KALAN
12 Apr 2018
Re: BMR I think JLP missed a trick - if they had been aware of the licence revocation they could have approached the Government with an application for the licence themselves with their plans and war chest of money and then snapped up the remnants of BMR for a million or two.Anyway it's all water under the bridge now - let's hope that they work well together and make us all some money whether you in one camp or the other or both.(Correction - we ARE all in both camps - BMR shareholders own 5% of JLP and JLP shareholders own 29% of BMR - win win, win win).
stuee123
12 Apr 2018
Re: BMR WeebleYou will never buy Bmr. I can't keep saying the same thing to you all the time. I know you would live to own a great asset ready to go to production as Jlp share price has been a disgrace for years. You are desperate weeble. You see bmr as away out of jlp miserable existance. IT WILL NOT AND CANNOT HAPPEN. THE ZG WILL NOT ALLOW IT AND THE LICENSE WILL BE REVOKED.FORGET IT WEEBLE
TheWeeble
12 Apr 2018
Re: BMR Your reasons why JLP wouldn't bid for BMR are wrong. The offer wouldn't have to be massive because BMR shareholders would get the same, if not more upside, by owning JLP with 100% of Kabwe versus owning BMR with it's current 42.6% of Kabwe. JLP own 40% via the JV and 17.4% by owning 29.01% of BMR equity. There is potentially more upside for EXISTING BMR shareholders with JLP because they won't suffer as much dilution with JLP because JLP will be funding Kabwe with their 50m USD loan facility. EXISTING BMR shareholders could get heavily diluted if they stay with BMR because BMR may have to fund their share of the Kabwe costs with equity, not debt, and the funding may have to be done through new investors to raise the money required quickly.Also, the Zambian government revoked the Kabwe license because they were dissatisfied with the progress BMR had made in the last 8 years. Why on earth would the Zambian government favour BMR over JLP? JLP can point to what they have done at Dilokong and Hernic and they have the advantage of their USD 50m facility being ready to draw down. My view is the Zambian government would have a strong preference for JLP over BMR and I was surprised that folding BMR into JLP wasn't a condition for the license being returned. Anyway, time will tell whose view is correct here. It will come down to which management team and which funding structure for Kabwe the existing biggest shareholders of BMR prefer. They will assess which option minimises dilution and take into account any new money required from them. I would have a strong preference for JLP if I was them.
stuee123
10 Apr 2018
Re: BMR isphahanTwo reasons . Any offer unless massive would be refused. If it was accepted it would require agreement from the ZG. You would not get it and if you did it would delay the Kabwe project for months and the license would be revoked forever.Do you know there are other interested parties that are desperate for the license. They have courted the ZG already. The ZG would not entertain Jubilee when there are huge companies already in the waiting.
isphahan
10 Apr 2018
Re: BMR I assume the question you are referring to is "why would the ZG allow JLP to purchase BMR"? My first response is -why not. It is not that BMR holds the Zambian Crown Jewels.In fact it is a very insignificant company that with the right management and finance can be turned into something respectable. When all projections are seen through JLP will be the controlling shareholder of BMR and by extension Enviro Mining and other subs. I can see no impediment to increase the shareholding further or even own 100% of BMR.
stuee123
09 Apr 2018
Re: BMR IsphI would hope you could answer my question below. It would be impossible for anyone to buy bmr just now.
isphahan
09 Apr 2018
Re: BMR It is reasonable to blame LC for poor due diligence, however an honest counterpart would have disclosed the possible cancellation of the license. Reading your words below it seems that BMR had full knowledge of the impending cancellation (hence the deal with JLP) ????? this is not a good start for two companies that want to collaborate. Rather than looking at JLP for faults I think BMR has plenty to explain.What are your thoughts about the mandatory offer to minorities once JLP has crossed the threshold?
stuee123
09 Apr 2018
BMR isphahanI have no problem with JLP. I do have issues with your buddies spouting out total nonsense on BMR. Due to the license and ACI issues BMR were forced to consider a JV with Jubilee. All licenses were revoked that were not processing. BMR was not singled out. The license was reinstated due to BMR representation not Jubilee ( FACT). What concerns me is Leon cannot carry out basic DD. Would you agree or d you think Leon was fully aware of the license issues and he deceived his own shareholders.On what grounds would the ZG allow a sale of BMR to Jubilee g through. The ZG would not sanction any sale of BMR at this point. Jubilee shareholders will buy shares in BMR ( FACT)
isphahan
09 Apr 2018
Re: Bringmyreward stuee123, what is your problem with JLP? You hack us for trading way below our peak - but unlike BMR, at least we are trading! Why did your beloved BMR board do the deal with us if you had other options? The point is that you were in dire straights. Why would the Zambians cancel your license if they had confidence in BMR 's activities? It is clear that there was NO working relationship between BMR and the Zambian authorities as is proven by the cancellation. Be happy with JLP and do not be surprised if BMR gets taken out. Does JLP' with the potential shareholding (once all the financing is done) not have to make an obligatory offer to minorities?
stuee123
08 Apr 2018
Re: Bringmyreward The ZG would not allow any takeover to happen.
stuee123
08 Apr 2018
Re: Bringmyreward It is IMPOSSIBLE for Jubilee to buy out BMR as the neccessary changes within ZEMA ZG and legal time involved would drag on and the license would be revoked. The Plant has to be built and even then it would be difficult as the license would be up for renewal. I hope that puts a stop to Jubilee ever buying out BMR. PMSL
stuee123
08 Apr 2018
Re: Bringmyreward WeebleBMR have big plans. They have not ruled out the ACI money. See RNS.BMR signed a deal in 2016 from ACI to build the plant. BMR have built part of the plant through placings etc however the ACI deal has let down BMR and the whole of 2017 a complete shambles. Plan B as the ZG are now in the process of revoking licenses BMR need to act hence the Jubilee JV. If BMR received the 5m from ACI Jubilee would not get a look in on Kabwe. Thank your lucky stars but don't get greedy BMR still hold the cards no deal has been signed yet.I hope ive answered your questions but i know you post on Jubilee buying BMR.
TheWeeble
07 Apr 2018
Re: Bringmyreward If the funding might be back on, why delay relisting for a £1m placing? If BMR have the know-how to process the zinc, lead, and vanadium at Kabwe, why have they sat on the small scale license since 2010 without processing it and why do they now need to do a JV with JLP?
stuee123
07 Apr 2018
Re: Bringmyreward Weeble BMR announced corruption was a factor. To get the license back took different tactics . It wasn't Jubilee. BMR were let down by ACI for funding but maybe back on track which would mean we wouldnt need Jubilee finance. In terms of process BMR through testing have the processing knowledge. Sorry weeble but true
TheWeeble
07 Apr 2018
Re: Bringmyreward I don't think BMR would have got the license back had it not been for JLP's track record and financing but I'm relaxed about BMR getting the credit. The most important thing is they got it back. Making money out of surface processing is hard and even harder for smaller companies. They need expertise, a track record, a tailings pipeline, financing to build the processing plant, and multiple earnings streams in case one project misfires. JLP are much closer to getting out of that rut than BMR. If BMR shareholders go it alone with the current management team it will be placing after placing and more and more dilution and when they start making money from Kabwe next year, a big chunk will go towards paying overheads. JLP have been through that process of establishing initial earnings streams at Dilokong and Hernic and building a pipeline at Platcro and Kabwe, it's dilutive and destroys shareholder value. If BMR shareholders get a decent offer from JLP and the opportunity to skip that, they should take it.
