Member Info for MULLITOVER

Franny1968, That makes you and your decision 50/50?!

Did anyone bother to look up Bellzone Mining UK yesterday?

"I wonder whatever happened to pineapple?" I don't know... But pineapple should never be put on a pizza!! :§

I think the last RNS is clear. Remember though, there is a certain 'language' used in these RNS's. The Co. informed the market that unless funding arrives by.... Then the Co. will not be able to continue and the BOD will have no choice but to invoke an insolvency procedure. It's often better to try and see these situations from both sides... If you are able to.

1.In my opinion, they have temporarily suspended the FS work to conserve remaining cash until working funds arrive. (I wonder if they're also suspending their wages too!) :)) 2. Of course... They have been and continue to be whilst being the major shareholders.

Mr cautious "My belief is that why would you send out RNS's that would trash the share the way they have without an ulterior motive" Would you elaborate please?

"Reall, and how do you know that exactly?" Well, I'll say this, if you actually ask the right questions to the right people then you will have a greater knowledge of what is actually happening rather than just guessing all the time. As I've already said, the BOD are cutting out the unnecessary waste before new funds become available in time - that I am confident of. 'Tabasco' is just posting fear across the board in the hope of getting some to sell their positions. Scaremongering about who's to blame and which company owns what... Bellzone Perth, Bellzone UK, Bellzone France, Bellzone Singapore, Bellzone Guinea.... A large number of these subsidiaries have now been closed to cut costs, which is what Hudson are requesting is done. Its good business sense. There's more to this than meets the eye. As REALL say's you have to read between the lines...

Hudson are asking the BOD to tighten their belt before providing further working capital... imo. Hudson have already provided working capital and foregone dilution already so they have every right to request that the BOD remove any unnecessary excess before providing further funds. I do wonder if that is why the Chairman stepped aside recently and was replaced by an existing NED. All makes financial sense to me...

I think the terms of that would be... up to $4m... at the discretion of Hudson...

and what are Bellzone going to do... Give them a Chinese burn!? ;)

Wasn't it up to a total amount of 440,000 new shares?

Sparky They raised additional funds via placings since then...

Look at it this way... If Hudson don't have any money and therefore don't provide working capital, Bellzone goes into administration... The licence will revert back to the government. The government will not re-issue any Kalia licence to CS/Hudson as they don't have the funds to develop the project. The Guinean government are looking for projects to get developed... Therefore, it's more likely someone like Chinalco would show an interest in Kalia, (following insolvency) and morph it into their Simandou plans and would have deep enough pockets to actually get things off the ground. Let's hope the next $20B infrastructure project the Chinese fund will be Simandou... Like the project opened today in Hong Kong! :)

Sparky, CS will not allow BZM to go insolvent. They will loose the current licence to the government. The BOD are currently cutting their 'Bellzone' cloth... at the request of Hudson... Patience required...

Just have a read of this article regarding magnetite... The Chinese want magnetite... and Bellzone have billions of tons of it. Along with Simandou, it will create thousands and thousands of local jobs in Guinea and unbelievable growth.... If anyone has looked into Simon Brickles, then they may know he has a background in finance and looks for the growth opportunities... I'll say no more... The only difference regarding the article, it refers to Australia... But what's not to like regarding such a massive magnetite deposit... Worthless some are saying... Yeah right! http://www.magnetitenetwork.com.au/who-we-are/magnetite/

There is more to this than meets the eye...

There may be answers before then... Garyn. Correct, OTN mining is a subsidiary of Bellzone Mining PLC and therefore the assets/licences are owned by Bellzone. However, these licences will revert back to government control upon any insolvency of the company. (and not to Hudson)

Garyn, Where did you get the £1,25m owed to parent company from? Has anyone bothered to look this Bellzone Mining UK up? It was incorporated August 2009. It was dissolved today. Simon Edwards was the only director and he became a director on 17th July. Judging by the former directors there is no association of this company with Bellzone Plc. Coincidence... Or is this dissolution is a Red China 🇨🇳 Herring!!?

Beginner. What you need Walko for?

"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" If Bellzone go into administration, the mining licence will pass back to the government - fact. There will be no getting around that. Upon settlement of the outstanding loans, the security held by CS/Hudson will be released. The repayment terms of the loans have always been moved further on to enable the Co. to continue as a going concern. CS could have taken the security/assets by default on several occasions now but they have not done so at any stage - just provided additional working capital and as I said moved repayment dates accordingly. Maybe a dormant subsidiary is being closed, so a new one can be opened...!? For every door that closes, another door opens... as they say!