Following my piece HERE which voiced concerns that formerly AIM-listed BMR Group (BMR) had simply been executed by the oxymorons, I had a chat with the company to find out what comes next. My hope is that the company will release a statement in due course, but in the meantime what I can report is that it seems all is not lost. I can also report a little more on the loss of its licence in Zambia (which was subsequently restored).
I wrote a few pieces on (now formerly) AIM-listed BMR Holdings (BMR) back in February when its Zambian Mining rights were stripped away – the previous threat of which it seemed to know of the previous September (when it did a placing) but did not share with the market. That was eventually resolved and the rights restored, but this morning BMR was given the boot from the Casino. Perhaps we should not be too surprised, but I wondered what was going on here. What I have been told suggests an absolute scandal – but not at the hands of BMR…..
Further to my pieces on the BMR Scandal, we might note that BMR completed a Placing via those fine upstanding chaps at Peterhouse Corporate Finance to raise £0.8 million at 2p, as announced on 14 November last year. This was, of course, when BMR knew – but the market did not – that it had received a default notice regarding its Kabwe project in Zambia.
Well, well. Yesterday AIM-listed BMR ‘fessed up that it had received a default notice way back in September from the Zambian authorities with reference to its Kabwe project. The company didn’t notify the market of that until yesterday, when it ‘fessed up that it has now been stripped of the license. So what of its joint venture partner, fellow AIM-listed Jubilee Metals Group (formerly Jubilee Platinum, JLP): what did it know?
AIM-listed BMR updated the market at 1.15 this afternoon: it has been stripped of its Zambian Mining right and the shares are now suspended. And it seems the threat was known back in September, but the company didn’t bother to mention it.
In this video from the storming success that was the 2017 UK Investor Show, Alex Borrelli, CEO, and Jeremy Hawke, Mining and Operations Director, of BMR Group (BMR) are at the podium. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
Ok, WH Ireland employs a good selection of total tossers and it is Nomad and Broker to BMR Group (BMR) so its research is not impartial. But the news from Kabwe yesterday was good and, as you know, I am a fully paid up member of the Alex Borrelli fan club. Borrelli has saved BMR after the former chairman stole all its cash and is one of AIM's honest chaps.
Alex Borrelli has brought BMR Group (BMR) back from the dead.As such he is one AIM CEO I am not going out to bash. At UK Investor Show he explained the past and future of his company.
The next video interview from Gold & Bears is with my old pal Alex Borelli, the Chairman of BMR Mining (BMR) who has saved this company from the extinction it faced thanks to the way its former boss stole all the cash.
John Meyer does not hold back with a withering comment or two on Berkeley Mineral Resources. Today's morning mining note from John and his colleagues at SP Angel also covers Sirius Minerals and Nord Gold as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer is in our good books today for a cutting take on events at Berkeley Minerals. Today's morning mining note from John and his colleagues at SP Angel also covers Ironbridge Resources, Goldplat and Shanta Gold as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Shares in AIM casino listed Berkeley Minerals (BMR) remain suspended as forensic analysts investigate the scope of the accounting black hole within the company but, following an RNS today, we know that the quantum is not £4.3 million as previously announced by £11 million. Surely jail time beckons and I have a nomination to make.
