Bens Creek Share Discussion Threads

[seagreen] 05/9/2022 14:35

Post 6909

Sorry not one meaningful contribution since March, no interest

[seagreen] 05/9/2022 14:31

As I say there is no point in discussing you/your various multi log ins and/or your cronies stream of bogus libelous and distorted theories...........

1) You were posting it was 8k tonns when it was nearer 11K minimum you ignore simple mathmatical logic divide production by the correct period of time and you will get the RUN RATE....

2) If you think the CEO on the ground is not slightly more aware of the local staff situation and done his research into the potential of hiring permenant or self employed direct and cutting out the middle man, you really are more stupid and juvinile than even I thought.

3) If you think HR uses the RNS service to announce relatively junior all be it skilled labour you are barking mad.

4) Temporary or contract staff do not appear in accounts.

5) You do not listen production ramped up in April and the vast amount of employees when they did start were outsourced.


Your points are beyond contempt and so ignorantly juvinile that it beggars belief...


Your game is up sunshine you are a fraud

[purchaseatthetop] 05/9/2022 13:45

Seagreen seems to think people are remotely interested in his warped view of what I have posted.

I posted that current output was about 17k cleans tons a month. This was confirmed in the 25/7/22 RNS where 80k was confirmed for April to end August. My calculation are based on RNSs not Sunday roast where Seagreen was claiming 40k tons clean a month. The error was always seagreens. Not mine.

Seagreen. How about answering where you have found the probably over 50 staff needed to Yellow iron,underground mine and process coal? This is the canary in the coal mine as nothing has ever appeared on RNS about staff. Except numbers to 31/3/22 which were very low. There are no job adverts, nobody in glass door, no RNS about recruiting, nothing on indeed or any coal recruitment sites. It is quite extraordinary.

It is almost as if it is not happening. Stop wobbling on about me and answer a question or you will remain an irrelevant distraction.

[bbmsionlypostafter mk2] 05/9/2022 13:37

Nope, too many words.

Use fewer. Thx.

[seagreen] 05/9/2022 13:34

Its raining in England with flash floods perhaps it will effect the trains in Mingo just like the strikes will not....

purile extremus

[seagreen] 05/9/2022 13:32

Ohojiim

It is hard to discuss anything sensibly about the future of Ben when Patt and you continue to ramble on about historical delays often totally out of the hands of management, which you have both chosen to highlight in your desperate attempts to hide the fact you committed liable trying to persuade inveestors the CEO had obtained BEN's Creek in an underhand manner from a previous company that was sopme 300 miles away.

No it is not a minor error.

It was a deliberate fraudulent attempt to undermine shareholders belief in the BOD, back in March.

And your collective tune and raison d'etre has not changed for the last six months without hesitation and a continual avalanche of false mathmatical devious misinterpretation of estimates with no let up has ensued.

I stick to what I said about the devestation of the flash floods in Kentucky/West Virginia which you chose to assume and pronounce had caused the same level of destruction to Ben's Creek in the neighnouring Mingo County (80 miles away from St Louis where the main devestation occured) and aluded to the fact that all rail links had been cut off and predicting further doomsday predictions, which proved to be totally unfounded.

The bigest deliberate staement of misinformation by Patt, which I continue to advise people, was his total and deliberate misinterpretation and understatement of production run rate as it increased as the start up gathered pace.

This was used to misinterpretae cash flow forecasts and sales.

The second bigest deliberate (pathetic) attempt was his total false logic about who ran the rail link and his asertaion that they had booked 8 or 10 trains and that was it for the rest of the year. As opposed to the CEO wanting to derisk the price until after the August Russian embargo became effective and a clear indication that major steel manufacturers wanted BEN coal due to its high quality.

A sensible investor who had half a brain can see right through this campaign.

So why on earth would I or you pretend to be experts on recruitment of HWM operatives in deepest Mingo County, particularly as I have no idea how the best operators are recruited there.

All I can see is there an implied sugestion that they will target locally based operators and an implied sugestion that some may be the very same individuals that are currently hired guns by the firn of sub contractors who are making a profit out of passing on their services as an outsourcer to BEN.

Well done to the new CFO for highlighting the p[otential savings.

of course I can not predict how sucessful this strategy will be and likewise you can not predict how unsucessful it might be. So I do not but I would hazard a guess BEN have had some prelimiary discussions subject to retrictive covenants and they may or may not have to pay a placement fee depending on their contract.


May be best to just focus on the pivatol moment of change and the increased momentum in production and refurbished infrastructure....

No worries if you do not wish too

[ohojiim] 05/9/2022 11:56

SG, can you see any internet trace of recruitment activity?I ask this because having extensive experience in recruitment practice I too find this peculiar. What s your thoughts on recruitment?

[purchaseatthetop] 05/9/2022 11:24

Bbmsionlypostetc. My ramblings were that 100p was far too high for a loss making wannabe coal minnow, that cash burn was huge despite the admission document saying $9m placing in mid Oct 21 was enough working capital for the next year (now up to $38m), that output was one third of the mining plan from this admission document, that the insiders are grotesquely greedy and feathering their own nests, that there was a rule 7 breaking debenture (bringing out the first RNS), that corporate governance was dreadful with Raju being CFO of both MBU and BEN (second RNS), that there were tens of millions of unconverted 10p shares in the long term MBU loan (bringing out third RNS), and with ohojim that the flooding in West Virginia was serious (4fourth RNS). Now i have shown from their own accounts that Adam personally trousered 20% of the initial admission placing money and that he has deliberately misled investors. The new Sunday roast makes it clear he fully knew the permit process and the need to advertise it. But he repeatedly stated four weeks in June. Then July, imminent or whatever. Knowing full well that it was wrong. Why? So Blustar could sell their many millions of “other lenders” MBU shares at 70p and then be able to rebuy in at 30p recently and also lend him the money to buy as MBU and Mr Iqbal.

So. Not rambling at all.

[bbmsionlypostafter mk2] 05/9/2022 11:13

And yet the share price is down 65%.

[seagreen] 05/9/2022 11:07

I mean other than unforseen delays nothing he has said has a grain of truth in it.The only bonus is he has highlighted ENETis near to bankruptcy so do not touch with a barge pole.

[seagreen] 05/9/2022 11:04

One other thing there is a high level qualified FD/CFO clearly in charge of numbers, forecasts, KPI's etc who will ensure all financial factors are considered before making strategic decisions. So probably best to ignore the unqualified ramblings of a wannabe accountant from his ambulance

[purchaseatthetop] 05/9/2022 11:03

Please do not be angry that I ask these questions. They are perfectly valid and if you can answer them then your investment case is stronger. Nothing wrong with a naysayer. Actually, my advice is that after you have listened to Adam and teams most recent Sunday. Roast, go back to the many previous ones and see if what he told you would happen then has actually happened and when he said they would. That way you can see how much reliance you can place on them.

I think they are utter tosh. But you know that. Listen back and see.

[hazelst] 05/9/2022 10:50

You can never trust a convicted fraudster!

[purchaseatthetop] 05/9/2022 10:49

One other thing that I have mentioned before.

If BEN are becoming owner/operators of the yellow iron then they will need to recruit a lot of staff. These would be added to all the staff who must already be employed to produce what Adam says is 10k tons a month from underground. The admission document said 25 staff for this level of underground output.

So, they might need 20 staff for yellow iron and 25 for underground making minimum 45.

The LinkedIn site has three staff and wherever I look I can see no evidence of any other staff nor any recruitment. Where are they getting all these people from and why has no output figures from underground mining been RNSd?

[ohojiim] 05/9/2022 09:25

PB, good audio quality is the only acceptable audio for broadcast. That podcast should have been binned and recast. Not Bens fault - SR s call, but QA sign off should have curtailed its appearance. If SR are going to put out such poor quality then at least support it with a transcript. Has Adam developed a nervous sniff?

[purchaseatthetop] 04/9/2022 17:03

Wonder if Adam discusses his $1.6m pay packet on page 83 of the accounts so personally eating nearly 20% of the original placing value into his bank account in the first five months plus another 10,500,000 share options granted at 5p for getting the share price to 30p. Even at 35p share price where most investors are losing Adam is $1.6m up in salary plus £3m in share options. Nearly £4.5m.

Meanwhile the company has eaten…
$9m of October 21 placing money
$12m in two CLNs
$9m in MBU loan
$8m in recent placing at 30p
Total $38m

And the interest alone on the CLNs and Mbu loan is $2m a year which is one of the trains they are getting each month from Sept to Dec. If they arrive.

But Adam is OK. Which is nice. Fast show style. And that does not include his other 28m shares at 10p that he can start selling mid October 22. Which is in a few weeks. Yes, he must sell via Optiva and not cause market collapse, but if enough PIs are buying then the share price will stay strong. Wonder why he is doing Sunday Roast interviews. Who knows.

[parkyboy] 04/9/2022 15:33

https://audioboom.com/posts/8150625-the-sunday-roast-featuring-adam-wilson-ceo-of-bens-creek-aim-ben

[ohojiim] 01/9/2022 22:40

If you re selling a story Pap - you are selling persuasion going in whichever direction your story is headed.


People give all manner of names to stories Pap - but persuasion swings left to right from center in all cases, expressed with or without doubt.

[seagreen] 01/9/2022 21:42

Pap

If you come on to this threas and make the below comment of course I am going to make a point back as you are bashing both ENET and BEN with little knowledge of the detailed story of either.

It is insuling statements like that, that results in people mucking up threads you are invested in. Life is a gamble.

In the current economy any share is a gamble of course.

FWIW

1) I am strongly of the oppinion that the main thrust of my posts is to correct Patt's negative conclusions/mathmatics. That is NOT RAMPING it is putting forward an alternative mathmatical logic, towards his apparent hatred of BEN and the BOD.

2) I am not a trader and I no longer have very many shares in any individual stock. I am also in for free with NO MARGIN as I believe the building blocks are in place.

But who knows what will happen.


papillon
1 Sep '22 - 10:33 - 6881 of 6890
".......Both BEN & ENET shares are to be avoided. For gamblers only...."

[seagreen] 01/9/2022 21:26

Patt

1) I have no idea what their contracts say its up to the non ex director responsible for remuneration. I did raise my eye at Adam's bonus to be fair but whether that was connected to delivering the IPO I know not. However as he has been working on BEN 24/7 for over a year he probably deserves it for those who beliee he has delivered an opportunity of a life time for shareholders.

(Note any idea when the bonuses were actually paid as there was probably every chance they were not agreed until after the accounts were nearing completion.)

2) Does it never ever occur to you that that was his best estimate based on his past experience or having talked to the permit provider.


Why you insist on this personal witch hunt against Adam is quite beyond me.

There seem to be permenant delays currently in all mining projects yet you post with glee at any delay shouting he is a liar

When you are the only one distorting the truth

[papillon] 01/9/2022 12:46

Of course I'm gambling, seagreen, by holding shares in explorers MILA & EST. However I've learnt lessons from past mistakes and have only "bet" money that I can afford to lose on both shares. Also I don't ramp them. I never ramp the shares I hold, something you and purchaseatthetop would do well to remember.
PS I only hold MILA & EST. Will they turn out to be good gambles? Only time will tell.

[purchaseatthetop] 01/9/2022 12:41

So Seagreen. I repeat the questions:

1) do you think it is reasonable that the directors paid themselves $1.8m including bonuses in the five months to 31/3/22 using up 20% of the 13/10/21 placing money and meaning that even more cash was raised at great cost to PIs when the directors were already incentivised with tens of millions of shares?

2) when Adam RNSd that the second permit would arrive in July 22, and in interviews repeatedly stated just a couple of signatures, imminent or four to six weeks, was he being misleading or was he simply ignorant?

If you cannot face these questions you should simply be ignored.