Bens Creek Share Discussion Threads

[serratia] 08/10/2023 21:23

O/T,

MCM coal mining costs.

[purchaseatthetop] 08/10/2023 21:16

Yes papillon. But when you were a child can you remember the impact of the Siege of Sevastopol during the Crimean War?

[papillon] 08/10/2023 19:53

The current troubling situation in the Middle East, especially if it escalates, could be good news for the Gold price.

[bad gateway] 08/10/2023 19:44

Well done seagreen you've got paps seal of approval, you should be able to sleep a little easier tonight knowing your opinion is validated.😂

re Aus met price its been at a premium to US for a while but nowhere near this much.
I'm thinking its China -as ever- report was out recently that they've hit peak production and are in decline and given they're still building up their war machine they'll need coking coal for the steel still.


"However, the rise in domestic production has now stopped, and there are even signs of a decrease in production. The reasons behind this are not entirely clear and could be related to mining capacity being maxed out.

Without adjusting for quality, China produces around 50% of the world’s coal production and 25% of the world’s iron ore production. This is potentially a key development for commodity fundamentals, which could support commodity prices remaining higher for longer."

Source: DBX Commodities

[papillon] 08/10/2023 19:43

The current situation in the Middle East is very worrying. It reminds me of exactly 50 years ago and the Yom Kippur war. Like in 1973 the current violent situation could have far reaching economic and political consequences for the rest of us especially if other groups and states get involved. I remember the economic and political aftereffects of the Yom Kippur war.
The Labour Party went on to win the 1974 General Election, rather like Keir Starmer is the likely 2024 election winner. However the economic aftereffects and policy decisions meant that the then Chancellor, Dennis Healey, in 1976, had to resort to the lender of last resort, the IMF, for a bailout £3bn (chicken feed now because of 50 years of inflation). The Labour government had to comply with strict austerity measures in order to obtain the money. This no doubt led to the industrial strife and the so called winter of discontent of 1978/1979 and Margaret Thatcher as PM.

[papillon] 08/10/2023 19:20

"Maybe because if not scarce it's in huge demand or in short supply!

What I actually meant was met coal takes ages to form so it is far rarer than thermal coal."

You are correct, seagreen.

[seagreen] 08/10/2023 19:02

BG I wondered if it was not AUS$ but it is definitely US$ I also wondered if Australian coking coal traded at a premium to US High vol met coal but I can not see anything obviously,,,(will try and find out)

All very encouraging not sure why you would be short of a met coal producer in a rising markey for met coal.........no wonder Avani took 30% of BEN at 18p they must have thought all their christmases had come early

Happy days are here again....

[bad gateway] 08/10/2023 18:02

pap was just stating what everybody knows, metals are found in low quantities in the earth. Gold s rare copper is common and moving into oversupply which as a dictionary definition would be the opposite of scarce.

re the aus price Oct future reflect the same.

[seagreen] 08/10/2023 17:39

Maybe because if not scarce it's in huge demand or in short supply! What I actually meant was met coal takes ages to form so it is far rarer than thermal coal. But I bow to Paps knowledge he tends to be correct I

[bad gateway] 08/10/2023 13:51

Update from coalhub yesterday. Seems very dear?

"Australian HCC metallurgical coal prices soared to 360 USD/t on tight supply on the spot market and strong demand from consumers in Asia and India. Australian authorities expect metallurgical coal imports by Chinese consumers to increase from 50 mio t in 2023 up to 54 mio t in 2024-2025, and by Indian buyers from 70 mio t in 2023 to 73 mio t in 2024-2025. Imports from Japan and South Korea are forecasted to remain flat (41 mio t and 34 mio t in 2023-2025, respectively). Meanwhile, Australian metallurgical coal shipments in 2023 and 2024 are estimated at 172 mio t (+15 mio t or +9.6% vs. 2022)."

[purchaseatthetop] 08/10/2023 07:22

In post 10548 I highlighted that Integrity took around 33% of the headline met coal price by benchmarking BEN average revenue per ton of $165 as compared to Warrior Met coal who averaged $256 per ton in the three months to 31/3/23 snd $227 in the three months to 31/12/22.

In the most recent quarter to 30/6/23 Warrior averaged only $208.56 per short ton


That means BEN might be getting only $140 per ton in those three months so no wonder no quarterly report will be issued. The gross margin loss would be huge but no doubt Adam and the Directors will be awarding themselves huge discretionary bonuses for emptying the bins or suchlike.

David Harris, the chair of the remuneration committee, was paid a $99k bonus for attending four board meetings taking his remuneration to a staggering $181.893 for the year. But he was underpaid compared to MR Fryer, another NED eho got $232k for four board meetings.

[purchaseatthetop] 07/10/2023 12:36

The other interesting thing that Alpha Met Resources quarterly reports highlight is the different met coal prices generated depending where they do.



The last quarter to 30/6/23 they got $194 a ton for domestic met coal but only $160 for export. Avani will be export coal.

Wouldn’t a proper quarterly update be great for investors.

[normawoods] 07/10/2023 11:19

Back cleaning villas again Patt Yea?. Last week you were an ambulance driver, previous week a bookkeeper 😅

[normawoods] 07/10/2023 10:39

Wouldn't want to be in an Israeli company like enet with todays news

[determined] 07/10/2023 09:48

copper IS becoming scarcer, as discovery grades are falling, the low hanging fruit has been picked.

Naturally lower grades are more expensive to mine.

Mat coal on the otherhand is in abundance in Australia, China, Russia, Ukraine, and Canada, in thick seams, no grade degredation.

[bbmsionlypostafter mk2] 07/10/2023 01:25

You talk too much. Give us a break, just STFU for a while.

[normawoods] 06/10/2023 19:13

Seagreen spare a thought for Pratt, he should be locked up in a mental institution 😅

[seagreen] 06/10/2023 17:40

Norma I am almost driven to tears ...a broken man

[seagreen] 06/10/2023 17:38

The bashers views are no longer compelling even desperate

Time to crack open some Ben and Jerry's fudge brown trousers scream this wkend 8-)