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Unreal Red, unreal. Maybe risk management to the BOD means the risk of shareholders finding out that the BOD members are incompetent.
UCL, not much sincerity in any of those RNS's, look at the arrogance shown to shareholders, did you expect any? Plenty of pleased to announce like the suspect looking 56k buy RNS and the rail we were told so much about in a killer "Beacon Hill snares rail allocation" RNS Having plumbed in $80M of shareholders cash with the inclusion of risk management to administration really should give up the day job, not one word of remorse to shareholders has been shown after $80 Million has been blown, lets hope the industry and regulators also see it this way. This little gem can be found on the BHR website http://www.bhrplc.com/riskmanagement.aspx Beacon Hill Resources is committed to effective risk management to achieve our business objectives. We aim to continually improve our management of risk, to make better decisions to achieve our objectives and to reduce the likelihood and consequences of adverse effects to tolerable levels. Some risk management in place you have there boys, one question would be with that much care and attention to detail, how on earth could anyone mess up that badly, "tolerable levels" let the company get to the point it did. Gross negligence could be one serious way of looking at it. ;-) Are we not due a "MML snares BHR's rail allocation" RNS ?
I agree. It was more of an abrupt "Sod off, because you wouldn't let us ride roughshod over you" kind of spiteful comment. The BOD seems to forget that it is employed in order to represent ALL shareholders, not just its chosen few. Regards.
I am strongly of the opinion that paragraph was included as a big 'F you' to shareholders. Not for any other reason. Why would you, if the company you manage had just been put into administration, purposefully try pee off shareholders even more by stating they are likely to get nothing? You would, at best, phrase it better: 'It is with utmost regret that the Board anticipates shareholders will not receive anything...'
Amazing that last RNS really. We were informed that we probably won't get anything, yet MML is not in Administration, so we do still actually have all the assets to sell. Everything we had before. Lol.
46andup glad your feeling better we all feel a bit down at times with this share but keep faith my friend Duxi
yes but if there was any wrong doing as far as the discounted shares and late buying (56k) it could get more interesting,early days we might have been dragged through the mud but it could be the BOD that come out DIRTY.
Haha! Goodness me, sorry I forgot the 0 haha. I guess what I'm trying to say it it would still represent a better position than the one we are currently in now..
£2M divided across 4.8 Billion shares...that's about 0.04p per share me thinks. Need a new abacus!
Hi 46 i'm ok This is far from over we have a very good action group behind us They can't post on here you know why just hope you have given them your private email address.. Duxi
Unlike* not unless
If after we've paid the $10 million outstanding debt to Vitol, if other assets etc are sold for, say, £2 million.... divide that by the number of shares in issue and thats around the 0.4p per share...at least people would be able to claw back something. I don't know, however, how many other creditors are in line before us, however this just goes to show that a relatively small amount of cash (for these big companies!) can still be realised as shareholders at least getting something back - unless the RNS which states we would get nothing!
not date at the moment but i guess it will not be a long wait.
Hi duxi/46andup that's right we must keep up the fight and stick together! I think most of us are waiting to see what comes of the meeting with the administrators. Has there been a date set yet?
Hi duxi how are you,yes its quite on here .i know there's lots going on and hope all investors of BHR are still following this till the end and not going to give in,i for one think this still is far from over and just hope we all stick together to fight for what is rightfully ours .
Think we need to use LSE they may close if no activity? just a thought
Just found this from another poster on the PFP board toda, Is it conceivable this would also possibly help here, as someone else on the PFP infers that this person has good links with the UK etc? Just a thought as I don't know enough about Bhr and in the ins and outs of it all as I have said before. "http://www.thezimbabwean.co/politics/74563/nyusi-appoints-his-government.html "The Ministries of Mineral Resources and Energy are merged, and the new ministry is headed by the former deputy finance minister, Pedro Couto, a man with a reputation for integrity and independent thinking."
Ok Red. I'll keep plodding on. Just no funds left, otherwise I'd use them to try and help get some answers for shareholders and take the BOD to task over its behaviour. Just frustrated. Thanks for your support, much appreciated.
can anyone explain in layman's terms what this paragraph says? Vitol's senior debt facility is secured over the Minas Moatize Mine which is held by the Company's principal wholly owned operating subsidiary in Mozambique, Minas Moatize Limitada ("MML"). At this stage, MML has not been placed into administration as the Board and senior management will now seek to work with the Administrators and Vitol to maintain the Minas Moatize Mine as a going concern and identify potential acquirers. There can be no guarantee that MML and/or the Minas Moatize Mine can be sold as a going concern or at all.
http://www.clubofmozambique.com/solutions1/sectionnews.php?secao=business&id=2147486506&tipo=one The strikers complain that when they attempt to negotiate wage grievances with the management, they are told that they should be thankful with what they are offered. Do we run this mine as well as the employee soundings sound so so familiar?
Can I make a further suggestion which has just come to mind, and it is just a suggestion, and I know you don't like me, but I am thinking, as and when you have your meeting with the administrators, perhaps take along a tape recorder for two reasons, one so that obviously you have a correct record of what is said so as to avoid doubt, as it easy to forget things in a meeting like that, and particularly if a lot of figures and facts are banded about, and secondly, so that you can report back as accurately as possible to shareholders. Just a thought, but in this particular case, I just feel it would be both practical and beneficial, and particularly if any form of litigation might then subsequently be embarked upon.
The administrators have got all the information , if the assets are not worth what has been documented then this will be found out. In regards to the BOD , am sure they will read this message and am looking fwd to seeing you get what you truly deserve in terms of rewards :). Well done with the mine and low sp and if we an become debt free its a whole new ball game and a change in management.
Eric, No one knows what will happen, until we do just hang in there. You may have invested 17K at 17p, some people have invested even higher than that and are still trying to scrap this out, keep popping in and you have my mail if you need any updates. I can see where your coming from at 17p of course I can but the lets see whats what as you never know. We don't yet so until we do know just keep slugging it out until we do know rather than lob the towel in and Karstel announced as a winner, you still have votes too!
Feel there is a lot going on behind the scenes have faith in Andy&co feel the same as you we own a coal mine can we have it back up and running if possible With a new BOD Well done action group Duxi
No one knows what will happen, lets get the ball rolling with administration. Remember Rome wasn't built in a day, no one will have conclusive answers by next week. Don't give up either as no one knows what can be done, how, who, or figures. What we do know is that people are prepared to give it a go. People that have put a lot of time and effort and some of their own money in already to get to where it is. That's what should be remembered, don't bicker and don't give up as no one knows what the options are at a guess perhaps apart from BHR who may have a game plan for some time. This isn't an easy task for anyone, just hang in there. Plenty of derampers,board moles, people threatening legal action against people trying to push it forward, it isn't easy is what I can say but were still trying and be patient with updates etc.