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Tobin, where to start?
BMR ran in trouble whilst Borrelli was chairman and head buffooon. Borrelli is on very few BMR shareholders Christmas card list! No longer a director he is still listed as secretary. He has a holding of close to 2.5 million shares, CB holds 500k shares. CB came on board and there was a royalty agreement with Jubilee, also Jubille have a 29% holding in BMR. The main question for BMR shareholders is about that royalty agreement; whenever questions are asked a cloud of obfuscation descends.
Earlier this year CB changed the name from BMR to Kendrick Resources via an AGM resolution. Presumably the royalty agreement carried forward from BMR to Kendrick.
Kendrick have a deal with Pursuit Minerals for some Scandinavian projects. This will be the vehicle for re-listing Kendrick Resources, but that has been dealyed from mid year to end year 2021.
The royalty is why the Kendrick Resources (ex BMR) shareholders are interested in what Jubilee are doing at Kabwe. Cyprus, Australia, and any other countries are interesting but Kabwe is an environmental disaster zone and needs attention now. CB has stated that proceeds from the royalty are some years away which seems to suggest that Kabwe is low on Jubilee's priority list, I may be wrong.
Ancient history, BMR was previously run by a bloke called Alkihani (spelling??) who was simply an out and out rogue!
Check the Kendrick Resources web site Reports & Accounts - Circulars and Notices. Companies House for other information.
All in the public domain.
Views are mine E&OE
KT, one of our two Directors, has been appointed a non-ex at Xtract Resources. Wonder where his priorities will be?
Help me out here please.
Seems to be a "view" about Sandfire and their investment.
How does this eqaute to their 15% shareholding in African Pioneer PLC, another of CB's many companys, see African Pioneer PLC RNS dated 1st June 2021.
Just wondering?
Tried again today, no letter! Equinity phone number requests details you do not have, because you haven't had "the letter". Spent ages on hold listening to awful music and periodic less than helpful messages and got nowhere!
I remain to be convinced that Equiniti know what they are doing re ABDN share/holders.
Would be interested to know if any ABDN shareholder has received a letter from Equinitiy which enables them to trade (buy or sell) ABDN shares.
Would complain to ABRDN but web site seriously lacking in contact details!
Appalling service or rather lack of. If they transferred the portal to Equiniti why is it taking so long to set up an account. Letter, what letter and when? Telephone, don't waste your time, loads of irrelevant stuff and no progress. We, shareholders, are being prevented from trading our abdn shares, it is as simple as that. Total disgrace. Obviously don't care about individual shareholders.
I wonder how many JLP shareholders are aware of the Royalty Agreement?
Maybe if BMR/Kendrick and JLP shareholders asked to see the Royalty Agreement, assuming it exists in a legal form, we would all be a lot wiser.
As JLP results are iminent, perhaps there will be a mention!
Are we surprised?
Lastest accts show Director's interest as Borrelli 2.4m shares and Bird 506K shares.
Question is whether these holdings were "gifted" or "bought with their own money".
If the former then a write off (shares are worthless) will not hurt the holders financially.
If however they were bought with real money, as we all did, then the possibility of a real financial loss (shares are worthless) then that might just concentrate some minds!
Would JLP be content to "write off" their 97.3m share holding.
Bird is boss of both of course, which shareholders are his "priority" and possible conflict of interest.
Although I'm not sure I would trust the "management" to designate their holdings as "different" from "ordinary shareholders".
Let's face it trust in the management went flying out of the window long ago.
My views. E&OE.
FireballXL5, I think the key is the last sentence, "As a consequence...........we are awaiting the formal certificate from Jubilee."
My best guess is that we are still "awaiting".
Prove me wrong, anyone, someone, please.
Thank you MS67 for that input.
BMR, on the Watch, had the the hope that BMR Group Ltd may be used for the Royalty but that now seems unlikely especially as BMR Group Ltd is classified as dormant!
Just have to wait and see.
E&OE
Eric, agreed!
This is the Companies House link to BMR Group Limited -
https://find-and-update.company-information.service.gov.uk/company/13114634
Picked up my error in previous post, BMR Group is Limited not plc, although I'm not sure how significant that is.
"Request" (page 1 of the application) for change of name, BMR - Kendrick signed by company secretary, although signature illegible, "request" (page 1 of the application) for change Kendrick - BMR signed by D & A Nominees Limited.
E&OE
27th February 2021, BMR Group plc changed it's name to Kendrick Resources plc. Company number 02401127. Incorporated 5th July 1989.
27th February 2021, Kendrick Resources plc changed it's name to BMR Group plc. Company number 13114634. Incorporated 5th January 2021.
All above information available on Companies House web site, public domain.
Help, does anyone know what is going on please?
E&OE
There were two meetings, an AGM and a GM, on the same day. The name change was a resolution re the GM, the results, 28/08/2019, indicate the AGM all res passed, second para (below) suggests GM did not take place.
"At the General Meeting held at 1:30pm on Friday 23 August 2019, following the discussion of a
proposal reached between the Company and Jubilee Metals Group Plc relating to the distribution
of the net returns from the Kabwe project, the meeting was adjourned with further notice of the
adjourned meeting to be given to shareholders as soon as practicable."
Any clearer?
E&OE
Benhowell459 you say ...."of his other 3 companies."
The last list I saw, which is dated April 2018 so may be well out of date, shows 22 companies.
As I say, 2018, but I would quite like an upto date list.
E&OE
It's raining so no outdoor play!
Looking through the Kendrick/BMR web site came across a circular dated 31st July 2019 which amongst other things changed the name "BMR Group plc" to "Callisto Resources plc". Assuming this happened, no reason not to, Callisto Resources plc was dissolved tomorrow! See companies house records. With the resurrection of BMR Group plc, which CB apparently knows nothing about, is it worth a little more exploration? Borelli and Ronaldson were involved with Callisto, Ronaldson resigned, but is now the only person related to BMR Group plc! CB was a director of BMR Group plc but I don't know if that continued to Callisto Resources plc.
If a Royalty Agreement exists, is it with BMR Group plc (old), Callisto Resources plc or BMR Group plc(new) or BMR/Kendrick?
Just wondering
E&OE