Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
PMSL Rolf Harris paint by numbers, comparing a crap work of art and the actual person may not be far short of the mark. As its an AGM and an important one get as many people as you can there to ask the questions that are important to you, remember you all have votes so use them either way rather than abstain on any resolutions. Get active and get involved as its something you invested in and they may give time afterwards to shareholders where you can pick their brains on finances etc, especially if the likes of Darwin and Henderson are to be considered an option, so ask the questions while you have time available. I love to see success stories on AIM as there are far too many being cast onto the rocks surrounded by mystery and hope that you guys more so the long standers here see that come good to restore some faith in AIM ;-) GLA
Any ideas why they need resolution five passing and the consequences of it being passed for shareholders? Resolution 5 - General power to allot shares This can happen if its passed as a resolution. The controversial placing two days before an EGM shows what can be done with it if its passed as a resolution and there will be nothing you can do to stop it, came as a shock to many but previously thought nothing of it when it was first tabled, I'm not saying it will be used but shows you what it can be used for if it comes to a vote. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BHR&ArticleCode=aqa0uird&ArticleHeadline=Subscription_to_Raise_GBP56055
MP, Thanks for the honesty, any ideas on cash burn per month as this dictates how far the cash goes. Has anyone had any response to that question which is a key Q even if a gift horse drops in your lap. With funding proposed how many months will those funds last on securing it would be an interesting detail. Flip side is you get a calculation on if funding doesn't arrive in a worst case scenario, jam tomorrow miners are two a penny in AIM overpromise and under deliver, always nice to have the numbers to crunch on running costs.
Questions for the long termers in here that might know the answers to these. *Does anyone know how much is the monthly cash burn here is at the moment? The completion of the PFS now enables the Company to enter into discussions with the Government of Mozambique as to the structure of the tax regime for the Tete Project. It is for these reasons that the Company has not presented 'after tax' figures. *Will the company present the "after tax figures"? As we embark on the studies that will result next year in delivery of the Definitive Feasibility Study ("DFS") we recognize that it is optimistic to expect us to be able to finance a project with a capital expenditure requirement in the region of $1 billion on our own *How much of the needed $1BN Capex has been raised so far in BAO? (Not what might come, but what has been secured already by way of meeting a commitment to that $1bn)
UCL, The BOD wrote this in the last RNS It is unlikely that the Administrators will seek to appoint a new Nominated Adviser in respect of the Company. The company is in the hands of baker tilly who are the administrator, their prime objective is to track down what assets we have, value them and sell them on to recover funds and work out why this failed. It could be those assets are worth two pence, could be that they are worth more but would have to audit them to find out, even a buyer would want to know what they are buying to be able to assess if its worth the money. Nice as it may sound a blind auction for whats under the tarp, you get five seconds to peek but not cross the line. Lets see what BT make of the assets based on their value by the auditors as a starting point as the BOD refused to comment on those asset values at the EGM, here there is no option for that.
Register on the shareholder site and then at least if this closes down, which it will if it delists. Once it comes to crunch time, all shareholders will have to prove who they are. Just keep in mind that the action group site most likely has moles on it already. No one is promising anything now, but rest assured people are trying their best.
You do have to feel sorry for the people that bought in off that massive ramp when the listed a year ago. A year has flown by and so has the SP. Its been nothing but bad news for those people for one year after all the PR was done on RM2. Think the best we have seen here was during pallet porn and alternate uses of the Blocpal. Were approaching Woodfords buy in point so perhaps he may fancy another flutter to boost his fund splits. Come on, one year on and there must be some good news to news to show progress is being made.
So far it looks like no regret has been shown to shareholders in any way shape or form, RNS doesn't read that way when you consider its $80M wasted, where does it say this in the RNS? "Beacon Hill regrets that it failed to find any viable source of funding" Regret: 1.feel sad, repentant, or disappointed over (something that one has done or failed to do). RNS says this, it may be a small point but no mention of regret to shareholders. "the board of directors of the Company (the "Board") has been unable to secure any viable alternative funding for the Company" This does not sound like regret from the RNS if we look at the definition. Regrettably, in light of, inter alia, the Company's significant liabilities and prevailing adverse global coal market conditions, the Board does not currently anticipate that the Company's shareholders will receive any proceeds in relation to their ordinary shares from the administration process. Could be how people interpret the definition, but a valid point none the less already touched tonight by a few.
http://www.clubofmozambique.com/solutions1/sectionnews.php?secao=mining&id=2147486546&tipo=one
UCL, not much sincerity in any of those RNS's, look at the arrogance shown to shareholders, did you expect any? Plenty of pleased to announce like the suspect looking 56k buy RNS and the rail we were told so much about in a killer "Beacon Hill snares rail allocation" RNS Having plumbed in $80M of shareholders cash with the inclusion of risk management to administration really should give up the day job, not one word of remorse to shareholders has been shown after $80 Million has been blown, lets hope the industry and regulators also see it this way. This little gem can be found on the BHR website http://www.bhrplc.com/riskmanagement.aspx Beacon Hill Resources is committed to effective risk management to achieve our business objectives. We aim to continually improve our management of risk, to make better decisions to achieve our objectives and to reduce the likelihood and consequences of adverse effects to tolerable levels. Some risk management in place you have there boys, one question would be with that much care and attention to detail, how on earth could anyone mess up that badly, "tolerable levels" let the company get to the point it did. Gross negligence could be one serious way of looking at it. ;-) Are we not due a "MML snares BHR's rail allocation" RNS ?
http://www.clubofmozambique.com/solutions1/sectionnews.php?secao=business&id=2147486506&tipo=one The strikers complain that when they attempt to negotiate wage grievances with the management, they are told that they should be thankful with what they are offered. Do we run this mine as well as the employee soundings sound so so familiar?
Eric, No one knows what will happen, until we do just hang in there. You may have invested 17K at 17p, some people have invested even higher than that and are still trying to scrap this out, keep popping in and you have my mail if you need any updates. I can see where your coming from at 17p of course I can but the lets see whats what as you never know. We don't yet so until we do know just keep slugging it out until we do know rather than lob the towel in and Karstel announced as a winner, you still have votes too!
No one knows what will happen, lets get the ball rolling with administration. Remember Rome wasn't built in a day, no one will have conclusive answers by next week. Don't give up either as no one knows what can be done, how, who, or figures. What we do know is that people are prepared to give it a go. People that have put a lot of time and effort and some of their own money in already to get to where it is. That's what should be remembered, don't bicker and don't give up as no one knows what the options are at a guess perhaps apart from BHR who may have a game plan for some time. This isn't an easy task for anyone, just hang in there. Plenty of derampers,board moles, people threatening legal action against people trying to push it forward, it isn't easy is what I can say but were still trying and be patient with updates etc.
I wonder who's name is on that sublease....already hauling coal since October? Come to think of it where is that money from October, November, December, January? However, Thelo's biggest coup to date was June's $US 68m leasing deal for 16 new GE locomotives for Vale's Moatize coal operation - the vanguard of what GE says will be a huge fleet of its locomotives that will be hauling coal in Mozambique by the end of 2015.
Now now......read on a bit further. http://www.railjournal.com/index.php/africa/a-bridge-too-far-african-suppliers-facing-unique-challenges.html Yet rail, along with electrification, holds the key to Africa's economic development, says Mr Tim Schweikert, president and chief executive of GE South Africa. "If you had two bullets in your gun, one of them would be rail infrastructure and the other would be electrification," I
Who knows, I'm sure it will come out in the wash, it always does. Yes you lose, no you lose, I guess Mr Larks votes would tell you which one it was.
Who was the JV partner? Jindal was the JV parter at the Carbonac site RNS 9384Y 31St Jan 2014 MML approached JPSL Mozambique Minerais Limitada (JPSL) to jointly develop the Carbonoc Coal Loading Site (CCLS)in the province of Moatize. RNS 4476T 20Th Nov 2013 "The first test train has now arrived into the newly built Tete siding to undertake a test loading of coal. The locomotives carried 42 rail wagons and loaded 2,600 tonnes of coal under test conditions. This trial exercise was carried out in conjunction with our JV Partner JPSL. http://www.jindalafrica.com/contacts Why spend money on something we don't use? Put that into perspective, mines, trains, wash plant, sidings, stockpile areas, coal exports, we don't use either. Some habits are hard to break I guess.
Do remember that the site already may have people registered that do not share your point of view, this could be from any company related to BHR to BHR its self, posting it on the site will be visible. Keep it in mind if you post something that has some worth.
I created this in general topics, this thread will not get closed down if BHR board does. You can post there if this gets closed down and has the location of the shareholder action group site in post 001. This at least gives you a place to post etc. Bookmark the thread: http://www.lse.co.uk/general-chat-discussion.asp?TopCode=BM6EF3UW