Member Info for EyeGuy

That could be a possibility. No idea.

That’s right but read this RNS. This took 8 years.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BZM&ArticleCode=uxy2zhyk&ArticleHeadline=Kalia_Mining_Convention_ratified_National_Assembly

Guinea can’t change the law overnight because Hudson want them to.
It would appear more likely that the assets pass to the Guinean government

Garyn - that’s right. Read the extract from the rns below.
I can’t see how Hudson would get the assets and keel within work schedules. They are a subsidiary of a property development company. The ferro nickel project is step 1 to realise kalia value as the material overlies the ore.
It makes no sense. Maybe the government are “in on it” but bankrupting one of guineas longest serving mining companies and handing control to a Singapore based property company may not be a smart move.
Like I said- no idea what is happening but more to it imo

This process is years of legal proceedings. I don’t see how Hudson can come along and so what they want.
The work is already on hold now and from the rns’s then I would believe that guinea then take the assets from Hudson.
Otherwise why have the timelines on the rns?

Addendum Highlights

The Addendum updates the Convention. The Addendum maintains the existing legal, tax and customs stability provisions such that, other than where specifically provided, the Convention as amended by the Addendum remains under the jurisdiction of the 1995 Mining Code but nevertheless incorporates important aspects of the new Mining Code adopted by Guinea in 2011, as amended ("2011 Mining Code"). In addition, the Addendum recognises particular updates to broader laws and regulations to better align Bellzone's operations with Guinea's on-going economic development. In particular, the Addendum recognises the ability to undertake independently-defined sub-projects (such as the ferronickel sub-project) and thereby provides the economic flexibility to generate new revenue streams as they become viable.

Key Bellzone undertakings:

§ Submit the Kalia Mine Economic & Social Impact Assessment ("ESIA") revised for the impact of the proposed ferronickel smelters by the end of October 2018.

§ Conclude the ferronickel feasibility study by the end of November 2018.

Well the mining convention has been ratified - but that has taken from memory 7 years and went to parliament.
And with it timelines to adhere to. The RNS has stated that the ferro nickel work will need to be done by year end.
Administration probably will take months in guinea. I can’t see the Guinean government handing control to Hudson overnight. Yet Hudson immediately lose the $20 million owed and could well lose the licenses too.
This is a gamble of course but not as straightforward as some are suggesting.

Garyn- I saw your tweet about bzm- didn’t read the article.
But what in your opinion do Hudson gain here? You can say that they take the assets. But Hudson are a subsidiary of basically a property investment company in Singapore.
They will be in breach of the mining convention if they don’t stick to timelines for the Ferro nickel project.
Some on here have been banging on for years that these assets are worthless.
So we believe Hudson inherit these worthless assets, lose $20 million and then can’t do anything with them anyway because they probably will be in breach of the timelines.

I personally don’t think the bod know either tbh.

Just to add- I wasn’t suggesting for you to take your chance.
My point was pays yer money and takes yer chance etc blah blah
Gl

Yep- I have no idea personally what will happen. It’s more complicated than some of the share commentary I have read. Take your chance

no idea why anyone wants to sell these. big cashflows arriving any time. 5000% increase in production likely

yep. was never really going to be close as Hudson own most shares. It was done imo to force hudsons hand as to what they wish to do. So they don't want dilution.
So what will happen with the assets? I ask that because some have stated that the assets are worthless or don't actually exist. And the Ferro nickel project looks like that may be null and void as they will likely be in breach of the work schedule. And that is one way of monetising kalia as the material needs shiting. And the mining convention has been some 7 years in the making anyway and needed are parliamentary vote from my understanding.
That's why I am confused. No idea whats going to happen

Full ask paid now. Think the 2’s will be dust any time.
News any day

Oilbell- what rewards are those then?

Agree with that

Well I was working when rns hit. Then looked and it’s all over the place. No idea what’s going on

more good news. BOD doing exactly what they said they would which is unusual on aim. happy to hold and add

bear in mind UKOG will have net production of circa 400 bopd and has an mcap 15 x this.
This is funded upto circa 900bopd and then usig operation cashflow to increase further

complete no brainer imo
dyor

he near-term target is to raise production to 900 bopd from 15 bopd within 18 months via a low cost, low risk workover and sidetrack programme, and then to utilise the cash flow to drill horizontal wells and sidetracks to raise production to c.2,000 bopd. Oil production on the fields offers excellent netbacks, with the current cost of production of c.US$25 per barrel providing netbacks of c. US$30-35 per barrel.

page 10
http://www.blockenergy.co.uk/wp-content/uploads/2018/09/block_energy_corporate_presentation_sep_18.pdf

well N4 through sidetrack producing 800BOPD.
massive upside. roll on news