Share Name Share Symbol Market Type Share ISIN Share Description
Bmr Group LSE:BMR London Ordinary Share GB00BWV0F181 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 1.90p 0 05:00:01
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.60 -0.88 4.5

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DateSubject
21/8/2018
10:18
deme1: 20 August 2018 BMR Group PLC (“BMR” and the “Company”;) Background to Delisting and Strategy Background The Company had initially intended to raise its own funding and employ its own resources at its Kabwe project for the construction, commissioning and operation of the intended pilot plant for processing the tailings stockpiles (the “Kabwe Project”). To reduce the inherent risks, and thereby enhance the outcome, the Company subsequently determined that it should enter into the agreement with Jubilee Metals Group PLC (“Jubilee̶1;), announced on 23 October 2017, so as to access Jubilee’s more extensive funding and engineering capabilities and expertise. In furtherance of the relationship with Jubilee, the Company announced on 15 January 2018 that Jubilee had subscribed for new BMR shares representing a 29.01% holding in the Company, in exchange for £500,000 in cash and the allotment to the Company of new Jubilee shares representing a holding for the Company of 4.83% of Jubilee’s capital. Lock-in arrangements were also announced, but the Company has been able to utilise some of its holding of Jubilee shares towards its operating costs, and the balance of the holding represents a significant balance sheet asset for the Company. On 7 February 2018, the Company announced the suspension of trading of its securities on AIM following receipt of a letter from the Mining Cadastre Department of Zambia terminating its mining right in respect of the Kabwe Project. This licence was re-instated on 5 April 2018, with conditions attached. The new conditions included: (i) plant construction commencing within three months of 3 April 2018; (ii) completing plant construction and commissioning by 30 September 2018; and (iii) commencing production by 30 December 2018. In addition, the Company is to submit a detailed employment and training plan; contribute to the Environmental Protection Fund in accordance with the Environmental Management Act, No. 12 of 2011; and comply with the Mines and Minerals Development Act 2015 and other relevant laws of Zambia. Jubilee announced on 2 July 2018 the completion of its initial detailed technical and engineering review of the Kabwe Project and determined a revised process for the recovery of lead and zinc in the surface material, with enhanced processing flows and increased through-flow capacity. Jubilee determined as a consequence that a larger plant should be built at a significantly increased cost. The enhanced process flowsheet offers the potential for improved capital efficiency and reduced circuit complexity. It targets the recovery of zinc ahead of, and independently of, lead and vanadium. The construction of the zinc recovery circuit has been prioritised and is expected to commission well in advance of the lead and vanadium recovery circuits. This approach allows the construction of the zinc recovery circuit to progress while the development and design of the lead and vanadium recovery circuits are further refined. It is now anticipated that the process flowsheet design will be completed during Q3 2018 targeting commissioning of the zinc recovery circuit by mid-2019. As a result of these changes, the expected costs of construction and commissioning of the processing facility have increased. This gives the potential for greater net returns, even after taking into account the price of acid which has increased significantly since the time of BMR’s original costings and would have had a significant adverse impact on the Company’s former plans. Under the terms of the agreements with Jubilee announced on 2 May 2018, a proportion of the costs of the enlarged processing facility in excess of the £2.3 million committed by Jubilee would have fallen to be borne by the Company. As events in Zambia unfolded, BMR determined that it was unable to commit to its share of the uncertain level of increased costs (the amount of which remains to be determined in light of the finalisation by Jubilee of its plans for the larger plant referred to above) and decided to eliminate its capital risk for the certainty of returns, choosing to dispose of the Kabwe Project to Jubilee in return for a 12.5% royalty arrangement (the “Disposal̶1;), thereby substantially de-risking its position for the benefit of shareholders and on terms that, as Jubilee announced on 6 August 2018, “should the total capital investment of Jubilee to fully execute the project exceed US$15 million, BMR's shareholding shall immediately dilute to a fixed 11% shareholding”. Appointment of a new nominated adviser (“nomad”) WH Ireland, BMR’s nomad, resigned on 2 July 2018 and therefore the Company had one month to appoint a new nomad or the Company would be de-listed from AIM. BMR had secured the agreement to act of a replacement nomad for the Company, subject to shareholder approval of the Disposal. The Disposal was a condition precedent due to continued uncertainty regarding the renewal of the Kabwe mining licence and the uncertainty as to whether BMR could fund its share of the increased costs required to maintain the plant and on-going project expenditure. The proposed new nomad had visited Kabwe and had wholly completed its due diligence. The related circular for the Disposal was finalised and on the point of being despatched, subject to agreements being entered into. While the proposed new nomad had been in contact with AIM on the proposals with a view to being appointed by 3 August 2018, it became apparent that delisting would nonetheless occur on 8 August 2018 because the Disposal would not have been approved by shareholders before that date (being the date six-months from the date of suspension) due to the time-scale for convening the General Meeting. As a result, BMR’s admission to AIM was cancelled on 3 August 2018. Notwithstanding the suspension, following the Disposal the Company would have become an AIM Rule 15 shell company and the Directors believe that AIM’s position was related to the continued uncertainty over the licence conditions for the Kabwe project as well as the ongoing financial commitments associated with the project. Reasons for the Disposal The Directors’ objective was to maintain an ongoing financial interest in the Kabwe Project without further financial obligations, to increase the level of certainty that BMR would be able to deliver a successful conclusion for its shareholders. The terms of the Disposal, retaining for the Company a 12.5% interest in the significantly enlarged project, achieved that objective on the best terms at that time available to BMR. The Directors completed the Disposal subsequent to the delisting obviating the need for shareholder approval and the delay in holding a General Meeting. The Directors believe this was a successful outcome for BMR in the circumstances as they rapidly evolved, and that the Disposal is in the best interests of the Company, having considered other potential sources of funds and partners for the project, due to the following reasons: 1. As a result of the changes to the planned processing methodology, with consequently increased flow-through capacity and requiring a larger plant, the expected costs of construction and commissioning of the processing facility have increased significantly (the final level still being uncertain), and the Directors had no certainty that BMR would have been able to fund its share of these as yet unquantified costs; 2. The revised plans require further negotiation over the Company’s licence and there is a risk of that process not being successfully concluded or the Company being able to meet the current licence conditions. The Directors believe this risk is substantially reduced by the Disposal. 3. The Directors did not believe, given the respective positions of the Company and Jubilee, (and remain of the same view) that the terms of the Disposal could have been materially improved to the Company’s benefit by further negotiation attempts. The Company’s status following the Disposal The Directors have been in continued discussions with the potential investors for the proposed subscription of £1m, last announced on 2 May 2018, whose position and willingness to proceed became subject as matters evolved to clarification of the licence conditions. Following the Disposal and while these licence conditions remain unclarified, the potential investors have withdrawn their proposed subscription. The Directors will now re-set BMR’s strategy as it continues its path as a junior mining company, supported by its interests in Kabwe (as above) without any obligations to fund the plant going forward, the Large-Scale Mining Licence, Star Zinc and the Ester project in Portugal. Alongside that, with the full support of Jubilee as the largest holder of the Company’s shares, the Directors have already begun reviewing alternative trading platforms for the Company’s shares. As a result of the share subscription announced on 15 January 2018, Jubilee holds 97,371,298 ordinary shares in BMR (the “BMR Subscription Shares”) representing 29.01% of the issued share capital. BMR initially held 63,166,969 ordinary shares in Jubilee (the “Jubilee Subscription Shares”) and, as announced on 11 June 2018, BMR holds 46,503,697 ordinary shares in Jubilee representing 3.55% of the issued share capital, valued at £1.116 million based on Jubilee’s current share price of 2.4p per share. Both the Company and Jubilee are subject to lock-in and orderly market arrangements on the same terms: (a) following admission of the shares, 25% of both the BMR Subscription Shares and the Jubilee Subscription Shares will be free-trading with the balance subject to lock-ins by, respectively, the Company and Jubilee; (b) after 6 months, a further 25% of both the BMR Subscription Shares and the Jubilee Subscription Shares will be released from the lock-in and will be free-trading; (c) after 12 months the balance of shares (being 50% of both the BMR Subscription Shares and the Jubilee Subscription Shares) will be released from the lock-in and will be free-trading; and (d) for the initial 12 months following completion, any free-trading shares shall be subject to an orderly market agreement whereby, before any disposal, the selling party must give the broker of the respective company, not less than 20 business days to provide matching buyers for the shares offered for sale. The Directors expect to announce further up-dates as events materialise to be available on hxxp://www.bmrplc.com
02/7/2018
19:35
kryptonsnake: Deme, Yes that's right, your other 3 projects are all based around Platinum and the price of that is currently plunging, a bit like the Jubilee share price. Good luck with those LOLsss You won't be getting anymore of Kabwe, it's 40% or nothing, take it or leave it
02/7/2018
12:27
the bull: Yes, I think they will strike a deal, but it wont be great news for BMR holders, just a lifeline. Also I think you're right, JLP could drop to 2p or below with the chaos and delay of striking such a deal. To think JLP share price was doing ok before we got involved with this kabwe venture
26/6/2018
08:56
kryptonsnake: You'll know when BMR are back trading again, the Jubilee share price will actually move up LOLsss
11/6/2018
20:11
kryptonsnake: Deme, I'd be more worried about the ever falling Jubilee share price. Institutions first bought in at 3.6 pence now they just paid 2.5 pence. What's happened there then? Even BMR can raise money at a higher price than that LOLsss
01/7/2017
00:01
stav5001: Just saw this when searching google for ADVFN Bmr!!! Who writes this stuff??? Bmr Group Share Chat - Chat About BMR Shares - BMR | Page 800 - ADVFN uk.advfn.com › berkeley-mineral-BMR QS: Long term holder, with large shareholding and big advocate of BMR and it's story. Despises traders and the weak and has continually welcomed an share price drop to dispose of them and top up on the cheap
11/5/2017
13:19
red rook: I was a previous BMR investor and will buy in at some stage in the future when there is further progress made. I think there is still a long way to go and further dilution will occur before BMR is anywhere near production. I do think BMR has potential, and that for the most part AB has done a good job. However, the recent MTR debacle and the unnecessary Portugal deal has dented his credibility for me. Also, regarding the financing arrangement with ACI. I am weary, due to previous experience, that what CEO's of AIM listed companies state either in video conferences, or even in RNSs, do not always transpire in reality. One example I can give is ALO, and their Matala Mine financing arrangement with their Chinese financiers. It was supposed to have been a done deal. All done bar crossing the t's and dotting the i's. It was supposed to have government backing at the highest level. It was supposed to be progressing well and expected to happen imminently, so PIs were told. However, after months of delayed promises it did not materialize. These things happen and may not be the fault of either party. The situation with ACI may well be different, and the first tranche may well be made available, imminently. However, I do not like financing arrangements where funds are made available in 'dribs and drabs', especially when you have to have funds available to make the forwards purchasing decisions required to build a plant. It also gives the impression that ACI either does not trust the BMR board or that they themselves do not have the funds available to provide it up-front. This increases uncertainty as to whether the next tranche will also be delayed. I think it would have been better if AB had done a placing for around £4m when the share price was above the 7p mark. He would have got flak from many shareholders but at least the funding would have been sorted. Although the share price would have fallen I suspect that it would have been higher than the current share price and would not have been held back by further uncertainties.
03/2/2017
20:26
stav5001: " Spectacular" that's what I want to be able to finally say about the BMR share price! And that does not mean how well we have done from a 3P (0.3P)all-time low! So far its been a "LEAD Ballon" from 6.5P -7P trading range to 0.3P, last year and now 0.7P WOW! I am not negative, I "ZINC" we can realistically hit the "LEADY" heights if we can consistently deliver on existing RNS releases, and that does not allow for the addition of STAR ZINC, The EXISTING KABWE MINE AND ITS SURROUNDING AREA, SILVER, AND RARE EARTHS that we know are there (check previous RNS releases) ETC, that may suddenly be "re-discovered" like our V! Extraction technologies are improving all the time! "BMR the Art of Mining without Mining" Now where have I seen that before? Enjoy the Weekend ALL!
22/11/2016
18:37
qsmeily456: AB etc should be rewarded through a ladder of priced options completely aligned to the BMR share price. Anything less and you lot run the risk. I'm not convinced by words in AIM RNS'S LOLsss
07/1/2015
10:19
stav5001: ALSO posted on iii: Best wishes to All BMRions for 2015. BMRions, Why I have not posted: Personal business / life related issues, and a long planned month visiting an Ashram at the base of the Himalayas. My phone was switched off for the duration, and I have recently returned. Why I have chosen to post now: despite wanting to keep a lower profile (as BMR was taking so much of my energy and time in the past), having read considerable portions of the posts across the 3 main BB boards, including the suspension and recent RNS NON-UPDATE. I feel that small investors, who have bled to make this wild BMR adventure possible, cannot allow this to continue further into uncharted territory, without having some kind of contingency plans in place. There has been no end of wild speculation, some of it slanderous and unfounded, primarily because we do not have the facts, "Mushrooms" springs to mind, and it's clear that when investors are losing money, angry and afraid, it invariably brings out the worst, and darker side of their nature. Like most here, I am seriously concerned about my substantial investment in BMR. I have been here since early 2002, I cannot afford to crystallise the huge losses. Initially I was truly shocked to see MA go, and needed time to reflect, whilst anxiously waiting to see how things would develop, rather than just jump to conclusions. Unfortunately due to the continued lack of any detailed news-flow, the trust and confidence that I once had, that things are progressing with shareholders best interests in mind is no longer clear-cut. I would be happier if our objectives were more clearly aligned with management, where is their financial commitment demonstrated? A new broom sweeps clean, and is not answerable for any previous issues. A lower share price does not benefit already fully committed longer term holders, its just an opportunity for newcomers. This is not to say that good things are not happening in the background, but simply that without more detail and some explanation, the company’s current situation and latest RNS is very concerning. Independent lawyers and accountants, a peer review of our existing, time consuming and very expensive work that BMR funded to obtain permissions? • PREPAYMENT: PAID UPFRONT! • MISCLASSIFICATION: NOT what it was purported to be? • VALUATION: NOT worth what it is reported to be worth? These key words above need thinking about. I sincerely hope that AB will turn out to be a great asset to BMR, very capable and a deal-maker who delivers. Perhaps BMR are stalling for time, however, looking at AB's background, NO mining experience, NO African experience, does his CV suggest a big ideas man, a known company builder? How was he selected / appointed? We should all be thinking about our options, and OUR Company, just in case.... as this is AIM, and it's no game. UNITED WE STAND DIVIDED WE FALL: Regardless of people's individual views, (which we all understand will differ), there is undeniable added value for all BMRions (whether we own one share or millions of BMR shares) to come together in a united front, placing our respective differences to one side, so that we may all benefit from our collective strength, and speak with one voice. If the situation requires it, and we need to safeguard our interests in BMR, we must all agree to disagree. WHY? Sadly it is only by wielding a collectively high percentage ownership of BMR (which I sincerely believe that PI’s have), that we will have a voice, strength, and the ability to protect and preserve what brought us ALL together in the first place.........the belief that our investment in BMR would return financial rewards over the medium and long term, and that the people of Kabwe would also benefit, creating a virtuous circle. ACTION: Laffer has done excellent work, in an effort to bring us together by creating a web site and a framework; we need to recognise the value of this, by helping / building upon it and demonstrating our collective strength by registering. Why reinvent the wheel? If there is a consensus, we must somehow ensure democratic voting within that framework so everyone gets to vote and put forward the options that form the basis of voting. At this point my sole interest is to add weight if possible; by acting as a catalyst and to give my support to the notion of BMRions all registering our holding in this one place. Above all we need unity...before last year’s AGM almost 200 PI's from across the boards responded to one of my posts, how many BMRions still stand? We need the silent majority to get involved if we are to have real power. United we stand divided we fall. Let me be absolutely clear........ I am happy to support ANY individual or group who are democratically elected or have a consensus to act on behalf of the majority of registered share holders to protect our interest, if and when the need arises. I am NOT accusing the BOD or anyone of anything; we could be at the cusp of very positive news. However, Forewarned is forearmed! On reflection like so many here, I truly believed in BMR RNS 200%. I carefully followed the RNS reports and all available public information. I also believed in MA, and his large shareholding gave comfort. That is why I never sold, and why I am so over committed to a single AIM share. What I am NOT prepared to do, is to allow BMR, (which based on all previous RNS's still has so much going for it, by way of its poly-metallic assets, licenses, infrastructure, and is still debt free), to be mismanaged or spirited away. I refuse to believe it does not have great potential, and is a potential money spinner, unless it is proven otherwise. All viable options open to the company should be explored. The time has come, shareholders deserve some clarity, after all we funded most of this with our hard earned cash. We need dialogue, and transparency. If required (and we have enough votes) just knowing that we could call an EGM, vote representatives on the Board (to protect shareholders interests) or perhaps even make changes to the BOD, will seriously focus everyone’s minds. I am sure that there must be a pool of talent amongst BMRions. Please, take this in the spirit in which it is intended, I am a LT-shareholder with a sizeable holding and high average. I understand why many are now reluctant to post, I was also reticent, as .....whilst I still believe in BMR’s potential, I have been cut, and I am bleeding BMR. What do we have to lose by pooling our voting power? What we cannot afford is apathy and in-fighting amongst ourselves, if we are to maximise and leverage our potential, to protect our investment. We need to get off the fence. Where are the 300, who still stands..more than 155 for sure? We will need as many BMRions willingly on board as possible. We must put aside our differences, past exchanges or harsh words. Our mantra must be to ...RESPECT EVERYONE, AND EXCLUDE NO ONE! IMPORTANTLY, WE ONLY WANT WHAT’S BEST FOR BMR. If,... decisive protective action is required, we must be legally versed and prepared to act, but ours should be the measured voice of reason. Our priority is that we want BMR to succeed. GLA! • " It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things”. - Leonardo da Vinci
BMR Mining share price data is direct from the London Stock Exchange
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