Member Info for BringMyReward

Yes Bryn, many shareholders have a lot of money in this, probably more than we should have put in… I would disagree that we’re unlikely to get anything back, but the next “deal” on the table will tell us more. I think many would be over the moon just to get 50% of their money back now, but we really shouldn’t be in this situation and thinking like that. We invest with the aim of making a profit, we don’t stick our money in hoping for only half of our capital back.

This epidemic has put many people into financial difficulties, so I’d imagine some shareholders could really do with access to their money. Thanks to Borrelli, we’ve been unable to access our cash for over 2 years now, and we still are left with uncertainties.

He needs to deliver a fair deal for shareholders… we live in hope!

According to the accounts, Borrelli took £118,800 in “fees” over an 18 month period (up to Dec 2018). Assuming he’s taken that amount again since then.

I remember when Borrelli would do presentations and he would say “I’ve put in more than I’ve taken out” – I wonder if that’s actually a true statement to this day. He keeps taking out, so I’d imagine he’s got his money back by now. Shareholders haven’t got the luxury of being able to take a salary from BMR. Even worse, he’s essentially paid himself to destroy shareholder value for the rest of us.

Unfortunately, many shareholders have given up. I've not given up. If I'd given up hope of getting any money back, I would have moved on from the Watch and BMR by now.

You don't have to listen to us. You're no longer in the Watch so you can continue supporting Borrelli and his plans. I'm not driven my hatred, I'm driven by hope of salvaging something from this mess. I don't see Borrelli being able to reverse what he's done, so I guess it's up to shareholders to try.

Of course we're harping on about it. Borrelli lost shareholder's money to scammers (ACI). We needed a finance deal to fund the plant build, whether we partnered up or not. If we had a few million in the bank, perhaps JLP wouldn't have been in a position to taken advantage of the situation.

It's hard to forget about the past when shareholders have lost thousands at the hands of Borrelli and the sheer incompetence and mismanagement by the Directors. You keep supporting them if you want, but it's not going to help you get your money back.

3card, yeah good point. I bet ACI and past litigations have been swept under the carpet. At one point JLP had mentioned they were helping in trying to recover funds from ACI. Talk about falling for a classic African con "Send money to receive more money in return" - These are the type of idiots we trusted with our money.

Are you sure the deal is done? Here's me thinking it would need to be put to a shareholder vote. There's always a plan b...

Fellowship, what plan are we actually on now? We’ve had…

A) Use ACI funds to build a plant
B) JV with JLP - split profits 60/40
C) Hive down Royalty to sell in a few years
D) Copper JV with Revelo and listing
E) looking at exploration opportunities with a view to re-list
F) ???

Plan F… Is that ‘F’ for ‘FAIL’

Since you seem to know all about the plan, maybe you can tell us which AIM listed Co it is… Is it JLP, or GGP? lol

Hi Scottie, here's what he put...

"Thank you to our shareholders for your long-suffering patience and support and also to BMR Watch for organising so many messages - our next update is imminent"

https://twitter.com/BMRGroupplc/status/1293937779689295874

Well, we've managed to get Borrelli to dust off his computer, log onto Twitter, and post a sarcastic Tweet for shareholders - he must have been gritting his teeth when he wrote that.

I'd still like a response on the letter I sent to JLP. I'll be chasing up via Email if I don't...

Thanks to all those that took part in sending the letter. Thanks to Merlin etc. who suggested it in the first place, and a special thanks to aim-sickness for taking the time to draft the letter for us.

Sell the Royalty to the listed Co for shares. Ok, you could do that, and you still get to retain the Royalty in the Co you own shares in... But then the Co can do what they want with the proceeds, potentially using it for exploratory work. Basically the money could be wasted and we still see no value.

On the other hand, if you held the Royalty in a separate Co on its own, we can all benefit from the proceeds, and potentially sell it for a much higher price at some point. All cash would go to BMR shareholders, not towards Director salaries and drilling costs.

If it's as valuable as BMR/JLP make it out to be, then why even sell it. Keep it and return money to shareholders over time.

So you really think JLP will want to pay out on the Royalty for the next 15-20 years? They are likely to want the Royalty gone, which would mean making an offer to BMR. Why do you think BMR have recently registered their office at the same address as JLP's London office? I don't think it's a coincidence that JLP are looking to exit from BMR and the Royalty is due to be triggered shortly, once our licenses and assets transfer to JLP.

I don't mind having a listing or reversing into another Co. as long as it's a fair deal for BMR shareholders. I'm assuming Borrelli won't be involved in any new venture. In fact, I doubt he'd ever be able to run a listed Co. again given his track record. His career should be over after what he's done to BMR and its shareholders.

Apparently we should all be thanking him for giving away our prize assets in return for the Royalty - how can we thank him when JLP have quite clearly done everything in their power to ensure BMR shareholders see little to no return from the Royalty for the foreseeable future. Don't forget JLP originally said they would fast track the Kabwe project. The only thing that was fast tracked was buying Sable and every Copper dump they can get their hands on in Zambia... Talk about getting robbed by two sets of Companies.

Not sure what you mean by that question? If you're referring to shares, I thought Borrelli sold all our JLP shares... We still own 24.6m shares in GLR worth £197k.

Cheers aim-sickness, I've responded on BMRW. I think we can get this circulated for the weekend. Hopefully letters and Emails will be going out to BMR/JLP next week...

JLP RNS says they plan to build a new Copper processor in Zambia within 4 months. Somehow they can do this in a short space of time, in the middle of a pandemic – yet they put the Kabwe Zinc project on hold apparently because of the pandemic . Just goes to prove they have dragged their heels on the Kabwe project for good reason. They didn’t want BMR to benefit in any way with the Royalty.

According to JLP, the Kabwe licence was being renewed end of July. I would have expected an update by now – perhaps they are waiting for the licence and assets to transfer first? The 2 year deadline for acquiring EML is up in a matter of days. Once the licence and assets transfer from BMR to JLP, the 11% Royalty must be put in place.

Zinc is starting to recover strongly back towards $2,500 a tonne. Lead is also recovering nicely and Vanadium is slowly moving back up from lows. Surely JLP have no excuses but to get the project going this year. I can only see metals moving up strongly over the coming years.

Borrelli Tweeted almost 4 months ago saying BMR were looking at certain exploration opportunities with a view to establishing a re-listing. Judging by the silence, can we assume they have failed to find a suitable deal, or are they waiting for the Royalty being put in place so they can do a deal with JLP or another party?

I think it’s time we get this letter finalised and ask all BMR shareholders to send it to Borrelli/Bird/JLP etc. We won’t be forced to accept a poor deal. Shareholders will clear out the Board and take control of the Company if necessary.

3card, with hindsight GGP would have been a great buy a few months ago. But you are right, avoid anything where that man is involved. I'm puzzled as to why he's still allowed to operate as a Director of any firm. It won't be long before he starts getting sacked from his positions, starting with BMR I think!

Sorry to hear that Fireball. It seems very likely there will be an AGM this year, forced or not. I still can’t believe Borrelli was telling shareholders that BMR has never been in a better position. If that were the case, we could re-list right now at a premium to where we left off. The reality is always the opposite of what Borrelli says. Because JLP have done nothing with Kabwe since getting involved, it does feel like we’ve been left in limbo whilst they sort their sh*t out.

JLP should have focused on bringing the project online ASAP (like they promised their shareholders). Instead they went and purchased Sable and began producing the Copper tailings they got with the plant. It seems like this was done deliberately, just to weaken our negotiating position. I’ve got a feeling Borrelli will be writing to shareholders shortly, informing us that JLP have offered a few quid for the Royalty, and we must accept it, otherwise we are going bust… And Borrelli says we’ve never been in a better position hahaha.

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3card, I don't think there will be many liabilities. If anything it will mainly be wages, which should easily be covered by current cash, and we have a few hundred grands worth of GLR shares.

I'm fairly certain not a lot has been going on over the past 2 years - probably all part of the plan to screw us over. Imo, Borrelli has proven himself to be an incompetent buffoon, it's time he fixed this mess that he created once and for all. He doesn't get to throw in the towel, it's his job to create shareholder value. If he doesn't, he faces repercussions. Let's see how he likes it when multiple shareholders start Emailing and writing to him. He can't ignore us and we're not going away.