I noticed that the Darwin short is still open; not good, do they know something, however I think they may have a bottom cap on the conversion, still as a company we really need to get those paracites of our backs. I've heard lots about the RNS due tomorrow and there isn't one due, quarterely reports were a market requirement of the ASX and not the LSE, probably a good thing because if the BOD issue yet another 'significant progress is being made' ,we are confident that' ' due dilligence continues' ' we strive to be a teir one producer' ' negotiations are taking place' - I think you get my drift but I'll likely jump through the nearest window out of sheer frustration at the BOD's ineptitude to make progress, any RNS issues that does not contain concrete definitive factual statements will cause the SP to suffer even at this dismal price! Having one of those p!ssed off and frustrated days if you can't tell )
Oh dear indeed, I can understand those selling up, I'm too far down so it doesn't really matter that much, Winston could be right, the death knell may not be ringing quite yet but the reaper is certainly taking notice of us. RK needs to start justifying his £300k pa salary, we need news, you know its bad when long termers are getting out, selling out to Darwin was the worst mistake ever, wonder if thats why the last FD went, we need positive news and we need it fast otherwise the will be in the 0.3's soon, absolutely tragic, am annoyed at myself for being fooled by BHR and its a shame for all those who have had faith in the fundamentals, was reading through previous RNS statements last night, just made me angry, what an amatuer outfit, RNS back in Oct states exactly what funding will be required for, more recently very sketchy on what needs financing and how much is required. Darwin are only half way through tranche one of the CLN.
Idg69 - I'm in deep and worried too, the delays in funding will delay progress on the wash plant pushing their one status further out, the Vitol loan matures next year and will need paying back, the $10m curve ball not good either, god knows how they will fund that, RK has made good progress and so he should earning £280k last year, wish he would put his hand in his pocket and buy some shares, big hurdles to climb in a bad market. Your right about LSE some real coo
I tend to agree, I think any potential buyers are more akin to Vultures circling, why pay a premium when it could be picked up from administrators on the cheap, clearly that is the worst possible case scenario. This wall of silence from the BOD isn't good, nothing on the financing, nothing on the Vitol loans and nothing on the $10m finance requirement that appeared from knowhere, I'm sure the BOD are saving up all the great news for one mega RNS (not).
idg69 - It certainly is a long and uphill road for BHR in the coming 12 - 24 months, whether they can last the course remains to be seen, as usual us small PI's have been shafted, you are spot on with your views on coal, very unpopular, I think the carbon capture could be good if they can get the technology right, I think EON were looking at it for Kingsnorth Power Station re-build however they could not get govt funding for unproven technology. Unfortunately we are stuck at the bottom of a cycle, I often wonder what I was buying when I first bought in 3 long and painful years ago, we had no washplant, no rail, nothing really other than the mine although saying that the price of coal was over 60% higher then so we could have sent it to mport in taxi's and still made money. I'll give that Chasing Madoff a go, could do with something to take my mind of this awful share. Good luck!
me - I would not write off further large drops, as it stands we are not funded to become a teir one producer, the $20m offer for the washplant is conditional, we need a further $10m for infrastructure works, if this comes from dilution then it is more than our marketcap so could be 1 for 1 so thats .25 before you start. Even if we do get to tier one then unless the commody market picks up we will struggle to get a decent margin, also while not producing they are burning through cash so anything we have at the bank which I think was $8m but the costs are $11m, you can work it out for yourselves, I've been in this for ages and am angry that the bod has lied to us and bent the truth, dog of a share which will go down with many other as AIM disasters IMO!
Does not look good at all, the SDF news is really important, can see this rising before any announcement whenever that maybe, got a few quid spare for a top up but am going to hold off for the time being, this could well hit lower!