Member Info for plumbus

Thanks for the insight ww.

wellwell, On checking back, Catcher was towed back at 10kts, my recollection was 14kns, so wrong there but still faster than AM currently under its own under its own power.

If the timeline is so critical why are we trundling back to blighty at 7-8 knots instead of employing a tow and travelling at 14-15 knots?

Fair summation?

Posted of advfn by zeusfurla,

With the benefit of 2 hours not looking at a red screen, I am trying to gain some perspective on today. It looks to me like the Board had been trying to get finance in place for BKM for weeks but it just wasn't happening - low copper price and lack of a chunky enough indicated resource. They have then rethought Beutong and realised that a partner is needed - too long to wait for BKM to fund its development given that they were told that they'd need extra drilling and time to improve their chances of gaining funding Q1 next year for BKM. Shareholders have found the very poor comms unacceptable. IMHO, however I think it is as much down to not having a clear enough idea of the right strategy and then changing course suddenly today. Also it is inexcusable to allow finances to run so low that the bargaining position now is seriously weakened - I made this point before a while back. The protests are likely just a smokescreen. Despite the change of strategy and difficulty in acquiring funding, the business case still remains irrefutably strong. What is less clear is whether the existing Board is capable of delivering. This lack of confidence along with likely shorting later in the day has dented the SP. I remain a holder (stake reduced a bit but still significant for me) and hope that Newcrest/others come on board to develop the assets, although the power now lies more with those approaching us than the Board. All IMHO - I am no expert in mining - just saying what I see.

In hindsight Borrelli has never attempted to monetise these assets for the good of the shareholders his efforts have been half hearted at best except when drawing his salary and raising cash to keep the gravy train just on the rails. He's given most of the company away and what remains is a stub left in place to provide an income for him for a couple more years. Shareholders will see nothing back from this. No doubt the man will have the gall to resurrect BMR and refloat using cash from the next bus load of gullible AIM aficionados. You are right about BMR being incapable of exploiting these assets but that was 100% down to Borrellis ineptitude.

Vig - what does it take? We've been robbed the assets are gone future royalties are for the dreamers, what part of you've lost all your hard earned don't you grasp?

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GLR&ArticleCode=0gw7goky&ArticleHeadline=Holdings_in_Company

Maybe checking the lifeboats on the starboard side?

Fireball for gods sake leave bre... outside the door.

Thanks for the reply bandit!, appreciated.

Am i right in concluding that JLP can now exceed a 30% shareholding in BMR and no longer be forced into a mandatory bid under LSE or Aim rules?

I'm unfortunate enough to have 3 now 4 delisted company's in my nominee account a couple have been there years. They just sit there as reminders of my gross stupidity, further reinforced by today's announcement.

I think alliance's post confirms they did and AB is a lying b......d.

You do Alex a great disservice if you do not recognise that this was/has been a wonderplot to free himself of a band of grousing plebeian shareholders and grab the booty for himself - perhaps having to share the spoils with fellow conspirators at JLP was a price he had to pay to to achieve his perfidious ambition. Underestimate the Alexman at your peril!

Iv'e three suspended in my portfolio at the moment: (WTS, TMAN and SDIC) - been there year, soon to be joined by BMR? Had many more over the years but they generally drop out after a decade or so.

Apparently yes, but shareholders have little or no knowledge of their remaining assets or value.Most including myself have written it off another example of Russian subterfuge.

TIMAN (TMAN) was delisted in 2009 still has BB's of here and on advfn - still occasionally used on advfn.

Bring, the tenor of the conversations you have with AB have all been much a much of a muchness. That we are struggling, he can't deny' but there is always work in progress which may lead us to a solution. This has been going on for months now with nothing achieved. I think he's obviously taking us the abyss of delisting, which he will casually say in the next week or so - I gave it my best shot.
If we do delist its the end.
I agree you've acted as honest broker in this but the outcome seems to have been a long time in the planning.

Love to be proven wrong but why wait for the final week to pull something out? The obvious answer is that he hasn't.

I'd be elated with a 1 for 1 share swap T/O by JLP right now.

AB was unaware of the possible rescinding of the mining licence what makes you so sure he's aware of the suspension rules. I've lost all faith in the competency of this man. And why would JLP be bothered if BMR were delisted.