(BHR.L) Beacon Hill Resources PLC Buy/Sell

RNS Number : 7763I Beacon Hill Resources plc 18 March 2010

Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining

18 March 2010

Beacon Hill Resources Plc ('Beacon Hill' or 'the Group')

Update on Arthur River Project

Beacon Hill Resources plc (AIM:BHR), the AIM listed resource company, is pleased to provide an update with regard to the development of its Arthur River magnesite project in north-west Tasmania, which has a current JORC-compliant measured and inferred resource of 39 million tonnes of magnesite.

Mining Lease Application

As previously announced on 16 February 2010, a further hearing of the Mining Tribunal, in connection with the Group's Mining Lease Application, took place yesterday. An application by the objector to amend the name of the objector was dismissed together with arguments made by the intended new objector that they had 'standing' to make an objection. The Group has made an application to dismiss the objection as it remains, and the Tribunal has adjourned the hearing of that application for a further week until 24 March 2010, to allow the existing objector to make any further submissions he wishes concerning his standing.

In the meantime, the Group continues to work to a timetable that will see production at the Arthur River Project commencing by the end of 2011. Whilst the hearing before the Tribunal may result in a delay in the grant of a Mining Lease until the second quarter of 2010, the Group is progressing with development the DPEMP, to ensure it is completed by the end of 2010.

Development Proposal and Environmental Management Plan ('DPEMP')

The Group continues to make good progress with the development of its DPEMP for the Arthur River Project. An initial hydrological study has been completed by Coffey Mining with no adverse findings. In addition, work on Flora and Fauna studies have commenced and expect to report back soon.

Justin Lewis, Executive Chairman said, "The Board is pleased as we continue to make good progress at the Arthur River Project, despite the delays in being granted a Mining Lease. We remain confident that the permitting process will result in a positive decision by the Tribunal."

RNS Number : 4253I Beacon Hill Resources plc 11 March 2010

Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining

11 March 2010

Beacon Hill Resources Plc ('Beacon Hill' or 'the Company')

Placing

Beacon Hill Resources Plc, the AIM listed resource company, is pleased to announce that it has placed 125,000,000 new ordinary shares of 0.01 pence each at a price of 0.265 pence per share ('Placing Shares'). The Placing Shares have been subscribed for by Fortrend Securities Pty Limited ('Fortrend') pursuant to its agreement with Beacon Hill as previously announced on 2 March 2010. In addition, the Company has granted Fortrend options over 31,250,000 ordinary shares exercisable at 0.294p per share for a period of 3 years. The proceeds of the placing will be used to for general working capital.

Following their admission, the Placing Shares will represent 1.9 per cent. of the enlarged issued share capital of the Company, which will then comprise 6,464,667,000 ordinary shares of 0.01 pence each.

The Placing is inter alia conditional on admission of the Placing Shares being admitted trading on AIM ('Admission'). It is expected that Admission will occur, and dealings in the Placing Shares will commence, on 16 March 2010. The Placing Shares will, when issued, rank pari passu in all respects with the existing issued shares of Beacon Hill, including the right to receive any dividends and other distributions declared following Admission.

RNS Number : 8971H Beacon Hill Resources plc 02 March 2010

Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining

2 March 2010

Beacon Hill Resources plc ('Beacon Hill' or 'the Group')

Update on Progress Made Towards Acquisition of Minas Moatize LDA

Beacon Hill Resources Plc, the AIM listed resource company, is pleased to announce an update on the significant progress made towards its proposed acquisition of Minas Moatize LDA ('Minas') ('the Acquisition') in partnership with Consolidated Resources & Mining (Pty) Ltd, as previously announced on 8 January 2010. Minas owns an operating coal mine in the Tete Province of Mozambique, which has a proven and measured resource of 33 million tonnes of thermal coal and its acquisition would be in line with Beacon Hill's strategy of acquiring and developing resource assets relating to the steel production industry.

Overview

· Excellent progress made towards satisfying the due diligence and legal documentation requirements relating to the Acquisition;

· Appointment of key consultants, including Peter Wilson of Mineral Management Pty Limited - facilitating the rapid development programme of the asset following the Acquisition;

· Finalisation of feasibility study to create a large open pit mine producing 4 million tonnes per annum of run of mine ('ROM') coal (c. 0.7-1mtpa of coking coal and 1mtpa of thermal coal);
· Receipt of tests of the coal which demonstrate that the mine can produce a high quality coking coal; and

· Discussions with a view to entering into long term off-take agreements.

Beacon Hill Executive Chairman Justin Lewis said, "We have made excellent progress towards formally acquiring Minas, which is, I believe, a transformational deal for the Group. Minas would provide Beacon Hill with exposure to one of the world's largest undeveloped coking coal regions and has the potential to be a highly profitable project for Beacon Hill - particularly when considering the current coal price.

"Once the Acquisition has been completed, Beacon Hill will, together with our partners, initiate a defined development plan in order to maximise the full potential of this significant coal asset and generate significant near-term cash flow from the current operating mine. With a positive conclusion of this transaction in mind, we are already in discussions with potential off-take partners, which I hope to be able to update shareholders in the near future."

Development Plan

Positive progress is being made with the potential acquisition of a 33 million tonne coal asset (proven and measured status) in a globally significant coking coal region, the Tete province of northern Mozambique; other companies operating in the area include Vale, Riversdale and CAMEC. Minas currently operates the only operational coal mine the region, with a small underground mine producing thermal coal for domestic consumption.

The Group intends to develop the resource into a larger open pit operation, for which Government and environmental approval has already been granted, to produce both coking and thermal coal for export markets. The Group has developed a plan which will see the mining 4mtpa ROM coal, producing between 0.75 and 1.0mtpa of coking coal and in excess of 1mtpa of thermal coal for both export and domestic markets. Further to this, tests conducted on the coal by ARCIL Limited for the Group have shown very attractive coking coal properties and the Group is currently in advanced discussions with potential customers, with a view to entering into long term off-take agreements.

The Group, with its partners, are in discussions regarding logistics and confident of securing access to the recently refurbished railway and use of a new port facility, which is a key factor in the successful development of this project.

Due Diligence

SRK Consulting in South Africa has been appointed to report on the resource and development plan, focussing on upgrading the resource in tandem with the development of the mine in order to maximise the value of the asset.

Peter Wilson of Mineral Management Pty Limited has been working with the Group in a consultancy capacity. He brings with him 30 years of coal mining experience and has most recently worked for a major Indian steel and power group.

Timetable

The Acquisition is expected to be completed prior to the end of June 2010, subject to execution of purchase agreements, the completion of due diligence requirements and necessary financing arrangements, all of which are now well advanced. The Group will keep shareholders updated to developments of the Acquisition in due course.

RNS Number : 8968H Beacon Hill Resources plc 02 March 2010

Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining

2 March 2010

Beacon Hill Resources plc ('Beacon Hill' or 'the Group')

£5 million Strategic Investment Secured

Beacon Hill Resources plc, the AIM listed resource company, is pleased to announce that it has entered into an agreement with Fortrend Securities Pty Ltd ('Fortrend') for the provision of up to £5 million of funding. The agreement will enable Beacon Hill to draw down funds over the next three years which will provide the Group with additional capital to develop its Arthur River Project in Tasmania and facilitate the appraisal and development of other projects that meet the investment criteria of the Group.

Beacon Hill Executive Chairman Justin Lewis said, "We are very pleased to have secured this significant commitment from Fortrend as this will provide the Group with additional capital to commit to existing and future projects, as we look to execute our strategy of building a robust portfolio of assets in commodities relating to the steel industry. In particular, the capital will allow us to accelerate development of our Arthur River magnesite project, which has a JORC compliant measured and inferred resource of 39 million tonnes, towards production and will also enable the continued evaluation of additional projects.

"The team at Fortrend is well known to us and we look forward to working with them in strengthening our position as a developer and provider of commodities to the steel industry and creating value for all of our investors."

Joe Forster, Managing Director of Fortrend Securities said, "We are pleased to be associated with the executive team at Beacon Hill, and are very excited about the magnesite project in Tasmania, Australia."

Fortrend has agreed to provide up to £5 million to the Group to be invested, at any time over the next three years, at Beacon Hill's discretion, by the issue of new shares to Fortrend. The Group has agreed to make three draw downs in the next 12 months, but is otherwise under no obligation to issue shares. Under the agreement, Beacon Hill can issue new ordinary shares at a 10 per cent. discount to the prevailing market price, with the maximum amount of each drawdown being a function of the recent trading volume at that time. For every four shares so issued, Beacon Hill will grant one option exercisable at the then prevailing market price for a period of three years from grant.

In consideration of Fortrend entering into the agreement, Beacon Hill will pay a fee and has granted options over 20,833,333 ordinary shares, exercisable at 0.30p per share at any time until 2 March 2013.