Bens Creek Share Discussion Threads

[purchaseatthetop] 21/10/2022 13:26

MBU Capital Group Ltd accounts 31/3/22 filed 18/10/22

“The Director believes that the investment in an AIM listed company is a liquid asset that the company can dispose, post 19 October 2022, as and when required to realise cash and meet its ongoing liabilities”.

That is signed by Mohammed Iqbal who owns 100% of MBU Capital Group Ltd.

Mazzafa Iqbal, who supposedly posted that there are no plans to sell, owns 0% of the company and is Director of itsInvestment Committee. He would be told when to sell the shares, not if the shares should be sold.

MBU Capital Group Ltd, per the 31/3/22 accounts, has a large and growing cash deficit with tens of millions of debt in a high interest environment.

[mindminer] 21/10/2022 12:53

Iqbal in Ben's Creek Telegram:
MBU have no plans to sell any of its position in BEN. The group is fully behind BEN's production strategy, and looks forward to seeing the value uplift over the next 12 months

!!!?!!?

[hazelst] 21/10/2022 12:26

What is a convicted charity thief doing giving out financial advice?

[purchaseatthetop] 21/10/2022 11:11

Somebody is releasing 100ks as fast as the market can sustain it. Probably the USA insider.

[ohojim] 20/10/2022 20:19

...If only I had more thumbs...up, up, up, up, up...

[purchaseatthetop] 20/10/2022 20:00

But Seagreen you are a c*nt.

[amaretto1] 20/10/2022 17:41

Let's not mention Atlantic Coal ...ATC

[purchaseatthetop] 20/10/2022 17:07

Stocky. Euston One and Euston Two ltd are the debt and operations companies for the old Addison Lee hq. Euston Holdings owns them and also William Road Properties Ltd that own the freeholds and leaseholds for the property.
Planning permission was refused a few months ago and this debt is mushrooming. The new Euston One Ltd accounts just filed for ye 31/3/22 show that the £28.7m debt has been rolled over to July 23. These accounts now also have serious going concern notes made by the auditors saying that not qualified but very concerned.

I think that MBU had to cross guarantee but that is just me guessing based on the fact that nobody would roll the debt over without it.

Very interesting!

[papillon] 20/10/2022 17:04

Serious investors do not take any notice of what is posted on bb's, seagreen. If they did then the ENET share price would not be languishing where it currently is, as purchaseatthetop has been posting, non stop, his bullish views on the ENET bb during which time the share price has fallen from 60p to under 11p. In fact ENET is being "ramped" continuously on the ENET bb by others, yet it has had no apparent impact on the ENET share price whish is still languishing in the doldrums. Hence I think, seagreen, you overestimate the effect of purchaseatthetop's non stop bearish posts on the BEN share price
Rather I believe the drop in the Met coal price and the delays in ramping up production, as promised, are the reasons for the big fall in the BEN share price Add in the fact that the BEN share price was very overbought earlier this year.

PS I had a small punt today, seagreen, on another explorer, ACP.

[stocky50] 20/10/2022 16:37

I remain confused - but it’s interesting. Patt - I read the accounts - and no where does it say that MBU have guranteed this?

It’s a going concern debt at the SPV level no ?

Anyways … enjoy the ride - whichever way it goes,

[seagreen] 20/10/2022 16:30

stoky as he insists he is an accountant one would hope he knows that

[seagreen] 20/10/2022 16:29

pap

Correct but every prediction a minining company makes destroys the share price if unforseen delays occur and if they say nothing the share price goes down.

There is no right answer sadly as social media keyboard warriors start a campaign of vitriol particularly if a share has done well and suddenly a delay is a fraud/pump and dump etc.

So I expect them to wait until everything is fully functional.

What is for sure is the share price got out of control on "future" potential and then the coal price halved along with delays global financial panic etc etc

I have said as much.

SG

[stocky50] 20/10/2022 16:29

Patt - I did. And from everything I have seen - this debt is ringfenced ? The Auditor would not sign off if that was not the cases

Just trying to get smarter

[purchaseatthetop] 20/10/2022 16:24

Whatever Seagreen. You keep posting your nonsense if it makes you happy.

[purchaseatthetop] 20/10/2022 16:06

Stocky50.
Go to Companies House
Search for Euston One Ltd
Click the accounts filed on 30/3/22 for ye 31/3/21
Read section 2.2 going concern and it details the £28.7m loan

[stocky50] 20/10/2022 16:02

But you know their debt situation - this is just speculation ?

[purchaseatthetop] 20/10/2022 16:01

Seagreen. If the best errors you can find out of all my research is typing the wrong state and source of the mine purchase, both of which I have acknowledged, then I have been incredibly accurate. Another compliment. This is nice.

[purchaseatthetop] 20/10/2022 15:58

Section 2.3 going concern statement in MBU 31/3/22 accounts states that BEN shares will be sold as and when required to realise cash after 19/10/22 to support MBU Capital Group Ltd. Which has tens of millions of debt, no income and huge interest charges. Go figure luqs.

[seagreen] 20/10/2022 15:57

Mind so did Liz Truss ...you are in excellent company (aka reputation shattered)

[seagreen] 20/10/2022 15:55

Pat

No worries you were not mentioned as you well know they made comments about Sunday Roast going via Pennsylvania and magical faries producing a huge mound of coal as some on the bulitin board accused him of acquiring Bens Creek from Atlantic Carbon and not producing coal.

I thought it was hilarious not least as it shows your repetitive diatrab about never lying is the bigest lie you have posted.

To be fair you appologised for making an accidental error.

[luqs01] 20/10/2022 15:51

Muzaffar Iqbal son Mr Iqbal (head of MBU) has stated on both BEN telegram groups that MBU have no plan to sell and are fully supportive of BENs production strategy for the next 12 months. Vote of confidence from MBU and alleviates fear of them selling their shares.

[papillon] 20/10/2022 15:25

Looking at the trades so far today there is no evidence of shares being dumped by large holders. In fact the trades today are all relatively small.
However the BEN chart is still strongly bearish and in a downtrend. That's fact. BEN need to release some very good news to reverse that downtrend.