harpmandoodle
12 Jan 2015
Some corrections to ansy on lse: They cannot draw salaries. it is up to administrator whether they retain director's services and it will be at a much lower cost if any. Administrators do not act impartially, they act on behalf of themselves and then the creditors. BOD will be creditors too along with the employees. They now have to notify us of a creditor meeting in the next few weeks. see you all there.
Kev293
12 Jan 2015
Bantam Spirit I'll take you up on that offer....I'm invested in FFR, so if you want to sell up if you have any of those please feel free. That way if anything happens over there where I have to make a choice based on my own feeling, risk of loss and personal moral standards I won't have to listen to you or the mob banging on about the choice I made because it doesn't suit your own agenda.I think the majority of No voters knew where this was going to end up eventually and were in the main willing to loose out be it now or then... greed playing no part in that thought process.Anyone who can't afford to lose it shouldn't invest in it... and no where more so than in AIM, case in point BHR.ThanksKevin
breezy
12 Jan 2015
What a sad day I have lost a lot of money here. I am gutted . Hope you are proud Justin and Rowan how you destroyed what should have been a great company.
Phil-inmypants
12 Jan 2015
Re: Happy? Well, my £37000 investment has vanished like a "fart in the wind". I could have jumped ship months ago...NO, ACTUALLY YEARS ago!! Greed kept me here. Same as you probably.AIM is a risk v reward decision. YOU took that risk, and you took that decision to invest in BHR, same as me, same as everybody. Yet only the few, cry in to their now worthless BHR shares, only the few blame others for THEIR own poor judgment.If my £37000, and others losses, inspires investors to hold any underperforming BOD's to account, and in turn that makes AIM more regulated, with the help of people like Redbike, Katie, AndytheMKDon etc on the LSE bb, then fantastic. IF not. Then i'm a big boy, doubtless BHR wont be my only bad investment, but you wont hear me bleating and whining about it on a BB
clockwurktangerine
12 Jan 2015
Re: Its a no! I agree it was just away of getting at the BOD, now even recent buyers will lose out, many of the original punters could have sold out at say 5p but wanted more. But maybe the no voters have a plan to take the matter to the highest court in the land and get our investments back.Not many of them commenting....Whatever they have succeeded.....
Level2
12 Jan 2015
Harp agreed count me in.
harpmandoodle
12 Jan 2015
looking forward to the first creditors meeting. Suggest many attend. Action group should now hire advisor to go along in their place to ask pertinent questions. It can only be a few weeks away.
Level2
12 Jan 2015
What about rail, pig iron etc etc no doubt they're all in the name of MML !!!!
Bantam Spirit
12 Jan 2015
Re: Its a no! As predicted on 18/12/14.It would have been much better to have got a few hundred out of this rather than losing thousands!You lot who voted NO ...can you give me a list of your other investments and...if I have any of them...I'll make sure I sell my lot now and move on to better investments ...avoiding any others on your lists.Bantam...and it's a good night from me! I might as well have put 20k on my team to beat Millwall on Wednesday followed by a 5-0 drubbing of Chelsea!
Level2
12 Jan 2015
So all not quite over yet !!! Looks like more lies posted by the bod ???
Level2
12 Jan 2015
Let's bring these fu""ers to justice !!!
Escovido
12 Jan 2015
Re: Happy? I'm happier than if they took it off us the other way. Why? Because at least the authorities are looking at some of the goings on re the hairdresser and his purchase of shares. etc etc. and the end game is the same. 0 for PI's. BTW - I see Moatize does have a value now.
idg69
12 Jan 2015
What a sad day for a company with such great potential but never realised by the BoD. I have lost a considerable sum on this - over 5 years of savings, but only have myself to blame for leaping in head first and not spreading my risk. I'd all but written this off last year so my head is in an OK place right now whilst my wallet isn't. I'm genuinely sorry for all those that have lost money on this turkey, it should never have come to this.
Hoppel
12 Jan 2015
Re: Happy? Some silly PI's who thought they were smarter than the professionals finally broke the camel's back. One lesson learned from this write-off investment: never invest alongside amateur punters who have never seen a boardroom from the inside...
biglad001
12 Jan 2015
RNS - Administration BEACON HILL RES12 Jan 2015 16:15
2Beacon Hill ResourceRNS Number : 9498BBeacon Hill Resources plc12 January 2015 12 January 2015 Beacon Hill Resources Plc / AIM: BHR / Sector: Mining Beacon Hill Resources Plc ("Beacon Hill" or the "Company"
Appointment of AdministratorsBeacon Hill, the coking coal developer focussed on the Minas Moatize Coking Coal Mine in Tete, Mozambique (the "Minas Moatize Mine", announces that, further to its announcement of 17 December 2014, the board of directors of the Company (the "Board" has been unable to secure any viable alternative funding for the Company and it is now in default in respect of interest payments due to certain holders of the group's outstanding convertible loan notes. Accordingly, further to independent advice received from the Company's appointed insolvency practitioner and discussions with its senior secured debt provider, Vitol Coal S.A. ("Vitol", the Board has decided that the Company is no longer able to trade such that it must now place Beacon Hill Resources Plc and its wholly owned subsidiary, BHR Mining Limited, into administration. A formal notice of the appointment of Graham Bushby and Phillip Sykes of Baker Tilly Restructuring and Recovery LLP, 25 Farringdon Street, London EC4A 4AB as joint administrators of the Company and its abovementioned subsidiary (the "Administrators" has therefore been duly filed at Court and their appointment is effective immediately. Vitol's senior debt facility is secured over the Minas Moatize Mine which is held by the Company's principal wholly owned operating subsidiary in Mozambique, Minas Moatize Limitada ("MML". At this stage, MML has not been placed into administration as the Board and senior management will now seek to work with the Administrators and Vitol to maintain the Minas Moatize Mine as a going concern and identify potential acquirers. There can be no guarantee that MML and/or the Minas Moatize Mine can be sold as a going concern or at all. Accordingly, pending the outcome of the abovementioned administration process and resolution and clarification of the group's financial position, the Company's ordinary shares will remain suspended from trading on AIM until further notice. 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. Following the appointment of the Administrators, Strand Hanson Limited has today resigned as Nominated Adviser and Broker to the Company with immediate effect. In the event that an alternative Nominated Adviser is not appointed within one month from today, then, in accordance with Rule 1 of the AIM Rules for Companies, the admission of the Company's ordinary shares to trading on AIM will be cancelled. It is unlikely that the Administrators will seek to appoint a new Nominated Adviser in respect of the Company. A further announcement will be made in due course, as appropriate. Justin Farr-Jones, Chairman of Beacon Hill, commented:"Since 17 December 2014, the Board has endeavoured to identify and progress potential alternative funding and restructuring solutions with its senior debt provider and other key stakeholders to take the business forward. However, as indicated in the Company's announcement and circular of 1 December 2014 detailing the recommended conditional restructuring and funding proposals, it has unfortunately not proved feasible to secure any viable alternative sources of funding in the time available. "Furthermore, due to the lack of sufficient shareholder support for the restructuring and funding resolutions proposed at the general meeting held on 17 December 2014, the Board and potential interested third parties were of the opinion that any alternative funding strategy prop
