Bellzone Mining Share Discussion Threads

[andinvestor1] 18/10/2017 19:10

Thanks fund1

[fund1] 18/10/2017 17:15

Andinvestor and others on this bb this looks to go along with them rumours. Had this reply via email from the company.Thanks for your email. We share your – and other investors' – frustration. A whole series of factors unrelated to Bellzone have intervened to prevent signature over the last 4 months, in particular the availability of ministerial time such that the civil service can get together in one place at the same time the three ministers expected to sign the Addendum. By way of example, the Mining Minister has spent more time outside Guinea than inside it during this period, in China, Russia and other locations important to the Guinean mining industry (dominated by bauxite at present). We believe we have come to the end of this period of intense foreign travel for the Mining Minister although both he and the President will continue to have time taken up by negotiations over the apparent crown jewels of Guinea, the Simandou mining licence area. As such, we are very hopeful that it will now prove easier to marry diaries and obtain the signatures required. I should note that the signature of the Addendum is effectively the penultimate approval of a change in the law of Guinea, making it an important event; and Bellzone is not in control of the process of arranging signature, this is the responsibility of the Secretary to the Government, who might be considered to be one of the most senior Civil Servants in the country. Once the Addendum is signed, it will move to the National Assembly for ratification – this should be a rubber stamp. Kind regards,

[fund1] 18/10/2017 14:17

No I agree next rns will be either signing completed or not happening.

[andinvestor1] 18/10/2017 13:56

I don't expect a RNS saying meeting arranged - more that it has been signed or if we are very unlucky that they don't see it getting signed. It seems that everything is pretty much in place and the right people by reports are in the same place so could well be this week or next. Looking at the timings in recent interims I think they expect signature in October. See as follows:

"Following signature of the Addendum, it is expected that the feasibility study work on the Kalia Ferronickel Project will recommence after the worst of the annual rainy season in mid-Q4 2017 with the aim of completion by mid-2018, potential financing and construction in H2 2018 and thereby the potential for production to commence in 1H 2019."

[fund1] 18/10/2017 13:41

Got to be an update due soon either way.

[fund1] 18/10/2017 13:24

Let's hope so andinvestor.

[andinvestor1] 18/10/2017 11:04

Reports on the LSE board that "we've been told the 3 ministers are now in the country who need to get together in order for this to happen". If that's true then this could mean we get the RNS at any point in the next few days! Fingers crossed.

[andinvestor1] 18/10/2017 10:02

Seems quite a balance market with the buys that have just gone through - interesting that when they drop the buy price is the buys do come in quickly. Come on BZM let's get the document signed!

[ultra capital] 18/10/2017 09:54

Lots of Sells again today guys

[doctor 69] 17/10/2017 15:15

Well buying came back in after the drop

[fund1] 17/10/2017 14:36

Remember Ultra is going to post negative stuff to try get himself out of his short postion. It is in the interest of the government to get it signed. They will benefit from a producing mine. It will happen.

[andinvestor1] 17/10/2017 14:04

Fraud? Thats a pretty powerful word. Could you expand?

[ec125] 17/10/2017 13:57

I'm afraid it is simply a company that's been subject to extremely poor governance and fraud, like many companies on AIM. the price may well go up and down, but the promises will not be delivered on.

[ultra capital] 17/10/2017 13:28

This all pins on the government signing off the addendum. A much safer long position is ggp.

[andinvestor1] 17/10/2017 11:58

Fair point. My view is that it is difficult to get things done quickly in most of Africa. The company has been clear about meeting all demands and it's just a case of trying to get a few very busy senior people to have a meeting where it can be formally signed. After which the plans can progress.

[ultra capital] 17/10/2017 10:33

Just my opinion. I always felt they would mess bellzone around and it seems they have done that. If they were that interested in bellzone they would have your addendum signed by now.

[andinvestor1] 17/10/2017 10:30

It's true that the delay is annoying but the company is trying to get it signed - if you look at the volume it's nothing to get worries or excited about. Why can you say "they have no intention of ever having the ceremony to sign off"? Any evidence?

[ultra capital] 17/10/2017 10:27

Seems a lot of sellers today. Maybe realising the government are messing bellzone around and they have no intention of ever having the ceremony to sign off. Back to 1.2p ?

[andinvestor1] 17/10/2017 10:08

Probably sensible - I am long. This situation is very much looking like a binary bet; personally I have faith in the management from their updates and they have been clear that they are expecting a signature.

[ultra capital] 17/10/2017 10:06

Yes although not as many as I first did.

[andinvestor1] 17/10/2017 09:52

No signature yet - I suspect that they will have the meeting this week and then announce. Obviously they could also announce that no signature has been possible. Ultra are you able to disclose if you still have your short open?

[ultra capital] 17/10/2017 09:47

No agreement ?

[rascotrading] 16/10/2017 08:05

Thanks Fund1

[fund1] 16/10/2017 07:44

BZM have a target of first half of 2019 to start production but obviously we need to get the signing out of the way so a proper time scale can be set out. I am sure once signing happens a new BFS will be done then a proper timescale will be set out. I am sure if the Chinese buy the rest of Simandou it will be a positive thing as they will no doubt put most of the work and cost in completing Rail and road links to the coast which will benefit BZM as they will have to pass Kalia with roads and Rail. But if not Bzm will no doubt develop a road link to the coast as its a lot closer than Simandou.