Member Info for BringMyReward

There is only one creditor as far as we are aware. What expenses would those be?

It might even be disclosed in a holdings RNS. I'm surprised they didn't mention the price as it could be deemed as price sensitive.

I was quite certain they would be sold off in one go. Interesting that it doesn't mention the price, although I have a very good idea what the price was. Maybe BMR will disclose it.

Rosewall, 0.5p for 30m JLP shares? I think you're undervaluing your investment a bit there mate. I'd aim for at least 2.2p.

Ask MinoMiner, he's the one that made that statement. Perhaps he's an expert?

Good post, sidebar. Hopefully all will be revealed shorty. That's it from me for now. I'll be back when we have something new to talk about. Enjoy the rest of your Sundays!

Sounds good, plumbus. Oil & gas and mining shares is where the big rewards are at, also the big risks. I guess you take your chances. I probably wouldn't buy JLP until there is more clarity around the sale of the shares, they could be sold off in bulk at a discounted rate. Some companies like to sell at "mates rates" lol.

I can see what you are saying but at this point, JLP don't have any rights over BMR, not until they have handed over �2m for the plant build, that's one of the conditions of the JV.

Are you thinking of buying any JLP? You still in BLVN?

Anyhow, I wouldn't use the term "fire sale" to describe what's happening. Unless you're saying the JLP shares will be sold off cheaply? lol "fire sale: a sale of goods or assets at a very low price, typically when the seller is facing bankruptcy."

I think you'll find the land is owned by BMR and the licence is only a "permission" to mine, or in our case process those tailings. Ditch the licence and BMR still have ownership of land and property, which includes the tailings. Does that explain it or would you like me to delve deeper?

Plumbus, it seems to me that MM has just turned up to try and cause a few waves. a few weeks ago he was quite convinced that BMR wouldn't re-float and JLP would buy us out. A few weeks on and we're a crap company that no one would touch. It annoys me when people change their stance, and they have the audacity to argue about it.

I suppose you could class the JLP shares as an asset but not a physical asset as such. We still own Kabwe, it's the profits we are giving away. We never owned any SZ to give away. We bought in for a reduced % share.

"-- BMR would retain 100% ownership of the Kabwe Large Scale Mining Licence, tailings and infrastructure (the "Kabwe Assets"), and a minimum of 60% of the economic interest in the long term post-tax profits of Kabwe operations;" See above from JV RNS. The tailings remain property of BMR. That's where all the value is stored.

"FWIW I don't think BMR will ever re-float. I expect an all-share offer from Jubilee within a few weeks." Care to comment on the above or not? lol

"On the other hand who in their right mind would commit good money in taking over the whole of BMR with all the crap and skeletons - and who knows what else? LOL." You're the one that's posted several times recently that JLP are going to buy BMR, and BMR will never trade again. Your above comment seems to contradict what you've been saying. So which is it? Will BMR get bought out not?

I can't really comment on JLP's original intentions for taking out the $50m loan facility, but I'm pretty sure it wasn't for buying assets, otherwise they would have snapped up Kabwe without bothering with the whole JV (which has already been signed and entered into). There's a good chance that JLP will find other tailing dumps in Zambia and they might want to utilise the BMR plant to process them, providing they are close enough. I guess we'll cross those bridges when we come to them but for now, let's get Kabwe up and running!

Yes I did. So what assets have we sold off?

Dambuster, actually the SP has been stuck at 1.9p for the last four months. The licence may have been transferred to the subsidiary company "Kabwe Operations Ltd" but BMR still own all of the land and tailings etc. The only difference is JLP get 40% of all future profits. Also if 3 private investors are looking to put a considerable amount into BMR at 3p, and then exercise warrants at 5p (within 6 months) it tells me that they expect the SP to go over and above 5p by year end (at least). I can see your point about things going wrong, but it would take a total disaster for us to lose everything. As long we reach production we can pay JLP their �3.1m, and then they will no longer have rights over any of our assets. If things play out as planned the SP will move up, no doubt about it.

What assets are BMR selling off in a firesale?