Member Info for KlueLoss

Oh right.

So if Borrelli stays and is left alone the co. thrives.

If Borrelli is removed the co. is liquidated.

Given his holding is 0.74% of the shares in issue, wouldn’t the remaining 99.26% of holders of shares have something to say about that? Sounds like a form of blackmail being performed.

You’re the only one suggesting BMR watch attempted to liquidate BMR Group. How would they do this?

Where is your evidence that there was an attempt to liquidate BMR Group by BMR Watch? See BMR Watch twitter account where they explain they requested an EGM to be called. It says nothing about liquidating BMR Group.

With Colin Bird on both boards and with no further cost to be incurred by JLP with a date of roughly August 2020 to acquire 100% of EML you can rest assured JLP will obtain EML before any liquidation. And even if they don’t, who is better positioned to obtain the licence than JLP given they are already at the site doing what BMR failed to do.

A few shareholders are still protecting him J99. Should’ve gone after the licence debacle. At the time we were told that a co. can not relist if at least one director hasn’t been on the board for 3 years - could never find out if this was true. Had we have acted back then and installed a new director we would’ve been coming up to year 3 in no time. I’m certain a director put in ABs place would not be drawing the money he has, even if we’d have installed the pickled corpse of MA from the EricDraven inspired Kabwe carnival of horrors, I think he’d have been more use.

Thanks moneyhawk. Interesting that the holding has been given a nil value - fair value given BMR now only have an agreement of sorts about a future royalty. As far as I’m aware nothing has been finalised on the royalty, we only know what was explained in one of the previous RNS issues in the past.

Yes, the fact they have until August 2020 to acquire 100% of EML for no further cost - that’s Kabwe. They have agreed (as far as we know) that BMR will receive a maximum of 12.5% of any future royalties.
They have several other projects running concurrently elsewhere, some making profit as far as I’m aware.

But yes, their 29% holding in BMR Group - who have an LTO to relist to fund a Chilean exploration co. (most likely via placing/dilution)with no guarantees other than the commitments made by BMR to fund it (from where?), that’s what they’re really concerned about. So yeah sure, it’ll be devastating for JLP if BMR went bust.

Yes I’m sure JLP would be massively affected by BMR going bust. I mean acquiring the remainder of Kabwe and not having to pay out a royalty in the event that’s BMR were to go bust would be nothing compared to their 29% share in a co. that had gone bust.

A problem with your hypothesis is that BMRW called for an EGM on Monday morning. So how can they account for the fall before that?

Monday open was 4.03p

Not thought this through have you.

Amazing that they couldn’t get Borrelli removed, but calling an EGM would be enough to see the co. liquidated.

The management of BMR must is in strong hands if only c. 5% of the shareholders being unhappy with progress is enough to see the co. come under threat of liquidation - whilst simultaneously intending to relist and fully fund an exploration company in Chile. Quite the paradox.

JLP exchanged very little cash in order to obtain their 29% of shares in issue. In return they have pretty much complete control of Kabwe. If the co. (BMR) liquidated given that they would then take full control of Kabwe I don’t see how they could view losing their 29% holding as a real relative loss in the grand scheme of the money they could make at Kabwe. They’ve already made clear they are very,very bullish on Kabwe, I’ve not seen the hyperbolic type statements exactly but I’ve heard other suggest once it’s up and running Kabwe could be a co. maker, for JLP. So if all pans out for JLP at Kabwe I just don’t see why they would even slightly concern themselves with their BMR holding being worth nothing. Yes, I’m sure they would like to be able to sell it and make some money back but given what they have going on I don’t think it’s a priority.

Borrelli has put shareholders in this uncertain position by failing to ensure any official legal agreements were in place or strict timescales put in place with JLP before allowing them to take over the project at Kabwe. The SML licence comes up for renewal in October 2020, JLP have the option to acquire 100% EML until August 2020 (we could extend I suppose we probably would as well) Everything is being cut very fine and BMR are no doubt running very low on cash at this point, I’m sure CB is more than aware. Unless the claims against former auditors and similar are still bearing fruit (and keeping Borrelli and co. in suits, slick backs and bouffants) without us being informed cash must be very low.

Always sorry to hear of investor losses, but never surprised.

Think most AIM ‘investors’ would’ve done better withdrawing their pot in £5 notes and throwing them on top of an open fire. At least we’d have felt warm for a short while.

We’re mugs for believing that this casino owed us anything. A market dominated by spivs and Belfort type characters.

Esoteric knowledge required to succeed.

It just seems insane to me that shareholders should accept anything they’re offered (e.g 1 for 5) given how JLP are talking about Kabwe. Even Borrelli knows in the future it could be quite a valuable royalty. I’d like an update just to know how long we can remain solvent. I’d rather (if possible) we sat on our hands than tried to fund some random exploration in Chile or wherever. Just doesn’t make any sense whatsoever.

In a 1 for 2 scenario it wouldn’t even be a 10% dilution in JLP shares in issue. If the way they are talking about Kabwe comes to fruition it would be an extremely low cost option to acquire 100% and would cost them nothing in capital.

I don’t think we have anything to lose by proposing something along those lines.

1 for 5 and you’re valuing our 11/12.5% at next to nothing. Same as Borrelli.

The thing is on IG it’s stating there are no short positions held and 11-50 customers holding a long position. The notion of T Traders not wanting us to re-list is nonsense. Surely anyone who wants us to re-list wants us do so in as strong a position as possible. The board publicly agreeing the SP is worth less than 1p, though realistic, is not helpful to co. Market Cap.

Nothing wrong with your maths. They just want the flexibility to be able to raise capital as low as .0005 in a worst case scenario. If they don’t lower it, they can’t raise any capital. It’s a sad state of events when our shares aren’t even worth 1p anymore.

Not what anyone had planned. Thank you FXL5 for presenting a common sense resolution and causing the AGM to be adjourned.

Let’s all see what gets put into print.

Shareholders - please try and come to next AGM/EGM/GM there were only 7SEVEN of us but due to the fact we voted against the resolutions it went to a ‘count’. Apathy really is just lubing and lowering your own trousers.

Where is the Copper coming from?

Not familiar with the area but there’s a ‘local’ called ‘The Globe’ just on the corner?

“To be able to Re-list it is my understanding the royalties cannot be ‘ring fenced ‘ otherwise we have NO ongoing business or ability to meet re-listing criteria .”

BMR tweet 09.01.2019
“We are working on a circular with proposals subject to shareholder approval for the acquisition of a further licence and the demerger of the royalty agreement into a separate company to be owned pro rata by shareholders to protect value“

Even the face of contradiction you won’t even ask why the co. not only tweeted the above on 09.01.2019 but spoke with shareholders stating that the Royalty was to be ring fenced.

I accept that we hadn’t nothing else to offer in order to obtain a listing. Borrelli has dragged us to this point, to claim it’s all been bad luck and Borrelli has guided the crashing plane is just naivety in the extreme.

My post was removed. Surprisingly. I’m on a last warning so might get suspended after this, anyway.

TBTT - It would explain a lot, but I’ve met them at an AGM and can confirm it’s not AB. Just a massive difference in opinion into how shareholders interests would be best served. I only have Borrelli’s performance of the last c. 5 years to go off and it leaves me somewhat doubtful that this man can be trusted with deploying anymore co. capital.