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Agreed. I was only suggesting that they will have lien over the shares until the debt is settled.
No chance that Blue Square has been paid yet. And not until new license terms are fully agreed. They will likely have a lien over BMR's shares in JLP and will have to take the view that they are and will be of sufficient value to cover their 'expenses'.
BS is typical BMR nonsense. Trying to pin it on LC/JLP is a bit desperate.
No doubt further twists to come. If you must participate in Kabwe, buy shares in JLP. At least there is no dependency on the single project.
Needs to be before 7 August or the listing gets cancelled. The only risk to that is if JLP are unable to renegotiate the timetable. I expect that the suspension will be lifted during June. A positive update from JLP will probably be the earliest indicator that it is on the way.
Even as an anomoly I struggle with it. Zambia Cu tailings are usually 0.2% to 0.4%. There are some approaching 1%. Cobalt is usually one-tenth of those numbers. If you can recall the 10% grade, please let me know where it is :-)
Chingola and Luanshya are likely good projects, but are too big for AB. The grades will be much lower than Kabwe but the volumes should make them viable as long as plant throughput is big enough. Particularly if the waste also includes cobalt. I wonder if they are still available? Might be of more interest for JLP once they've sorted existing projects. I'm not familiar with the material at Ndola.
Not from me, Bring. If JLP properly start construction then worries over the license are gone. As I said before, it will then just be a question of time to revenue, and what the production opex is. Time is no big deal - who really cares if it's three months or nine? Opex concerns are based around the acid/brine leach, but I still expect that to be changed to something more efficient. Unless acid costs return to 2016 levels.
My worry is that the license conditions won't be met. Then there is no basis for the JV. That worry can disappear on the 15th. Clearly that should be the outcome, but I don't think it should be taken for granted. I have downplayed the importance of the deadlines in the past, but I would like to have seen more than just deskwork and site prep work going on at JLP. Perhaps they are just being prudent ahead of LC completing his discussions. That would make sense from their perspective. Readers will be pleased to know that there can't be much more for me to comment on for the next few weeks. In the absence of any RNS, there is not much more on which to opine.
That's ridiculous. How would my comment achieve that? If I'm wrong, I will be proven wrong before the shares can even be traded. And if you are relying on positive sentiment from chatrooms to move the share price you have no faith in the underlying business.
Klueloss - my concern is that JLP / BMR have not yet begun construction. Certainly not in any meaningful way. Why? The most likely reason, in my opinion, is that they are concerned about the deadlines. I can't see how JLP can risk starting to spend (more) before it has reached agreement with the government. It is difficult for them to reach agreement with the government if they can't demonstrate any progress. Sure, I'm guessing, but we are soon at the point where it becomes impossible to achieve the deadlines and both partners are completely in the hands of the authorities to give them another chance. There's a reasonable chance that they will since it is still likely to be the quickest route to a clean up. But when do they finally lose patience? I have no faith in AB to get it done - he's a london based investment banker and his skills don't lie in tailings processing. Actually, I have a lot of faith in LC and think that he is the best option to stop things going sideways. Maybe more is happening that we are being made aware of? Sure, my primary concern is for Kabwe to get cleaned up. It makes no difference to me who does it, so it might just as well be BMR. At least then the shareholders will finally get some reward for their patience and their pounds.
I have no other alias. I may have even convinced BringMyReward of that, although he will have to confirm either way.
Vignere - genuinely, you are wasting your time with personal attack. It says more about you than me. My view is that the JV will fail within one month. I don't fear being wrong - I can cope with the possibility. Even the likelihood, in this case. Sometimes I'm right, sometimes I'm wrong. But worrying about commodity prices is completely missing the seriousness of BMR's challenge for the next month. Put your dreams on hold until JLP announce that they have reached a new agreement with the authorities. Only then is it worth your time trying to work out if there is any money to be made here. This is much the same message that led to the attacks from the 'informed', but I can take it. I remain keen for the project to succeed.
Vigenere - do you try to bully in real life too? Or just whilst sat at your keyboard?
Blimey, I figure that I've been pretty polite, as a whole. "Taunt"? If you can't take genuine sell-side opinions then chatrooms are not for you. I'm interested in the project and will continue to comment. If that's a problem for anyone, you know what to do.
Both a patronising and superficial comment there, Vigenere. You have no idea about the potential profitability for BMR. You are merely hoping / guessing and relying on the fact that JLP think it's a worthwhile adventure. On top of that, a further default of the license for Kabwe remains a reasonably possibility. "Good luck" is the right way to end your comment(s).
I'm an analyst at heart! Buy, sell or hold are the options...
It's interesting to read the apparent increasing doubt and nervousness amongst LTH's. For what it's worth, I think a lowering of expectations is sensible. The stock has a history of disappointing. Prepare for it again and celebrate if there is a break from the norm. I'm still a seller. If I had any to sell. And if I could actually sell them.
Ah, ok, fair enough!