Bens Creek Share Discussion Threads

[daddy warbucks] 16/12/2022 07:19

Are 5he 6 monthly financial reports due by the end of December?

[purchaseatthetop] 16/12/2022 05:22

*taps fingers*

[purchaseatthetop] 15/12/2022 11:57

“It should also be noted that underground mining is producing 10,000/month”

Seagreen. As you seem to think it best to wait for an RNS, please would you show any RNS that states 10,000/month is being produced underground. Actually, please show any RNS that gives sny underground output.

You see, that is why I am here, to balance your lying ramping. I am not a deramper but a balance to your endless made up ideas and data.

So….if you can show me where the company by RNS have stated underground output, then I will apologise here and now. If you cannot, then I expect an apology from you.

The readers here can judge your response.

[seagreen] 15/12/2022 10:38

Top of the mornin to you....

Just pop in ocassionally to point out you state you have no idea of costs revenue or cash (your words) but you carried on and carry on deramping 24/7 pretending to guess...

Wait and see is my advice for one of your beloved RNS's rather than listen to an idiot on advfn

[seagreen] 15/12/2022 09:10

Serratia as those who study the stock will know all to well that production was delayed and staggered the final results to 31/3/22 are not representative of a true cost of production at todays production rate the cost base also included one of remedial costs so anyone other than a deramper knows this. They also include additional transport costs of the initial ROM lorry transport. (Although recently some additional clean coal has been trucked in addition to the trains.

You willl also note that our resident deramper states in his post 8116
"no idea of costs per ton to mine and what sold per ton for 2022, what the cash balance is,"

This is despite his repeated attempts over the last six months to guess the costs per ton and what the revenue is and what the cash balance is (despite my many attempts to point out he had insuficient knowledge) by insisting the maximum negative bias he can make up.

The majority of sane people realise that the production levels have increased signifinctly, whilst the new production increases caused by the moving of the HWM to a wider seam these will not be reflected in the interim results as the change of site started in early October after the interim end. During the period when the new benches were constructed there will be additional costs and there will be a small down period whilst the HWM was moved. (The down period may or may not have partially ocurred at the end of September or purely in October.)

It should also be noted that the underground minining is now producing 10,000/month although I have no idea whaen this kicked in.

We also have no idea when the 2nd HWM will appear or be fully functional on site yet nor does the CEO for sure.

Clearly the effect of inflation will also be causing wage inflation etc so the cost will go up but the economies of scale of a greater production will also kick in to soften the blow.

The logic that the demand for Met coal will stay strong is based on a belief that the steel required for renewable and other infra structure build out will prevent the price dropping too dramatically.

It should also be born in mind that the contractors were offering an all in price that will now be in the process of being reviewed.

So why someone should spend his life trying to destabilise a share price with estimates he has no idea of is indicitive of the idiotic spoutings of a bitter and twisted individual.

The prudent advice is to wait for the interim accounts and trading update/outlook and assess the figures rather than listen to hypothetical garbage, or if you take a longer term view that the project is expanding then that is your choice.

Re post 8119 "
The Admission Document mining plan had a target of $85 a ton for clean Met B coal."

The admission document was produced for an IPO admission documenmt in October 2021 and stated they would not be cash positive until 2022/23.

Of course our resident deramper conveniantly forgets to mention the sales price was based only on US$110/115 and it is significantly higher now (more than double.)

It was also based on mainly (totally?) underground mining where as the new model is based on largely contractor costs. ~It also (presumably) underestimated the level of capital expenditure and remedial costs that were required to make the project fully funtional.

I have long ceased to waste my life arguing pointless estimates and guesses as it is mure mental masturbation by our resident deramper.

Far better to wait and see what the interim results show and the trading outlook/update states and form your own view.

[purchaseatthetop] 14/12/2022 15:21

Warrior Met Coal reported costs rose to $134 per short ton in Q3 22 up from $85 per short ton Q3 21. But that is partly due to their transportation costs that comprise 47% of their cash costs per ton. BEN have that taken out of their revenue as Integrity pick up from the mine.
Whatever way you look at it, BENs costs are very high.

[serratia] 14/12/2022 15:14

MCM - Coal Zambia are at $85 with their low labour costs so it would confirm that BEN are unlikely to hit their target.

[purchaseatthetop] 14/12/2022 12:20

Searratia. The Final Results to 31/3/22 RNSd 30/8/22 showed 64.8k tons (32.4k tons clean equivalent) mined at a gross margin cost of $3.878m for coal sold and $1.539m stock at 31/3/22. Total cost $5.417m. Cost per ton $168.

This excludes cost of cleaning the coal as this coal was sold ROM not Met B. So, if it was processed the cost would be closer to $200 a ton.

The Admission Document mining plan had a target of $85 a ton for clean Met B coal.

And this is the problem . BEN are very very inefficient*


*except when it comes to voting the Board bonuses.

[serratia] 14/12/2022 11:49

Anglo American costs p 37 at $105 - 110 /ton. I assume they're more efficient.

[purchaseatthetop] 14/12/2022 11:30

The GOOD news for holders is that Fitch have just announced they expect coking coal to rise to $370 at the end of 2022.

If you stop reading there you will enjoy Xmas.

The BAD news is that they expect coking coal prices to all to $200 in 2023 and $140 in 2024 as recession impacts and Australian supplies normalise.

That is why I really want to see the Interims. You see, I think BEN cost per ton is higher than $140 a ton.

[placinghappyceosexposed] 14/12/2022 11:06

I see Adam RED FLAGs Wilson is running the show He LOVES Placings. Look what He has done to this company. Proof is in the pudding.Shares in issue are rocketingSP TANKED and some of you still think he is going to deliver multibagger valuation. Remember Placing happy CEOs only deliver valuation destruction

[seagreen] 12/12/2022 14:46

all posted by someone who has no idea

[bennyboy1975] 12/12/2022 06:59

Said it before, nobody on here who invests like you so why you keep trying to help them hahahaha deramper

[purchaseatthetop] 09/12/2022 14:24

Good lucks paps. I hope you do well. I simply warned about “future uncertain” with assays. My research is to reduce this as far as possible.

[ohojim] 09/12/2022 13:22

sella

Let's have some links to back up all the research you've done in Gilbert and Mingo. Otherwise it's just more hot air from a dodgy avatar on a free bb.

Btw...A paragraph (from Ancient Greek παράγρ^5;φος (parágraphos) 'to write beside') is a self-contained unit of discourse in writing dealing with a particular point or idea. Paragraphs are a conventional means of organizing extended segments of prose.

[sellatthetop] 09/12/2022 12:55

Interims will show a loss to end of September as they were only selling 22KT each month. Only started selling 44KT a month since last month and having to use trucks to send it to CSX trains as Norfolk Southern having a staffing supply issue to send 4 trains each month. New staff are onsite drilling, blasting and clearing the wildcat highwall 24/7 to prep it for the 77HWMer that Mega have marked for logistical transport across from Ashland, Kentucky. Ben are only just into positive profits now. Double production won't happen until March so don't expect that second HWMer to just rock up in 4 weeks and start spitting out 80KT run of mine. It might do 70KT by Easter. If the HWMer isn't onsite in January then you win Purchase but watch the trucks and trains pass by in Gilbert or have someone there tell you about them passing by and you will realise your claims that Ben ain't selling as much as they say they are is just sad stinking thinking on your part. They are still recruiting for more operators, black hat and EMT preferred, day and night shifts, 5 & 6 days a week, free insurance, contrary to you disputing Ben's buying their own equipment and disputing that they were recruiting staff. Take a day off Purchase, do some research amongst people who actually live and work in Gilbert, logistic transporters, the Mingo press and public government offices, then pop back mid January and compare notes. You spend too much time just reading accounts and bashing Ben, but no apparent time doing local homework. You claim you told everyone the share price would fall. Didn't take any brains to see the share price had been pumped too high too fast that a fall would happen. Delays on permits and drop in market price just helped us all get in at the bottom end of 20p. That wasn't anything to do with you Purchase. You try to claim credit for the share price falling/diving but you had no part in it. The share price nosedived simply because everyone was told today's production would start 6 months ago. Very naive to believe that would happen so soon but clearly people bought with no understanding of mining commodities. If Ben get to 70000 tons clean coal by Easter even I will be amazed. I got my ISA full of Ben. Why are you even wasting your time bashing Ben each day if you are not invested or considering investing? Is there a financial incentive for you to do so? If not then why not turn your interest to a stock you do believe in and make yourself some dollar pumping it? CGO looks good for next year or try ALK and anything Hydrogen.

[purchaseatthetop] 09/12/2022 12:11

Paps. MILA did not end up well. I did warn you! I will be proven right on Ethernity.

[purchaseatthetop] 09/12/2022 12:02

Bennyboy. Where do you have any evidence that BEN is making a profit?
The Admission document stated that the initial $9m placing was enough to reach 359k clean tons in 2022. Actually they have now spent $45m and not got close to that figure.
20% of the initial placing money went straight into Adams pocket in wages in five months.
They got one over the PIs, not me. I wait for the Interims. They are going to be horrible and show an operational loss.

[bennyboy1975] 09/12/2022 11:28

Please filter me