Member Info for BringMyReward

I also agree with razel2000 – at this point there is no dilution. It’s just an option to draw-down in £500k increments. It’s not a great time to be taking on additional debt, however, it’s a £4m safety net, with a 5.3m Euro grant still to come, and by the sounds of it, additional grants/funding coming from the Government. At least this ensures we are not going to go bust, and this more stringent lock-down period is only set to last until 9th April. It’s certainly not the end of the world… yet!

Let’s run some figures…

In the December quarter, LP produced 21.4 tonnes of Tungsten and 7.9 tonnes of Tin = 29.3 tonnes total.

If the March quarter increased by 160% - the resulting increase would mean 76.18 tonnes were produced in total.

We know 24 hour ops began 18th Dec – there were planned shutdowns in this period. Given the below statement, it’s fair to say that most of the 29.3 was produced in the month of December…

"W expects production to build substantially in Q1 2020 with a full three months of production (majority of production in Q4 2019 was in the month of December) and higher than expected tin production and revenue. Debottlenecking initiatives and completion of contractor rectification work, which are normal at this phase of the ramp-up, should also contribute to production increases.”

There were roughly 13 full weeks between Jan 1st and up to today… We can safely knock 3 weeks off due to planned shutdowns in Feb and perhaps not operating fully in the first week of Jan… so 76.18 divided by 10 weeks is 7.62 per week. Let’s multiply that by a typical 4 week month which makes 30.4 tonnes… In that case I would say 76.18 for the March quarter or 7.62 per week can’t be right…Thoughts?

21.4 x 2.6 = 55.64 - that's the easiest way to work it out? so 55.64 tonnes isn't a lot for a whole quarter.

160% increase in production - so what's that 50 tonnes for the full quarter? That can't be right?

Great news really! It seems we are well financed to weather the short storm.

I know GIT, my response wasn't aimed at you. I meant to reply to the BBC thread.

The number of new cases in Spain is already going down. It won't be long before the death rate follows suit. This new stricter measure is only temporary, probably to help reduce the number of deaths quicker.

If this went on for months you might as well delete the planet and reboot the system, because everyone on the planet would be screwed.

Who knows if it will affect LP, but according to this article it will only be in place until 9th April. Expect an RNS tomorrow to clarify.

https://www.reuters.com/article/us-health-coronavirus-spain/spains-coronavirus-death-toll-rises-by-838-overnight-to-6528-idUSKBN21G0C0

the ask has now dropped to 0.15, makes sense.

Nothing yet Troa, one day maybe lol.

It's currently 0.1404 to sell and 0.147 to buy, that's a fairly tight spread seeing as it's been wide recently. I can't get a quote to sell many, but try buying 10m shares and they want 0.2.

A week ago I bought over 870k at 0.11 so I've done my bit trying to keep the SP up... I don't know if I bought close to the bottom, but it seemed like a good time to buy to me... I'm hoping to add another 5m shares in the next couple of weeks. A bit of good news in April might see us back into the 0.3's.

Good luck all and stay safe!

https://twitter.com/theminingmaven/status/786630521409249281

Worth a listen to remind us what the Directors were supposed to deliver for shareholders.

Hi All, I’m writing this statement as I believe all shareholders deserve to know what’s happening. The BMR Watch Committee and other associated members of BMR Watch have decided to call an EGM, as per the rules of the Companies Act 2006. See this Tweet for more details: https://twitter.com/BmrWatch/status/1240737410549460999

As previously announced, we requisitioned and subsequently rescinded an EGM request in December 2019. Since then, we have given BMR more time to come up with a deal for shareholders. It’s been 7 months since BMR held their AGM on 23rd August 2019. We were promised news by end of January 2020, we were promised a listing by end of March 2020, and previously we were told by all Directors of BMR it was their plan to hive down the Royalty and sell up after 3 years – none these promises have come to fruition.

BMR have responded to our request by saying a deal has already concluded. This deal would need to be announced by the Company and other parties involved, before we are able to decide the correct course of action from here.

To clear up a few misunderstandings;

1. Several members of BMR Watch recently expressed an interest in supporting an EGM requisition.
2. We consulted with a professional who has a background in law – we are well within our rights to requisition an EGM, and no legal action can be taken against us for doing this.
3. Any personal details posted on LSE by any users will be captured as evidence and reported to LSE for removal.
4. We are not working in collusion with Jubilee Metals to bring down the Company.
5. The Committee are not necessarily against BMR re-listing – as long as the deal is fair to shareholders.
6. We have no evidence that the majority of shareholders would like a listing. However, we do know that a large portion of BMR Watch members would rather hold on to the Royalty for future value, and not have a listing at all.
7. We do not anticipate that Borrelli will be stepping down from the Company, there has been no formal announcement of this.
8. BMR can be voluntarily liquidated at any time, this however would require a shareholder vote, to which the majority would need to support in order for this to happen.

Have you considered the possibility that Borrelli is working in JLP’s best interests and not ours? Or maybe even in the best interests of Colin Bird, seeing as he works for Revelo…

Let’s take a look at the clues – Borrelli wants to call the new Company “Callisto Resources”. Callisto is one of Jupiter’s moons and was discovered by Galileo in 1610. The moon’s surface is the oldest and most heavily cratered in the entire solar system – it’s taken a beating throughout its life (much like BMR and its shareholders).

Borrelli should announce the proposed deal along with his retirement from the Board. If the deal is accepted by shareholders, he can then retire after the Company has been listed.

Stuee, we know a deal has concluded and we look forward to the details being released by the listed parties. Shareholders can then decide if the long wait has been worth it. BMR Watch is here to protect shareholder interests, not to mess anything up, and certainly not taking any actions out of “revenge”.

I spotted a 31.2m sell from today at 0.12. Unless it was delayed from yesterday, I can't see it on LSE...

At the Annual General Meeting held at 1:00m on Friday 23 August 2019, following the voting at the meeting on Resolution 1 and the results of the polls for Resolutions 2, 3 & 4, all the resolutions put to shareholders were duly passed.

At the General Meeting held at 1:30pm on Friday 23 August 2019, following the discussion of a proposal reached between the Company and Jubilee Metals Group Plc relating to the distribution of the net returns from the Kabwe project, the meeting was adjourned with further notice of the adjourned meeting to be given to shareholders as soon as practicable.

M A Borrelli
Chairman and Company Secretary

23 August 2019

Nice premium, but we were led to believe Regua was fully funded... Although it makes me wonder if this Spanish investor is just a friend who keeps getting in at 'mates rates'. I would have preferred to see some buying on the open market at these lows, especially by MM.

Oh well, sounds like operations are progressing nicely and hopefully this will give a much needed boost to the SP during this torrid time.

Exactly, aim-sickness – what price? This is one of the reasons why shareholders were reluctant to vote for the listing and share dilution. Colin Bird was also on the phone making proposals of dividends for BMR shareholders. It turned out to be a load of rubbish. JLP hadn’t even triggered the Royalty, so why should we vote blindly not knowing the true outcome?

Now according to some, BMR Watch is to blame for BMR not having a listing. Borrelli told me he wouldn’t be able to list the Company until JLP had finalised certain details, and BMR had to amend its accounting period – so how exactly was he planning to list us last year then? I believe the situation at the AGM with CB on the phone was staged, and they were hoping we would ask for the GM to be adjourned. Now they are just waiting patiently for BMR to go bust so they can pick up what they need on the cheap… How else do you explain a 7 month period of absolute silence from BMR? JLP are dragging this out, even to the point where they are purposefully withholding money from the Company they own 29.01% of - this is immoral at best.

Disclaimer: All of the above is in my opinion, of course.

What's the point in BMR Watch getting updates anyway? According to you I was lied to by the board. Are you some how suggesting our actions are the root cause of the problems we face? It's BMR and JLP that are causing the problems, they don't need us to intervene, although they might use it as an excuse for nothing happening.

By the way, shareholders didn't vote down the proposals of a listing. The GM was adjourned by AB when everyone in the room was in agreement to. So we didn't get chance to vote.

According to Borrelli we were supposed to list by end of March, can't see that happening now. Maybe some time this year?

"But not for some time to come. There is the question of recouping JLP's capital costs."

Actually, BMR are supposed to get an initial 5% Royalty from the earnings before JLP recovers its costs. This deal isn't in place yet, because JLP still hasn't acquired EML from BMR to trigger the Royalty. I'm assuming at this rate they are just waiting for BMR to go bust or coming up with new plans to further weaken our position. How ethical of them.