Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
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