worth noting that shareholders can put resolutions to the board, but would require 50% of the votes to win from all voters that attend. Special resolutions require 75% of the total votes.

"If he bothers to read the bb, I don't want him knowing what I'm up to."

What have you been up to, Eric?? I hear that you have been spending many a late night in the Library (mostly in the adult section lol). Allegedly, you have been taking a lot of books out, all of them based around plastic explosives, wigs, and how to skin a Weasel...Alive.

Hi Vig, I have a bottle of Jack Daniels Whisky in my cupboard that is 5 years vintage. I might take a similar vow and only allow Whisky to be poured from the bottle, should dividends from the Royalty come pouring in.

If Borrelli stabs us in the back whilst we are down, I will then only open the bottle once he's been legally prosecuted for crimes against shareholders.

Either way, I want my Whiskey...

Good point, but if the company remained private there would be no need to issue new shares.

If Borrelli was to re-list BMR and hive down the Royalty as planned, then I feel only shareholders that were invested pre-de-listing should benefit from the Royalty.

Obviously if the company remained private, shares can still be bought or sold, although I imagine the process would be difficult and long winded.

I personally proposed the following to Borrelli, funnily enough I didn't receive a reply back...

"I don’t have any proposals for generating cash, although I do have some proposals on how to create some shareholder value for current holders.

1. I would keep the business private with fewer Directors and lower running costs.

2. I would liquidate Jubilee/Galileo shares when the market price is more favourable.

3. The Royalty would be kept for several years, returning majority of the cash proceeds to shareholders by way of dividends.

4. I would then look to sell the Royalty and close the business, returning all money to shareholders as a special dividend."

Same for me, all in my ISA/SIPP.

I hope we can get something back. The only way I see that happening is via the Royalty.

20+ years of Royalty income, all cash paid as dividends to BMR shareholders on the register before the company was de-listed. Yes please...although it sounds too good to be true for Borrelli to deliver something like that for shareholders!

Rosewall, from what I've read, I don't think JLP even responds to their own shareholders, so I suspect you are right, they would never answer our questions if we contacted JLP directly.

At least with Borrelli you can pick up the phone and get a response, the trouble is, half of what he says is probably a load of B*****.

JLP might be the largest single shareholder in BMR but I don't believe for 1 second that they care about BMR or its shareholders (apart from the Royalty).

We have had discussions with Colin Bird who is also Chairman of JLP. We requested another meeting early Nov but Borrelli said they could not commit to another meeting date during 2018, yet we gave him a good 5 weeks notice to set one up. It's worth noting that they could have arranged a meeting around 6th December, when the likes of Colin and Leon were in the UK for the JLP AGM.

We have very recently requested another meeting for the end of this month. If Borrelli fails to accommodate, I can only assume he's got something to hide, as our questions become more and more in-depth and intrusive, and he will be met with further actions which may lead to him facing a large mob of angry shareholders.

Compared to the big bad world out there, what you are doing doesn't really matter. But when it comes to being a BMR investor, what you are doing is wrong. You are attacking those that are trying to help.

Yes, I get that you don't believe certain things. If Eric posted that he bumped into Borrelli in Waitrose and kicked him in the nuts, would you believe that? If you require proof from me or Vig, shouldn't you also require proof from anyone on here? In that case surely you don't believe anything that you read, so what's the point?

Are the "gloves" still off between me and you? Careful, I might get Vig to find out where you live... lol

I agree with others here...

Vig has had a lot of stick recently (it used to be me, still is sometimes). It doesn't matter what he does for a living. I don't care if he's the tooth fairy, he's had the balls to write letters to Borrelli's home address, and make contact with Pastor Lamaswala.

Those that try to belittle the one's who are trying to help should be ashamed of themselves. Do something more constructive with your time.

I forgot to add the terrible deal he’s done with GLR. £50k upfront, which supposedly we have already received? Another £50k once the deal is complete, along with 15m shares in GLR (currently worth £106,500). That’s £206,500 face value for Star Zinc AND Kashitu, yet Star-Zinc alone cost us $560k, and how much money did we spend drilling Kashitu?

He tells us we have no money to drill Star-Zinc and Kashitu, yet apparently we have the cash to buy two businesses??

Excellent post @ 00:23, Eric. I would like to add some thoughts and comments to yours, all speculation, of course…

I agree that Borrelli will make out he did a good job, even though we know he really hasn’t. Yes, he should have sorted alternative funding, then we might not have gotten into the mess we find ourselves in. I think the story of re-listing is a way of giving some shareholders hope. Behind the scenes I fear that all is not well and who knows what he’s plotting

Regarding WHI, he knew they were going to resign, and he made attempts to secure another Nomad, however, I believe this was just for show. AIM probably knew of his plans to dispose of the Kabwe asset, and therefore we would not meet AIM’s criteria to remain as a listed company. There is also no chance that his proposal of giving away Kabwe would have been passed by a shareholder vote, and I suspect you are right in saying that the asset giveaway was pre-planned, long before it was even announced.

I believe AIM rules were broken. As soon as JLP started talking about building a larger plant, we should have been informed. He didn’t tell us because he didn’t want his master plan to be put in any danger. Even WHI felt that JLP was taking too much control, one of the many reasons they resigned as Nomad. I had WHI on the phone, and they told me BMR hadn’t even informed them about the letter regarding the licence being at risk, again, lack of communication was another reason they resigned. Of course, They were not squeaky clean themselves, and I’m sure BMR and WHI will argue that one another was at fault, and won’t accept any blame for what has happened.

JLP took a 29.01% stake in the business for good reason. They could have easily taken control of the company if their plan to muscle us out of Kabwe didn’t go smoothly, but Borrelli ensured that it did.

We know the Zambian Government is corrupt and payments to Blue Square are part of that corruption, good luck proving that though.

JLP shares have been sold to fund the last payment to BS. Why wasn’t this paid in monthly instalments, as per the RNS announcement? What’s happened to all the cash we got from the legal settlement? Time to call an EGM and find out just how deep the rabbit hole goes??

Some of the shares are apparently still subject to the lock-in agreement, so I don't believe that all shares can be sold just yet.

Hi Vig, should we get a meeting I'm sure we will be discussing something along those lines. I recently sent an Email to Borrelli with similar proposals to yours.

Thanks Eric, I do try lol.

We might need a large batch of Viagra to raise this mother F.

Hi Vig, thanks very much for sharing your conversations. It is very interesting that Borrelli has responded in the way he has, you've obviously got his attention, well done for that. Also very well done for getting Michael Lamaswala to contact you, very interesting indeed.

I have just this minute sent out a meeting request to the BMR Directors through BMR Watch. We hope to hold a meeting with him this month. I have shared this on the BMR Watch site.

Hi Vig, let us know if you get a response.

True, they might end of up with the Sable Zinc plant, although I'm not sure if JLP has officially announced that it is Sable?

If they don't then option 2 will certainty be the slow route. I've seen JLP doing a lot of talking about Kabwe but where is the actual progress? Hopefully they can announce something soon.