Beacon Hill Share Discussion Threads

[cjl2112] 08/12/2014 18:45

Libra G
Any possibility your employed by BHR ??

[jack1236] 08/12/2014 18:21

LibraG

Why would you follow the institutions now? They got their investment wrong. They will always recover their monies as they get shares on preferential terms in many placings across LSE / AIM, no such luxury for 'joe public'.

If the institutions walked into a 'brick wall' I'm sure you would follow them.

If Directors/Chairman have misled you in RNS's, you can hold them accountable.

[librag] 08/12/2014 18:09

Katie, as you say, "Most likely because the assets are overstated in the accounts."

Which means that we have far fewer assets than everyone seems to think.
It's precisely BECAUSE there are very few tangible assets, that the only sensible option is to follow the IIs and continue to support the company. Alternatively, you're guaranteed to get zilch.

This is a fair, leveraged bet on the future price of coking coal.

[travls] 08/12/2014 18:00

The definitive list of AIM companies about to go bust:

Tangiers (skint)
IRG (skint)
Tower (skint)
Sefton (crooks and skint)
KEA (skint)
NEW (shower of crooks and skint)
Range (skint)
London Mining (went bust on 16th Oct)
Ultrasis (set to delist very soon)
UKOG (skint and drilled a recent duster)
JLP (skint)

[cjl2112] 08/12/2014 17:57

Katie
Great post sums up the management, only one way to go if you want to stand a chance of getting hard earned cash back vote NO NO NO & NO

[katie1234] 08/12/2014 17:49

There has been a lot of ambiguity in all RNS's this year, continual "Jam tomorrow", I can't recall how many times the due diligence has been done on the expected loan.

Then the debacle over not telling us who the trains are leased too.

The Darwin situation is laughable, if the BOD didn't believe the company was viable they should have said so a long time ago or at very least looked to sell assets to fund short-term finance needs, they didn't do either. Most likely because the assets are overstated in the accounts.

Then the final kick in the teeth is to issue 100bn shares and effectively wipe out PI's how can that be the company being honest with us, its nothing short of highway robbery. Why didn't they issue 10bn shares and do a 20-1 consolidation?? Why because under that scenario we still exist.

Beware of posters claiming the "The BOD are honest and fair" !!! We all know they are a bunch of thieves who are now clutching at all straws just to survive..

[humbugg] 08/12/2014 17:01

it was pure incompetence and NOT the coal price. check out how much dosh they're burning through with the mine shut down. eye watering.

[apeters1] 08/12/2014 16:27

But what is the point of selling any coking coal if you are burning $40 per tonne due to the coal price falling off a cliff?? The BOD did the only sensible thing they could do in the situation and stopped mining activities to save the company (and hence shareholders) money. If they carried on mining activities we would have gone bust a long time ago! You call it bare-faced rubbish - I call it the only thing they could do after the coal price halved. You talk about what they said in December 2012 when the coal price was something like $250 a tonne - since then they have consistently kept shareholders updated with the changing strategy. I think there is a lot of misplaced anger here...we only have ourselves to blame - the warning signs were all there.

[casabella2] 08/12/2014 16:11

For me the BOD have a lot to lose.If we go they go.Don't let them steal from us and survive.

[casabella2] 08/12/2014 16:00

I'm with you katie.

[katie1234] 08/12/2014 15:49

apeters1 - Below is a post from AndytheMKDon on the LSE board which might answer your question.

If the yes vote goes through all PI's cease to exist as the company plan to issue 100bn shares..

If you look at the response from the Chairman to the action group, he clearly states the management no longer run the company, the senior lenders do..

Vitol are trying to get the company on the cheap, don't forget we own 3 resources and a very valuable rail allocation, look at the RNS's to see what we paid for them !!!

The risk of taking the company down is more than offset by the potential gains of getting them to withdraw this lunatic plan, it's not shooting yourself in the foot it's standing up for your rights..

[ian 50] 08/12/2014 15:30

To you lot yr stuckThe reality is as a group of share holders I've got NO CLOUTGood luck

[vsm78] 08/12/2014 15:13

lol apeters no offence m8 but with connection to all above you said it looks like it doesn't restrict them from taking overinflated salaries and living in the expense of ordinary PI

[apeters1] 08/12/2014 15:02

Katie & friends firmly in the No camp - I am still keeping my options open on the voting situation and will listen to the conference call tomorrow to get a better sense of what is going on. My question to you is (and I promise I have no agenda here, I am truly trying to understand your position) - but why do you solely blame the BOD (who have only been in charge for the last 18 months) for this entire situation? As far as I can see it, they were landed with a distressed asset, with an ever sinking spot price, enormous debt that they couldn't service and no institutional investors other than Darwin willing to bail them out in the short term? I seem to be the only one that saw all of the warning signs over the last year at least (since the mine stopped producing) and I think the BOD has been very honest about the situation in its RNSs. I know the BOD hasn't been in direct communication with PIs enough - but everything was announced clear as day in the RNSs. The only person I can blame for losing all my money was me as far as I can see it. Happy to be persuaded by you though...

[filterwest] 08/12/2014 13:31

I already voted "NO", but can we change it? I am going to listen to the conference tomorrow.

[greenrichard] 08/12/2014 13:05

If most people have already voted, then it's too late to change anyway.

[filterwest] 08/12/2014 12:12

Katie1234 - Are you going to listen to the conference call tomorrow?