Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
No, I dont think so.
Lose the license and BMR owns nothing. Not the land, not the tailings.
Possibly, but do you know how much they paid for those shares? Was it just the £300k that they invested? If so, it is an easy hit to take. If it's the £2m that those shares are currently worth on paper, JLP may consider getting 100% control of the project as being ample consideration. But that assumes that they can get the license...
And at this point, who knows what the price will be if the shares list again. Surely they will fall?
I predicted AB to resign last week, maybe I should have predicted for this week! But let's see if he still has a plan. If he does go then you can be sure that BMR is finished. The fact that he is still there gives some hope. AB has city contacts so can maybe convince someone to step in as NOMAD.
JLP's change in process is welcome. They clearly think that there is a process that ensures profitable recovery. However, I am unconvinced by their statement - it is little more than a holding statement whilst discussions with the ministry continue.
The risk of BMR again being stripped of the license remains large. On balance, I expect it to be in the hands of JLP or a third party by the end of August.
That's just my view, for what it's worth, so good luck to the long-suffering LTH's.
"deranged multiple alias poster" - not sure what I have done to justify that and I've no idea why you feel the need to go with personal attacks, but each to his own. The key to any of what you wrote in your last comment is whether or not BMR can get back control of the license. If they do, they have a chance. At the moment they are in the hands of the ministry, blue square and jlp trying to agree a way forward. Few seem to appreciate how precarious that situation is. I'm not seeing anything to suggest that bad news is coming, so we can only speculate over the (minor) delay in the expected RNS. BMR may well hang on to the license, but I still wouldn't consider the position strong.
Fireball - with respect, that is an unrealistic view of BMR's situation. BMR is a one-man band and that man knows little of mining. And that man knows little of Zambia. He spends almodt no time in Zambia and has delegated everything to LC. There is no money to build a suitable plant (5tph cannot be profitable) and no expertise to develop a process to retreat the material in a profitable way. The license remains under threat due to lack of progress (maybe this view is soon out of date) and relies on the continued support of Blue Square. If you think Blue Square won't doublecross BMR should a better offer come along then you haven't thought through what they are about. Basically, AB will take any deal that keeps the lights on.
The sums no longer work at 5tph, in my opinion. Unless Vanadium can swing it. I don't know the numbers to factor that in. As for next week, it's best that we just wait and see. I thought BMR was finished in April and they found a way through.
Nothing very specific. I just do not expect everything to be done in time to meet the license conditions. Perhaps JLP will be able to get an extension?
Thanks, interesting.
As you know I was unconvinced as to how the project could make money with the plant as planned, so it is good to hear that JLP are trying to find a profitable route forward.
I am still of the view that the next week could be a very difficult one, but time will tell.
Personally, I think the time for ministry meetings for BMR is over, but assuming I'm wrong, I would think that the disaster today at Black Mountain will be occupying everyone for a few days.
I realise that I am also not popular on here, but I find your comments annoying. If that is what you intend, then good job.
Please don't involve me in your games, yazz. Disrespect the stock, by all means, but have some respect and empathy for the investors. It's about to get a whole lot worse for them and the last thing needed is you goading them.
ok. I thought your "quiet" subject header might be picking up on my comment that it is quiet in here. Apologies.
Langtro - does the "your" refer to me? Genuinely I have just the one account. I really don't get why others think I am Yazz and his / her alter egos. If you are not referring to me, then as you were.
I am seriously doubting that AB can hang on any longer than next week. But let's see, he seems to be made of teflon.
Gone a bit quiet in here. So, here's a couple of predictions: 1. England to win the world cup 2. Borelli to resign from the BMR board One of them should happen quite soon.
Hang on to your money.
"Why are JLP doing all the negotiating?" Practically, who does BMR have that can do it? BMR has few staff, and none with the combined experience and gravitas to meet with the ZG and sound credible. Ministers are very proud of their positions and you have to know how to handle them / speak to them. I just don't think that AB wants to spend his time travelling back and forward to Zambia, however serious the situation. He has delegated the job to JLP. Also, isn't LC the CEO of Enviro? Maybe it is his job to do.
NCK - it is plenty tricky doing business in Zambia. Mainly timetables. Meeting unilaterally get postponed on a regular basis. JLP are new to Zambia so fill find it even more difficult as they are not able to call on existing relationships. I can't really decide if today's RNS is news or not. It seems to suggest a decision is still expected this month. The main thing that peaked my interest was the comment that JLP has still to decide if it is to proceed with plant development.
Bring sent me a reasoned reply, so some thoughts: "When it comes to valuing BMR you are focusing too much on the negatives. If the planned subscription goes ahead and we're told production to commence this year, do you really think the SP will stand still or move further backwards?" I'm not much excited by the subscription although it would clearly secure BMR's future for a while. Yes, positive progress on construction and production should and would help the price. I just have not yet seen evidence of it. Only comment that (cheap) groundworks are underway. I would still be cautious on updates as we have seen such statements before. "Sometimes the promise of value is much stronger than what a company is currently worth. That's why you get some ridiculous rises on companies that haven't got much of an asset value, but the news attracts enough buyers to push the SP up, knowing they could be onto a winner. " That is not enough for me. Maybe it is how the market can work, but it is no use to a LTH unless it is followed with real progress. Spikes from instinctive investment will usually be followed by dips. Occasionally you will make a quick fortune. "As for risks, there are risks attached to every investment. Also, considering BMR is way undervalued compared with JLP, I think you'll find all the action will be with BMR." There is no basis for stating that BMR is way undervalued compared with JLP. JLP has producing assets, revenue and profit. If BMR can prove that it will have those things, then the comparison becomes possible.