BMR Mining Share Discussion Threads

[red rook] 17/5/2017 09:59

This is no longer an investment but a speculative play. I have not been tempted to buy in. It will not seem like 'such silly prices' if the ACI money fails to arrive by the 26th.

Also, AB has done a poor job in the way he has presented the RNS:

'the Company needs funds in the immediate future, the Board has been looking for alternative sources of finance and is in receipt of two alternative conditional proposals to meet its requirements for the rest of the calendar year.'

Are these funds needed 'in the immediate future' to keep the lights on, or for getting the build process going. Either way one has to expect a further delay in the time-line to production. Question is by how much.

[fireball xl5] 17/5/2017 09:44

Bookwormrobert. Thank you for your thoughtful and informative post.

QS J99, nearly bought yesterday but I had a call from Paul, he was a bit tanked up, said wait till the morning they will be on offer. Well one has to at such silly prices.

[banking_losses] 17/5/2017 09:17

Friday 26th May the dreaded 4.20pm RNS

"ACI have not been able to make the payment as agreed here are our options 1) £1.8m *placing for 40,000,000 shares at 4.5p 2) death spiral finance with some insidious financial arm like Darwin, have a great bank holiday weekend."

*with Warrants at 9p on a 1 for 1 basis in 12 months time.

[markjwal] 17/5/2017 09:07

More top ups from me, QS talking it up now he's bought in. QS - considering the number of BMR meetings you go to and contact with the board and with Stav are you not also partly responsible? LOLsss

[99jeremiah] 17/5/2017 08:54

Phew, good to hear that Smelly as I held my nose and got a few more myself this morning. Just for the record, you're not related to that octopus who was calling the correct results in World Cup football games a few years ago, are you? :-p

[bullinachinashop3] 17/5/2017 08:54

you did call it robert, fair play.

[qsmeily456] 17/5/2017 08:40

For the record I'm filling my boots on the drop LOLsss

[banking_losses] 17/5/2017 08:08

I did say the phone call didn't fill me with confidence.

Qsmeily456 on the money again.

[bookwormrobert] 17/5/2017 07:28

Well, the RNS confirms my previous strong suspicions that ACI are no more than a couple of big-talking Zimbabwean spivs, and that AB is no more than a naive clueless sucker to fall for their bragging. WTF? Who does a finance deal with a partner who has no money themselves, and then touts the deal all over Africa in an attempt to finance it?

I repeat, AB is not fit to be the CEO of a public company. For now, lacking details of the alternative finance plans (death-spiral?), this is a bargepole stock, despite the appeal of the assets. I expect today will be a very rough day for the share price

[poombear] 17/5/2017 07:20

Now that's an ambiguous RNS, bit of scope for a further drop in price there. I am watching...

[qsmeily456] 16/5/2017 22:17

Where big mouth no balls brain box krypton factor now LOLsss

Can you smell the money???? Positions filled LOLsss

[banking_losses] 16/5/2017 13:30

Q

Being cheerleaders for the company has served shareholders so well though.... so I can't see enough shareholders getting together to hold Borrelli to account for slow progress and shady funding agreements.

[red rook] 16/5/2017 12:43

What AB has to address going forward is what mechanisms will be put in place to ensure that the monies required for the plant build will be made available by ACI, in a timely manner. Otherwise, BMR as it stands is not an investment, irrespective of how much potential they have in the ground. It will just be a speculative play for day trading.

It certainly increases the possibility that further placings may be required to pay for the build either in part or in full, together of course with any operational costs.

[red rook] 16/5/2017 12:05

Regarding the ACI funding:

I suggested in my previous post that ACI may not have the funds available to provide it up-front.

However, it is some what amusing to learn that AB 'had sent out a director to chase up with ACI to see if they can close the deal.'

How can you build a plant with monies that are coming in tranches and you don't know if the next tranche will be delayed or even pulled because the lender themselves have to chase up for the money.

[banking_losses] 16/5/2017 11:43

I asked when the first drawdown was initiated and he said a 'couple of months ago' and that he couldn't tell me anything further than what BMR had announced, I said the drawdown was first mentioned in December RNS but he wouldn't really get specific.

I asked if the drawdown was hampered by BMR not hitting agreed key milestones, he was very quick to quash that concern and said BMR was hitting its milestones. I explained shareholders did not know specifically what the milestones were hence why some may think that's an issue especially given production has fallen back another 3 months.

I was surprised to learn that the funding is not as straight forward as ACI have the cash and give it to us upon hitting agreed milestones. ACI get the money from other companies/sources working in Africa and it's a fairly laborious process from what Borrelli explained.

He said he had sent out a director to chase up with ACI to see if they can close the deal.

Borrelli suggested an RNS with an update would be in order over the next few days to inform shareholders.

Didn't fill me with confidence but I'll wait for the update RNS.

[markjwal] 16/5/2017 11:36

Wiggle, there are questions one can ask without the reply requiring an RNS!

[wiggle1] 16/5/2017 11:33

As if he is going to say anything, or should I say, he can say anything on the 'phone, we want facts or RNS announcement !

[markjwal] 16/5/2017 11:27

I was going to call him the other day, tried about 20mins ago and he'd popped out, will try him later cheers

[banking_losses] 16/5/2017 11:14

Yes Mark, roughly half an hour ago

[markjwal] 16/5/2017 11:03

BL, have you spoken to him today then?

[banking_losses] 16/5/2017 10:54

Alex is in the office if anyone wants to call him now is your chance