And then got fired?
And you are always right, I take it? Genuinely you can't possibly know if you can make money here. I'm confident that JH's process is a bust, reagent costs are through the roof. I'm sure JLP has a plan, but none of know what it is yet!
I don't hold JLP either. Feels like a better proposition though. A decent strategy and management with sector experience. But I think investing in junior miners is a lottery. I like that JLP are focused on waste processing, but I'm not going to invest in it. My interest remains environmental and social, not financial.
Just exactly how right have the long-term holders been so far?
Sure but BMR lost the license and JLP got it back.
Replacement for JH is obvious. It will be LC. I doubt he will be appointed to the main board as it will be too much JLP influence. My guess is that he will run the kabwe processing company. No reason for him to get involved with the rest of bmr.
That would be a quick route to the loss of the license and your investment with it.
Yeah, I'm also on mobile. Really hard to do basic stuff. That's my excuse anyway.
Thanks. A double mess then... I dont think updating the esia would be problematic, but let's see. I'm also not stressed about the deadlines. Clearly management has to take them seriously, but investment and demonstrable progress will keep the Cadastre at bay.
The first part of that was quoting MS67. Sorry for the mess.
The material is provided and paid for by BMR.... JLP are paid contractors with a 60/40 split of the attriubtable profit. JLP also own 29.01% of BMR as PREFERRED SHARES, meaning that they get 29.01% of BMR's retained 60%. it's really not that complicated... Why do you think trading is suspended. AB sold almost 30% of the company for 500k and you have no route of returning to profit in the short to medium term" I dont think that can be correct. Preferred shares do not give you ownership rights. Unless they convert to ordinary shares at some point. Are these some sort of weird preferred shares? Jlp must own 29% of the equity as ordinary shares. And it is a gross oversimplification to say that 500k bought the 29% stake, even if the maths are correct. Jlp bring additional cash, and expertise (which is as valuable as cash in this case). I expect to hear that JH's "proprietary" acid/brine process has been dropped and that JLP has revised the process to something more economic. I hope so anyway. That said, I still don't yet see the value in the project. Not saying it isn't there, but I've not seen any convincing economics. The only thing I've got is JLP's involvement. But with their money in as preferred capital, their cost of capital and risk is significantly lower.
Microfocus has overstretched itself. Good luck to the management form here. It's a big beast to get back on track.