Member Info for BlindMansBluff

Hahaha I'm with you mapp ... in it until the end. Into deep to pull out now, only to see this rise back up again within the next few days

MMs cannot shake us out and get their hands on our shares

I have been looking at the trades today and there seems to have been more buyers than sellers. Most have held which is good for us and probably upsetting the MMs. This price is not justified. BZM need to sort out there dispute with Hudson so that we can get back on track!

All depends on your stake, how much you will loose and if you're willing to see this curve ball out. It's a big stakes poker game for me tomorrow also.

I believe in the assets that Bellzone have. I've done my research into Bellzone and the local government. I have a very good feeling and belief that this will be massive.

My only Achilles heel is Hudson. I can't predict their next move and this makes me nervous.

All anyone can say is how good this could be, we all know the assets are there for the taking, it's just a question of who will do the taking.

I hope all people involved have averaged down to a good value and each have done their own risk assessment.

As it stands I own 0.37% of this company and so I will try my luck tomorrow. No one can tell you what to do.

My position is to hold. As I see this RNS as more posturing than doom and gloom. The threat is real, however there has been too much investment and time spent on both Bellzone and Hudson sides to let this slip into the gutter. I can't see the Guinea government letting this go the same way as Simandou. GLA DYOR

Has anyone actually found any information on Hudson? Just a thought... perhaps this is not a power play. Perhaps Hudson doesn't have the funds promised? More digging required

And don't forget that the government wants the responsibility of roads/rail infrastructure to be met by the companies concerned, this alone is a massive financial obligation

I'm balls deep in this one lol. So tomorrow is going to be a stressful day

I was hoping for Bellzone to rent out the port rather than sell it, as this is in our long-term interest. Perhaps this might be the real reason for the fall out at the top. Both players wanting to go in different directions.

saw it once before but struggling to find it now on the internet

Bellzone has the right to mine. Hudson controls Bellzone. But if Hudson makes Bellzone insolvent then the Mining Convention Ratified by Guinean Parliament would become null and void. Hudson would lose all. The owner of the land would be the one left standing!

If these options do not materialise, the Company will continue to be reliant on funding from its majority shareholder, Hudson, primarily via additional draw-downs on the second Hudson loan facility of US$4.0 million announced in December 2016, of which US$3.2 million currently remains undrawn. It is expected that a partial draw-down of this loan facility may be required for the Company to meet its obligations, including any additional feasibility study costs, for a period of 12 months from the date of this report.

Bellzone and Hudson agreed on 23 March 2018 to extend the draw-down availability period of the second Hudson loan from 31 December 2018 to 31 December 2019. Additionally, China Sonangol, which has also provided funding to the Group, and Hudson have also agreed to further extend the repayment date of all three loan agreements for principal and accrued interest from 31 December 2018 to 31 December 2019.

And on that note I think it's time for a stiff Gin n Tonic while we wait this one out. We need "Balls of Steel"

Whilst the Group’s cashflow forecasts indicate that additional funds are required in December 2018, there is sufficient
remaining undrawn facility within the second Hudson Global Group Limited (“Hudson”) loan available should alternative
forms of finance not be forthcoming to the Group. While the Company intends to fully explore all available financing options
to meet its obligations as and when they fall due for a period of 12 months from the date of this report, the realisation of
these options will be dependent on favourable macroeconomic and market conditions as well as continued progress on the
ferronickel feasibility study

Annual report 2017
"As a large proportion of useful in-country assets have been fully depreciated and under care and maintenance for several years, we intend to undertake a comprehensive asset management programme to monetise where possible non-critical assets through either sale or rental to take advantage of the upturn in local mining activity. This should enable the Company to generate additional cash and reduce our external financing needs. In turn this will allow management to better explore a full range of financing options to find accretive solutions for both our near-term working capital needs and our medium-term debt-servicing requirements."
As this quote from the report states the have the means for cash. So there has to be an issue with how Bellzone and Hudson are getting along!

They raised 1 million on 12th July, I am unsure how we have burnt through that in 77 days!

They raised 1 million on 12th July, I am unsure how we have burnt through that in 77 days!

Looks like Bellzone and Hudson are at each other’s throats for overall control of the company. I just hope we don’t get burnt in the cross fire!!!
My thought process is on similar terms to you BigBear.
There is deferent different opinions between Hudson and Bellzone. This makes no sense to fold a company after all this investment and being so close to production. We have the golden signature from the government over the mining convention that’s been in the pipework for 4 years or so. Why would you fold now unless it’s a total power play between the big boys!!!

But we all love North for his outrageous statements that make every chuckle

North why would any company want the logistical nightmare of having to do cross border checks FACT ;) It would be easier to just tootle down a mud track than deal with cross border politics in a known conflict zone.

I was reading that and wondering if our Konta port would be a prim area for expansion and support for the main port at Conkary. When a company has a $120 million port in its pocket and the stock market values the company at sub £9 million without even taking into account the huge iron mine asset. The hole value of the company ludicrous! When will people realise the true value of this company? But in the mean time I'm happy buying up all the shares that I can afford ;) GLA DYOR