Bens Creek Share Discussion Threads

[purchaseattgetopp] 15/1/2023 11:54

RNS Number : 6525M
Bens Creek Group PLC
13 January 2023

13 January 2023



Bens Creek Group plc



("Bens Creek", the "Group" or the "Company")



Highwall miner update



Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that, further to the Company's announcement on 22 December 2022, it has signed an amendment to its agreement with its highwall mining contractor Mega Highwall Mining LLC ("MHW") to confirm the provision and delivery of a second highwall miner, unit 77, by the end of this month.



The amended contract with MHW continues to, under a right of first refusal clause, give the Company a right but no obligation to an additional, third highwall miner from MHW should Bens Creek wish to exercise it.



Mobilisation of the components of unit 77 commenced yesterday and some equipment has already arrived on site. All required benching is complete and once the highwall miner has been re-assembled production is expected to start during February 2023.

[purchaseatthetop] 15/1/2023 10:09

Next mistake on the report

Page 9 table 3

Closing cash for 2022 is stated as $21.4m
Opening cash for 2023 is stared as $5.6m
They should be the same.

BTW….I was telling the same story when it was 109p. That it was hugely overvalued and pumped. Many holders have thanked me because they sold out at the peak based on my analysis. Nothing has changed except the share price has fallen. If I had a huge short I would have made huge profits.

[purchaseattgetopp] 15/1/2023 10:06

Patt probably has a huge short open and absolutely desperate for this share price to drop, cmon Ben let’s get this moving to the moon. Why else would patt try to be nagative, it’s not to help anyone

[purchaseattgetopp] 15/1/2023 10:04

Please let us know anyone that’s bothered what patt says?? Please don’t commment from your other accounts patt

[purchaseattgetopp] 15/1/2023 10:02

Patt you look like you really are struggling here and getting nowhere bye bye

[purchaseatthetop] 15/1/2023 09:49

Penstock. I see from LSE that you have read the full report. How about commenting on what I have posted here. Clearly nobody else has read it!

[purchaseattgetopp] 15/1/2023 09:44

Patt you look like you really are struggling here and getting nowhere bye bye

[purchaseatthetop] 15/1/2023 07:57

The WHIreland report is quite ridiculous

Let’s take y.e 31/3/23.

They have revenue at $270 per ton when they averaged only $200 per ton in H1 23
Net Revenue. $71.8m
They have costs of
Operating costs $19.3m
Finance costs. $1.9m
Depreciation. $1.4m
Total costs. $22.6m
EBIT. $49.1m

But from the half year accounts we know for the first six months these were..

Net Revenue. $17.4m
Operating costs $23.8m
Finance costs. $1.5m
Depreciation. $3.8m
Total costs. $29.1m
EBIT. ($11.7m)

So, the valuation assumes that the second half will be….

Revenue. $54.4m
Operating Costs ($4.5m)
Finance costs $0.4m
Depreciation ($2.4m)
Total costs. ($6.5m)
EBIT. $60.8m

So, their forecast assumes trebling of revenue over H1 but with negative costs! Wow.

Interestingly they have made a terrible mistake in their report (apart from the ridiculous figures) that shows they were endlessly mucking around with the figures to make them tell the story they wanted.

Page 1 of the report shows estimated 2023 revenue of $48m that then rises to $201.3m and then $200m in 2024 and 2025.
Table 2 on page 6 where they have the detail of the DCF calculation to calculate the fair value they have completely different values under net revenue. Here the net revenue for 2023 is $71.8m that rises to $201.3m in 2024 and then $200m in 2025.

So, a combination of both ridiculous figures and incompetence. Good luck with attributing any value to that report.

Looks like I am really struggling here. To stop laughing. On a serious note, how come it is only me who analyses their own data to make sense of it and pull it to pieces? You should thank me. I am a naysayer for good reasons and those reasons are the data they give, if you can be bothered to analyse it.

[purchaseattgetopp] 15/1/2023 07:37

Patt you look like you really are struggling here and getting nowhere bye bye

[purchaseatthetop] 14/1/2023 12:28

Seagree. Spreadex do not do shorts. They do sells. Would have thought you would know that, but actually it makes sense as you know nothing. So all good.

[purchaseatthetop] 14/1/2023 12:18

Highwall mining is simple, productive and economic. If used to extend the mining reach from existing open pit or contour bench mines where overburden levels make stripping uneconomic. We can all agree there.

They are dreadfully wasteful where the miner has to create the contour bench to then start Highwall mining. As I pointed out many months ago and evidenced by the tiny 5% gross margin despite sky high coal prices. As it costs $190 a ton to mine right now, just think what will happen when coal prices fall.

Strange how I know so little about mining but forecast exactly what would happen a year ago.

[allotment] 14/1/2023 11:32

Hey Seagreen I now see why you have been yelling for nearly a year that HWM's have more than doubled in use over the last few years and Prat knows sod all abbout mining it must have been doing your head in he clearly knows nothing about mining...LOL

From the real Geologist's note

"Simple, productive and economic production:

Highwall miners are incredibly productive and have negated the need for damaging strip mining in the Eastern USA."

Get in......

Prat is rapidly becoming the Graham Potter of ADVFN out of his depth and losing the trust of everyone...

[seagreen] 14/1/2023 11:22

hxxps://www.linkedin.com/in/paul-smith-7172a02/?originalSubdomain=uk

Paul Smith profile from Pinnochio's fav site

[boatman123] 14/1/2023 11:05

That's what happens when you over stretch yourself , I'm betting he has a very large short position here , too large to comfortably handle , hence the desperation in his posts , onwards and upwards I say , and maybe a lesson learnt on the way lol

[purchaseatthetop] 14/1/2023 09:57

Here is the WH Ireland summary:

[purchaseatthetop] 13/1/2023 21:18

Seagreen.

Now BEN have made that final step into paying for a broker valuation. Why would they do that? Why would they pay the broker to issue completely ridiculous valuations and even figures for the year to 31/3/23 that we all know are rubbish? Do you really think that BEN will earn $31m in the six months to 31/3/23 with a gross profit of $18m? That is what the BoD have paid for them to release. Paid.

Funny. Sad. EUAlike