You'd have to be crazy to invest in Bellzone now - avoid like the plague!

A few weeks ago I covered the fact that Bellzone Mining (BZM) looked to be in serious trouble, and following recent developments it looks in an even worse state now. This share has been a recent favourite of the pump and dump crews, as the uncertainty over its future has caused the share price to be incredibly volatile and no doubt some will have made money from these daily fluctuations. But what really amazes me is that so many PIs seem willing to buy into a share which already had a very high chance of failure, and even more so now.

Things look very bleak for Bellzone Mining

It never ceases to amaze me how much of a gamble some PIs will take with their money, even when the company itself has warned that it is in real trouble and it is almost impossible to see a way out of a bad situation which would result in a higher share price.

Fake news and a Twitter pump precede Bellzone Mining placing - pure coincidence of course!

Anyone who follows the world of AIM on bulletin boards and Twitter will have noticed a lot of sudden excitement in Bellzone Mining (BZM) yesterday, with the share price rocketing and closing at around 0.9p, but unfortunately some were posting false news. Was that deliberate market abuse?

Bellzone Mining equity is all but worthless - do you know about the China crooks?

Bellzone Mining (BZM) was floated by Canaccord in 2010 (on April Fool’s day as it happens). It raised £30 million at 35p to fund the development of an iron ore project in Guinea, West Africa, the baby of Aussie entrepreneur Nikolajs Zuks, valuing the company at £184 million. Seven years on the company is still in the feasibility stage, having spent $336 million of shareholders’ money and, with the share count having more than tripled, the market cap is £33 million.

Drowning in debt Bellzone (#BZM) gets even more debt from the Chinese - bellends

SP Angel Morning Mining Note; African Potash, Berkeley Energy & Bellzone Mining

John Meyer of SP Angel this morning comments on African Potash (AFPO), Berkeley Energy (BKY) & Bellzone Mining (BZM) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

Bellzone Mining – How Management Has raped shareholders

The management of Bellzone Mining (BZM), a company henceforth known as Bellend Mining, has put its own interests ahead of those of shareholders. It continues to do so. And it is not telling investors everything. Oh No. What follows is more nauseating than Tony Blair explaining how he brought peace to Iraq.

Bellzone Mining; a wipe out beckons

Last week, Bellzone Mining (BZM) featured on my list of AIM companies which might be at risk from the Ebola outbreak. I warned that any companies operating in the Ebola-stricken countries of Sierra Leone, Liberia and Guinea, which had question marks over their funding, were probably stocks to avoid, or at least scale back on. Operating in Guinea, Bellzone definitely fell into this category and this morning the company announced a possible emergency funding facility, which it seems probable will result in it giving up its flagship Kalia Mine. Bellzone urgently needs to find a new backer, but given that its primary income stream derives from the depressed iron ore market this doesn’t seem likely. The writing is now officially on the wall and I’d be amazed if Bellzone remains as a listed company beyond the end of this year.

Placement Watch; Bellzone Mining – pumped & dumped

I definitely don’t blame the directors of Bellzone Mining (BZM) for the blatant pump and dump of their stock over the last week or so. To their credit, this board has been entirely forthcoming with the market about their need for finance and timetable for securing it. Anyone who bought into the sudden and unexplained enthusiasm for Bellzone’s stock on May 27^th and May 28^th was probably asking for trouble, as it was clear a discounted placement was imminent. Even so, this is yet another example of why shares on AIM should be suspended as soon as the company concerned starts the process of raising money.

Buy Bellzone Mining (BZM): Positive Last Minute Reversal

Although the impression may be given that on ShareProphets there is a certain lust for calling stocks to the downside, the situation at Bellzone Mining not only how false this impression is, but actually an innate bias to bullishness, which is appropriate against a backdrop of the stock market’s return towards its all-time highs.

Bellzone Mining: Good News & Hot sector but are the shares ahead of themselves?

Suddenly the price of Iron ore has picked up, spurred by a recovery in Chinese Demand. Iron ore stocks have responded with a number showing sharp gains in the past month. Among the winners is Anglesey Mining (AYM) but also Bellzone (BZM) which has assisted its cause with news on both of its projects in the West African country of Guinea. The Bellzone share price has pushed ahead by 3p to 16p over the past month valuing the company at £117 million but some brokers reckon that it could still double from mere. There is a bear case as well as a bull case.