Bens Creek Investors - BEN

Bens Creek Investors - BEN

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Stock Name Stock Symbol Market Stock Type
Bens Creek Group Plc BEN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.50 2.06% 24.75 16:01:18
Open Price Low Price High Price Close Price Previous Close
24.50 24.25 26.25 24.75 24.25
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Industry Sector
MINING

Top Investor Posts

Top Posts
Posted at 27/11/2022 05:26 by purchaseatthetop
Question 7.
The Interim Results RNS showed that 64.8k run of mine tons had been produced by 31/3/22. This is equivalent to 32.4k tons clean.
The cost of these tons was $5.3m (cost of sales plus stock value)
Therefore cost per ton was $164 a ton. This excludes any cost of processing the coal to clean it. Clean coal would cost a lot more per ton.
The mining plan on admission calculated a cost per ton of clean coal of $79a ton.
The 29/10/21 contract mining RNS stated that BEN and Megahighwall had agreed a fixed cost per ton mined.
Why, more than a year after admission, do investors have no idea what the cost of mining is and why the limited data shows the cost per ton is sky high despite the supposed fixed cost per ton mined?

Posted at 26/11/2022 07:57 by mr gf duck
> Read the RNS you t watThank you for the compliment Mr Henry. I revisited the RNS to ascertain whether I was due such an esteemed compliment. > This appointment is part of the Company's strategy to increase its institutional profile with investors.I don t think I missed the crux of the announcement. The above statement along with an appointment of a joint broker will in short order lead to a cash raise. Perchance, what does your esteemed wisdom bring to the table on this matter - aside from the compliments?
Posted at 10/11/2022 18:23 by seagreen
By the way just looking through the IPO document Patt I note on page 58 they made it absolutely crystal clear from the start they would need to raise more funds despite what some were bleating



(e) Dilution
The Company will need to raise further capital in the future to be able to achieve its stated goals which could potentially be through public or private equity financings or by raising debt securities convertible into Ordinary Shares, or rights to acquire these securities. Any such issues may exclude pre-emption
rights pertaining to the then outstanding shares. If the Company raises significant amounts of capital by these or other means, it will be likely to cause dilution for the Company’s Existing Shareholders. Moreover, the further issue of Ordinary Shares could have a negative impact on the trading price and increase the volatility of the market price of the Ordinary Shares. The Company may also issue further
Ordinary Shares, or issue share options under the Company’s existing share option plan or any other scheme put in place by the Company, as part of its employee remuneration policy, or issue further Ordinary Shares or warrants over Ordinary Shares to third parties in respect of services provided to the Group, which could in aggregate create a substantial dilution in the value of the Ordinary Shares
and the proportion of the Company’s share capital in which investors are interested

Posted at 08/11/2022 22:59 by sirmark
Mate read the signs the worm has turn sentiment is back… you can either go against the tide or with it. Your choice but what ever you say is irrelevant it’s already turned an will push sharpish back to 40p+ or you can moan talk tosh on bb and watch the boat sail away.

Now is an amazing opportunity for newbie investors and existing holders who want to increase their holdings… but mate your post is weak at best !!!

It’s bottomed and oversold and now will climb to find true value and as it stands is about 40p as it sits… I expect a hell of a lot more but I’m time and with more good news but 25p is and outright bargain! If you can’t see that then investing may not be for you!!

GL All

Posted at 02/11/2022 10:50 by seagreen
Anyway this is boring as you are not going to back down

You know what is wrong with the ENET thread you all rabbit on looking for possible sources of revenues or purchase orders as though everyone understands what you are saying, but non tech investors or tech investors who are not telecom experts and who have not researched the company look at the chart and think well what ever it is it is not working.

I know I am old fashioned but ADVFN was originally set up to help people find undervalued stocks and share info.

Why not work on an unbiased concise idiot's guide that people can understand:

Product,
What it can be used for,
Why the delays in revenue
Why the focus has changed
Futiure revenue streams

(Editor smashing use of a semi colon Seagreen)

Posted at 31/10/2022 10:35 by seagreen
Pinnochio says

Ittman said NS invested in the mine.

Consol Energy says

CONSOL is very excited about reaching this major milestone in the project as the Itmann product diversifies our revenue and product mix and opens new market opportunities around the world. The project is also a major development for the state of West Virginia. "We have invested approximately $100 million in the development of the mine, preparation plant, and surrounding infrastructure. We also have given a boost to the economy of southern West Virginia, creating approximately 175 long-term and high-paying jobs, supporting many businesses in the surrounding area and providing numerous charitable contributions to the local communities through our CONSOL Cares Foundation," said Jimmy Brock, President & CEO. "I'd like to thank our hard-working Itmann team, who enabled us to bring this project to fruition with an aggressive schedule in a challenging supply chain and labor environment, and who we expect will be the backbone of our success at Itmann going forward. We also thank the state of West Virginia for its cooperation and support of this project and our transportation partner, Norfolk Southern Corp., for its additional investment in the area and support of the Itmann project and surrounding communities. We look forward to continuing these relationships for decades to come."

Its a general statement thanking the state of West Virginia and their transport partners for its cooperation and support for additional investment in the srea and surrounding comunities

No speciic mention of investment in the mine infra structure or property beloning to Consol Energy..


ITS QUITE SIMPLE CONSOL ENERGY WENT THROUGH IDENTICAL DELAYS DUE TO COVID/RUSSIA THAT BEN HAS AND THEY ARE STILL SUBJECT TO AND ALL MINING INVESTORS ARE AWARE OF IN THE USA (eg PXC another example)


We all know that there has been a bottleneck and horific delays in the mining indstry

Delays do not equal lies

Simple its been a fact of life since Covid

YOU HAVE NO IDEA WHAT EXACT AMOUNT OF COAL HAS BEEN PRODUCED IN THE SECOND HALF YEAR ENDING SEPTEMBER UNTIL THE YEAR END ACCOUNTS ARE PRODUCED YOU ARE JUST ESTIMATING AND GUESSING.

Simple you are assuming again.


There really is no need to lie everyone knows that delays have occurred and they know they are progressing to the ramp up stage now.

The key investors can see that real progress is and has been made and are happy to wait when full prouction is achieved in a reasonably short period of time and then enjoy the the next five years of significant prouction.

The fact that a US$2Bn coal company has invested over US$100M in low vol coal mine and been delayed years far longer than BEN, who were producing washed high vol coal within in six months and is highly indicitive that BEN have made huge progress despite the delays and there remains ahuge demand for meturlurgical coal


(P.S. I also note although I am not going to pay the pitsburg times for the info, the Itmann mine has been delayed since 2020 due to Covid although some ROM coal was sold whilst the delayed wash plant and infra structure were completed. The whole project is still not completed.

So they had to do exactly what BEN did due to the delays)

Posted at 26/9/2022 17:26 by seagreen
Post 7167 podcast reference........put a fly on the water and wind wind
POst 7167 tangible evidence........lie 26.5 all your evidence has been shown to be deep fake propoaganda and ridled with a basic lack of accountancy understanding

Post 7170 lost.....................no I have lived off the profits I banked I am in for free and a tidy profit and have my 10p IPO shares thanks all the same.

Post 7171..average price..........of the reaining shares I have closer to 15p stop guessing lie 27.5

Post 7172...got my family to invest etc....so not belive everything a scallywag who seeks attention posts.

Pap there is something called a contrary investor who does the opposite of the herd
a chap called Warren Buffett once said that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.”1 This statement is somewhat of a contrarian view on stock markets and relates directly to the price of an asset: when others are greedy, prices typically boil over, and one should be cautious lest they overpay for an asset that subsequently leads to anemic returns. When others are fearful, it may present a good value investment opportunity.

Bit like horses if I fancy a 100/1 shot I have a £2 each way and if its less than 10/1 only a £1 each way its all about risks and rewards and not over trading


This is the way

Posted at 12/9/2022 14:55 by penstocks
PATT I agree with most of that:
Penstock has arrived from LSE to ramp. Excellent. THANKS

The third HWMer contract was supposed to have been signed in July. Nothing. YEP, WAITING ON PERMIT SO 2 MONTHS LATE.
The second HWMer is still broken. YEP & I DON'T REALLY GET WHY IT WASN'T REPAIRED SOONER BUT HOPE IT WILL BE 'REMEDIATED' THIS YEAR TO JUMP ON THE NEW PERMIT AREA OF 299 ACRES IN Q1.
The new permit was supposed to be active from June and then July. Nothing. YEP, PERMIT IS IN THE HANDS OF THE WV GOVT DEP, BUT I AGREE THAT ADAM'S OPTIMISM SHOULD NOT HAVE GIVEN US THAT EARLY DATE. HAVING SPOKEN TO A DEP OFFICIAL IT WILL COME SOONER THAN 12TH OCTOBER BUT THAT WOULD BE 3 MONTHS LATER THAN EXPECTED.
$38m of debt and equity spent. ON EXTRA LAND LEASES, REMEDIATION TO RAIL SPUR, WASHPLANT, YELLOW IRON, BENCHES, LONGWALL RIG, SITE CLEARANCE OF OVERBURDEN, PURCHASE OF THE HWM, BUT YEH IT IS A HUNK OF CASH. LONGTERM THE SITE IS NOW READY FOR 2 OR MORE HWM TO OPERATE AT FULL CAPACITY TO SHIP OUT WASHED COAL BY TRAIN, BUT IT HAS COST MONEY AND TIME.
Only six trains in total so far in 2022. Three late June early july. Three late July early august. Not 5 in 31 days. CONTRACTOR STOOD BY THE LOADOUT CHUTE GAVE A TIME STAMPED REPORT THAT A 5TH TRAIN HAD LEFT SINCE THE FLOOD.

AND AS FOR 10P DIVIDENDS. ADAM HAD HOPED TO GET THEM ISSUED BY CHRISTMAS. 10P BEING THE IPO PRICE SO EARLY INVESTORS BASICALLY GET THEIR MONEY BACK. WELL THAT AINT GONNA HAPPEN THIS YEAR. NEED TO DO £37.4M PROFITS FIRST, SO LOOKS MORE LIKE EASTER 2023. BEN IS A NEW MINING COMPANY NOT YET 1 YEAR OLD. PR WAS MISLEADING EARLY ON WITH OVER OPTIMISTIC TIMELINES. THAT CAUGHT ME OUT AS IT DID MANY OTHERS. HOWEVER IF YOU TAKE EVERYTHING SAID IN MARCH AND ADD 6 MONTHS TO IT THEN HERE WE ARE DOING WHAT WE WERE LED TO BELIEVE WOULD HAPPEN BACK THEN, WHEN WE WERE £1. WHILST I AGREE THAT WE AREN'T WORTH A £1 WITH ONLY 40KT OUTPUT EACH MONTH, EVEN PATT MUST AGREE THAT WE SHOULD BE AT LEAST IN THE MID 40P RANGE NOW. sorry for CAPS, was only way I could differentiate my replies from the questions. For longterm investors the output will double this year with permit and extra HWM rig and more trains and higher market price for HVB & HVA. For short term day traders/shorters I feel for you being stuck in the 30s all summer, you shoulda done MCM instead. As for those whom did MCM, then maybe we will see you back here next month above 40p

Posted at 01/8/2022 11:41 by seagreen
Patt,

Trading and operational updates are just that.
Annual and Half Yearly accounts report are where you see the financial detail. (Annual always audited)
Some major plc's issue quarterly accounts.

I do not "want" to trust Adam.

It is well documented I trust the financial regulatory system.

In Adam's case he used to run a Nomad so he is super conversant with the regulatory framework.

From a logic perspective Adanm is pesonally wealthy having disposed of Hitchins and Harrison so I do not buy he would risk the lot on some scam.

I have never met Adam but I know a lot of his former coleagues and he checks out.

I know a lot of the staff at Allenby from top to bottom and I think they are highly regarded.

Atlantic carbon, whilst not knowing the detail as I was not an investor, at the time of it going bankrupt the coal price halved from memory and the coal industry in the USA saw millions/(billions?) wiped of their stock market.

I have maintained all a long the theory that in October the concert party will dispose of all their shares in the open market does NOT stack up. (John Storey a small but significant investor showed what happens.)

Making estimates of profitability without key information which you now confirm as correct and presenting them as facts is ludicrous.

You have a slightly better chance of making a call in total cash terms, which I have been arguing all along ie cash burn not profitability. However, you still do not know the US$ value of turnover in either cash or receivables terms or the current cash balance.

We also do not know whether they availed themselves of the additional CLN facilities to cover the interest or paid for the interest. I kinda think it would be good corporate governance to notify the shareholders if they have via an RNS. Although I suspect this will not be required as the regulators would class it as a draw down from an existing RNS's facility.

Still it will not be long before they are legally required to produce their annual report ending March 2022.

Although as it is a start up with delays, investors eyes will be glued to forward looking statements and any forecasts. (Plus tax losses to be carried forward against future profits.)

I suspect a semsible CEO would wait to issue the statutory accounts as long as they are legally allowed to incorporate a forward looking statement (audited) that categorically shows production rates have increased and if possible the new permit and HWM operating. (But also because they will have up to date half yearly management accounts to rely on and show the auditors.)

Posted at 31/7/2022 12:16 by purchaseatthetop
Seagreen. I fully agree that we know none of those things. Which is a huge red flag. Why should investors not know what the cash balance is when they release a trading and operational update? Why do they not say what their revenues have been? Why the complete absence of data?

The absence of data suggests to me that they do not want investors knowing exactly how badly things are going despite Adam saying that investors and the company are like family and that he always gives transparency.

So, in the absence of data I have to estimate. I have given my estimates. I think that the March 21k clean equivalent brought in $5m, that capex is $7m, that closing cash balance is $3m. That the Junedelivery of 22k will bring in $4m, that the existing stockpile of 40k tons would bring in $8m.

The cash burn is nearly $30m excluding capex. To estimate the profit and loss I simply add back in accrued revenue for the stockpile of $8m and come to a net loss of around $14m.

You simply want to trust Adam. Why would you? Nothing he has promised has ever been delivered.

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