Member Info for EyeGuy

DE- no idea mate. Got a low av and my pf are pretty much freebies anyway so I wont lose sleep but im sure others will.

is this from 6 months ago:
he remaining undrawn amount of US$3.2 million is now made available until 31 December 2019.
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With immediate effect, all of Bellzone's loan facilities now have repayment dates reset to 31 December 2019 from 31 December 2018. The effective re-financing of its long-term liabilities provides the Company additional operational visibility and important financing flexibility.

a possibility that the BOD may have pissed off Hudson by trying to dilute under 50%. Hudson rejected this at the AGM. Maybe they are just flexing some muscle a bit. They need to sort this out

6 months ago we had this:
Bellzone Mining plc (AIM: BZM) announces that Hudson Global Group Limited ("Hudson") has agreed to amend the Loan Agreements dated 21 December 2015 and 23 December 2016 as follows:
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(1)Â The Availability Period of the 2nd Hudson loan is extended from 31 March 2018 to 31 December 2019;
(2)Â The Repayment Dates of both Hudson loans are extended from 31 December 2018 to 31 December 2019;
(3)Â The non-default interest rate of the aggregate of five (5) percent and LIBOR shall continue to accrue in the period of amended Repayment Dates from 31 December 2018 to 31 December 2019.
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The Company also announces that CS International (S) Pte Ltd ("CS") has agreed to amend the Loan Agreement dated 18 August 2014 (as previously amended by written agreement on 28 January 2015, 4 March 2015, 17 December 2015, 8 December 2016 and 18 July 2017) as follows:
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(1)Â The Repayment Date is extended from 31 December 2018 to 31 December 2019; and
(2)Â The non-default interest rate of the aggregate of five (5) percent and LIBOR shall continue to accrue in the period of amended Repayment Date from 31 December 2018 to 31 December 2019.
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Updated Loan Facilities
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CS provided one loan in the principal amount of US$10.2 million to fund the working capital of the Company in 2014 and 2015 and this was fully drawn down in 2015.
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Hudson provided two loans in the principal amounts of US$6.5 million and US$4.0 million to fund the working capital of the Company in 2016 and 2017 respectively. The first Hudson loan was fully drawn down on 29 March 2017 and the first draw-down of US$0.8 million from the second Hudson loan was completed on 6 June 2017. The remaining undrawn amount of US$3.2 million is now made available until 31 December 2019.
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With immediate effect, all of Bellzone's loan facilities now have repayment dates reset to 31 December 2019 from 31 December 2018. The effective re-financing of its long-term liabilities provides the Company additional operational visibility and important financing flexibility.

well Im glad my omi shares are doing well
ive taken a bath on bzm today.
thank goodness for omi

chippy- I thought this would do well hence Ive added. I was aware of the Hudson risk and of course I looked at this over the years but realistically with $3.2 million of undrawn loans, changed repayment date to next year plus the operational improvements could anyone really say now that Hudson cant give support? I would understand it 2 years ago but just as this is improving. There is certainly more to this. These assets are world class and worth multiples of this mcap.
Having bzm continue -with their, listing and licenses should be something that Hudson want to do. after all their shares will be worth mulitples if the value is increased as it should be. Its just odd and I hope its a temporary breakdown of some sorts. The BOD have to release this rns and do what they can of course.
lets see what the next news has to say

great. The amendment is Bellzones with their registered office.
Im guessing this cannot be transferred without re-application. And seeing as though this has taken 6 years then I take that as good news

yet my trade not showing here and its settled. mmmm.

took some more at 0.18 so av now 0.35.
will just have to wait and see. nothing wrong with assets or management, or government now.

Order to buy in at 0.20p should bounce

That’s what is odd bigbear. If Hudson don’t have the funds then they lose everything anyway so they wouldn’t have vetoed the placing. It sounds as though it’s internal squabble. They still have 3 months and very strong assets.
I’m holding and seeing as there is definitely more to this

It’s low enough as it is. Plenty will be buying tomorrow I’m sure and major assets not priced in.
The going concern statement is the same as on any aim company if you look at the annual reports.
And they still have $3.2 million of the pre agree loan facility anyway. Not sure they can withdraw that without an official egm. I think it sounds more like some breakdown somewhere and let’s hope it’s resolved soon.

Mullitover- there is a lot of change in Guinea and with bellzone. Things are looking better now than they have for years and maybe it’s an issue with direction. Of course the board need to act and release a statement. They can’t leave it until the last minute. But now the rns is out Hudson could start dialog and release funds from the already agreed loan or at least give some clue as to what they want. Bzm have good relations in guinea - that’s clear from the ambassador interview and they have spent $250 million and have world class assets including the mining license and permits.

They still have $3.2 million undrawn from the pre-agreed facility
The remaining undrawn amount of US$3.2 million is now made available until 31 December 2019.
loan repayment dates have been pushed back.
Should be fine.

Dadsbatty- well it will certainly be a busy board here tomorrow. Possibly $250 million of assets about to me monetised are part monetised and then this. More to this than meets the eye and could be simply a breakdown of communication and bzm forcing Hudson’s hand.
Asset sale seems a good bet anyway - advanced talks for Konta Port.

Well it is pointless advancing ferro nickel project until this has been resolved. Pretty shocked tbh because Hudson has provided money and backed bzm during bad times and just as it’s picking up seemingly don’t want to support? The recent interviews suggest that 1. Bzm has good relations in Guinea. 2. They are close to monetising an asset. Maybe we are closer than we think and that’s why Hudson aren’t releasing more funds? There is more to it than what’s on the rns and maybe some internal squabbling possibl with the board changes. It’s certainly not because the assets are crap. It’s likely the complete opposite. The going concern statement is the same as any non cash making company. They need money- as does every mining company pre-production just as Solomon gold do, asiamet do. If thesw companies too don’t raise money then it’s curtains for them. That’s why companies exist on aim and other markets. We will find out more over next few days. Assets here speak for themselves and agree that Hudson would be rather shooting themselves in the foot if they stop their support. It’s possibly because of a different direction between Hudson and the board. We will see. Assets speak for themselves. Guinea is open for business. Bzm have great relations in guinea and are advancing their ferro nickel project. Will have to see what happens. Gla

Nope. Just digesting

Bids going up. Can sell all above bid but not much around at 0.65.

Great. All resolutions passed

Timeline for this doing well imo is any day. Slight overhang imo is obvious with how it’s trading.
Float is tight when this has gone which means buyers will have to pay.
News should be coming thick and fast on the ferro nickel studies
Plus any sniff of a takeover jv etc and even better
Personally I think it should be at 3p now.
Dyor of course