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
I would like to wish everyone in the good ship BHR a happy and prosperous new year. It may be happy for you, but it will take a real turn of events to become prosperous. Our BoD don't have what it takes to refloat this ship and I fear the breakers yard is where the tugs are heading. Nothing would make me happier than to be proved wrong but can't see it coming good for us. All the best idg69
Well that was one heck of a week in the long running saga that is BHR. Are we dead and buried or will there be a white knight? Whatever happens I'm not going to let it spoil the Christmas holidays - what will be will be and I have no influence on the outcome what so ever. Sad to think such a resource once valued at £120million as been ground down to this by a bunch of incompetents. I accept the coal market is on it's back side but I'm sure more talented directors could have got this to Tier 1.
Who you gonna call? - Mr Davis is South African who took control of Xstrata in 2001 when it was valued at just $500m and, alongside some of X2’s management team, turned it into a business worth around $30bn. The X2 team includes former Xstrata finance director Trevor Reid and executives Thras Moraitis, Andrew Latham and Ian Pearce.
Mick Davis, the former head of Xstrata, has amassed a $4.8bn (£3bn) war-chest to fund acquisitions for his new mining venture X2 Resources amid growing momentum behind M&A activity in the industry. X2 Resources, which Mr Davis formed with colleagues from Xstrata after the coal miner merged with Ivan Glasenberg's Glencore empire, said that it has raised an additional $1bn from investors to fund deals. "With almost $5bn in equity and access to significant additional debt funding, X2 Resources is uniquely positioned and we are currently reviewing a number of opportunities in the metals and mining sector," said Mr Davis. "We will build on the team’s unparalleled track record of acquiring and integrating assets and supporting the management teams of acquired businesses to create value."
Evening Breezy, I'd love to think a plan B was on the cards but the BoD are so out of their depth I can't see this happening. Mick the Miner has built up a serious war chest I understand to spend on mining resources, maybe someone should give him a call. If we go under we won't see anything back and had the resolutions gone through we would never have got to production in 2016 without more dilution on top of more dilution. Sad state of affairs for such a promising venture.
The one day I'd like to watch the screens and see what happens following the meeting and I have to go out for the day! We're up 100% today - woopy doo!
Hi Breezy, Have you listened to the TW Bear cast? I think he pretty much nails it and echoes the sentiment of all of us. The whole thing stinks!
Google showing 85% up on the day. Any other day and people would be whooping and hollering at 85% but knowing what could potentially happen tomorrow I can't even raise a smile at this increase.
What a complete disgrace, shambles, this company has become. Why on earth did we trust our hard earned money with these fools. What track record of delivering anything do they have? Absolutely none! I am such an idiot for continuing to blindly average down thinking this could come good in the short to medium term. There was never any real news of substance that reinforced my investment decisions - I am such a colossal fool!