Member Info for BlindMansBluff

I have emailed the liquidators for an update as to the proceedings so far. I have cut and paste their response. If anyone is unsure themselves then please contact the liquidators yourself for your own satisfaction. This is just my updating on the information I have. Liquidators response as follows;

"Thank you for your email
The Joint Liquidators are aware of the position regarding the Yomboyéli mine, which is an asset of Forecariah Guinea Mining SA (“FGMSA”), a joint venture interest, rather than the Kalia mine which is an asset of a wholly owned Guinean subsidiary. We are not in a position to comment on a return of funds to the Company from FGMSA as we do not control this entity and a separate, Guinea-based liquidator is in office.
Regarding the assets of Company, the Joint Liquidators are currently focussing their efforts on realising the Kalia project. Regarding any return to shareholders however, the position currently remains unchanged from the update provided to shareholders on 8 March (attached for ease of reference).
Once a more substantial update is available the Joint Liquidators will write to all shareholders and creditors to provide this.
If you have any further queries please let us know."

I emailed info@gt-ci.com today and also got the same as riproar and Cobra11

Not a lot of info given just a standard response

AAAARRRRGGGGGG there goes the last hair on my head! I just want my money back!!!

The dodgy Chinese now own the lot!!!
Still no more information coming forward

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 .

https://www.jerseylaw.je/laws/revised/Pages/13.450.aspx

For a company to go into liquidation then 75% of shareholders have to vote for it. However creditors can force the company into liquidation if it can provide evidence that the company can not pay it's debts of £750 or more. So as no vote has been taken I can only assume that Hudson has forced us into liquidation. Therefore sale of assets will happen.

The liquidator will take control of the company’s affairs and the directors no longer have control of the company or anything it owns. Directors can’t act for or on behalf of the company.

So in other words we sell out pay off Hudson and hopefully the shareholders get the leftover scraps.

shareholders retain the right to apply to the Court should he feel that the liquidator in question is not serving the interests of the company. Any shareholders making such an application must hold at least 10% of the total voting rights of all the shareholders having the right to vote at general meetings. If the Court rules in the shareholder’s favour, it may decide that the amount of remuneration should be reduced, or potentially that some expenses be disallowed

I own 0.3% so need a few more people if we need to take action

That's very true Eagle. The positives I take away from today are that BZM are now in talks with Hudson and also my stake has not been diluted by 50%

Hudson and BZM both agree this is in the interest of the shareholders. So hold out and let's see what's so important to our interests!

Funding; rental of assets this year = $200k expecting $600 k next year. Once port rental contract signed if $1 per ton agreement then looking at $4 million per year with a possibility of expansion to $10 million in future.

We need Hudson to release funding for the FS which will cost in the region of $700k to complete.

So no BZM is not in the sh** we just need an injection of cash to move the FS along and get it done within a quick time frame.

Don't forget to sign up to the conference call this Friday. I just have, hopefully get some answers

North, we all understand this already. Most have been on Sonagols website. No new information here. It's 88

This is interesting … found this today. Looks like Hudson are playing the same game as they did back in 2014. They said that due to the lack funding shares got frozen at 0.53 and then a few months later its jumped up to 2.5 on replacing. So, this scenario could end up in our favour.

http://www.lse.co.uk/ShareNews.asp?shareprice=BZM&code=2nm8d9ot&headline=Bellzones_shares_suspended_as_miner_fails_to_agree_vital_loan

I agree with you, it all hinges on Hudson as we are aware. Makes no business sense to collapse Bellzone. Hudson are just trying to protect their interest and guard against losing out on the controlling vote. This company is not far from turning a profit. So after all this time and money invested why would Hudson go against the grain and basically hit the reset button. Would put another +6 years on them getting anything from their investment.
The SP is just going to bob along now until the meeting and then its going to be one mental day of trading!

Hudson has responded now hence the date has been set. However you are right though we may not need to wait for this date to get the funding. Either way it's a week long holiday for them so lots more speculation for us

GLA

Would have been nice to get to 0.4 but 0.3 is still loads better. 20 days to go until the big day

From what I've seen so far, all the big buyers have been in it on Monday and Tuesday while it was all being manipulated

To be honest most shares on AIM are risky. But at these prices there is a lot of money to be made here. EGM is on 22nd October at 09:30 and from now until then this market has lots of money to make. AIM is a gamble. IMO us long term holders are here until at least November 2019 when we should become an active mine. As for short term holders, how can you not miss this golden opportunity to make lots of money?

concrete agreement ... not concert agreement ... b**ody predictive text hahaha

That RNS was because Hudson was not getting into contact with BZM for further funding. BZM issued that RNS as a wake-up call to Hudson to bring them to the table to discuss either release of already agreed funding and/or the increase of shares so that a joint venture can become possible. On top of that they also have a concert agreement with the monetising of the Konta port but this is only depending upon Hudson releasing the funds

http://www.bellzone.com/images/downloads/bellzone-investor-presentation-march2018.pdf