Bens Creek Share Discussion Threads

[seagreen] 12/12/2023 15:15

My point stands.

It is and always has been one of your many and yet another of your pure unsubstantiated conjecture guesses.

Whilst there is some logic in yur guess there is no proof and counter logic exists that NS went through September's maintenance causing a delay in trains and Avanni have put in another order. With the increasing market demand from India NS are smart enough not to take such an insular attitude that you sugest.

[purchaseatthetop] 12/12/2023 14:56

I remind you that I have said that only two trains a month would arrive despite the believers claiming five a month. Their own accounts tell you I am right. So that’s proof enough.

[ianio5691] 12/12/2023 14:44

But Seagreen's right PATT.

Purely conjecture on your part.
Post proof or admit - You are making it up about NS.

[purchaseatthetop] 12/12/2023 14:23

Seagreen. So BEN is not a UK based Company? This is not about the operational staff. It is all about business relationships. That proves my point. You don’t understand the market.

[seagreen] 12/12/2023 14:04

Please provide factual proof.

In the absence of which I will assume it is just another of your "strong" oppinions with no factual evidence.

The staff are not "limey" as you put it they are providing jobs for the local community and they will be well aware of that.

purchaseatthetop
11 Dec '23 - 18:23 - 10837 of 10842
0 2 0
Seagreen. You don’t understand the market. The limiting factor for sny coal mine in WV right now is availability of coal trains. NS allocate trains depending on their relationship with sales companies and mines. In the pecking order of who counts, well, Bens Creek doesn’t count. They are Limey tiddlers who everybody laughs at. Unless they can sell them a broken Highwall miner.

[purchaseatthetop] 12/12/2023 08:49

Actually papillon I predicted it would rise which is why I did not takeout a sell. It is being very well pumped and the story is very good. But eventually it will go pop. Underneath it is stinking and rotten.

Just like with BEN I look at the minute details and can see the future. Sometimes quickly, sometimes slower. But eventually right.

[papillon] 11/12/2023 20:43

I have no intention of buying shares in CSFS, purchaseatthetop. You may be correct and it is a legal scam, I have no idea! However you never predicted that the CSFS share price would more than triple from it's lows. You said it would go down, not up!

[papillon] 11/12/2023 19:58

O/T
purchaseatthetop got CSFS completely wrong! CSFS share price has more than tripled since he started deramping it! 😂

PS I have no idea whether he's right, or wrong, regarding BEN.

[purchaseatthetop] 11/12/2023 18:23

Seagreen. You don’t understand the market. The limiting factor for sny coal mine in WV right now is availability of coal trains. NS allocate trains depending on their relationship with sales companies and mines. In the pecking order of who counts, well, Bens Creek doesn’t count. They are Limey tiddlers who everybody laughs at. Unless they can sell them a broken Highwall miner.

[seagreen] 11/12/2023 16:43

Onwards and upwards 8-)

[bbmsionlypostafter mk2] 11/12/2023 10:20

Except your wife.

[purchaseatthetop] 10/12/2023 06:31

21/10/21 RNS
“("Integrity"). The agreement is for approximately 22,000 US Short ton ("ST") of product per month”

That is two trains a month. There is no second offtake agreement. The 30/11/23 RNS says

“The delivery of the Coal is expected to be made, subject to train delays, no later than the end of January 2024. This sale is in addition to existing and ongoing business.”

That is a planned sale with an “expected̶1; and “subject to” included. Where is Avani going to get the trains from? Only NS. Who have other priorities than a Singapore coal trade company.

[cjohn] 09/12/2023 20:51

Hello Patt,

It's not a question of being "realistic" or "unrealistic". It's a matter of probabilities.

I reckon there's about a 30% chance of paying off Avani out of cash flow. 45% of some sort of rearrangement before the 13 month deadline.25% of a default.



- Integrity is just one of the two off-take partners. It doesn't supply the trains. NS supplies the trains.

You've imagined the two train limit.

[dudishes] 09/12/2023 11:09

Switched off after 1.5 mins.

Short again @ 12.5p.

PAT, you have confirmed research, sorry, lies.

Suggest join me with short, easy dosh.

Seagreen will no doubt answer with more spin.

How yar doing Charlie? 3am posts, doing a Barnie or what?

12.5p, you are 0.5p to the good!

[purchaseatthetop] 08/12/2023 15:32

Cjohn. I always said that BEN should have been a roaring success. It is just that it is run by short term greedy incompetent idiots. I am sure Avani will put in a decent management team or sell the plant, permits snd resource to a decent miner.

[purchaseatthetop] 08/12/2023 12:49

Yes! Let’s look forward.

$7.57m loan 11/7/23 “The Loan Notes have a term of 18 months.”

$6.5m loan 6/7/23 “ Notes have a term of 18 months and interest will roll up and be repaid as a bullet at the maturity of the Loan Note (the "Repayment Date").”
And
“ Bens Creek Operations LLC, a 100% owned subsidiary of the Company, unconditionally and irrevocably guarantees to the Lender the punctual payment to them by the Company of all monies payable under the provisions of the Loan Notes”
So cross guaranteed by Bens Creek Operations that owns all the plant and permits.

$6.5m loan 26/6/23 “ The Company also announces that the Group has raised $6,500,000 (equivalent to c. £5,110,000 based on current exchanges rates) through Bens Creek Operations LLC ("Bens Creek Operations"), a 100% owned subsidiary of the Company, issuing unsecured loan notes (the "Loan Notes" or the "Notes") to Avani Resources Pte Ltd (the "Lender" or "Avani "), the Company's largest shareholder.”

$20.57m loan increasing at $3.7m per annum is repayable around Dec 24 and everything is secured on it.

Looking forward I think it is 12 months till Avani take the lot.

[seagreen] 08/12/2023 12:40

I have covered my views on that.
Time to look forward

[purchaseatthetop] 08/12/2023 06:59

seagree. you say "Of course the first bonus was when everything was looking rosy in the garden. Likewise he had put a hell of a lot of work prior to the IPO."

So, was everything rosy in the garden when he paid himself another bonus of $816,928 in the year to 31/3/23? as disclosed in the accounts in note 31? A year with a loss of $24.1m and in which the share price had dropped from 89p on 31/3/22 to 17p on 31/3/23.

"Short term benefits paid to Adam Wilson include a discretionary bonus of $816,928 (£660,000) 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 (£100,000). 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."

[seagreen] 07/12/2023 21:31

He also addresses the bonus issue as it was the remuneration committee who bench marked it against other CEO positions. Of course the first bonus was when everything was looking rosy in the garden. Likewise he had put a hell of a lot of work prior to the IPO.

Its a tough one as you can hardly hire a CEO and pay him below market rate.

I also felt/hoped/posted that the second year's bonus would be more modest or deferred or taken in stock as the company was struggling.

But at the end of the day despite people's political views he is being paid market rate and he has performed miracles to keep the lights on and if he suceeds it will be worth every penny.

If you refused to invest in any company where the CEO appeared to be being paid large sums of money to normal people you would not be able to invest in a hell of a lot of companies.

What is clear is that a lot of people have a perma grudge against Adam and continue to post biased negative narative and maintain a 24/7 negative campaign against him, often (in my oppinion but not yours) verging on the disingenious or even ficticous as you must know.

At the end of the day the shareholders hope that he now succeeds and delivers where as the short sellers maintain a 24/7 negative spin and hope he fails.

There is no point falling out about it as that is the truth.