Member Info for BringMyReward

Interesting... No mention of the Vanadium circuit and now they expect to conclude the design parameters during Q3, which could be anywhere up to the end of September (we were told end of August). It just keeps on getting better.

Good to know you're still adding here. I am looking to add another half million but it might cost me a bit more now you've pushed the SP up haha.

Vig, here are some figures based on a 15tph plant. This also includes Lead and Zinc sales and these are rough calcs. I wasn't going to bother posting anything like this up until we find out where we stand, but I have a little time on my hands so why not...

Sales: $105m (based on LME prices)
Admin/production costs: $18m (based on $120 per tonne processing costs and about $2m admin costs, could be more than this)
40% JLP share: $35m
60% BMR share: $52m

Taking off mineral royalties and 30% corp tax leaves us with a post-tax profit of $35m and a pre-tax profit of $50m (or £38m). Times the £38m by say 8, and this gives a rough MC value of £305m.

Not bad if we can get there but we still have a lot of work to do. Let's get to the end of this month first and see where we stand.

Whilst we're bragging about boats, I was on board the Cutty Sark on Friday, also had a cruise down the Thames lol.

What can I say, we're kind of a big deal over in London.

With a 5tph plant we would produce around 450 tonnes of V per year which would sell for roughly $18.3m.

A 30tph plant would produce 2,700 tonnes per year worth around $109.8m in sales.

We were told we have 45k tonnes of V which is worth a total of $1.8b at today's prices!

I'm now on my way home from London. I didn't have time to call in at BMR offices but I passed close by a couple of times. Went in the National History Museum and saw the skull they found at Broken Hill (BMR mine at Kabwe). As I was staying in the financial district of Canary Wharf, I kept my ear close to the ground for any BMR rumours... I heard that news will come next week, if not the week after, if not definitely the week after that! Enjoy the rest of your Sunday folks. (Well done France!).

Will do Mike, I wonder how much it costs to list on there compared to AIM. Also wonder if AB has come up with a plan should we be delisted. I can think of a few things... I think one of my other investments is dual listed on AIM and NEX (ZIN).

It's possible that a Nomad will be signed first to give us the extra week or so.... But, it would make sense to announce all 3 together before the 30th (Nomad, placing, relisting). That's the most likely outcome if you ask me.

Had to use Jubilee station platform 6 to get to my hotel in Canary Wharf. Walked passed the FCA building and took a couple of pics from the outside. Next minute this guy came up to me wearing a black suit flashing a badge, asking what I just took pics of. No joke lol. Apparently some places don't like you snapping pics of the reception haha.

Maybe Mike should stick to the WRES board, I hear they have found gold over there... Not that I'm complaining, I have her on filter anyway lol.

Lol, I am actually on the way to London. If I pass by Picadilly I'm tempted to take a selfie outside the office and Email it to AB.

Yes, will push him about extension/NEX listing if the worse happens. I'm on my way to London, might pop in to 35 Picadilly and join in on the JLP meeting. Perhaps give AB a kick in the nuts from Eric. I'm hoping we've made some good progress towards relisting by the back end of next week.

allianze, Good points. I didn't ask any further questions on the Nomad, not sure if he would have told me who they are but I could ask next week why we haven't signed them yet. I'm guessing they could still be doing some due-diligence, hence the trip to Kabwe next week.

I will ask about the AIM extension although I know he is keen to get back to trading this month. It does seem like a stretch so I agree, an extension would provide a safety net if it's possible and if it's granted.

I will also ask about a Q & A session, I would imagine he'll be happy to do one if everything goes according to plan. I will also ask about getting some photos of the plant if JLP are happy to provide some.

A shareholder group was mentioned here about 8 weeks ago but nobody really seemed interested. It is probably a bit short notice now considering we have about 2.5 weeks to get a Nomad in place and 3.5 weeks to relist.

You're all welcome!

Cheers Foggy, I guess it's just words at the moment and everything needs an action and a successful outcome until we're home and dry...There's a lot going off in the background though and I know both BMR and JLP are doing their best to get things sorted in time. Realistically we have about 11 working days to get everything in place.

It does seem a bit of a stretch but things are looking up and JLP will not want to see BMR delist. I still think this could be a great year for investors and everything could start to come together nicely. Just need to get back to trading with a decent sum in the bank... Keep the faith (as Jeremy would say).

I questioned him further on the 3 investors, it stated in the JV signing RNS that it was anticipated that the investors wouldn’t commit until JLP made their decision to move forward, so how are you going to persuade them to invest before that? He actually had a meeting with them today, they remain committed to invest, and they will only invest once the licence conditions are clarified and JLP have committed… Once the ministry confirms then JLP will be happy to commit the rest of the cash (providing licence conditions are satisfactory)… So it would seem that JLP will need to push the ministry for answers surrounding the licence (by end of month), then they make their decision, and then the investors will commit, then we need to sign the new Nomad and apply to AIM to relist...(Sounds easy right?)

We have a new Nomad doing a lot of work for us at the moment and they will be visiting Kabwe next week so hopefully everything should be lined up ready for the end of the month. He has a meeting with JLP tomorrow, he’s spoken with Blue Square today, sounds like everything is being lined up ready. He invited me to call for another update next week, so I’ll probably call again next Wednesday/Thursday if we haven’t had any news. Enjoy the rest of your evenings!!

Moving the conversation away from football… Just spoken with Alex. He told me to give him a call this week for an update. He said things are a little more complicated than he first thought so things won’t start to happen until next week now…

Asked him if JLP are happy to keep funding the plant build between now and August, would they charge us any extra for it? He said they are kind of committed to bear the cost but it’s been difficult to get money to flow quickly from them to cover what’s happening out there, but they are covering costs. They are reluctant to put too much in as they are still waiting for the ministry to clarify the terms of the licence first. They will pay off creditors for the build but they won’t invest the first million until they get the terms of the licence clarified.

I asked him how do JLP feel about BMR potentially delisting, they own 29.01% of the company, are they concerned? He said that’s the good news, they are 29% holder so they want to achieve relisting for BMR and it’s in their interest…

I questioned him about the legal preceding’s we have going on, what’s happening with those? The other side’s lawyers seem to be doing a lot of prevaricating, but they have offered a chunk of money, we are trying to push for a higher sum. As soon as it’s closed we will get payment within 10 days after, it’s imminent and it’s a six figure sum (lower end). Asked about the $109k ACI owe us, they said they will pay and he is chasing (I reminded him to chase them up again). He’s in touch with lawyers but not direct with ACI. He’s had a chat with JLP and they said they will also chase up for us if we send them the details of the agreement. He’s not going to let them off the hook… (A bit of extra working capital once we get it!).

WKS? Are we still selling it? JLP are going to look at it, we were going to mix it up with concrete but nothing’s been done with it since the licence issue thrown up some concerns.

Since we’ve been suspended have you done anything to reduce overheads to save money? Yes, we had a consultant that was mainly focused on the Portugal project but that has been put on hold. He’s not taken his salary for a bit, and we pay a financial officer, so there’s virtually nothing to pay in the UK, he’s also stalled a few creditors.

I guess they need to use every excuse possible to try and convince shareholders we are finished, we've heard it all lol. This is the same guy that said JLP would buy BMR and then said nobody would buy us. If he could stick to one story he might be granted a little credence.

Don't listen to MM, he's just bored of his GLR investment going nowhere fast so he's come here to try and tourment investors. He can't come up with an explanation as to why BMR are "toast". It's always some dumbass excuse to do with pollution, a pretty pathetic excuse really.

Nothing's changed with the JV, I'm pretty certain of that. Nothing likely to change for now. Providing we can relist with a placing, and fund our share of the plant...