SLU - I suspect it may stay at this level now for a month or two. With no news there's no incentive to either buy or sell. Any brave souls may use this time to average down further if they are bold enough. I'm giving BHR only a 25% survival chance and I'm in here for a lot of dough if it does go belly up in the new year. RK is massively out of his depth I believe, and always has been. Had the BoD had their fingers on the pulse they could have raised sufficient funds 2 years ago and not dragged the company down this path. They are clearly floundering around now and have no bargaining power what so ever at this market cap. I'm not deramping I'm just a realist and have been here some time. All the best,
What a difference a day makes! 24% down on the day - you wouldn't have thought it possible. Once this hit .1p I was sure it couldn't go any lower but in true BHR style it heaps a whole load more disappointment upon us all. Just the 92% down now but eh oh what's another few percent. The BoD are going to really struggle renegotiating on the CLN's, they are obviously trying to back pedal on the deal done to give even more away with the optional warrants. The legal boys and Darwin will wrap them up in paperwork and legislation it will take them until next Christmas to sort it out. RK is massively out of his depth when it comes to corporate finance and clearly no one with any knowledge in the subject is advising him. Pitiful, shameful, disgraceful - all words that have been said a thousand times before but more applicable today than at any time before.
And she falls even further to 0.07p for a moment.
Oh dear - .08p as I type. Another typical BHR RNS - nothing of any substance and they have just deferred the problems into next year.
Morning Jam, you brave thing you! You've done well to get down from 3.5 to .8. I have come down from 2.85 to 1.03 but it has cost me a lot as I bought at the wrong times. I put 3k in at .66p months back. My entire £31k investment is only worth £2,700 this morning - it stinks but I've only got myself to blame. £3k this morning would do some serious damage to my average but my brave pills haven't arrived as yet. God luck pal and I hope all this averaging down proves the right decision to have made. How deep are you with BHR?
Cheers Jam, I have ordered some more brave pills from my GP along with my medication for irrational investing. If they arrive in the next few days I might pop a few with my evening Baileys and see what effect they have over the coming week or so. It would be outrageous to see this company go to the wall with the money that has been pumped in over the last 4-5 years. The one thing that does intrigue me a little is the Commerzbank AG shareholding - why are they here? Is it a red herring or is there more to this? The Germans tend to take a balanced long term view when it comes to business. It's not in their culture to be reckless by taking a punt on a minnow of a coal mine in deep dark Moz.
God knows Breezy, and the truth is nobody knows. According to Google finance stats and figures BHR have 212 staff on the payroll. What on earth are over 200 people doing at a company that doesn't produce any coal and has been on a go slow for 12 months. Everyday gets more worrying without news. I try and switch off from it and focus on work but I've always got and eye on my second monitor in case a news alert pops up. It would be a massive gamble now (if it wasn't previously) to put £5k in now and just ride it out. If they come good and it's a massive if, the upside would be huge. For us boys up near 1p this is torture. If we climb to .2p everyone will get giddy and euphoria for some but we'll still be 70 to 80% down. Crazy to think this company had a market cap of £120million and we still have all the assets we had back then. Old fashioned business principles don't go away - a company with no cash, irrespective of assets can't continue trading. Fingers crossed for all our sakes something can be done to save this company from going bust.
The drop is staggering. If BHR survive the gains from this level will be massive. I just can't bring myself to throw any more money at this right now with Christmas around the corner. Christmas will be bad enough if those goes up in smoke without having lost my slush fund as well.
Oh dear! we sink further in the mire. We have finally plummeted below .1p. Is this recoverable? God I hope so.
Good morning campers, hi de hi! Could this be the day good hold BHR slip under the .1p thresh hold - mental to think I know but it will happen if they don't get some positive news out in the market place and quick. It was in the Times again yesterday, front page of the business section, Mick the MIner at X2 has £3 billion in his back pocket raised from investors to buy mining companies. Can't RK give him a call and see if he's interested in our little outfit. Good luck and fingers crossed for good news.