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Mapp- it works both ways. If you do really well then the gains are tax free.
I don’t think we will ever find out what has happened here. The risk was less about the mining side.
The risk was if Hudson decided to pull the plug and they have just when things started to turn around.
Hudson have lost the value of their aim shares which were worth £30 million just 18 months ago.
They have also lost the ability to get back the loan amounts owed to them which is circa $20 million.
And don’t forget even when the SP was over 3p they did not sell a share. They were happy with a placing so long as their holding stayed above 50%. The only explanation that a third party have offered Hudson a lot of money to take the assets. However without the licenses they are worthless. That’s why I think Hudson have sold the licenses back to guinea
should not be exposed to HIGH RISK AIM STOCK.
Private Investors without a trading license should not
be allowed to take part . AIM turns a blind eye and I suggest
legal action is needed to clean up AIM.
Has anyone called the liquidators? Do you know what happened with the licence? Are the liquidators planning to sell the Port at all? Can we still expect that another (probably) Chinese (Bauxit???) company will take over BZM assets? Thanks for all the info
Mapp- I see you are asking me questions on another BB.
First- I did not recommend you or anyone else to buy shares in this company. I posted my opinion. I stated many times this is likely a 5 bag or bust.
There was a 2 month window from the first announcement on Hudson’s refusal to advance more funding to delisting.
My view still stands that the assets here are very valuable . This didn’t happen because the assets are worthless.
Possibly the assets now will be returned to guinea . Don’t know
Atb
Hudson knew all along that they werent going to extend the loan the BZM, even when the director Julian Cheong gave a positive interview early last year, they should be investigated, corruption at its worst.
was the last price. At that price investors should get
their money back. Has BZM exploded and is worthless?
That is impossible and cannot be acceptable.
There is still value in BZM. UK is not a Communist
Country . JUSTICE does not exist in Africa where the rich
confiscate whatever they can get hold of. Unacceptable. Crooked.
Does this qualify? . I think it relates to investments that become worthless can be set aside capital gains. My problem is my investment in BMN was in an ISA, so I would imagine this definitely wouldn’t qualify???????
would not allow his company to be snatched away
by the Chinese. TRUMP has the courage to block their greed in
USA. Most Chinese goods are not worth buying.
Shoddy. So is their attitude to business. Unacceptable
and irresponsible.
for how much and who has accepted the money.
Can the Chinese just walk in and grab anything worth something.
I do not like the Chinese taking over the world. They buy land
and property with their loot. They are best placed in their polluted
Cities, Hong Kong, Singapore, etc. but not in Europe. They should
not get BZM for nothing. It breeds resentment . Unacceptable.
There we go, hard lesson learnt and the last time I will ever be investing in AIM shares.
and there it is...cancelled.
Why are these chumps still updating the website?
Horndrum ----- Yes looks like thats the way it is
Any idea why no RNS on this as yet?
Crooks know how to deceive.
AIM is for Crooks who get away
with murder. A heart attack comes at any
age. AIM is a Killer and BZM not a thriller
for the game played is toooooooooo
obvious.
Bellzone are still updating their website and have added this article
http://www.bellzone.com/images/downloads/guide-investir-guin%C3%A9e-2019-eng.pdf
What a joke! If anyone can remember last year’s article from the government's guide to investing in Guinea then compare the maps on pages 40 and 41 and notice that even the government are now denying that our iron ore mine Kalia licence area (Bellzone) dose not even exists in the country any more. Also, our port Konta has been removed as well.
If you read the article then I bet most would agree with me and laugh in disgust at the statements referring to China and Guinea “Guinea, over a period of almost twenty years. Each year, we will meet around a table to negotiate projects worth $1 to $2 billion. This will be based on two aspects: we will provide China with mining concessions on the one hand and China will offer us financial resources on the other”
This reference to China and mining goes on throughout the hole article. Made my blood boil after reading this article.
So in other words Guinea is turning a blind eye to Bellzone as its now been signed off to China .
http://www.amegroup.com/Website/FeatureArticleDetail.aspx?faId=415
Ive lost money here, even though Im not a big fan of trump, id like the USA and other countries to not buy any crap from China, starve them out of the market, then well be on a more than equal playing field.
Before the last dilution, they held over 60% at one point...
Indeed Eagleray, how did they get to 51%?
Getting involved with chinese in business is a very bad idea. Especially in matters of natural resources. They want to take territory without firing a shot and are very smart in playing the long game. No chinese businessman will ever truly work with any other nationality as they are all on a mission to make china dominate the globe. If this sound racist then so be it, its how things are, there are no mates or alliances in chinese business.
Just curious...
Why when you own over 51% of the company (or just before this happened) are you not obliged to make an offer for the whole company?
If you are an absolute majority then you in effect own the whole company, as mentioned below, you can veto/control everything the company does!!!
So the 51% ownership is important in the sense they have control of the company and can veto just about anything they want? 30% should be safer right?
And I take it since they owned 51% of the company they could secure the loan on 21% of the assets?
Is any of this possible without owning the majority of the company?
Thanks for your responses, much appreciated!
I'd have to agree, very wary of any Chinese involvement now - I should have learned from Fortune Oil before I threw money away here. (Different circumstances there but another rip off!)
Cynical but after my loss on BZM ( learning curve) if a chinese company comes in with a loan secured on 21% of the assets its red alert time . They will all be in in it together ..
I would look into the backgrounds of the board of directors, I wouldnt have touched bellzone with a bargepole if I had done more research, two of there directors worked for China Sonogol who owned Hudson Group which owned 51% of the shares in Bellzone and one of these directors did a very positive Televised interview this year about Bellzone Mining, funnily enough resigning just before Hudson pulled the plug on a loan agreement to keep Bellzone operational -
Julian Hong Lum Cheong -
Financial Advisor for Bellzone from October 2015 to July 2018
Chief Executive Officer of Bellzone Mining PLC since July 1, 2016
Previous Appointment before Bellzone -
He served as an Adviser to China Sonangol International (S) Pte Limited from April 2015 to August 2015 and its Management Member since September 2015 until October 2015.
------
Kum Hon Tung -
Financial Advisor for Bellzone until October 2015
Mr. Tung served as Acting Chief Financial Officer of Bellzone Mining PLC since November 2014 and Chief Financial Officer until October 31, 2015
Previous appointment before Bellzone -
Group Chief Operating Officer of China Sonangol International Holding Limited