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BEN Bens Creek Group Plc

0.175
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Bens Creek Group Plc BEN London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 0.175 01:00:00
Open Price Low Price High Price Close Price Previous Close
0.175 0.175
more quote information »
Industry Sector
MINING

Bens Creek BEN Dividends History

No dividends issued between 20 May 2014 and 20 May 2024

Top Dividend Posts

Top Posts
Posted at 16/4/2024 16:53 by seagreen
Ben, the two of us need look no more
We both found what we were looking for
With a friend to call my own
I'll never be alone
And you, my friend, will see
You've got a friend in me
(You've got a friend in me)
Ben, you're always running here and there (here and there)
You feel you're not wanted anywhere (anywhere)
If you ever look behind
And don't like what you find
There's something you should know
You've got a place to go
(You've got a place to go)
I used to say "I" and "me"
Now it's "us", now it's "we"
(I used to say "I" and "me")
(Now it's "us", now it's "we")
Ben, most people would turn you away (turn you away)
I don't listen to a word they say (a word they say)
They don't see you as I do
I wish they would try to
I'm sure they'd think again
If they had a friend like Ben
Like Ben
(Like Ben)
Like Ben
Posted at 12/4/2024 17:10 by papillon
I'd never heard of Storey before, or since! But that RNS certainly caused him to panic and sell! For all I know Storey may be an idiot. I base my investment decisions, rightly, or wrongly, solely on my charts.
Of course the Met Coal price peaking in late spring at around $440 and subsequent decline, John henry, contributed to BEN's downfall, but purchaseatthetop reckoned that the Met Coal decline was not the major reason for the BEN sp's descent towards zero. purchaseatthetop reckoned that the sole use of HWM equipment was uneconomic even with a Met Coal price above $400, especially since BEN weren't getting anywhere near that price. I've no knowledge of coal mining so I have no idea whether that's right, or wrong.
I did post a chart showing the Strongly Bearish "Death Cross" on the BEN chart in early summer of 2022.
Posted at 02/4/2024 20:24 by papillon
I hope Penstocks decided to dump his BEN shares when the share price was higher than 10p. He'd have made a big loss, but he wouldn't have lost everything which is what will happen to those who still hold.
Penstocks was wrong and purchaseatthetop was correct.
I know nothing about mining, but when my BEN chart went Strongly Bearish in early summer 2022 and the Met Coal price peaked I guessed BEN might have a problematic future. BEN is ATC Mk2.
Posted at 15/3/2024 20:08 by bad gateway
You maybe right but I thought that avani were only paying spot not over and their agreement is to be paid a royalty from net sales price achieved by BEN at the mine itself..

"Repayment of the WCF will be in tranches based on a royalty from coal sales made by Bens Creek Operations during the term of the WCF. The repayment amount will be the excess of $120 short ton for coal sales achieved by BCO from the mine during the term of the WCF, to any seller, including the Lender. The amount shall be paid within 3 working days of the date when the coal is dispatched from the mine which is when Bens Creek Operations receives final payment for the coal"

In the audioboom interview BEN were quite clear that in the Summer when met collapsed to $191/metric tonnes they only received c.$100/short tonne at the mine and were lossmaking.
If they're again around $20 below the $120 net stipulated in their agreement then aren't they going to be in default as well as in loss?

No's start around 1min 40 secs odd.
Posted at 16/2/2024 22:32 by papillon
papillon 18 Jul '22 - 13:14 - 5854 of 11158 Edit
0 2 0
Hi seagreen. I only follow the BEN share price and chart because I held shares in a Canadian Met coal miner/developer, WTN, for years. I know nothing about BEN apart from the share price and the chart and obviously what I read on this bb, but the fact is the BEN share price is currently very weak and the BEN chart is very bearish. There must be a reason for that and I don't believe PATT's negative comments are the reason.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The above is a post of mine from the summer of 2022. Proof that the BEN share price and the Bearish BEN chart was all you needed to know about BEN back then
Posted at 10/2/2024 14:55 by papillon
If one looks back at the early posts on this thread at the time of the BEN IPO it can be seen that the IPO Mkt Cap was £48m. This thread was then populated almost entirely by very, very, bullish posters. The Met Coal price was $314 and on a rising trend. Bullish posters were predicting that the company could soon be earning more than it's Mkt Cap based on the bullish production figures being issued by the company prior to IPO and in interviews (undoubtedly paid for) with Zak Mir and Proactive.
The combination of uber bullish posters, optimistic company production forecasts on social media, a high and rising Met Coal price, plus an apparently very attractive IPO valuation attracted PI's in droves and set the BEN share price started on it's rapid rise aided and abetted by the rise in the Met Coal price, which peaked at $440. During this time PI over optimism led the BEN share price to 10 bag. However reality dawned. The BEN share price was very overbought. The Met Coal price started it's rapid decline and the company's production forecasts were shown to be very over optimistic. The BEN chart turned Strongly Bearish after being Strongly Bullish for about 6 months following the IPO. Then the share price crashed as large trader Storey offloaded.
BEN was doomed. It's vastly over optimistic production forecasts plus the Met Coal price returning to a more realistic level meant the writing was on the wall for BEN. This was and still is reflected in the Strongly Bearish BEN chart. I don't like making predictions, but I believe BEN is doomed and current shareholders will lose everything.
Posted at 09/2/2024 18:44 by purchaseatthetop
Let’s remember my first post on BEN snd seagreens first counter answer…..

purchaseatthetop7 Mar '22 - 14:41 - 2365 of 11082 Edit
0 5 0
I know that Zak is a well respected analyst (maybe not!) but this is what my research revealed this weekend. I sat down to try to see what BEN was and if it was worth investing. You will not like my findings but here they are anyway:

MBU Capital Group Ltd was incorporated on 15/5/20 with one Director: Mohammed Iqbal. Mr Iqbal has an "interesting" Companies House history with struck off companies, liquidations, and some law cases. All civil and part of slightly edgy behaviour I am sure.

Mr Iqbal is without any doubt very bright. He saw an opportunity.

In January 2021 MBU Capital bought Bens Creek Carbon Mine:



This was an old worked mine that had gone bankrupt and was owned by the repossessing bank. Included mining licence and the unused old and rusting wash plant and equipment. No idea of the price but maybe $3m for the lot. Nobody wanted such a loss maker. But Mr Iqbal is very very bright.

Mr Iqbal created Bens Creek (BEN) and there were 350,000,000 shares of which he kept 280,000,000. The other 70,000,000 were on AIM on 19/10/21.

Clever Mr Iqbal got BEN to buy the old rusting mining equipment off MBU Capital for $10m thereby repaying his funds he paid the USA bank for the whole thing and also leaving a profit:

RNS 25/2/22:"Bens Creek has now completed all the necessary remedial works required on its preparation and wash plant. This work is in line with the Company's stated intentions to repair and upgrade its coal preparation and wash plant, originally acquired at a fair value of US$10 million."


RNS 21/10/21 "Our primary objective remains to move the first underground mine into production by the end of Q4 2021 and following our listing on AIM, we are deploying certain of the net proceeds of our placing in pursuit of this work programme and to ensure the necessary steps are taken towards meeting this primary objective for the benefit of all shareholders."

Why would the RNS specify "underground production"? Why those words. Especially as BEN have bought/leased Highwall Miners that can only be used on Open Pit mines? I look at the small details and this jumps out. All the PIs have looked at the Highwall Miners and have started thinking 40,000 tonnes per month. Possible with the Highwall Miners but these mines are small narrow wet old school West Virginia mines, not open field cuts. These cannot be used underground.

RNS 17/1/22 "The initial agreed volume with Integrity is to deliver the equivalent of 8,840 clean tons of Hi Vol B coal. Payment for this initial delivery is expected to be made over the course of the next ten days". S

So...8,840 tonnes to be delivered and paid for.

RNS 31/1/22 ""We are delighted to have received part payment for our first coal sales in accordance with the anticipated quality of our product and within the timelines previously announced."

So..part payment. So not all the 8,840 tonnes was delivered. Of course not because they cannot mine with the Highwall Miners.

I am afraid to say that I think this share is a well organised and legal fleecing of PI's. Just my view.

Modeller posted a day or two ago that the management team has forgotten more than I have ever known about mining. Lets hope so.

You see this has happened before. Adam Wilson, the BEN CEO was CEO of Atlantic Coal on AIM (ATC in 2015). They were equally bullish about the future:



Of course it was dissolved 29/10/20 after losing all the PI money:



Be very very careful. Please.

Final point. MBU Capital Group has registered a fixed and floating charge for money borrowed from Blustar Global Capital on 2/2/2022. You can see it on Companies House. For those who do not know this is a massive red flag. If the payments go into default then the shares in BEN owned by MBU Capital Group can be sold by Blustar and you would never know. Been done before.

Good luck and this is just my opinion.
seagreen7 Mar '22 - 15:29 - 2366 of 11082
0 0 0
ADVFN specialises in magically people appearing who have just undertaken their own research incase they might like to invest...............

They ignore the level of due dillligence required by two sets of approved Nomads in a reverse take over as required by AIM regulation
...............

They ignore the fact that the NOMADS of the company having the asset reversed into carry out a full suitability check into the history and Directors of that company..........

They ignore the fact that the new set of NOMADS have to carry out a full due diligence exercise on the proposed new board and all their Directors and former associations with companies and associates as well as a second due dilligence of the company being reversed into..............................

They ignore the fact that the new NOMADS have to request an independent CPR on the proposed asset and can not rely on the initial CPR presented by the new board..............

They ignore the fact that AIM regulation loath RTO's and all NOMADS double and tripple check everything and seek advice from AIM Regulation where possible as it is their NOMAD licence at risk......

They ignore recent fund raisings..............

But hey WTFDIK.............
Posted at 06/12/2023 18:24 by purchaseatthetop
A week late on 14/3/22 they RNSd

Bens Creek (AIM:BEN), the owner of a recently re-opened metallurgical coal mine in North America supplying the steel industry, announces that it has become aware that the Company's largest shareholder, MBU Capital Group Limited ("MBU Capital"), had entered into a debenture ("Debenture") with Bluestar Global Capital Limited ("Bluestar") on 24 January 2022, which was filed at Companies House on 2 February 2022. Pursuant to the terms of the Debenture, assets belonging to MBU Capital were pledged as security, which included MBU Capital's entire shareholding in Bens Creek.


The Company and its Directors had no knowledge of the Debenture. The entire shareholding of MBU Capital in Bens Creek is subject to a Rule 7 lock-in until the first anniversary of the Company's admission to AIM, details of which can be found in the Company's admission document published on 13 October 2021.

Two points.
1) it was me who first identified this snd let you know a week before it became public knowledge. The first of five, yes five, RNSs that I forced out of BEN
2) this weasel statement saying “The company and its directors had no knowledge of the debenture” was laughable. Raju Haldarkar was the CFO of both MBU and BEN!!!
Posted at 06/12/2023 17:34 by purchaseatthetop
Seagreen asks why anybody should believe a word I post?

I refer you to my first post here on BEN when it was 85p odd….

Purchaseatthetop7 Mar '22 - 14:41 - 2365 of 10801 Edit
0 5 0
I know that Zak is a well respected analyst (maybe not!) but this is what my research revealed this weekend. I sat down to try to see what BEN was and if it was worth investing. You will not like my findings but here they are anyway:

MBU Capital Group Ltd was incorporated on 15/5/20 with one Director: Mohammed Iqbal. Mr Iqbal has an "interesting" Companies House history with struck off companies, liquidations, and some law cases. All civil and part of slightly edgy behaviour I am sure.

Mr Iqbal is without any doubt very bright. He saw an opportunity.

In January 2021 MBU Capital bought Bens Creek Carbon Mine:



This was an old worked mine that had gone bankrupt and was owned by the repossessing bank. Included mining licence and the unused old and rusting wash plant and equipment. No idea of the price but maybe $3m for the lot. Nobody wanted such a loss maker. But Mr Iqbal is very very bright.

Mr Iqbal created Bens Creek (BEN) and there were 350,000,000 shares of which he kept 280,000,000. The other 70,000,000 were on AIM on 19/10/21.

Clever Mr Iqbal got BEN to buy the old rusting mining equipment off MBU Capital for $10m thereby repaying his funds he paid the USA bank for the whole thing and also leaving a profit:

RNS 25/2/22:"Bens Creek has now completed all the necessary remedial works required on its preparation and wash plant. This work is in line with the Company's stated intentions to repair and upgrade its coal preparation and wash plant, originally acquired at a fair value of US$10 million."


RNS 21/10/21 "Our primary objective remains to move the first underground mine into production by the end of Q4 2021 and following our listing on AIM, we are deploying certain of the net proceeds of our placing in pursuit of this work programme and to ensure the necessary steps are taken towards meeting this primary objective for the benefit of all shareholders."

Why would the RNS specify "underground production"? Why those words. Especially as BEN have bought/leased Highwall Miners that can only be used on Open Pit mines? I look at the small details and this jumps out. All the PIs have looked at the Highwall Miners and have started thinking 40,000 tonnes per month. Possible with the Highwall Miners but these mines are small narrow wet old school West Virginia mines, not open field cuts. These cannot be used underground.

RNS 17/1/22 "The initial agreed volume with Integrity is to deliver the equivalent of 8,840 clean tons of Hi Vol B coal. Payment for this initial delivery is expected to be made over the course of the next ten days". S

So...8,840 tonnes to be delivered and paid for.

RNS 31/1/22 ""We are delighted to have received part payment for our first coal sales in accordance with the anticipated quality of our product and within the timelines previously announced."

So..part payment. So not all the 8,840 tonnes was delivered. Of course not because they cannot mine with the Highwall Miners.

I am afraid to say that I think this share is a well organised and legal fleecing of PI's. Just my view.

Modeller posted a day or two ago that the management team has forgotten more than I have ever known about mining. Lets hope so.

You see this has happened before. Adam Wilson, the BEN CEO was CEO of Atlantic Coal on AIM (ATC in 2015). They were equally bullish about the future:



Of course it was dissolved 29/10/20 after losing all the PI money:



Be very very careful. Please.

Final point. MBU Capital Group has registered a fixed and floating charge for money borrowed from Blustar Global Capital on 2/2/2022. You can see it on Companies House. For those who do not know this is a massive red flag. If the payments go into default then the shares in BEN owned by MBU Capital Group can be sold by Blustar and you would never know. Been done before.

Good luck and this is just my opinion.
Posted at 11/10/2023 16:09 by purchaseatthetop
I wonder what Avani really want from BEN and why they have a 29.9% shareholding. I don't think it is because they rate the management. But why?

2/5/23 RNS: "In addition Avani has undertaken in the Avani Relationship Agreement that transactions between the Company and Avani shall be in the best interests of the Company and at arm's length and on normal commercial terms."

So, Avani will be buying coal from BEN for export to India etc. The price for export coal to India is about $65 a ton less than the Platts headline price so the returns for BEN will be very low. At 31/3/23 BEN already had a stock of 57k clean tons of coal (they kept that number off the accounts) and that would have risen much further since unless they have been selling to Avani because I think Integrity would only have their offtake two trains a month.

26/6/23 RNS: "The Company also announces that the Group has raised $6,500,000 (equivalent to c. £5,110,000 based on current exchanges rates) through Bens Creek Operations LLC ("Bens Creek Operations"), a 100% owned subsidiary of the Company, issuing unsecured loan notes (the "Loan Notes" or the "Notes") to Avani Resources Pte Ltd (the "Lender" or "Avani "), the Company's largest shareholder."

7/7/23 RNS: "On 7 July 2023 Bens Creek entered into an unsecured loan note agreement with the Avani for a total subscription of $6.5 million of Loan Notes. The Loan Notes have a term of 18 months and interest will roll up and be repaid as a bullet at the maturity of the Loan Note (the "Repayment Date")." and "Bens Creek Operations LLC, a 100% owned subsidiary of the Company, unconditionally and irrevocably guarantees to the Lender the punctual payment to them by the Company of all monies payable under the provisions of the Loan Notes"

Therefore Avani have all the assets of BEN and the permits etc secured on these loans.

What I think they are planning is to suck as much really cheap coal out of BEN for the next 18 months meaning that when the loans cannot be repaid in 18 months time they have a lien on everything and can leave PIs high and dry. it has certainly been set up to make that possible.

I just throw these ideas out here because the RNSs make me imagine what Adam and Co are really thinking. It seems extreme and highly unlikely. Until it happens. Every time.

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