Member Info for AndytheMKDon

So today Karstel delivered for the first time in an RNS for two years, he said he would put the company in receivership and he did, what a claim to fame.. Sad on you. Your eulogy will say, the only thing you delivered in two years was to put a company in administration, it should look great on your CV. Mind you, your CV has plenty of gaps in it where you were clearly un-employed in the past, so it won't be the first time you have covered up your inadequacies. Now we can deal with the administrators who have to act impartially, they will no doubt unravel the actions of JFJ and RK fairly quickly, especially when we and other people give them the information to expose them for what they are. We note with interest another Nomad resigned today (Strand Hanson) who clearly refused to risk their future by supporting these pair of chancers. The management of this company will be brought to book and they will answer for their actions, the smug approach still being expounded in todays RNS is so contemptible it's beyond belief. You could almost forgive them if they came out and said "sorry chaps, we tried hard but failed", what did they say?? "it's all shareholders fault, you brought this upon yourselves". !!! No apology, no remorse, just another RNS of how they can keep drawing their salaries.. The turkeys will eventually come home to roost, this story is not over yet, the RNS today was suitably ambiguous to make us think all is lost and give up, believe us when we say todays events have made us even more determined to ensure this squalid board of directors will be exposed for what they are and that they will eventually answer for their actions in a court of law where a cheap suit and a $56K hair-do will not cut it...

The administrators will have to talk to us, we need to check the mine ownership but at this moment it looks to me as though all assets are owned by BHR ltd, the company are simply seeking to sell the mine as a going concern the proceeds of which have to come back to creditors and shareholders of BHR. In the companies accounts they list all subsidiary companies under one umbrella, BHR Ltd. All past RNS's are documented hence BHR can't adulterate them to cover tracks. Everything we need to know is out there we just have to find it and piece the puzzle together. The administrators will have to act impartially, so now we can give to them all the recent facts and let them decide if the BOD sought all viable funding options, we know they didn't as they wouldn't talk to shareholders. Jones even took the opportunity to dis shareholders in the RNS, doesn't he think he's heaped enough detritus on us already. ??

It looks clear to me but will need to check deeply, their statement on the website says it all; Beacon Hill, through its subsidiary Minas Moatize Limitada ('MML'), owns and operates the Minas Moatize Coal Mine in the Tete Province of Mozambique. Beacon Hill completed the acquisition of MML in December 2010 after taking management control of the project in May 2010. So Beacon Hill acquired MML in 2010 that means Beacon Hill own the assets of MML, they are not separate. Any monies coming from the sale of MML would have to be distributed between shareholders after the Vitol debt of $10m has been settled. Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining 8 December 2010 Beacon Hill Resources Plc ('Beacon Hill' or 'the Company') Completion of Acquisition of Minas Moatize Coal Mine in Mozambique Beacon Hill Resources Plc, the AIM listed resource company, announces that BHR Mining Limited ('BHR Mining'), the Company's subsidiary, has made the final payment in respect of the acquisition of the Minas Moatize coal mine in Mozambique. As set out in the announcement of 30 November 2010, the Company now owns 100% of BHR Mining which has full control of the producing Minas Moatize mine and remains fully funded ahead of the development of establishing a 4Mtpa run of mine open cast coal mine by Q1 2012. Beacon Hill Chairman Justin Lewis said, "BHR Mining now has full ownership and control of the Minas Moatize mine, which we believe to be a highly valuable asset in a unique geological location. Importantly, the entire prospectivity and potential of the Tete province has been underpinned by the recent bid activity surrounding Riversdale, which owns licences contiguous to our Minas Moatize project.

They put us into administration but not the part of the business which owns the mine, everybody now needs to start digging to see who MML are wholly owned by, if it's BHR Ltd then what they are planning is not legal. Are there no depths these pair won't plumb?? On the website it states; Beacon Hill, through its subsidiary Minas Moatize Limitada ('MML'), owns and operates the Minas Moatize Coal Mine in the Tete Province of Mozambique. Beacon Hill completed the acquisition of MML in December 2010 after taking management control of the project in May 2010. We now need to prove the assets of MML are wholly owned by BHR Ltd, if they are they can not do what they are proposing. 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.

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unionpacific has called this one pretty correctly in the past and all views should be welcome. We can all speculate as to what the future might hold, one thing for sure is this board of directors are a disgrace, refusal to talk with shareholders, refusal to give us the share register (Even though its our legal right to have it) and many other things which they should be doing and aren't. Add to this the bodged consolidation and JFJ's mystery shopper and it's a pretty shabby list of events they have put their name to. We are logging every shortfall of the BOD of directors in order that any future investigation / class action will have everything documented. They can run but they can't hide.

It's a good point you make, we are on the case with legals regarding just the things you mention, asset values and potential false accounting will be looked at amongst other things.. "Hairdressergate" being another one.

Believe me it's not through the lack of trying, but you know something, I've always been a firm believer in what goes around comes around and our day will come. I was quite surprised with Karstel's "I'm angry" comment in the Miningmx interview, maybe the pressure is getting to him. As I've said before, he might be a decent mining engineer but no way is he CEO material.. Mind you, if he was a decent mining engineer why wasn't he building plant over the last two years with our cash, rather than buying trains we can't use...

You are completely right, our problem is they don't want to talk to shareholders, we are pests who spoilt their neat little arrangement to transfer the company to II's for a song, most likely in return for them keeping their jobs.. Their whole premise is "me, me, and a bit more me".. !!

Can't see any news coming from them today..

We might be out of pocket we might not... If we are, then JFJ's and RK's gravy train stops too... You obviously think they were doing a good job then!! ??

Two things, 1) They won't communicate with anybody, which seems odd when they need solutions. 2) They will be making an important announcement during the course of the month... Who's leaking the announcement stuff?? RK in his interview the other day saying he was "giving us a ten day line of sight".. If he's got something to say cooking say it by RNS, I thought he was running the company not playing Chinese whispers!!

That's alright then they gave themselves the "Thumbs Up", just one flaw in the plan though boys, you didn't talk to your shareholders, I hope they didn't open the Champagne.. Poor old JFJ and RK, "extremely disappointed" bless em.. How do they think we feel about their performance..

Johannesburg (miningweekly.com) – Confirmation was awaited late Wednesday afternoon on reported financial problems being faced by the London Aim-listed Beacon Hill Resources, the developer of the Minas Moatize coking coal mine in Mozambique, following the company’s failure to win the requisite shareholder support at last month’s general meeting. Mining Weekly Online had, at the time of going to press, not received replies to both emailed and telephonic enquiries, which sought confirmation of reports that the company would be making an important announcement on its future in the course of this month. In a notice to the London Stock Exchange in December following suspension from trading, Beacon Hill said that its board was extremely disappointed that resolutions had not been supported, despite receiving a thumbs up from independent directors.

... Why Karstel appeared to take delight in his interview for this revelation only served to make him look even more incompetent.. What right minded CEO would sign such a clause!!! Vitol have first draw against the assets anyway given they are the single biggest creditor, why would they need to spend a dollar??

It could be "two shots in a bunker"... Even the Third Reich realised when the game was up.. !!! Jones needs to resign and Karstel needs to confess he is out of his depth.. !!!

Even the industry journals doubt your credentials and motives !!! So it's not just us he's not prepared to talk to, lets hope it results in "two shots in a bunker".. ;+) http://www.miningweekly.com/article/financially-stricken-beacon-hill-top-brass-out-of-reach-2015-01-08

Just had a reply from the editor of Miningmx saying he will publish our right of reply. ;+)

I have written to the editor with my views on Karstel's interview and asked for a right of reply. ;+)

Morning. I have already e-mailed Mr Karstel my response to his interview, I will now send it to the mining magazines and see if they publish a response. ;+)