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Coal miner seeks payment from Blumont
Resource Generation says A$22.6m payment for 15% stake not received on due date
http://www.businesstimes.com.sg/premium/companies/others/coal-miner-seeks-payment-blumont-20131206
2013-12-06 16:25
Does anyone knows what will happen when it gets $0.01? This counter will get unlisted from SGX?
2013-12-06 21:04
U mean delist? me guarantee u wouldn't. Still can trade 0.009 to all the way 0.001
2013-12-06 21:33
Please advise where u get the info from? How much is the buying price? I don't think he has the money to buy 135m shares even he managed to negotiate for $0.05 a share, that mean he needs to pay $6,750,000.
2013-12-10 21:56
Alex has the means to buy Bluemont
That means he shd have the means to buy Bluemont not just a falsefront as many have predicted
Looks like Alex has his interests in Celsius Coal: http://www.asx.com.au/asxpdf/20131212/pdf/42ll0s85bxwjnb.pdf
2013-12-12 23:31
UPDATE ON DISPUTE WITH PROSPECT RESOURCES LIMITED
http://infopub.sgx.com/FileOpen/BGL_PSC_13122013.ashx?App=Announcement&FileID=267732
2013-12-13 19:32
No did not buy at the bottom,,wanted to catch hesistated it went upwards.Ytday bought 500lots at $0.099..Hope Bluemont has already bottomed and now shd move higher..break thru resistance,,,was thinking how much can lose at the price I bought since bank's interest $50k not even $2 per month..hope 2nd time lucky with this purchase and all best wishes for those vested here.
http://www.flickr.com/photos/caricature/11305217063/
2013-12-13 23:19
Made first round buy during designated period and sold on Oct 21 after the lifting..recently Bluemont hit a low of $0.056 bought went in at a high $0.099 as I trust Alex the incoming CEO see his credentials
Do you know Alex personally to vouch for his abilities and credibility?
As far as his track record shows, this guy has no credibility. He has a seriously tarnished reputation. Known to many as a scum.
..See Alex's record..I believe Bluemont has bottomed bouncing from$0.056 recently..I bought as I think Alex has his records and credentials to prove his mettle
That Angmoh you speaks of, not your average ang moh.
That Angmoh was once a:
Hold an Econ degree => Not only an economic person but also an economist. Sure he got the tools and knowledge to do a proper valuation on any investment. But whether his valuation is correct or not is another issue.
Head of Metal and mining in Citibank for 10 years => No capability can climb up and hold on to that seat for 10 years?
One of the highest paid CEO in Canada in 2010=> Reinforced his ability, not capable who want to hire with such salary?
His previous firm, SouthGobi Resources grew 60+% in 2010 => > > Good growth but might be due to local government support
Currently holding leadership position in 3 other firms, besides Blumont. 2 out of 3 of these firms are listed firms. ==> > > Say something about his credibility. Listed firms always avoid having dubious character on their board, as doing so would depress their share price.
Age: 38 only===> > > Still a long way to go. If he decided to cheat now, he is destorying his own career prospect.
His current stake in Blumont only 1.3millions====> > > His previous annual pay from SouthGlobi is more than 3millions=> > > > He need to resort to con and destory his own career prospect just to save his stake in Blumont, which is equivalent to only half his annual salary? Worth it?
chensing is online now Report Post
2013-12-15 13:28
ang Moh says blumont in big danger, he's no lawyer don't know how to solve blumont legal woes, walked away best for him why get bogged down
2013-12-15 15:45
Citibank trained their ppl not to waste time on bad prospect and ang moh will follow ctibank training
2013-12-15 15:46
DEED OF SETTLEMENT WITH RESOURCE GENERATION LIMITED
http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=1025839&fileId=Deed_of_Settlement_181213_Announcement.pdf
2013-12-18 10:38
US$30,000,000 LOAN FACILITY FROM WINTERCREST ADVISORS LLC
http://sgx.i3investor.com/servlets/anpth/137050.jsp
2013-12-26 11:03
USD30mil loan.... for investments and working capital, can be good news also bad news. Foresee high gearing ratio, unless a profitable investment.
2013-12-26 12:16
What happen in 2013
2013年最资深有经验美丽的企业公主
http://aseantradinglink.blogspot.com/2014/01/what-happen-in-2013.html
2014-01-07 22:02
PROPOSED ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL OF HUDSON MINERALS HOLDINGS PTE. LTD. TERMINATION OF THE SALE AND PURCHASE AGREEMENT
http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=1027690&fileId=BGL_TerminationofHMPL_08012014.pdf
2014-01-08 18:11
Don't ever believe the acquisition. Just ask yourself a simple question, where to get the money?
2014-01-09 22:30
Everything goes up will come down, likewise, everything goes down will come up. Hold on guys.
2014-01-09 23:40
Looks like Bluemont not really desperate for cash....can channel money meant from working capital for capital expansion
BLUMONT GROUP LTD.
(Company Registration No. 199302554G)
(Incorporated in the Republic of Singapore)
USE OF NET PROCEEDS FROM THE RIGHTS ISSUE 2013
Unless otherwise defined, all terms used in this announcement shall bear the same meanings
ascribed to them in the announcement by the Company dated 29 July 2013 (the ?Rights Issue 2013
Announcement?) on the proposed renounceable non-underwritten rights issue of up to 861,002,293
new ordinary shares in the capital of the Company (the ?Rights Issue 2013?) and the announcements
by the Company dated 25 October and 7 November 2013 (the ?Previous Announcements?) on the
use of the Net Proceeds (as defined below).
1. UPDATE ON USE OF THE NET PROCEEDS
The Board of Directors of Blumont Group Ltd. (博 诺 有 限 公 司 ) (the ?Company?, and together
with its subsidiaries, the ?Group?) refers to the Rights Issue 2013 completed on 21 October
2013, which raised net proceeds of approximately S$42.67 million (the ?Net Proceeds?) (after
deducting expenses of approximately S$380,000).
Further to the Previous Announcements, the Company wishes to announce that the Net
Proceeds have been further utilised as follows:
(a) approximately S$7.65 million for the business expansion of the Group (equivalent to
approximately 17.9% of the Net Proceeds), comprising:
(i) S$0.60 million for completion of the fifth tranche of subscription of shares in Cokal
Limited, as announced on 20 November 2013
(ii) S$0.63 million advanced to Cokal Limited under a loan facility of up to US$8.00
million, as announced on 5 November 2013
(iii) S$0.58 million drawn down by Celsius Coal Limited under the Convertible Note
Deed, as announced on 7 February 2013
(iv) S$0.26 million drawn down by Azarga Resources Limited under the Azarga
Facility, as announced on 28 August 2013
(v) S$1.14 million advanced to Resource Generation Limited (?RES?) as part payment
of the AUD$2.50 million advance payment under the deed of settlement dated 18
December 2013 in relation to the subscription of shares in RES by the Company,
as announced on 18 December 2013 and
(vi) S$4.44 million for the repayment of an interest-free director?s loan which was
utilised as follows:
1. (A) S$1.24 million for the subscription of shares in Cokal Limited (B) S$0.45
million for the subscription of shares in Kidman Resources Limited and (C)
S$1.34 million for the subscription of shares in Discovery Metals Limited, as
announced on 8 July 2013, 13 August 2013 and 19 September 2013
respectively
2. S$0.34 million drawn down by Celsius Coal Limited under the Convertible
Note Deed, as announced on 7 February 2013 and
3. S$1.07 million drawn down by Azarga Resources Limited under the Azarga
Facility and
(b) approximately S$1.11 million for general working capital purposes (equivalent to
approximately 2.6% of the Net Proceeds) which was utilised as follows:
(i) S$0.26 million for wages and salaries
(ii) S$0.02 million for professional and statutory fees
(iii) S$0.77 million for legal and consultancy fees and
(iv) S$0.06 million for rental fees and general administration.
2. CHANGE IN STATED USE OF THE NET PROCEEDS
The percentage allocation of the Net Proceeds has changed from that disclosed in the Rights
Issue 2013 Announcement. The Net Proceeds were to be used for the following purposes:
(a) 80% of the Net Proceeds to fund the Company?s business expansion through, inter alia,
acquisitions, investments, joint ventures and/or other collaborations and
(b) 20% of the Net Proceeds for general working capital purposes.
As the Company has and is expected to have sufficient cash or funds from operations to meet
its existing and future general working capital requirements the Company has re-allocated
S$6.73 million previously allocated for general working capital purposes for use in the business
expansion of the Group.
3. CUMULATIVE USE OF THE NET PROCEEDS
The Company has now fully utilised the Net Proceeds. The cumulative percentage breakdown
of the use of the Net Proceeds is as follows:
Use of Net Proceeds
Cumulative amount utilised
as at 10 January 2014
As a percentage of
the Net Proceeds
Business expansion of the Group S$40.87 million 95.8%
General working capital purposes S$1.80 million 4.2%
Total S$42.67 million 100%
By Order of the Board
BLUMONT GROUP LTD.
James Hong Gee Ho
Executive Director
10 January 2014
2014-01-10 23:12
If Blumont were cash rich, why need to sell IPCO's shares even at a very low price?
2014-01-11 21:13
They sold Innopac recently...still at profit to them..not Ipco..portoflio adjustment
2014-01-14 16:05
Blumont makes takeover offer for Genesis Resources, plans to pay by issuing new shares
http://www.straitstimes.com/breaking-news/money/story/blumont-makes-takeover-offer-genesis-resources-plans-pay-issuing-new-share
2014-01-24 09:19
under CAD investigation Ang Moh ran, everyday interview where got time to do business, next time must put interviews in CV also
2014-05-20 20:02
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Why ABL keep on dropping like no ending?
2013-12-05 12:20