We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bmr Group | BMR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.90 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.90 | 1.90 |
| Top Posts |
|---|
Posted at 12/10/2019 06:36 by atino Jubilee Metals Holdings PLC (LON: JLP) Chief Executive Officer Leon Coetzer caught up with Zak Mir for an exclusive interview to discuss what investors can expect in the coming months.Expanding its surface processing footprint into lead, zinc and vanadium from historical surface deposits, Jubilee established the Kabwe Project in Zambia. The acquisition of the Sable Zinc Kabwe refinery has now been completed, and Jubilee’s engineers have commenced the process to upgrade and integrate the recently acquired refinery to the Kabwe Tailings recovery project. The first phase is targeting the production of vanadium pentoxide and zinc concentrate, while phase two is targeting production of refined zinc and a lead concentrate. Jubilee will bring the copper refining line into operation to capitalise on the regional demand for such refining capacity. From 10:25mins onwards: (1st Quote) Copper recovery circuit already in operation 🙌 October is the first copper to be plated (very excited 😛) - first copper to be coming out 🙌 (2nd Quote) Second target (by H1, 2020) focusing on vanadium & zinc circuits 😉👍 (3rd Quote) Kabwe has the ability to DAWF jpl’s current earnings ! 🤑🤑 WOW 🤑 He states, unbeatable earnings for JPL. |
Posted at 29/8/2019 13:24 by fireball xl5 Can’t disagree with you there Plat. They will, I’m sure, only have their interests at heart. The sub division and any subsequent cash call, prior to any agreement on royalties, could potentially offer new investors a very nice incentive and ability to Collect the larger share of those royalties. |
Posted at 28/8/2019 10:39 by plat hunter I don't envy the situation you have found yourself in at all and I would be gutted if I found myself caught up in something similar.I of course only have a peripheral view of all the circumstances but it seems to me that the Kabwe Royalty should be atleast the safest route to ensuring that all investors eventually get their money back. I would have also thought the name change, cash call and relisting would be detrimental to that. Sacking the BOD, placing the company into administration and collect the royalty for the benefit of the shareholders would be my favoured view |
Posted at 25/8/2019 09:36 by fireball xl5 For any interested:Great to meet holders yesterday and put faces to Avatars. We even met a very large shareholder, a lady with a small interest and a very jolly chap originating from Aus. Bring, Klue myself and Mr Aus took it upon ourselves to uphold the post AGM Alikhani tradition and nobly attempted to drink the Globe dry. Our largest personal holder was also present. We must increase attendance for the next meeting and have an overall willingness to plot the best course for what remains. BMR is a fugitive to reality until the option to acquire EML is exercised by JLP. Once this takes place the royalty agreement, whatever this may be, kicks in. I presume that Alex and co will agree this and on acceptance and signing the option could be exercised. I believe they have till September 2020. Without EML under jubilee’s belt, they don’t own the tailings and whether they have access to the site or the tailings needs to be clarified with Alex. The Sable plant just purchased would be pretty Patel useless without exercising the option. Please correct me if I have some of the ownership rights or the large scale minIng licence wrong. As far as I’m aware, although I wouldn’t be absolutely sure after recent revelations, EML and its subsidiaries EProps and EPro hold the assets on behalf of BMR. Once JPL exercises it’s option over EML I presume the royalty agreement , yet to be revealed, kicks in and we receive our 11% due to the excessive capital spend on Sable by JLP. Well that presents a dilemma, if there is no agreement then I presume no option can be triggered as a non royalty agreement cannot be triggered. It’s absolutely pointless to allow the board to provide the sub division and pursue the Dysentery venture and potentially dilute existing holders to the same revenge. We must get the EML deal over the line and the royalty triggered. I’m presuming that Kabwe Operations would free carry the asset the way Leon has put the deal together by repayment of the capital project funds to Jubilee. As part of the royalty deal that asset should be owned on the original 60/40 basis or Kabwe Operations should be required to purchase that share. That would allow Alex to pursue Montezuma without the need to raise and dilute. The royalty is extremely valuable and whether it is ring fenced, which would bear administrative costs and not be open to new investors, or used as an income stream to lift our share price above 1p on relisting. Jubilee could release their 29% to investors, get out of being in a conflicting situation and recoup their investment. The royalty needs to be tightly monitored and collected so that the revenue stream which will be substantial unless the sly bod have a cunning plan to rape and pillage. Alex can use the royalty as an incentive to future investors or a new captain can use the income stream and the bags of losses to reverse in other ventures. We now need to be very clear and we need to be in attendance and attentive. We need to carefully monitor Alex’s next steps and work with him under scrutiny to ensure our interests are carefully protected. Remember, JPL do not have the tailings or the site. Alex appears a little battle weary and susceptible to Colin and JLP’s intentions may not be totally honourable. I suggest we look to maximising our current position as we have the asset and JPL have a plant, together we can tango. I would like for some of us to carefully monitor events and contracts going forward, I have a family member who might be able to look at contracts/agreements or we can designate an independent third party agreed by BMR and JPL. We made have stopped some strong arm tactics yesterday and not allowed vultures to enjoy their supper. Yond Alex has a lean and hungry look, but he doesn’t think enough like someone BMR. I do feel that a small number of shareholders have been grossly misled by management for whatever reason. Those should maintain their own court until we meet and discover what the next steps might be. Apologies for being a little verbose but I’m tired of being treated as an irritation and so I believe are my drinking compatriots. BTW, the last AGM I attended someone threw themselves under a train and I missed the main part of the event. Last night someone once again decided to end their days on nearly the same stretch of track. Although not arriving home until 6am my thoughts are with that person and any family and friends |
Posted at 28/3/2019 11:29 by plat hunter Looks like BMR's royalty is going to be equal to around 66 million over the life time of the project (circa 18 years)and will start hitting the coffers from approx 2021.Lets say for arguments sake that 30% of that is going back out of the door to JLP, pursuant to their equity stake in BMR, leaves 44 million over 18 years or 2.4 million a year on an mcap at time of suspension of around 2 million. That is a result and providing Borelli finds a way of returning that value to shareholder then in the grand scheme of things he's turned a terrible finance situation into a long term security for the investors. Well done and good luck to all, in your future endeavors. |
Posted at 06/3/2019 09:17 by wiggle1 Ha ha, BMR are pleased to announce that we have found yet another way to put more money in our pockets and screw the investors/shareholde |
Posted at 10/1/2019 12:09 by kryptonsnake Alex Borrelli already has a licence, a licence to rip investors off LOLsssIdol threats about legal action. Will he be using shareholders money to pay his lawyers? Smelly for CEO LOLsss |
Posted at 05/10/2018 19:51 by plat hunter Krypton, how can someone buy a company if the equity isn't being offered to them..the equity is privately owned, Borrelli, can't broker deal for a new investor on behalf of existing owners who are not complicit. what fantasy world do you live in? |
Posted at 25/8/2018 21:10 by plat hunter BMR Watch.. It's been put together by the same people who were telling you all not to worry because they had assurances from Borllie about new investors and everything is going to be okay.they distracted you from doing anything for the last 6 months and they going to do it for another 6 months |
Posted at 21/8/2018 10:18 by deme1 20 August 2018BMR 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 (“Jubilee̶ 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 “Disposal̶ 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.co |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
