Bens Creek Share Discussion Threads

[bad gateway] 02/3/2023 11:06

and then of course there was the flood. lol

Quick question whats the lag time between delivery of coal and BEN being paid for same?

[bad gateway] 02/3/2023 10:52

Only a cursory look at the half yr but 3 points that may help them stand out straight away.

.First sales delivered by train in June 2022.

· Non-recurring remediation and associated start-up costs incurred during the period.

We also expect that as production levels rise that we will see economies of scale per clean ton start to take effect which should assist us in our drive for profitability.

[purchaseatthetop] 02/3/2023 10:41

Half year report.

Cost of goods sold $12.2m
Other cost of good sold $4.3m
Total cost of goods sold $16.5m

Tons sold clean 86,717 so cost per ton $190

Revenue for 86,717 tons sold is $17.4m so revenue per ton is $200 per ton.

Just how BEN is supposed to be profitable on a margin of $10 a ton is weird.

[bad gateway] 02/3/2023 10:36

You directed me to the 30/9/22 accts patt which is where I went.

"You need to start asking yourselves what will BEN do with an average cost per ton mined of $190 a ton per the 30/9/22 accounts."

One point on the Integrity deal 22K/month isn't the ceiling its the minimum delivery.

"Having supplied raw coal to Integrity since the commencement of production, Bens Creek intends to now supply them with 264,000 tonnes with a minimum monthly consignment of 22,000 clean tonnes,"

[purchaseatthetop] 02/3/2023 10:26

Bad gateway. Please read the Chairman’s Report in the 20/12/22 Half Year Report…

“ we produced 99,928 cleans tons and shipped 86,717 cleans tons in the period on eight trains”.

You really need to understand what they do before writing nonsense.

[bad gateway] 02/3/2023 10:21

re the 30% claim he made guess it was silly to take it at face value.
Is his whole claim based on the fact that they only got an average of $200/T whilst they were selling largely unwashed coal to Integrity as he posted above?
ie-

purchaseatthetop 2 Mar '23 - 07:53 - 8987 of 8999
"Remember that BEN only get around 70% of the headline Argus revenue per ton because Integrity take a big slice of that. In the six months to 30/9/22 the average revenue per ton was $200 when average Argus price was nearly $300 a ton."

[purchaseatthetop] 02/3/2023 10:20

Bad gateway.
ROM coal was o only sold up to 31/3/22. See 14/3/22 RNS. All coal sales in six months to 30/9/22 were clean coal.
There were four trains in January 23. That was because there were two delayed from Dec 22. The offtake agreement with Integrity is for two trains a month so 22k tons. That agreement has been confirmed by RNS as continuing unchanged.
There has been no RNS on any trucked coal sales. It would take 550 truck trips of 100 miles round trip each to fill one train. There is a huge shortage of coal trucks just like coal trains so I would assume the worst given no RNS.

My posts are not deceptive. Adam is deceptive.

[bad gateway] 02/3/2023 09:48

His posts do seem a bit deceptive.
Above he was quoting the 30/9/22 results and stating that BEN were only getting an average of $200 for the period whilst the Argus price was $300 yet at that time they were selling unwashed coke so would have thought it have made sense they averaged less than the washed price?

"The beginning of 2022, saw the Company generating revenue by the selling raw met coal to its offtake partner, Integrity. Whilst our wash and preparation plant were still undergoing repairs, Integrity had substantial demand for either raw or clean met coal. This enabled us to supply our production of raw High Vol B met coal from January to March 2022 by transporting our product to Integrity's own wash and preparation plant.

During March 2022, the Group's own preparation and wash plant become fully operational following the completion of remediation works and upgrades, which initially commenced in January 2021. This has allowed the phased processing of raw met coal into clean met coal ready for sale."

Will be more interested in revenue/profits going forward myself as they leave start up phase.

On the bright side its been reported by the train watcher on twitter that these had 4 trains in Jan and one csx train of 10KT giving 54,000T's total for Jan. Thats not bad at all- $16.2M at $300/tonne and taking his 30% off still gives well over $11M.
Be good to have it confirmed the trains are running well again but til then the stockpiles building so reliability of supply from BEN won't be the issue it was during start up phase at least.

[melegramforttongo] 02/3/2023 09:46

Bitter lemon 🍋 boy

[seagreen] 02/3/2023 09:39

Ohojim glad to see your best friend is still having truth issues I was waiting for someone to spot he was quoting thermal coal forecasts. ENET have already stated their total annual revenue will be the equivalent of one or two train loads of met coal. So loss will be 6 or 8 million. They might break even in 2023 if they are lucky

[drew lonmenob] 02/3/2023 09:38

BEN's share price

[seagreen] 02/3/2023 09:28

Badgateway the last time he spun the yarn about forecasting the collapse in met coal he was quoting thermal coal forecasts which is in plentiful supply. The acid queen gets very confused the pressure of being wrong I guess.Of course the price we were getting in was locked in whist the Russians were dumping just a minor detail we are now nearer to spot. He seems besotted with averages so they distort the present day reality. Probably why his forecasting is so sub average and he appears sub normal.

[bad gateway] 02/3/2023 09:13

Fitch seems a bit more bullish on coking coal prices than our resident ambulance driver.lol

Fitch Solutions has increased its 2023 price forecast for Australian coking coal from $US300 per tonne* to $US350 per tonne, however prices are expected to trail off in coming years.

Fitch forecasts Australian coking coal prices to average $US300 per tonne in 2024, $US280 per tonne in 2025, $US260 per tonne in 2026 and $US250 per tonne in 2027.
"hTTps://www.australianresourcesandinvestment.com.au/2023/02/08/the-coking-coal-outlook-for-2023/"

Glad to help.

[ohojim] 02/3/2023 08:42

Poor seagreen posting on the wrong thread this morning. Good job I'm here to help him put it on the right thread.


seagreen 2 Mar '23 - 08:28 - 15000 of 15001

Looking forward to those year end accounts showing another wapping jaw dropping mind blowing loss....be a great reality check

Good job I am here to remind you

[purchaseatthetop] 02/3/2023 07:53

Thermal coal is now below $192 a ton having fallen from over $400.
Met coal will start doing to same soon. Might have just started.
You need to start asking yourselves what will BEN do with an average cost per ton mined of $190 a ton per the 30/9/22 accounts.
Remember that BEN only get around 70% of the headline Argus revenue per ton because Integrity take a big slice of that. In the six months to 30/9/22 the average revenue per ton was $200 when average Argus price was nearly $300 a ton.

But as Adam is not telling you anything at least I am here to raise these issues. Glad to help.

[seagreen] 01/3/2023 18:33

Your totally obsessed you missed out......get over it...
Just another foul mouthed biased CFC yob......

[purchaseatthetop] 01/3/2023 14:30

Ohojim. Seagreen has no profits. I had a look at his posts and he was still buying at 50p. He was also telling everybody to keep on buying at 90p.

So, either he has not sold and is massively underwater or he was selling while telling others to buy and is a coconut. One of the two.

[ohojim] 01/3/2023 14:14

...But I have a photo of you to prove it...

[seagreen] 01/3/2023 14:07

Just pointing out I am not a weatherspoons fanatic

[ohojim] 01/3/2023 13:48

You do keep having to steer the conversation to your profits. The more often you say that you took profits, the less inclined I am to believe you. As for my shirt, I have many shirts but only some are at the cleaners.

[seagreen] 01/3/2023 13:42

I took all of my profits Mr Ohojim (I have a tiny tiny tiny bit I put back in at 24p) and I am just waiting patiently and not a single penny will go into that dodgy ENET that you have both lost your shirts on

Carry on

[ohojim] 01/3/2023 13:41

How can there be? You assured us that weather cannot move.