Beacon Hill Resources - Re: BHR Stream Log - HI bigdog, it's a real...

HI bigdog, it's a real stinker isn't it. When you look back over past RNS statements they weren't exactly truthful with the position they were in, I would say very deceitful on reflection. The timescales for a turnaround in market sentiment and the coal market in particular aren't my concern as I accept things are cyclical and you get ups and downs along the way. I just hope we can reduce the cashburn and see this through to production. Back in Nov/Oct last year they said that with the convertible loan notes and the finance they had in place back then that they had enough to take the company to Tier 1 production - what a load of rubbish that turned out to be. Maybe the last FD had to go because they didn't have their finger on the pulse with the true figures that were need to get this mine in profit. If we need 20m to secure the debt facility and 10m for rail infrastructure then 30m is small fry compared to the 1 billion plus that Baobab require to fund their plans. Everything is now riding on the new finance chief being able to raise the money on the markets. Who knows, he could be a real whizz with some influential contacts in the capital finance markets - lets hope so. Have a good weekend, at least the price won't go down on Sat/Sun and lets see what next week brings.