BMR Mining Share Discussion Threads

[bookwormrobert] 21/4/2017 18:04

No, AB is simply stating that he does not have the money in BMR's account. And there can be a lot of difference between asking for money you feel that you are owed by contract and actually receiving it. I know, I've been there a few times.
(I know this point may be hard for people in law-abiding UK to understand, but those who've done business worldwide will understand me better. Remember, how hard it would be for BMR to actually sue ACI. In these circumstances, even a signed contract has only limited real enforceability.)

[kryptonsnake] 21/4/2017 18:01

Have you got any proof of your claims that AB gave out market sensitive info? This particular phone call regarding the ACI loan is not insider info is it? How can it be when it's written in black and white that the ACI loan is still in place, and we are awaiting the first drawdown. It's all public knowledge, and if you doubt it then you clearly have trust issues.

[kryptonsnake] 21/4/2017 17:57

Bookworm, read the interim RNS if you don't believe me, I will copy and paste it below for you to read.

'Furthermore, in September 2016, we entered into a project construction and trade finance facility for up to $5.2 million with ACI of which up to $4.2 million is for use in connection with the Plant and $1 million for the Star Zinc acquisition. We have initiated the first drawdown from this facility which is interest free and expect to receive the initial funds imminently. Under the terms of the agreement, the drawdown facility includes an arrangement fee of $109,800'

So they have initiated the first 'drawdown'. I know the word 'imminently' is used, but if the loan was not on the table, AB would be lieing and committing an act of fraud if it were not true!

[bookwormrobert] 21/4/2017 17:56

Yes, about that curious post on LSE. If to believe it, prima facie, on a certain date AB apparently gave out market sensitive information in a phone call to a PI, who then promptly used it to make a profitable investment. And this allegation can be proved by simply checking against where AB was and what he was doing that day.

If this turns out to be true, do you STILL think he is fit to be the CEO of a PLC???

[kryptonsnake] 21/4/2017 17:52

Ah yes, markjwal also posted it on here too. He's probably the same person.

[bookwormrobert] 21/4/2017 17:49

Where did AB say that he had received the first drawdown of the loan? Didn't he only say that he expected to receive the money "imminently"? And it's one thing to ask for money owing; it's another thing to actually receive it. Please correct me if I am wrong on this.

(And if AB isn't having problems with ACI not paying up, then what on earth is the reason for the current delays?)

Finally, no, I don't think AB is a liar and a fraud. I'm sure he has many virtues. However, he is not the right man for his current job. At all.

[kryptonsnake] 21/4/2017 17:49

Just one more strong piece of evidence regarding ACI: this was posted on LSE on Wednesday 19th. The poster also purchased 100k shares on the back of this phone call...

'Yeah, I had a conversation with Alex earlier, steadied the nerves a bit, ACI loan is still on, he was just doing the voice over for the drone footage to be released ASAP, sell off is way over done!'

Now I'm not saying I believe everything I read, but I have no reason to doubt this poster.

Last week you were moaning about the negativity on this board, now you are making claims thst cast doubt over the management, the ACI deal, and saying it's a HIGH risk investment. Rubbish!

[kryptonsnake] 21/4/2017 17:28

Our broker WHI who has a target price of 27p for us (Vanadium not included) also said that BMR is a low risk investment.

[kryptonsnake] 21/4/2017 17:25

And your comment about ACI is flawed. 3 weeks ago Alex stated in the RNS that we have made the first drawdown of the loan. If that's not proof of the ACI deal still being in place then you are accusing Alex of being a liar, and a fraud.

[kryptonsnake] 21/4/2017 17:18

Yes people have sold at these low levels and they are fools. People sold when we dropped below 5p last year and we went back above 9p. It might not be long before we are back to 9p again. I'll be holding on for the bigger gains though.

I know how the markets work, and I know those that are selling now will regret it.

[bookwormrobert] 21/4/2017 17:00

Kryptonsnake - my comment on ACI only a guess, but an educated one. Time will tell who is right and who is wrong on that.
Also, BMR's shareholders are already selling at lowball prices - at 5p or 6p at the moment. And it will take only a little more incompetence and a few more delays for them to lower their expectations even further. That's how markets work.
Finally, if this is a medium risk investment, I'd love to know what you think is a high risk investment. Drug smuggling? Russian roulette?

[kryptonsnake] 21/4/2017 16:28

Lol I'm beginning to think you and QS are the same person. Funny how you was having a go at him not too long ago, and now you agree with everything he says.

I think this is more of a medium risk investment, certainly not high risk. Your comment about the ACI deal is ridiculous, of course the deal is still on. Good luck finding a buyer, as I said, shareholders won't take a low ball offer, many have higher averages.

[bookwormrobert] 21/4/2017 15:56

Hi kryptonsnake! Yes, there is a real risk of bankruptcy and shareholder wipeout under the current management. This is a high risk investment. But the basic business maths here is so good that it offers some protection: it is genuinely REALLY hard to screw this opportunity up, and even a distressed sale of the company's assets would easily exceed its mcap.
Qsmelly's proposal has a lot of merit for shareholders. I'd support it. In particular, he's right about the pilot plant; it would actually be much easier to raise a little more money and to build a proper plant straight-off. (FWIW, I'm guessing that the ACI deal is defunct/inoperable, and that's what's behind the current impasse/malaise).
But for now I'll concentrate on trying to interest a buyer in a takeover. (BTW, that's not so naive as it sounds; I've spent my entire working life in this world.)

[kryptonsnake] 21/4/2017 15:21

I'd rather have AB running things than some AIM snake that would take a huge salary, dilute holders to death, and ultimately run the company into the ground.

Most of the things you have listed are history and we can't change it. Every CEO makes mistakes. Things could be a lot worse.

[kryptonsnake] 21/4/2017 15:16

£10M MC and £1B profits you say? But if you don't trust the management to deliver then why bother investing? Surely you risk losing all of your money?

If it was that easy I would sell all my belongings and invest it all here.

[qsmeily456] 21/4/2017 15:07

Exactly and worm and I seldom agree.

So what are shareholders going to do to get the change needed? Are they going to bend over and drop their pants like they did for MA or group together and go see the NED and Alext to say you've got 3 months to turn this mess around get real value coming through or we will force an EGM and force a vote LOLsss

As for what he screwed up

Loan terms
Dilution prices
Option pricing
Take over bid timing
Portugal rather than Kabwe
Plant pilot instead of proper production
PM and company personnel
Presentation look feel and content

They look like a bunch of amateurs LOLsss

[kryptonsnake] 21/4/2017 15:05

Putting aside the delays with the plant build, what exactly are the management screwing up? AB has secured a loan to cover the build costs, and the plant is being built. If it's completed this year then you won't hear any complaining from me.

[bookwormrobert] 21/4/2017 14:53

I'm invested here because BMR's mcap is about 10m, and the potential profits are about 1bn. It's REALLY hard to screw that kind of maths up, though current management is giving it its best shot. Trust me, I know this world, and it's not THAT hard to find $5m and to get a tailings plant up and running. Qsmelly is quite right; this is essentially an easy job for a good CEO.

(If you don't believe me, take a look at Hummingbird Resources. That's what a well run junior miner looks like.)

[kryptonsnake] 21/4/2017 14:40

It depends what you're referring to when you say he's ballsed up lol. If he delivers production this year and everything else falls into place, will you still be complaining?

[qsmeily456] 21/4/2017 14:33

You sound too protective to be objective. He's made a right balls of an EASY JOB FOR A CEO LOLsss

[kryptonsnake] 21/4/2017 14:30

As I've said before, what Alex and the team are trying to do is no easy task, especially operating in Africa, where you have corruption and government bodies that are very slow at dealing with approvals etc. We can't blame Alex for everything, but yes, he needs to up his game.

[kryptonsnake] 21/4/2017 14:25

Why would you invest in a company if you think the CEO is clueless?

[bookwormrobert] 21/4/2017 14:04

That was the idea in due course...

[qsmeily456] 21/4/2017 13:43

.
Separately, I've also been given convincing evidence that information is leaking out from this company contrary to market rules. So, GLA and take care!

Supply this to the FCA so you can remove the clueless twit....which even for me is a bit harsh.

Alex does need to up his game for sure he's made a right balls of an easy task. LOLsss

[kryptonsnake] 21/4/2017 12:31

Definitely a few leaks in this ship. It always seems to drop before bad news or does the opposite before good news.

Agree with the plant build taking too long. I think they might have changed their minds about making a semi production plant as opposed to a pilot plant, also factor in design changes for the Vanadium. Still, it shouldn't be taking as long as it is.

In regards to a takeover here. I doubt one will happen pre production, and any takeover attempt within the first year will probably be strongly opposed by shareholders. I want to see BMR grow and get to at least 1st stage production ramp up before any buyers come sniffing. So I believe a takeover won't happen anytime soon.