Activist investor Elliott Management is appealing to BHP's army of retail shareholders to back its push to overhaul the company.

Elliott has overhauled its "Fixing BHP" website so that it now invites BHP retail shareholders to sign a petition in support of its plans for the mining giant.

Elliott also reportedly has plans for a social media campaign across Australia to inform BHP's retail shareholders. Retail shareholders make up a significant portion of the Australian share register.

The website revamp is another sign that Elliott will continue its vocal push for change at BHP.

The "Fixing BHP" website claims BHP management has destroyed tens of billions of dollars of shareholder value in recent years.

It claims the losses included "$US9 billion ($11 billion) destroyed through share buybacks made at inflated market prices", $US23 billion lost via the "ill-fated foray into US shale", and $US8 billion spent on petroleum exploration "with no apparent value created".

It also says more than $US$850 million in franking credits was "wasted due to an obsolete dual-listed company structure".

The website, which was overhauled in recent days, picks up on BHP's high-profile "Think Big" advertising campaign, which includes television and newspaper advertisements.

"BHP says it wants to 'Think Big' – but in recent years 'Thinking Big' for BHP hasn't worked out for BHP's shareholders," it says.

It also appeals to the investors' hip pocket, saying that $US100 invested in the ASX 200 five years ago would be worth much more today, than $US100 invested in BHP for the same time span.

Elliott's proposals for change at BHP have been partly modified since the investor went public in early April with a range of ideas for change.

Its current position calls for an end to the dual-listed company structure and for a "unified BHP – incorporated, headquartered and listed in Australia", improved returns through dividends, stock buybacks and better capital allocation, an exit from shale and a review of petroleum, and fresh perspectives on the BHP board.

BHP declined to respond on Tuesday to the activist investor's latest move. 

But in April it strongly defended itself against Elliott's criticisms and push for change. BHP management had been "engaged in discussions with Elliott over many months on its proposals", the company said in April.

It also said Elliott's proposals were "not new to BHP Billiton", adding that BHP had "assessed in detail many times" various options to unify the dual-listed company structure and improve its asset portfolio.

BHP chief executive Andrew Mackenzie said at the time that management was "confident we have everything in place to increase returns and significantly grow shareholder value".