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Klueloss - I didn't claim some kind of superior knowledge after the event. I only mentioned it last night because you were so dismissive of the contribution of the bearish commenters and the complete surprise over Blue Square. The view that I had was that parties were spoiling to get the license for themselves. As it turned out it appears that they were doing it to get only a fee. I'm not an insider here, merely connected to many of the parties, remotely or otherwise. It should be obvious by now why I am interested in BMR and why I comment. I am equally bemused why people continue to attack me for commenting on a stock that I don't own. I think it makes me independent, others think I get paid to do this. I don't pick stocks for investment. All my investments are boringly managed in funds by professionals. I have little idea what I am invested in and just hope they continue to beat the market by a little. My high risk (and hopefully returns) come from my work life. At the end of the day it is just opinion. I hope some of it is useful. Clearly I don't ask for everyone (or indeed anyone!) to agree with my opinion. I'm sure readers are plenty bored of me justifying my commenting, so that's it on the subject from me.
Presumably you got all that from me saying that I dont know what is going to happen?
The usual response - ad hominems and conspiracy theories of multiple accounts and paid derampers. I assume that is what is meant by that comment? Paid to deramp a share that is suspended! Nice work if you can get it...
"They all knew so much that Blue Square came as a total surprise to everyone." You see, that's the thing. I warned of continuing risks to the license after it's reinstatement, but LTH's refused to listen and just started speculating on how high this share would go. And now apparently none of us knew a BS type situation was possible? BMR/JLP decided to pay up, it could almost as easily have been someone else who bought BS off. BMR lives to try again. All that has happened since the suspension is that BMR has destroyed more value, yet LTH's are speculating on how high the opening increase will be. It's bizarre. Maybe there will be news to make that the right conclusion to reach, but at the moment there is no reason for an increase in value compared with February. Only a reason for the market cap to reduce by $800,000. I don't know what's going to happen, no different from anyone else, but some of you refuse to acknowledge the continuing risks with BMR. The license could still be lost (although that is becoming increasingly unlikely). What is the case is that BMR will continue to disappoint. In perpetuity. Sure, that's just my opinion, but it is informed opinion. You can do your own research and reach your own conclusions. Bryn (I think it was) made a reasonable comment on his thoughts on my posting style.Clearly the tone isn't coming across always as I intend, but I'm not going to censor my posts - they are what they are. I don't agonise over what I write and I take no offence if people come at my with personal attacks. Sometimes I will defend my corner, sometimes I have better things to do. The hypocrisy from the BMR Brigade is there for all to see. Except themselves, it seems. The bears are all clowns, apparently. Despite years of evidence. The bulls are all reasoned and rational, apparently. Most of the personal attacks, supercilious tone and starting of childish squabbles comes from the BMR brigade. Perhaps understandably, given the hammering they have had on their investment over the years. But at least acknowledge what's going on. This isn't the BMR fan club, this is the BMR share discussion page. Shares go down as well as up. People have sell opinions as well as hold or buy. The good news is that you don't have to read my comments. If this project ever gets into production, then my interest will largely be over. In any case, most of the action will be with JLP by then.
Your loss.
The point of my comments is no more or less than anyone else's. My opinions are no less valid than many others posted here. The fact is that I am informed through being active in the sector and the geography, and through knowing the protagonists and many of the the civil servants. That doesnt mean some of my comments are not guesses and speculation (same as everyone else here), but a number of posters refuse to acknowledge my balance. I am happy to stick up for BMR when I think people are worrying unecessarily, and to comment negatively where I think it justified. LTH's seem to feel that they are the only ones allowed to post negaitve comments about the stock or management, getting all defensive or personal if someone else dares.
Klueloss - I freely admit when I dont know, and when I speculate. My warnings of continuing threats to the license were born out with Blue Square. The threats are not finished, but believe what you want.
I know enough about the current and recent risks attached the Kabwe license to know that to be true.
That's just not true. There is no way that JLP does the deal with BMR if they knew the license had been withdrawn.
Think of it as public service.
Bring - blimey, I really can't see how you continue to stick up for BMR after all these years!
I genuinely think JLP are an innocent party in this. It's just another BMR cock up. Clearly that's just my opinion, but it is at least backed up with the evidence of years of disappointments at BMR.
Not sure if that was in response to my comment. If so, I am sure JLP knew nothing about the Blue Square liability until recently. Certainly long after the license was withdrawn. Apologies if I implied otherwise. LC is a straight operator, and I would believe his statements.
I'm not sure what your point is? It was announced in the RNS who Blue Square are and what they are being paid for (the version for public consumption, at least). And of course JLP would have been given full details about what Blue Square were demanding payment for when negotiating the orderly marketing agreement with BMR to enable them to sell shares and settle the liability..
Apologies if I am labouring this but I am trying to put your mind at rest! It was never going to be all creditors. For example, BMR has a deferred tax liability of £2.2m, which is a creditor on it's balance sheet. That won't be paid off. (I'm a little bemused as to how a company with historic losses can have a deferred tax liability, but that's another question!).
I had a look at the most recent interims rns to get a feel as to what normal levels of creditors are for BMR. What struck me most though was the fact that BMR's net cash outlow will now be above £50m. That's a big number!
Re your comment why not just say "creditors", that might imply that all creditors have been paid. Which clearly would be wrong. So it needed some qualification - certain, agreed, approved, etc - any would work. I am certain that there would have been an approved list of creditors as part of the orderly marketing agreement, so the use of "approved" seems very natural.
Maybe they should have just said "paid Blue Square Minerals". Perhaps interesting that they didn't. But perhaps not! I suppose this was a JLP rns, so they are probably not intune with the needs of BMR stakeholders.
Eric, whilst I agree, in theory it is not actually a disposal of worth. That happened when the liability was admitted to. All that has happened today is that an asset has been used to settle a liability. No change in net worth. However, the shares have beem sold at a poor time, so it would be interesting to know how far under market price they were sold.
I dont see the worry with using "approved" when discussing where the payments have gone I dont believe that it implies anything other than that the funds have been used the settle the creditors that were intentified and 'approved' by JLP when allowing BMR to sell down the shares.