Bens Creek Share Discussion Threads

[seagreen] 20/12/2022 12:22

Simply not true that is why you are looking back and not forward
It has been made crystal clear the two shifts were phased in
We do not have the monthy data so you and everone are still in the dark
Plus one off remedial expenses costs

that is why I object to your lack of understanding of basic accountancy



purchaseatthetop
20 Dec '22 - 11:24 - 8149 of 8150


They had six months of full on two shift mining to 30/9/22 to show they could make money and if they cannot make money with record coal prices then why will they make money in the future? Questions questions.

[bennyboy1975] 20/12/2022 12:07

Cmon Patt tell us how much Atlantic took you for?

[purchaseatthetop] 20/12/2022 11:24

The astonishing thing is that they barely broke even at gross margin level as the $4.269m other cost of sales are simply more cost of sales. With record coal prices they sell coal at $200 a ton and it costs them $190 a ton to mine it. And that is with subcontract mining agents who charge cost per ton.

Salaries were $1.935m for the six months. They have not broken that down so we can see which fat cat is snuffling the most but we can all guess.

Finance interest costs are $1.478m for six months. That is neatly $250k a month. That is all paid because Adam has borrowed and borrowed. Remember that 20% of the initial $9m admission Money went straight into his bank account as salary and bonus. The company then had to borrow even more.

So, these accounts show that BEN is not really a miner. It mines coal for no profit but PIs pay for the losses with new shares and reducing share price.

But isn't is Great that they won an employment award? Pretty impressive when there is absolutely no evidence of anybody actually working for BEN except one driller who started November 22. Magic innit?

They had six months of full on two shift mining to 30/9/22 to show they could make money and if they cannot make money with record coal prices then why will they make money in the future? Questions questions.

[bennyboy1975] 20/12/2022 09:26

Unfortunately for you the share price hasn’t took that much of a hit. I would love to know how much Atlantic coal took you for Patt mega lol

[purchaseatthetop] 20/12/2022 08:38

I am on shift right now so just stopping to look at the basics. Just 100k tons produced in six months therefore an average of 16k tons clean per month. Exactly on what I calculated and half what Seagreen claimed.

Admit it Seagreen. I got it spot on and you are an ignorant fool.

[hamidahamida] 20/12/2022 08:28

Adam Wilsons last venture Atlantic coal was built on same commodity same narrative Guess what it went Bust

[seagreen] 20/12/2022 08:25

Looks that way buyers returning

[bbmsionlypostafter mk2] 20/12/2022 08:21

Another buying opportunity!

[saucepan] 20/12/2022 08:10

The share price getting well and truly (Sunday) roasted. I think deservedly so looking at today's figures. Rather sad. This seemed an exciting story at the beginning of the year.

The chart reminds me of a three peak mountain snowflake on a winter tyre.

[bennyboy1975] 20/12/2022 07:30

Ok patt aka grant

[terminator101] 20/12/2022 07:20

Oh dear. Horror show interims and a massive $10 million loss.

This is gonna hurt 😳

[papillon] 20/12/2022 07:10

👍 purchaseatthetop. Sub 20p today seems likely.

[purchaseatthetop] 20/12/2022 07:06

Operating loss far higher than I forecast. Horrible.

[seagreen] 19/12/2022 17:28

Hey sicko thicko there is no law against selling on the upward curve...its called box trading your trading stock and keeping your cheap stock and a way of not having to much exposure

You really have no idea ...stick to monopoloy or buying tech stoks,,,trouble is your favourite tech stocks judt go down down and then zeo lol


purchaseatthetop
19 Dec '22 - 08:50 - 8131 of 8134
0 2 0
If you go through seagreens posts you can see he was buying a few at 15p, many at 30p and much more at 50p. So…do the maths.

[seagreen] 19/12/2022 17:22

Why do you suddenly need the accounts you have been making up numbers since March and ensuring everyone you are right.....why the change of tune? lol

[purchaseatthetop] 19/12/2022 09:15

Of course they will. Just like the second Highwall miner was expected to start operating in April 22 ahead of their original plan of second quarter 22. These plans and expectations are so so ambitious.

How about the accounts so we can really see cost of mining per ton, revenue generated per ton, overheads and such like. That is what e need and only a few days left to deliver them.

[sellatthetop] 19/12/2022 09:12

The two continuous miners will initially be operated as a ‘walking’; super section during two production shifts. The initial production range of this first phase of expanded production is expected to be 14,000-20,000 tons/mth (12,701-18,144 t/mth), an increase from less than 7,000 tons/mth historically from this mine using just one continuous miner during one production shift.

 The company has plans to even further expand the coal production to eventually bring total output to approximately 32,000-42,000 tons/mth.

That is run of mine from the CM. Currently producing 10000 t/month clean coal.

[seagreen] 19/12/2022 08:18

Still making up stories I see best to believe the company representatives statements in a public forum than someone who is paid to continue his hate crime campaign of 24/7 lying on ADVFN a stock board that has long lost the respect of genuine investors as it fails to control liars and yobs anymore imho.

[tburns] 16/12/2022 12:28

Looks like the 'teens' are a possibility at this rate for Xmas!!