Vig4 Jan 2019 00:23
Vig, I wouldn't agree to letting Borrelli remain at BMR a minute longer. He is full of crap and I feel he's contacted you with some immediately today simply because you have him under a bit of pressure. He has not been instrumental in saving BMR, he has been instrumental only in ensuring that his wages continue to roll in, regardless of the consequences to shareholders. We mustn't forget that he had a whole year in which to ditch ACI and use our JORCed assets to secure timely funding from a reputable source. He didn't do anything when ACI didn't pay up and also lost a set-up fee to ACI on that deal. He also knew of WH Ireland's intention to resign as broker and yet, again, did not secure a new broker in enough time to avoid us losing the listing on AIM.
Then, a few days later, without shareholders being able to vote, he brings us the awful JLP deal. A deal quickly drawn up when exactly? Surely not after the delisting, in the space of a few days?
If it can be proven that the JLP deal was in motion while we were only temporarily suspended, then I believe he has broken AIM rules. Notably, the rule where shareholders would have been required to vote on what is a fundamental change in our business. I'm sure we would have rejected any deal on those terms.
What I'm saying Vig, is he doesn't deserve another chance. He was responsible for letting Bird and JLP walk all over BMR, and, as the 4 June RNS confirms, he is also responsible for the Blue Square deal, which he has tried to cloak as being something above board, yet with no specific detail or reason for such a hefty sum.
I could go on, but I feel Alex is taking the p.i55 today, evidenced by the barefaced cheek of him apparently stating that he's kept BMR afloat.
He hasn't kept it afloat for the benefit of us shareholders. He's had $2 billion worth of wholly owned assets and has effectively given away over 90% of future profits in return for close to fook all.
Sorry Vig, but he should be booted out on his ar.5e, because he is either far removed from the reality of what he's actually done, or, more likely, he has arranged everything to our detriment, with purpose, and doesn't give a toss.
In my opinion all of this of course, but I believe you simply cannot trust what comes out of his mouth.
Remember him also saying on Twitter that we were making great progress at Kabwe, when in truth, we were hardly doing anything whatsoever. Certainly no great progress made at all.
This man must be stopped, definitely not allowed to undertake a new project on our behalf, and I feel you've done a u-turn on him today, but only because he's promptly responded to your last letter. Don't forget, the man will say anything to try and worm his way out of a tricky situation.
One last thing, he has already started selling our JLP holding hasn't he? Quantock of the Seychelles bought a wedge. Unless I'm mistaken.
Cheers Vig, sorry to go on, but Bozzer makes me fookin' livid. I can't bel
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