Beacon Hill Resources Forum

Not much to say really today. Another typical BHR trading day. I accept this share isn't going to rocket overnight as making progress with heavy industry is a slow burn, but I wish they'd give us a glimmer of hope that they are making some sort of headway and things are going to be OK in the long term. Some very funny posts over on LSE today, good to have a little light relief from the regular banter.

idg69, we must need our bumps feeling indeed, the unfortunate fact of the matter is that we have been consistently misled by often lied to by the BOD so we haven't really had a true picture to base our investments decisions on, if we had I can tell you I would have ran a mile from this, I was warned by a good friend to steer clear of BHR wish I had listened. Anyway onwards and upwards, I like yourself have averaged down, although I don't think I'll see all of my investment back again I think that in time I'll see a bigger portion than I have now, good luck mate.

Of course bigdog, you're right, I hadn't considered the warrants if exercised. A truly diabolical thought. We must need our bumps feeling having invested here when as you say, not even the BOD have put there money down. That in itself speaks volumes. I've said before that RK may be strong operationally but he's not CEO material and as for Finance they needed some big gun 2 years ago with some clout in the market place to sort this mess out. 1.5 to 2p would get me out of this mess with the shirt still on my back but a few more grey hairs than this time last year. Good luck pal and I hope it can be salvaged for all our sakes.

Idg69, my apologies in my rant I overlooked answering your question, it is difficult to know what they would accept with so many different agenda's, I think it would be the range of 1.5 - 2pps but only my own opinion based on no cold hard facts other than we are struggling for funding and the coal price is still weak.

Hi Idge69, sorry to be the bearer of bad news but if the warrants are exercised then we will be looking at another 600m shares to bring the total to just over 3bn which is tragic for us PI's who showed faith in the fundamentals of this company by investing and helping capitalise the start up only for that to be diluted by quite frankly a financial and commercial incompetant BOD who to be honest do not give a hoot about us PI's, you can bet your last BHR share that any deals done going forward will benefit the BOD and the II's usa PI's really are the bottom of the pile, why would RK care he owns no shares, neither do any other current board members, he gets his salary of £300k pa no matter what, probably why he sold us out on the last dilution, trying to keep the gravy train rolling!

I've just been doing a little lunchtime maths to put some perspective on how low BHR have gone. When the final shares of the 600m dilution are placed before the end of July we will have 2,486,943,957 shares in circulation - WOW! The rejected take over offer in Aug 2011 was at £120m. With the number of shares in issue today that equates to a share price of 4.8p. That is 10x today's current share price! If that is the case and an offer was made for the company today, what do we think they would accept/recommend to the big investors?

Valid point Romanof. Hadn't considered that one. Though they could play hard ball as the Moz government have $1m of our money held in their accounts for our VAT refund. Could be a Mexican stand off! or even a Mozambique stand off! God I hope this company can get through this, it's like wading through treacle day after day.

Morning Breezy, just logged in to see this drop to .447p. I hate this situation, locked in to a dire share like this that only goes one way. I am so frustrated at the moment. I think the next bombshell is going to be over the train leasing. It will get cancelled because of delays or/and we are going to have to pay a wacking VAT bill on the locos and wagons as they're not classified as mining equipment and therefor not VAT exempt. You would have thought with the mining professionals they have on board they would have known about this and sorted it before now. All news from BHR is bad news - can you recall any news in the last 12 months that hasn't caused the share to drop even further because I can't. Yours truly Mr FedUp

We're on the same wavelength bigdog. I takeover in the next 6-12 months would be a stinker for the long term boys. I have averaged down 16 times now to get a 1.2p average so would be hopeful of some profit even at a silly offer. I'm certainly not feeling smug about my position and would happily sit this out another 2 years if necessary so we can get to Tier 1 production with an up turn in the coal market. I'm not confident that RK wants to run a coal mine in the medium to long term though, I think if an offer came in now between 3-4p he would push for the big investors to take it so he can move on. The last 2 years can't have been any fun for him despite his whopping renumeration package. Good luck matey and all the best.

Hi idg69, This is a funny old share, I'm in agreement with you about having to wait a while to hopefully see our money back or by some sort of miracle a small profit, I'm not sure an aquisition would be the best thing for long termers, I think we need to get the business sorted and up and running then when the coal price increases nice rise accordingly, well thats the plan anyway, what worries me is that if we were to sell then the offer may be very low, like yourself I'm happy to wait this one out.