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Who has the BOD been doing this on behalf of though Andy? That's the question.
I second that, thanks again guys, and good luck for the meeting with the administrators !,
Action group specially andythemkdon redbike and Katie,glad your fighting our corner for us all. Here's.to getting what's rightfully ours .................... Minas Moatize Limitada, the operator of the Minas Moatize mine, formally known as beacon hill resources Bhr Untill those robbing b#stards the BOD tried to tuck us up with all the bull sh#t.with loads of assets still to be discovered by the administrators.bet they didn't realise how many skeletons they would find also!!! Let's hope we never see any of these BOD on any other aim listed companies again. They should be serving jail sentences, let's see how these legal petitions go against them. Lastly thanks to the action group for giving us a voice to stand against these BOD w#nkers!! Regards
Andy `thanks for your update keep up your great work please, you will win i will back you duxi
That how i see it AndytheMKDon. Years in the planning and they had us boxed in so it became a win, win for them and lose, lose for us! Get PI's to fund the business then run it into the ground. Let’s hope this gets looked into in the right way and as much media attention as possible!
Hi all. We now have a meeting arranged with the administrators. Whilst we might not be publishing our intensions here, believe us when we say we are trying to cover all bases to recover something from what is now becoming a clear intension of management to sink the ship, or mug us off on the cheap. It's very evident this isn't about the meeting in December and the vote, or the meeting in September when their plan has hatched, this is about a two year mission for management to relieve private investors of their investment and the company of its assets.
That’s right PI's don’t be so quick to wright this off that’s what the BOD want and expect us to do. They will have the odd posters come on here and put the action group down. But who else give us a voice and spoke up for us. Who else asked the BOD at the GM the questions we wanted to be asked, that’s right Andy,Red,Katie and the action group! We need to be here for the long hall and stick together. We are not just going too been laughed at and expected to roll over in 48hrs and give up!! I have a lot of money invested here and if the BOD think I’m just going to give my hard earned money too them so easily and just walk away without a fight they have another thing coming!! Hope all is going well behind the scenes with the action group members hard at work helping us PI's and thank you!
Has the income from the sub-lease of Locomotives and Rolling stock (~$21m train set as CEO Karstel put it!) been used as stated in RNS of 9th October 2014?
Any contact from the II's ? I assume they have just written this off...?
Yes this is still all to play for.don't give in we need to hold tight and fight till the end.
We have not lost yet this has a long way to run I have great faith in Andy and co GLA
I was at 7k and the last month I bought more to bring the average down , what a balls up. Like you I had so much expectations in this company. Lesson learnt. As well but there are lots of coal minors and oil companies doing to go to floor soon. This year is not going to be that great. Plus another world recession on its way. Does not look good. Oh well least I can still buy a pint at weekends I'm ok. I spose
to go to admin
http://announce.ft.com/Detail/?DocKey=1323-12212156-3P2U2FG9IMLAH75NI27GH40091 i cant see this on on http://www.londonstockexchange.com ... any ideas why?
Well that's my £7.5k gone, cheated by the utter scum that make up the BOD. To think I was very optimistic about this company when they got the rail allocation and had a new wash plant under construction. I should have smelled a rat when the trains didn't show up and suddenly production was put back 18 months. I wish I'd have took the 60% hit and got out then. This company was only ever good for short term trading, not investing. All I can say is lesson learnt.
Beacon Hill placed into administration Following the rejection of a restructuring and funding plan by shareholders last month, Beacon Hill Resources has been placed into administration. The company, which owns the Minas Moatize mine in Mozambique, had previously warned that it only had enough operating cash to survive until mid-January. Minas Moatize Limitada, the operator of the Minas Moatize mine, has not at this stage been placed into administration. The board of directors and senior management will now work with the administrators and Vitol Coal, the company’s senior secured debt provider, to maintain the mine as a going concern with a view to its sale. The company’s shares will remain suspended from trading on AIM until further notice. The company also warned that ordinary shareholders face the complete loss of their investment due to its “significant liabilities and prevailing adverse global coal market conditions”. "Since 17 December 2014, the board has endeavoured to identify and progress potential alternative funding and restructuring solutions with its senior debt provider and other key stakeholders to take the business forward,” said Justin Farr-Jones, Chairman of Beacon Hill, in a statement. “However, it has unfortunately not proved feasible to secure any viable alternative sources of funding in the time available.” "Minas Moatize remains an excellent project with significant milestones achieved since the company assumed management control of the mine in May 2010,” Farr-Jones continued. “We sincerely hope that a suitable acquirer will be found to enable this attractive asset to recommence economic mining operations over the longer term." Written by Jonathan Rowland. Published on 13/01/2015
Me excited, I am a third generation 3 toed sloth
Don't get excited I just plucked one out of the air Lloyds just sprung to mind however Andy and has found one that is very rarely used bhgg but he thinks this one wont close BHR that is.. Keep licking your wounds GL
Just a suggestion but go on the website and look at this chambers, and also read the section about direct access which confirms what I have said. I don't know this sets credentials for company/commercial/fraud work, but I have used them for family work when I was practising, so just a suggestion, but there are plenty more within the Temple, so my advice would be for the action group leaders to ring round, and see if someone will offer them a conference with counsel on a pro bono basis, as I said before. No harm in trying is there?!
Why DuxI? We all go home licker our wounds and search for the neXT golden goose. We have BHR site and Lloyds holder's would not be greatly enamoured with us invading their space
No wonder you've lost money! Honestly!
And haso rhymes with?
I would just like to sound a note of caution regarding legal action and the firm you have mentioned. as I, for one, if I joined the action group for a class action, would not be in favour of the law firm you mention. I would also sound a note of caution about legal fees. If the case is lost, there will almost certainly be fees of some kind or other, including disbursements to pay to the groups lawyers, and those disbursements include barristers fees, court fees, experts fees which would probably involve a couple of forensic accountants etc, never mind the legal costs of BHR through its administrators which could be a multiple of thousands and thousands, so who is going to withstand all of that? If the case is won, then all well and good, but it is a high risk gamble here in my opinion, and as I said, I felt the legal action should have been taken prior to the company going in to admin and not after, but I was just criticised. I honestly think at present, IMO, you would be throwing your money away, on top of what you have all individually lost, as BHR had ample time to move their asset base around prior to admin, and as I also said, you have to stay one step ahead of your enemy in law, and my gut feeling is that this just hasn't happened here. However, if there are a number who want an indication as to whether it is worth pursuing or not, I would strongly suggest IMO of course, that the action group seek a barrister's opinion first on the merits or otherwise of the case, and not just start legal action for the sake of revenge and then give matters further consideration after that. In order to seek the barrister's opinion, you don't have to go through a solicitor or a law firm, you can approach barrister's chambers directly, and there are plenty of good ones in London. To instruct the solicitor to do it, you will be paying twice over i.e. the solicitors fees for gathering the information from you, digesting it and making sense of it all, and sending it all in instructions to counsel and then the barrister's fees for advising and then for the solicitor digesting that advice and reporting back to you. Cut the lawyer out at this stage IMO as there are enough of you in the action group to know the full history, and ring a number of barristers chambers and see who would be interesting in advising in a conference with the action group leaders, and whether they would do it on a pro bono basis (without a fee at this stage)? I would also suggest, IMO, that people stop posting on here and on the action group website what the groups intentions are, as you are feeding fodder to the company, so another method of communication which is secure, would be ideal.
typo( but)