Bens Creek Share Discussion Threads

[oapknob1] 26/10/2022 19:19

What is the break even then into profit monthly tonnage in your view PATT ?

[purchaseatthetop] 26/10/2022 19:12

Stocky....actual output:

25/7/22 RNS: "The Company's estimated production from April to July 2022 is likely to be approximately 80,000 clean tons (160,000 raw tons) of metallurgical coal."

30/8/22 RNS:

"Current trading outlook
Ø Production steadily increasing month on month. Between April and August 2022:
ü 184k raw tons of coal have been stockpiled"

Therefore, between 1/4/22 and 30/8/22 (five months) 92k tons of clean coal have been produced (184k/2). That is about 18k tons per month. Actually according to their own RNS they only produced 12k in August (92k less 80k in the first RNS).

Quite why anybody thinks they have ever produced any more is beyond me. They have told us all of this in the RNSs. It is just that some people just read the words that make them happy.

Glad to help. BTW...at 18k tons a month they are losing money.

[oapknob1] 26/10/2022 17:38

Thanks. Looks interesting

[gotabsirius] 26/10/2022 17:21

Yes, before opex and capex. Should net more than current company valuation next year....all being well

[oapknob1] 26/10/2022 16:24

80,000T per month at $280 per ton gives revenue of $22,400,000 per month. Is this the ball park for BEN ? $268,800,000 per annum before capex?

[stocky50] 26/10/2022 13:42

How do you get the 17k max per month ? In Aug the company was doing 40k per month. The 17k you mention is an average - and yes i agree that the ramp up to a stabilised 40k per month has been slow - but like i keep saying, its a new business and ramp-up has been delayed - but will happen (in my opinion).

Interesting that you say nothing has changed? Lets see what management has delivered....

Listed 1 year ago - No production - Bad infrastructure
All repairs completed (wash plant / railway line / loading bays / etc .....)
Production started in Dec / Jan
Company starts selling raw coal to get revenue in - due to wash plant delays
Sign-off from railway company to use tracks
HMW and underground mining starts to ramp up to circa 15-20k per month
Ramp up continues despite adverse conditions - with measures to limit damage
July / Aug - double shift starts - so production is closer to 40K per month
10 trains sold and done - (Am sure we will get more before end of the year)
At 15 trains for the year - it will be circa $30-40m (no idea of what the selling price is)
New Permit has arrived and mining started on new area
Yellow equipment has been purchased - and continues to be purchased to enhance margins
Company has plans to double production to 80k / month - and have started work on benching for 2nd HWM'er
Market Cap at start was £35m - Now is £100m
Company has seen much higher market cap (£350m at one time i think) - BUT this was due to global met coal pricing - And so if global prices go back up - Am sure we could get there again
Regular updates to PI's - perhaps too many updates !

And yet you say nothing has changed ?

I dont know many companies that start from nothing and end up generating 10's of millions in revenue (and hopefully profits) in just 12 months.

If there are other company's like that - please drop me a note. I am interested.

[aimmafia] 26/10/2022 13:42

https://twitter.com/granthorsfall/status/1585247630266966017?s=46&t=PH0TQy8rndvuoJsOzmdeHA

[mindminer] 26/10/2022 12:53

This will keep going down until greater sales are confirmed

[hazelst] 26/10/2022 12:49

Convicted charity fraudsters cannot be trusted.

[purchaseatthetop] 26/10/2022 12:44

All very interesting justifications stocky but avoiding the real issue.
BEN has been promising 40k tons per month clean Met b since March 22. The highest it has got is 17k tons with two shifts. It is losing money at that level.
Todays RNS is simply that they have moved the HWMer. They can continue losing money at the new site.
So it is a typical Adam RNS. Written to seem like a breakthrough so Seagreen and the gullible PIs can get really excited. Nothing has changed.

[stocky50] 26/10/2022 11:34

Mindminer - Hope todays RNS about the contract extension puts your mind at ease.

Why the selling ? Not sure, but if the fundamentals of the company stack up - Who cares ?

[stocky50] 26/10/2022 11:32

Patt - Its good to see that the new permitted area is now being mined and good to hear that the MHW contract will continue - as I suspected.

Furthermore its good to see that BC will get the second HWM'er in due course. I suspect that BC will not push for this until the benching for the second machine is complete - which again i suspect will happen soon. BC would not be spending all that money on preparing the ground work unless it had confirmation of delivery.


Regarding the timing of RNS's and delivery of the "statements" - we need to remember this is a mining operation where delays are inevitable. Permit issuance / production ramp ups, repairs & maintenance are not as simple as an excel model would suggest.

PI's need to stop demanding RNS's all the time - and need to stop bringing the company into question for every small delay. (Actually PI's can do whatever they want - so long as the company continues to move forward - all is well). A few months of delay in mining is perfectly normal - especially when you are ramping up a mine that had been shut for so long.

Whatever the previous production numbers were, we have confirmation that BC (under the old permit) was at circa 40,000 per month. Who cares if there was a slight delay. This mine had been shut for 6 years - Needed lots of infrastructure work & spend. Had unprecedented storms to deal with - but still the company manged to get to their initial production target - albeit later than originally anticipated.

Seen a lot of comments on why the HWM that was purchased has not been utilised. I am speculating here but why would BC get this into production given that the first permit area was was running out of its mining life. As for what they do now - lets see. If they get a fully operational one from MHW - then surely that's the preferred route. And then they have the "option" of deploying the third miner (as suggested by the company).

Not sure why everyone thinks John Story spotted something and started selling. He was "part" of the pressure on the share price but surely global Met Coal prices falling from a high of $470 down to $245 was a bigger reason ? Have not seen any comments on the global / macro influences.

More and more - i am liking BC - especially at these levels. Took an entry at the recent lows - and am confident that eventually (soon) - BC will get to the circa 80k of production.

Btw - not sure why you think they can only stockpile 50K. From what I have heard and read - they can stockpile a lot more. The site is 17,000 acres no ? No shortage of space.

[drew lonmenob] 26/10/2022 08:57

'goodbye' you clown

[seagreen] 26/10/2022 08:39

Good-by is perfectly acceptable Time to update the list of lies must be over 30 now.Good-by

[purchaseatthetop] 26/10/2022 08:29

“Good bye” it should be Seagreen. I can tell when your alter ego posts as then you can spell.

[purchaseatthetop] 26/10/2022 08:28

Makes you wonder why this “news” was rushed out before even having a date for delivery of this second Highwall miner. Surely it would really make sense to RNS more output when you are able to say when it will happen. Especially when you have a history of non delivery.

I wonder if it is because a six month interim trading update is due and it will not make pretty reading? Somebody is selling into this news which is why the price is going nowhere. Just my view. So not lies. Just my view.

[seagreen] 26/10/2022 08:26

Top of the mornin to Patt and his various multi log ins Liars get found out in the endGood by

[drew lonmenob] 26/10/2022 08:19

seagreen strikes me as a bit of a loser.

[purchaseatthetop] 26/10/2022 08:16

Seems odd Seagreen. You have been writing reams and reams to me for months. I would be delighted if you stopped. The share price should soar on this “news” but the trouble is that nobody except a small group believe a word of it.

[aimmafia] 26/10/2022 08:15

So when the second high wall miner is in operation. Are you going to give up posting here then? As you would have been proved wrong about this point?

[hazelst] 26/10/2022 08:14

Lying and cheating, that's what the convicted charity thief does best.

[seagreen] 26/10/2022 08:13

Sorry I do not speak to liars and "you are" one

[purchaseatthetop] 26/10/2022 08:10

Seagreen. What has he delivered? He needs two HWMers and to mine it profitably. Long way to go.

“Allowing us to deploy the second Highwall miner when it arrives”

As always with BEN….future uncertain.