Bens Creek Share Discussion Threads

[normawoods] 06/10/2023 17:35

Baffling the amount of negative research Pratt puts into Ben yet he continues buying scam enet 😅

[bad gateway] 06/10/2023 16:36

That seems a bit mean spirited pap your wife has to.
We're still agreeing however you bleat copper is scarcer in the ground as you say it also has to be extracted from the rock using extremely expensive processes which make it dearer to mine and purchase.
Coal is pretty much dug up and washed with much fewer stages so making it very much cheaper to mine and the value of the commodity is very much less.

In your original post all were doing was trying to compare apples and oranges in order to look clever and diss another poster who was simply comparing coal type to coal type it hasn't worked live with it.

[papillon] 06/10/2023 16:17

"Typical copper mines today have ore grades of only 0.6 percent copper. Since metal concentrations occur at much lower grades, the copper concentrations are measured in parts per million (ppm). If a sample has 1ppm copper, this means that in 1 million lbs of rock, there is 1 lb of copper."

The reason why Copper is expensive to mine relative to Met Coal, bad gateway, is because of it's SCARCITY!
Copper grades are measured in parts per million. That is obviously not the case with Met Coal!
Use your little grey cells bad gateway!.
bad gateway? Filtered. I can't be bothered to converse with a moron.

[bad gateway] 06/10/2023 16:16

Don't be silly yourself pap.
All you've done is repeat what I told you.

"Can see you like to look intelligent pap but its not the scarcity that makes copper so expensive its the cost to mine."

Copper is much more expensive to mine as we both now agree on and that's why its dearer so lets leave it at that rather than you dribble on further until you get to the point you realise you've actually agreed with me.

[papillon] 06/10/2023 16:02

Don't be silly, bad gateway. Your post shows a lack of intelligence on your part. Copper is relatively expensive to mine, as opposed to Met Coal, because the percentage of Copper in the soil, even at the best deposits, is a fraction of that of Met Coal. It's a fact that Copper is scarce compared with Met Coal hence the massive price difference.
I've studied chemistry and mathematics. You obviously haven't.

[boatman123] 06/10/2023 14:56

Desperate , shame you didn't put this much energy into doing research into enet , you may not have lost so much money , 60p to less than a penny , great investment that is Sherlock

[purchaseatthetop] 06/10/2023 14:48

Penstocks is listing questions for the BoD on the LSE board' Here are two:

1) What was the broker % fee with Integrity? What is it now with Avani?

At least 33% as shown above.

2) Were trucked sales to CSX trains included in the end of year report? How much extra does trucking it to CSX trains cost compared to using the onsite fast flood loadout with NS trains?

Note 7 to the accounts says "Revenue was derived from one external customer. This revenue was all generated in the USA." So, actually there were zero sales to CSX. None. All that coal being trucked nonsense was utter nonsense. Does everybody remember the idea that coal was being trucked round trips of 250 miles over mountain roads in winter? 550 trips to fill a train. Well, there were no trucks, no customer and no train.

[purchaseatthetop] 06/10/2023 14:35

Lets take a look at what Integritys percent of the headline revenue is:

Warrior Met Coal Quarterly reports:
$256.93 revenue per short ton in 3 months to 31/3/23


$227.21 revenue per short ton in 3 months to 31/12/22


Therefore average of about $241 per short ton in the six months

In the same period BEN sold $24.8m of coal ($42.2m less first half $17.4m) which was 150k tons of coal (236k less first half 86k tons) so averaged $165 a short ton.

Therefore, unless somebody can point out the obvious flaw in the data then BEN get $165 as compared to Warrior who get $241. So a staggering 32% goes to Integrity.

Quite how BEN can ever make money giving away that much is beyond me.

[purchaseatthetop] 06/10/2023 09:22

Warrior Met coal also reporting increases in output and sales



Q2 23 was 1.8m short tons, 15% up on 1.5m Q2 22.

Their quarterly reports are also excellent.

[purchaseatthetop] 06/10/2023 09:12

Yes, but papillon, what weighs more, a ton of lead or a ton of feathers?

Looking at the last few days trading it seems to me that they are forward selling the upcoming placing at about 12p. Obviously I don’t know that but the cash position makes that a near certainty.

[bad gateway] 06/10/2023 08:08

Can see you like to look intelligent pap but its not the scarcity that makes copper so expensive its the cost to mine.

"Copper mining has become an especially capital-intensive industry – the average capital intensity for a new copper mine in 2000 was between US$4,000-5,000 to build the capacity to produce a tonne of copper, in 2012 capital intensity was $10,000/t, on average, for new projects. Today, building a new copper mine can cost up to $44,000 per tonne of production, an AOTH analysis has found."

[papillon] 06/10/2023 07:44

"Pap quite but met coal is scarce in or out of a recession"

Met Coal might be in demand, seagreen, but it's definitely not scarce. That's why it's priced in tons. Now Copper is also in demand, but it's priced in pounds. Why? Because it's relatively scarce.
Met Coal is around $240 per ton, whilst Copper is around $3.5 per pound; that's around $7500 per ton. Hence Copper is around 30 times the price of Met Coal.
The price of any commodity is determined by it's scarcity and demand. By that metric Met Coal is not scarce.

[purchaseatthetop] 06/10/2023 06:46

I like the reasons for the bonuses:

"Short term benefits paid to Adam Wilson include a discretionary bonus of $816,928 (GBP660,000) in connection with his employment contract with Bens Creek Operations WV LLC. Short term benefits paid to Raju Haldankar includes a discretionary bonus of $123,777 (GBP100,000). The discretionary bonuses paid to both Adam Wilson and Raju Haldankar were in recognition of their efforts in managing the affairs of the Group's subsidiaries including the rapid development of the business."

Going Concern audit:

The parent company has a material net investment in
subsidiaries in the parent company statement of financial
position of $26,684,119. The subsidiaries are currently loss
making and therefore there is a risk that the intragroup
receivable may not be fully recoverable. There is also a
risk that the investment in subsidiaries may be
overstated.
We determined that the valuation of net investments is a
key audit matter as the estimated recoverable amount of
investments is subjective due to the inherent uncertainty
involved in forecasting and discounting future cashflows

So, $800k+ bonus when the business is burning cash for running Bens Creek Operations so that it is loss making and a material uncertainty for going concern!!

[seagreen] 06/10/2023 01:31

dudishes

Do hope you have closed your short hate to see my best mate lose moneyy


cheers

[seagreen] 05/10/2023 23:29

Pap quite but met coal is scarce in or out of a recession