Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
of the Daily Mail wooden spoon award 2014 http://i.dailymail.co.uk/i/pix/2014/12/30/2456159600000578-2891873-image-a-6_1419982939455.jpg The wooden spoon lands in Beacon Hill Resources’ lap. The jam tomorrow miner has slumped 98 per cent as it got itself into financial difficulties. It left the board struggling to restructure its finances. They even adopted the Jam tomorrow strapline in the writeup, was it not them that tipped BHR?
Hi Cruickie1, as it says its all guess work. Even at 500k a month burn rate that's only 6M drop assuming we had nothing in the tank and as we know Darwin and not forgetting Mr Lark also provided much needed funds. Would be a blinder if we bought machinery for the non producing mines we have, company expenses should have gone down for a mine that also doesn't produce anything and offices that are not in use should not be needed either. That is why the audit will make such interesting reading. In my opinion only of course.
2012 accounts http://www.bhrplc.com/documents/BHRAnnualReport2012_000.pdf £65,896,391 Note GBP in accounts 2013 (£79,487,237 in 2011 rounds out at $99,635,763 in todays rate http://www.bhrplc.com/documents/BeaconHillAnnualReport2013.pdf $60.2m note USD in the audited accounts 2013: Between 2012 and 2013 we lost asset values of $40M seems excessive Minas Moatize values $10m USD CHP construction cost (@) $21m USD in terms of a Rail stock? $xxm USD in terms of sublease for current capacity 0.5mt $xxm USD in terms of sublease for upgraded capacity on line in Q1 1.57mt basic? $415m USD Minas Moatize Mozambique 1.8mtpa + 8.3Mt saleable coking coal $50 Mt (#) $4.08m USD Changara mine Mozambique (with the 2M write down already added) (#) $9.2m USD Arthur river Tasmania Magnesite, with $42m "potential" $xxm USD Arthur lyons Tasmania Magnesite? $xxm USD Beira Rail sidings? $xxm USD Port allocation and stockpile? $185k USD Trucks and plant (#) $501K USD fixtures and fittings (#) Source (#) 2013 accounts (@) 2012 accounts Coking coal price is circa $110 MT for Moatize value in resource, say $50 Mt as a guess. Accounts say we have 8.3MT of saleable coking coal, so have to factor it in. say $50m assets if you exclude what those assets have in the way of resources or potential. This excludes changara as no one knows what is there, but has a value either way even if its for a theme park and shopping centre as thats a lot land at 184km2. Got to be worth more than $1 when you look at the accounts from 2012/2013 Could all be cobblers but if it is its from cobblers the company put out as data to look at.
From the 2013 accounts, even that line plan is way out its at 20MT in Q1 2015, technically their plan is outdated. Do they know this at BHR that the 20MT is 2015 two years ahead of that plan? Sounds like we could do with the railway folks building the T1 production to jump two years on a project delivery date. It could be an honest mistake that the accounts plan shows this, and they forgot to update shareholders that the allocation is an OR when it comes to capacity, thats how im reading that allocation 5.5 or 7.5% of lines capacity. 2017 SENA RAIL LINE AND BEIRA COAL TERMINAL COMMENCE EXPANSION TO 20MTPA 2016 SENA RAIL LINE REACHES 12MTPA CAPACITY OF WHICH MML HAS 7.7% AND PHASE 1 BEIRA COAL TERMINAL COMPLETED "MML has secured rail capacity on the Sena Rail Line (Sena Line) of 0.5Mtpa or 7.7% of the line’s capacity" so this gives us without any additional (Note the OR statement) 1.57MT, this is automatically unless there is some other clause were not aware of on this, so the sublease come Q1 has the facility already to be worth X3 and that's without any additional capacity allocation as we will always take the higher value.
Here is something to occupy possible values with and you can see its tricky. URL's are there for you to see if you can come up with a value. Have a go and see what you can come up with, as you can see the valuations between 2012 and 2013 are way off by over 50%, keep in mind $80m has been spent so far see what value you can come up with. Are we worth something..or are we worth nothing and we will find out why? http://miningalmanac.com/stock/Beacon-Hill-Resources-plc-BHR/financials $132m valuation in 2012 http://www.endole.co.uk/company/05696680/beacon-hill-resources-plc Puts us at £65m in terms of assets. http://www.bhrplc.com/documents/BeaconHillAnnualReport2013.pdf $60.2m asset valuation in the audited accounts 2013: $10m USD CHP construction cost at 2012 $21m USD in terms of a Rail stock? $xxm USD in terms of sublease for current capacity? $xxm USD in terms of sublease for upgraded capacity on line in Q1? $xxm USD Minas Moatize mine Mozambique complete with coal? $xxm USD Changara mine Mozambique complete with coal? $9.2m USD Arthur river Tasmania Magnesite? $xxm USD Arthur lyons Tasmania Magnesite? $xxm USD Beira Rail sidings? $xxm USD Port allocation and stockpile? $185k USD Trucks and plant confirmed in the audited accounts $501K USD fixtures and fittings confirmed in the audited accounts
IMHO and its an opinion only, and apologize for any spelling mistakes in advance. Correspondence so far has indicated that they are likely to take it to admin, I wrote a post a good few days ago on the tone of the words more than anything. Sadly this has since stopped and the offer of a meeting with shareholders tabled ignored. We are as much in the dark as anyone but clearly not as much as miningmx as the CEO found time to update them. Values we have no idea as they are so different where ever you look, the BOD here are saying our assets are worth nothing, but the accounts say different, along with the value that Mitsui paid Vale in December suggests both coal and logistics are fetching good money. Plus we now do not know what deals they made if you use the deal for a dollar as an example, this was not in any RNS and you would think quite an important fact to mention. There is no reason for suspension as none has been given, so you can see why so much does not add up. I think even the Administrator if we have one will have their work cut out. If you think BHR have broken rules report it, there was a post by UCLstudent last night on how to report suspected breaks.
Strange indeed, I think you have to look at it perhaps six months down the line had the vote gone to yes. This is one "opinion" and mine more than likely will differ from others. Shareholders would be diluted to oblivion, no real weight in the company factor in a "possible" placing to take some more PI cash and then run it down again with the amount of warrants and funding options. With not enough weight to change anything this company could have been lowered again and sold off with the dog work done by PI's funding it to near completion someone comes in and cleans up. Just in time for the predicted coal rush of 2016. Think back to the 88% offering at all costs they kept the price down by issuing RNS's to stop it rising, looks the same here again, no reason given for suspension. The Mitsui deal was phenomenal for the amounts as everyone noted, and now our rail allocation could triple or better with that 20mt capacity of the line due for completion in Q1, but alas the bod still say its worth nothing. Mitsui deal with Vale $450 million in cash and assumed debt for 15% of the mine $313 million associated transport assets for 50% "The partial sale of the troubled Moatize mine and logistics project appears to be at a very attractive price for Vale," noted BMO Capital Markets analyst Tony Robson"
Braz, Nice detail, also its secured on assets based on value if my thinking is right. So in theory should be using values from the audit to set those figures against. Which asset though is a mystery as it doesn't say golf clubs, George foreman lean grilling machine, moatize, changara etc Future value took a rise this week on the rail as it will be finished to 20mt by Q1 so our allocation I would presume go up substantially. That deal is with Vitol for $1 but still stick with its Vale operating that sublease perhaps it will come out during beacongate? It does not add up, saying that In BHR what does add up on the face of it looks like a can of worms that even the administrator (if we go admin) may also find difficult to deal with.
Yipman Depends on the value and sale of assets, of which the last comment I think was "no comment" Coupled with the $1 revelation there could be many more clauses that shareholders have no idea exist. All up in the air at this point, but if it does go to admin an audit will be done and can compare with what was reported as the value in the audited accounts, if we do go to administration. If there is a discrepancy then there may be grounds for false reporting as it was signed off. May not come to that, so purely a waiting game.
If you want to complain about BHR to the correct body and want real success. Remember all complaints are confidential you submit, so it is of course to okay to say "I have complained" But should never say what it is you complained about as the nature of it is confidential. Last thing you want is to tip off who ever it is with your complaint or complaints for them to try to cover any tracks. Once complaint is lodged your part is over and await the result of the investigation. This is what I would advise in order to make a strong complaint to the body responsible in order that you don't waste time in back and forward correspondence, if you want to complain about any irregularities you feel should be investigated under AIM Rules. This would be the best way to do it. You cant just complain BHR have broke rules, you must say what those rules are they have broken. As already stated, if there are lots of complaints and you feel that rules have been broken saying and doing is going to bring more rewards, than just having a moan on here. Doing your bit is of equal importance. How to be effective if you want to go the extra mile. 1.Put together a very comprehensive package to make it easier and faster, detailing your complaint or complaints. 2.List document references, dates, people, provide URLs to those documents, attachments, etc etc 3.mail the body at aimregulation@lseg.com with the package you put together. I have a filter applied on the unnamed individuals so could not see it anyway, you could do the same. Most people have, IMHO this is my opinion on how to do it. It offers no false hope to anyone and it is an opinions board for people to give their personal opinions and share their experiences.
I have not had anything back to say its concluded and here is the decision, so for my money is its still ongoing. Along with the others, its not the FSA that its in with. ;-)
Odd as they were more than happy to chat in depth to miningmx about clauses and announcement dates. http://www.miningweekly.com/article/financially-stricken-beacon-hill-top-brass-out-of-reach-2015-01-08
Markets up....and so is RK's interview in its amount of viewers. Miningmx figures are having a good day as well, its like top of the pops and even a $28.5m diamond deal couldn't top the CEO's interview. I bet James Campbell is "very angry" in the rankings for media coverage. Most Read »Beacon Hill to run out of cash in days 07 Jan 2015 11:28 »Rockwell unveils C$28.5m diamond deal 06 Jan 2015 17:04 »Beacon Hill to run out of cash in days 07 Jan 2015 11:28 »Zimplats Bimha to adopt new mining method 06 Jan 2015 14:17 »Sibanye held back by Eskom power woes 07 Jan 2015 10:16
Yes, what a difference a day makes. The mine you can have for the dollar deal is the one played a part as an extra in the film Dad's army. Original version with Arthur Lowe, I wonder what the Moatize war room is up to today? Pushing the shareholders model around a map of Beira with a bass broom no doubt. We have the slogan "enemy" wrote on our token, if you interpret RK's interview.
If you hold off six trading days might be able to buy BHR's Babbage V2 for $1 in our sale Its the one they use for RNS statements, I did say they are slow.
Damn computers again, just be done with it and downgrade to a Babbage v2. No problems with the spellchecker and even has a holder for your feather and ink.
I got mine from this website, its a tad slow but does do the job providing you keep it oiled. ;-) http://www.computerhistory.org/babbage/
Good point on spelling and grammar, it's miningmx not miningmix. I guess even the best can get it wrong, some on here do well for their age as they are operating computers etc. We may even have people who have dyslexia, which is no crime. ;-)
Anyone know what this was about in 2014 https://digiscend.com/services/feasibility-studies/results?pid=2276 Year 2014 Year Supplier Name Project Name Country Project Owner 2014 TWP Australia Minas Moatize coal mine Mozambique Beacon Hill Resources
Odd that one media stream detailed yesterday its confirmed that we will make an announcement, and one media stream has asked and is getting the silent treatment. http://www.miningweekly.com/article/confirmation-awaited-on-coal-companys-financial-woes-2015-01-07