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Liquidator will need to be very careful with Stella Vista. Controlled by Millennium Panorama group (claims it has the old Tonkalili North iron Ore mine in Sierra Leone). Schrimshaw and MPGL in a fight with investors owed $5m or so. MPGL probably got no cash and Stella Vista either. Stella Vista must make $3m+ of payments to liquidator ASAP.
[LINK REMOVED]
Will we get anything back ?
what about a certificate to claim tax relief ?
Https://www.globalminingreview.com/finance-business/17072023/stella-vista-acquires-world-class-kalia-iron-ore-project-in-guinea/
Does this mean Bellzone has sold its Crown Jewel??
Hi, all what the next or is the bad end of story?
Dear xxxx
Thank you for your email.
I confirm that the Company is still in liquidation and the Joint Liquidators do not anticipate a return (distribution payments) to the Company’s shareholders.
Please let me know if you have any other queries.
Many thanks.
Regards,
Catalina Fotache
I emailed the liquidators
https://www.mining-technology.com/news/terracom-kalia-iron-ore-guinea/
I heard the proposal from Terracom to purchase Mines owned by Bellzone. Anyone know update regard.
Lost party.
Doubt it, there will probably be just enough money to cover the fees for the liquidators Grant Thornton Jersey, I think this company are milking this with the ex bellzone mining directors, funny how there offices are about 200 meter's away in the same town, they will take all the sale profit and shareholders will get nothing -
I emailed grant thornton earlier this year and got this reply -
Thank you for your email and please accept my apologies for late response.
I can confirm the liquidation of the Company has not yet concluded and continues.
Unfortunately the position remains unchanged and there are no return anticipated to shareholders.
The Joint Liquidators of the Company continue to effort a sale of the Kalia mine in Guinea and, if achieved, will then be in a position to provide a full update to shareholders and creditors as a body on the activity undertaken.
If you have any further queries please let us know.
Kind Regards
Catalina Fotache
For Alan Roberts and Ben Rhodes
Joint Liquidators
The Company is in liquidation. Its affairs, business and property are being managed by the Joint Liquidators who act as agents of the Company and without personal liability
They are being led around by the nose by the receivers appointed local manager who was a political appointment by Bellzone a number of years ago. This person looking after the suffering shareholders interests in Guinea was in the past a fuel pump operator and worked for an NGO.
The company in question, Terracom, are small time coal producers in South Africa and Australia and just had a financial reset, suggest you check their website in Australia. They have no expertise in Iron ore. They did manage to score a Bauxite lease in Guinea as well as I understand it.
They do not have the financial means to develop Kalia and will need a partner with deep pockets.
I have written to Terracom offering advise and information but there has been no response.
Any body have any idea if this will help out existing share holders <
https://themarketherald.com.au/terracom-asxter-subsidiary-signs-mou-for-kalia-2021-08-13/
Yes,
I would love to know what happened as I took a 23K hit. On my 50th Birthday too.. Happy Birthday....NOT.
I am in the same position with a £30,000 loss !
would be nice to have an update as especially as the company management where so upbeat at the last knocking's. All lies i guess to boost the share price before collapse
How come this has never been investigated i personally lost 30k
THere are no mines in kalia, there was only a mining permit which was lost following the insolvency of Bellzone Mining. The liquidator is a joker, he does not want to tell you the truth.
Even the amendment to the contract deppoceded you to the profit of OTN Mining, a shadow company.
I received the email message below from Grant Thornton the liquidators of Bellzone Mining on the 16/04/2021 -
Thank you for your email and please accept my apologies for late response.
I can confirm the liquidation of the Company has not yet concluded and continues.
Unfortunately the position remains unchanged and there are no return anticipated to shareholders.
The Joint Liquidators of the Company continue to effort a sale of the Kalia mine in Guinea and, if achieved, will then be in a position to provide a full update to shareholders and creditors as a body on the activity undertaken.
If you have any further queries please let us know.
must be worth something with Iron Ore prices elevated
My Bellzone Mining shares of no value are still showing in an old ISA account, interactive investor are refusing to close my account until I gift the shares and are charging a monthly fee, is it still worth holding onto these.
Did anyone hear back from them
It looks like Bellzone (Kalia) was taken over by some US company - consortium.
Some Indian company took over - or tried to take over (with much fanfare) the Forecariah operations but then it all died down and to my knowledge nothing is happening.
I was around £2k up when the price was 2p plus! sold at a big loss!
I remember the quote "boots on the ground" from our ramper friend.
Have some other mining companies. AIM is always a fickle dog
you'd have thought so, but 6 months later the administrators are still milking their fee
My Bellzone Mining shares are still showing in my ISA account, they are of no value but are still listed , is there still some thing unfinished with the closure of this company
You can full some people sometimes but you can't full all people all time.