Cambridge Mineral Resources Share Discussion Threads

[whoppy] 09/3/2017 11:09

Do shareholders have to wait until 2021/22 for CMR to create any value then?

[mine57] 09/3/2017 10:09

its due to be in production 2021/22

[dudishes] 08/3/2017 17:31

May be a good idea to contact Glencore to establish whether they ever intend to produce from Masa Valverde? Doesn't appear to mention in 2016 accounts, despite the amount of Zn; Cu & Au, quoted by CMR some odd years ago.

Probably explains why the trumpets sounded (Slater) in 2015 "coming back to AIM". Seems it was a lie, and they continue to lie.

1 or even 2% of nought, is zero.

Maybe Mr mine57 you can answer that, when will Glencore think it worthwhile to activate the Masa Valverde project?

[lochlea] 08/3/2017 15:43

Thanks for the clarification about things.

Think it's fair to add for balance sake that there have been some fairly generous payments made to some Directors over the years. Generous especially when you consider what has been actually achieved for ordinary shareholders over past 7 years.
Seem to recall from 2/3 published annual accounts that Mr Burton received some £450,000 in total over a period of time. Not too shabby. Guess the gravy train has stopped and that's why he retired. Only surprisingly to quickly come back - seemingly.

[mine57] 07/3/2017 10:21

At this point CMR has 1 1/2% NSR in the contract with Glencore. As long MV goes into production we will receive 1 1/2% NSR unless the option to purchase is exercised which they can do by buying 1/2% at $2 million and the remaining 1% at a value determined by an independent accountancy firm.

Regarding Romerita,after the drilling program was carried out the indications are that the resources is very deep and it is recommended that we carry out a deeper drilling program going down 1200 metres which will cost between 2 and 3 million euros.

With reference to Peru this was sold to a company called Laconia approx 7 years ago for shares and cash. CMR still hold some shares which are valued at zero. Other shares and the cash approx. $200,000 was used to cover company expenses at that time and the works carried out at Masa val Verde.

Regarding Mr Burton, this is a matter for our chairman. No directors or anyone else are being paid from CMR and in fact no payments have been made to any directors for over a year. Directors are covering day to day expenses from their own pockets.

[lochlea] 07/3/2017 09:53

Mr Slater

Wasn't there a deal done with an asset in Peru...... many years back?? With a future earn-in or royalty type income element to it?? Don't recall ever seeing any reference to it since - in any of the many AR & Accounts published since that asset disposal.

Why did Mr Burton recently retire and then seemingly come back out of retirement onto the Board? Could he not give up tirelessly working for CMR shareholders' benefit or is there still more consultancy fees/ accountancy payments due to you & him for keeping this going for so many years?

[whoppy] 06/3/2017 19:30

mine57, thanks.

When will we get an update on the strategy regarding the drilling done at Romerita?

[tailor1] 06/3/2017 18:58

Mine57 basically CMR is finished and no one will get anything now. Even if Glencore sell it to another company our pie in it is nothing.

Please correct me if I am wrong

[mine57] 06/3/2017 10:15

there are no plans to do so at this time

[whoppy] 04/3/2017 15:56

mine57.
So when are CMR going to be relisted?

[maxwell] 28/2/2017 08:40

Unless you have substantial excess Capitol gain over and above the annual
current exemption there is no point in realising the loss here.

[jle] 27/2/2017 17:08

Vauch. You are correct also.

[jle] 27/2/2017 17:07

Channel Pirate. Ignore him. He wants shareholders to think he has a clue what he is talking about. He persistently has misled people around re-list. The only persons gaining out of anything would be himself, and the other directors is my findings. Slater changes his story every possible opportunity. Shocking people like that are able to even be part of a company let alone be part of running one

[vauch] 27/2/2017 10:20

any money this co makes will be used against debits of the last 8 years we wont get a farthing (sorry that's old folks money) a penny back

[whoppy] 27/2/2017 10:09

So when is CMR going to be relisted?

[channel pirate] 27/2/2017 10:03

Thank you Mr Slater, see, things have changed already from what I was originally told.

[mine57] 27/2/2017 09:40

What we have is 1.5% Net Smelter Return (NSR. Glencore have the right to purchase 1/2 % for $2 million and the remaining 1% at a price determined by an independent body.

Re. Romertia, we have an option agreement.

[channel pirate] 26/2/2017 09:10

I have made enquiries via an accountant, the HMRC, and Cambridge Mineral Resources itself. Although CMR de-listed from the AIM in March 2009, then they were still issuing shares last year to raise money for the re-list that never happened.

The following information is what I have been provided with by the accountant after they have contacted HMRC, and CMR itself:

Currently you can claim back a Capital Loss up to 2 years after the company has ceased trading, against any Capital Gain profit(s) made in subsequent years, but as Peter states above the company haven't ceased trading and the company is "still alive" !! Anyway, as it is now almost 8 years since any shareholder has been able to trade their shares on a stock-market, and the likelihood of the shares trading on a stock-market again is highly unlikely, then HMRC are able to take a view.

As I understand it then at the moment the company has the prospect called Romerita to "work" or sell, and the right to a 2% smelter return from Massa Valverde if and when it goes into production, or to sell that right (assume Glencore has to agree with it) if anyone wants to buy it. Maybe Mr Slater would correct me if this is wrong.

If (BIG if) the company were to make some money and share it out with the shareholders, you would have to repay back to HMRC some / all the relief on the Capital Loss you have claimed.

The above information is only what I have been told by an accountant, HMRC, and the company itself, but as always, please make your own enquiries as HMRC rules and Cambridge's situation can / could change at any time in the future, or even since I have been provided with that information.

GLA if you have a Capital Gain you can claim against a Capital Loss, and it all works out for you.

[1399peter] 26/2/2017 06:46

The company (and I use that term loosely) has not yet gone into liquidation or ceased trading. I think its now been turned into some sort of pension plan for the remaining directors (and I use that term very loosely also). It's certainly not being kept alive for anyone else's benefit so I am sure you will be able to write them off as a loss, (a dead loss) They should all be ashamed of themselves.

[nmf777] 23/2/2017 20:55

I thought there was a time limit on using losses as an offset but i could be wrong? My point being that these have probably had 'negligible value' for some considerable time now

[2trying] 23/2/2017 20:25

A question asked on another bboard - I would like to reply .


Does CMR still have an office in Potters Bar and is anyone therein during daylight hours?

[john185] 03/2/2017 13:23

Thanks Maxwell
Appreciate you taking the time to clarify this for me

[maxwell] 03/2/2017 13:07

You can inform the IR of the value paid for shares along with date and offset against a gain. Then any future share price value when disposed must be put as a gain and tax paid, although seems unlikely. Well done you to actually have gains over and above annual allowance to require offset....