Bens Creek Share Discussion Threads

[purchaseatthetop] 20/12/2022 20:15

Of course it was professionally ramped. I have posted what happened before.
It is the Unholy Trinity of a devious owner setting up the company, an avaricious trader and a soulless analyst willing to say anything as long as they are paid.
Here it was Iqbal and his MBU with sidekicks Adam etc as owners. John Storey as the trader, and Zak Mir and The Roasters as the soulless analyst.

BEN was set up. John Storey organised the professional ramping (MBU could not be connected with that in any way). Zak Mir provided the so called independent analysis that could be pumped. They all made lots of money.

It was going brilliantly until Adam shat in the bath with his 27/6/22 RNS that revealed his utter incompetence. John Storey realised that it was time to get out and started dumping. This triggered BlueStar and 5he other hidden “other lenders” issued shares on admission to also join in selling and 45m shares were dumped in a week taking the price from 85p to 37p.

Fun to watch. And yes. I posted on 27/6/22 that the RNS was an utter disaster and John Storey would sell.

[andymunchkin] 20/12/2022 19:54

AimMafia5 Nov '21 - 09:19 - 437 of 8165
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I am not ramping, I am stating facts and its just silly that people are selling. ..
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hamidahamida26 Oct '21 - 12:44 - 71 of 8165
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Mms robbed few this morning
30p
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AimMafia26 Oct '21 - 11:14 - 67 of 8165
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I want to buy more but trying to sell out of another illiquid share is proving difficult
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czar29 Oct '21 - 06:25 - 186 of 8165
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This RNS is sensational and puts BEN on a pe of 0.5x. A pe of only 5x gives us a ten bagger from here 180p, that seems a very sensible minimum target price.
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hamidahamida26 Oct '21 - 11:18 - 68 of 8165
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You are on fire
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hamidahamida26 Oct '21 - 10:01 - 56 of 8165
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We will have flippers and that’s only healthy for the long run but BEN
is only going oneway and that’s up
Let’s recap
Mcap under 50mil
Revenue next 12 months circa 75mil
Profits 45 million cash cow
Trading on PE 1.5
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apfindley29 Oct '21 - 09:30 - 219 of 8165
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BEWARE.
THIS IS BEING PUMPED ACROSS MANY BOARDS.
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Divmad30 Oct '21 - 12:03 - 235 of 8165
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Give it a rest, spamming other advfn threads with posts about Ben,...
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soTis wAss aConCerted p7d job byhamidahamida& the aim mafiaGang

[mindminer] 20/12/2022 17:42

At least seagreen will buy the placing

[papillon] 20/12/2022 17:36

purchaseatthetop, re your post 8158. The vastly reduced gross percentage profit figure, you quote, on the much increased sales must be a big worry to shareholders. Will the BEN share price stay above 20p based on the numbers you have quoted? I wouldn't bet on it. Look at the charts in the header. They don't fill one with confidence.

[hamidahamida] 20/12/2022 17:30

Considering today's RED FLAG resultsAt 21p BEN still has eye popping 74 million valuation based on misleading RNSs dangling carrots and Pumpparoony podcasts

[hamidahamida] 20/12/2022 17:16

RED FLAGS EVERYWHERE Huge monthly cash burn and wafer thin margin on top of mountain of debt plus forecasts of met coal price reversal, I see multiple deeply discounted placings within 12 months that is if the market still believes Wilson's BS Imo there is a high chance BEN will not be around within 15 months Definitely Atlantic part 2

[purchaseatthetop] 20/12/2022 16:12

Mindminer. They must be getting very low on cash at they burn more than $1m a month simply on cash based losses. There is no evidence that the losses have reduced at all. A placing will have to come but their problem is volume is so low and now nobody believes a word Adam says and no IIs would ever look again.

Going to be fascinating seeing how they try to play it. Cannot see a way forward myself.

[mindminer] 20/12/2022 16:09

Placing will happen early next year surely.
Either that or Adam will be laughing somewhere in the Caribbean on a super yacht.

[purchaseatthetop] 20/12/2022 16:05

The other interesting thing is that BEN only earned $200 a ton in the six months when Met B prices aversged miles above those levels. So Integrity was taking a huge slice. Then you need to take off another $50 a ton for the royalties and transport costs included in other cost of sales of $4.2m.
So really BEN only getting around $150 a ton. Adam does not do very good deals.

[purchaseatthetop] 20/12/2022 15:24

Papillon. Good luck to any punters thinking this has a chance. I think not.

Simple really.
Period to 31/3/22 has sales of $5.411m with gross profit of $1.533m (28.3%)
Period to 30/9/22 has sales of $17.421m with gross profit of $0.942m (5.4%)

So, with increased output the gross margin has cratered. Operational Gearing Inverse. Never seen that before. Just wait till coking coal prices fall to the forecast $200 in 2023 and $140 in 2024.

Atlantic Coal 2.0

Interesting that note 12 of the interims finally discloses they have borrowed another $6.136m from Mcginty Road Partners at 15% interest. That is a million a year interest on its own.

[papillon] 20/12/2022 14:33

🤣 purchaseatthetop The BEN share price has held up remarkably well today considering the dire half year figures released today. It did drop below 20p for a short time this morning, but has recovered somewhat. I believe the market had already priced in these figures by the fall in the share price from the over £1 peak earlier this year.
I can understand investors being tempted to have a punt on BEN at the current price in the hope that better times await BEN in 2023. However it's not for me. Why? Well I believe in climate change due to the burning of fossil fuels and have made a vow not to invest in coal and oil companies. I know that coking coal is currently necessary for the making of steel, but there is a lot of successful research being done to find a replacement for coking coal in steel making.
Also I believe we are heading for a bad global recession hence the attractions of gold and silver.

[bbmsionlypostafter mk2] 20/12/2022 14:32

LOLS!!


...I predicted a Seagreen/humble pie interface.

[purchaseatthetop] 20/12/2022 14:15

Papillon. Actually I am not sure BEN have any real employees…disgruntled or not.

[papillon] 20/12/2022 14:13

Your maths were remarkably accurate, purchaseatthetop. You're not a disgruntled employee of BEN by any chance, with a grudge to settle? 🤣 🤣

[purchaseatthetop] 20/12/2022 12:57

Seagreen. I refer you to your post 7754 on 1/11/22 where you declared that you strongly believed 31/9/22 stock would be 184k ROM tons.

I also refer you to your post 7759 on the same day where you stated you would put your hand up and eat humble pie if you were wrong.

I finally refer you to my post 7760 of the same day where I predicted a Seagreen/humble pie interface.

Time to fess up. Seagreen.

[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