Member Info for BringMyReward

According to the final results, GLR made a loss of over £1m in the last financial year. They had circa £0.5m in cash as of end of March 2018. They must be burning through £50-80k per month, especially with their expenditure on Star Zinc drilling.

It looks likely that they will need a placing to raise more money soon. They also have to set aside £100k for BMR, plus issue another 15m shares as part of the recently announced deal. The question is, how do they raise money above 1p? How do they expect BMR shareholders to except shares in GLR when it's at all time lows, and no reason for the price to rise in the near future?

Actually, I think you'll find that BMR are subject to lock-in conditions with the 15m GLR shares. Also this is not a done deal, and could be another 4-5 months until it goes through, if it goes through at all...

"Lock-in

1.9 BMR is undertaking to Galileo that, without the prior written consent of Galileo (acting in its absolute discretion), BMR will not during the restricted period (being 12 months from completion in respect of 75% of the Consideration Shares and 6 months in respect of the remainder), dispose of the legal or beneficial ownership of, or any other interest in, the Consideration Shares."

It was actually $591,600 paid by GLR, I typed the 9 and 1 the wrong way around - long day!

Also worth noting that the VAT and PTT came up to $260k in total, on top of the $1m paid for SZ, which it seems BMR paid for! Now try explaining how we're selling SZ and the LSML for $360k ??

Hi All,

As I’m sure many of you are aware, this deal stinks for many reasons! GLR paid $519,600 for their 85% share of SZ – BMR paid a whopping $668,400 for 15%, this figure also included VAT and Property Transfer Tax. Now Borrelli wants to sell SZ, and the LSML for £275k, or $360k!!

He’s almost selling SZ for half of what we paid, plus chucking in the LSML as an added bonus for his mate Colin Bird! How can one justify this when we know drilling results have been pretty good so far at SZ, plus he has spent shareholders money drilling at Kashitu (LSML) which has also been proven to contain high grades of Zinc?

Note that is was Andrew Sarosi, director at GLR that added comments about the deal at the bottom of the RNS. Andrew was a Director at JLP until he resigned on 21st June this year. Seems like all this was planned out, and the shuffling of Directors is being done to avoid ‘conflicts of interest’ surrounding these related party transactions…

TerryDactil, it's true that the SP performance hasn't been great, despite a lot of improvements that have been made, and the fact that we are now a profitable company. I think management have been working hard to turn the company around, and they have done this. The question now is, can they keep building on that success?

It seems they know what must be done to make the business stronger and increase revenues and profits, I'm sure it won't be easy but we are certainly getting there. Providing Reef and others managed to do better in the second half of the financial year, I think profits would have increased. Even a small increase will show that we are heading in the right direction. It will then be a case of winning bigger commissions, signing lucrative deals, and perhaps another acquisition or two, then we might become acquired ourselves... That's the plan anyway!

rise didn't last very long. It spiked to almost 3p on news last week, now back below 2p again. The problem is they haven't got any financial figures to back up their valuation. Good for trading, not so good for investing at the moment.

https://www.directorstalk.net/interview-jubilee-metals-group-new-revenue-stream-opens-up/

Not too much optimism in my post, just being realistic with my views.

It's hard to say what results will be like. Not expecting them to be super great but they won't necessarily be bad.

Reef is likely to be a bit of a drag as stated in the interim results "Reef Television had a disappointing first half and is expected to fall significantly below internal budgets for the full year". However, we do have Tern which seems to be churning out plenty of content, so hopefully this will plug any gaps.

Since then we have had some large commission wins, and the exclusive US deal should start to bring in extra revenue.

I usually have a top up close to results but it's not always been a great move. I'm tempted to wait and see this time. If results are good, there's a chance I can still buy some at a reasonable price. If the results are bad then I'll wait till the dust settles and evaluate to see if it's worth averaging down or not. Circa 3 weeks to go, hope to see a positive update before then.

VIG, good to see you around. Have you joined BMR Watch? We could do with your shares going towards our voting power.

Cheers,
Bring

Personally I haven't contacted him. We have had some communications with him via BMR Watch. We are close to sending out another shareholder letter.

Don't listen to this guy. Every so often he makes out there's some sort of company fraud going off. He did the same with JLP early this year, also claims to have bought JLP shares, sold them, then bought them again?

I think Star-Zinc could be a great project. I believe Colin said it could be a stand alone project, feed the ore into Kabwe, or maybe both. It will need loads of money chucking at it to build a plant onsite to process the ore, so probably best to truck or train it to Kabwe and have it processed there. Simple and cheap. I hope the SP picks up for you guys.

I think they can pull off a Netflix or Amazon deal for sure, just a matter of time. I don't mind waiting, as long as they do it in the next 6 months lol.

That's a big one. Could explain the recent fall back.

I would like to see this move up a bit more before results, otherwise it might not be a good sign. Results will probably be out in 3 weeks so not much time for more news flow, but some could drop anytime. News would probably push this north, if not it's a case of waiting for results and hope they are good enough...

There is a second letter that has been drafted and will be sent to BMR in the coming days. If you'd like to view it just log on to BMR Watch.

Would be nice to get your opinions and see if there are any further questions that we could add.

"There is a tide in the affairs of men. Which taken at the flood, leads on to fortune..."

Is the tide about to 'Tern' ?

For those interested in contributing to a legal fund - There is a poll running on BMR Watch to gauge how many people would be willing to donate, and how much. At this stage you don't have to commit to anything, we're just interested in potential figures.

Also, if you have already posted your shareholding on BMR Watch but not officially confirmed it, could you please log on and do so by following the instructions in the discussion section? We need to increase our official shareholder voting power.

Thanks,
Bring

Danlaur is a confirmed committee member of BMR Watch. He's proven his shareholding and Laffer, (site owner and committee member) has done his background checks.

3card, have you signed up to BMR Watch and confirmed your shareholding yet? We need as many shares pooled as possible so we have a fighting chance of making a change for the better.

Yes, you never know what's lined up next, another acquisition could be on the cards. I'm surprised we haven't had any further news on commission wins yet. We have less than 5 weeks until results are out so there's still time...

In the meantime, there could also be opportunity for a cheap top up! Best of luck all...

We all make mistakes, Rofert. You must have made one or two in your life, otherwise you wouldn't be posting here...