Not much to say really today. Another typical BHR trading day. I accept this share isn't going to rocket overnight as making progress with heavy industry is a slow burn, but I wish they'd give us a glimmer of hope that they are making some sort of headway and things are going to be OK in the long term. Some very funny posts over on LSE today, good to have a little light relief from the regular banter.
Of course bigdog, you're right, I hadn't considered the warrants if exercised. A truly diabolical thought. We must need our bumps feeling having invested here when as you say, not even the BOD have put there money down. That in itself speaks volumes. I've said before that RK may be strong operationally but he's not CEO material and as for Finance they needed some big gun 2 years ago with some clout in the market place to sort this mess out. 1.5 to 2p would get me out of this mess with the shirt still on my back but a few more grey hairs than this time last year. Good luck pal and I hope it can be salvaged for all our sakes.
I've just been doing a little lunchtime maths to put some perspective on how low BHR have gone. When the final shares of the 600m dilution are placed before the end of July we will have 2,486,943,957 shares in circulation - WOW! The rejected take over offer in Aug 2011 was at £120m. With the number of shares in issue today that equates to a share price of 4.8p. That is 10x today's current share price! If that is the case and an offer was made for the company today, what do we think they would accept/recommend to the big investors?
Valid point Romanof. Hadn't considered that one. Though they could play hard ball as the Moz government have $1m of our money held in their accounts for our VAT refund. Could be a Mexican stand off! or even a Mozambique stand off! God I hope this company can get through this, it's like wading through treacle day after day.
Morning Breezy, just logged in to see this drop to .447p. I hate this situation, locked in to a dire share like this that only goes one way. I am so frustrated at the moment. I think the next bombshell is going to be over the train leasing. It will get cancelled because of delays or/and we are going to have to pay a wacking VAT bill on the locos and wagons as they're not classified as mining equipment and therefor not VAT exempt. You would have thought with the mining professionals they have on board they would have known about this and sorted it before now. All news from BHR is bad news - can you recall any news in the last 12 months that hasn't caused the share to drop even further because I can't. Yours truly Mr FedUp
We're on the same wavelength bigdog. I takeover in the next 6-12 months would be a stinker for the long term boys. I have averaged down 16 times now to get a 1.2p average so would be hopeful of some profit even at a silly offer. I'm certainly not feeling smug about my position and would happily sit this out another 2 years if necessary so we can get to Tier 1 production with an up turn in the coal market. I'm not confident that RK wants to run a coal mine in the medium to long term though, I think if an offer came in now between 3-4p he would push for the big investors to take it so he can move on. The last 2 years can't have been any fun for him despite his whopping renumeration package. Good luck matey and all the best.
Hi Bigdog, I agree with your sentiments. Very little going on (or it appears that way on the surface) let's hope RK and his merry men are paddling away in the background to get this company in shape. It's awful being trapped in this share month after month. The danger with any form of news flow from BHR is that it only has one effect on the share price and that's to send it south. I'm not desperate to get my hands on my capital in the foreseeable but it's really miserable sat on such big losses long term. There never seems to be any definate news surrounding BHR, it's always making progress towards something or just awaiting sign off. Even the trains are sat in a customs shed awaiting release. The VAT issue on the rolling stock is going to drag on in my opinion and could threaten the sub leasing agreement. By the time they are released we are going to need them ourselves and then what happens?
How can we be down nearly 7% with so little trading taking place - baffled!
A little off topic, but it looks like BAO are falling out of favor with investers. They were/are on my watch list (but that's all I'm doing) I can see them going the way of BHR over the coming year(s) - dilution to raise funds, slow pace of progress in Moz, years off any revenue stream, despite being sat on a great potential asset. The money those boys need to get to production is massive in comparison with BHR who don't need mega bucks in the grand scheme of things. I really hope sentiment can change towards BHR and we can come through this with at least some profit at then end after all the pain along the way.
Grief, pain, anger and frustration are the only feelings I would associate with being a BHR shareholder.