Beacon Hill Resources Forum

if vitol buy the mine for $1 that would make our shares worthless surely this is not legal if we own 80% of the business how can someone buy it for $1

That should get the blood boilng over on LSE!

Is Vitol majority loan note holder? If so, they hold the cards.

Exactly my point. There's nothing for shareholders.

buffetinwaiting - not sure it says that if in administration Vitol could buy the mine for $1!

[link] - RK doesn't have much to say for us long termers. Hopefully some news be it bad/good shortly though.

No news is bad news IMO. Probably negotiating a structured administration with investor. PIs will be excuded as shares will be worthless. Loan note holders have to agree and probably will.

mike190: if administrators were called in what could we excpect to see in the sp

PLAN B dont think we will get an offer that would see most of us back in profiti would need to see 10-12p to se a return on my investment

Morning Breezy and a happy new year to yourself and family. Even if cheap shares are on offer I won't be sinking more money in whilst the current BoD are in place. They are a shamble at best. If a serious player took over with a proven track record, i.e. Mick Davies at X2 then I would average down further. With my realistic head on, this is going into administration unfortunately. BHR are 18 months off having any form of income and I just don't think they can stay in business that long without any revenue. They lied to us in 2013 when they said they would be shipping coal in Q3/Q4 of 2013 when realistically it could be Q3/Q4 of 2016 - that's a 3 year difference! RK and his men should be struck off for gross incompetence. All the best idg69