Bens Creek Share Discussion Threads

[aimscam1] 18/3/2024 20:40

So many scams on AIM now all these mining stocks a a death warrant for your cash . Fraud everywhere.

[purchaseatthetop] 18/3/2024 14:31

Storey was part of the plan. BEN could not pay board rampers but Storey could. Everybody made millions while the excitement grew.
BEN was doomed from admission. Because AW decided to use Highwall mining instead of underground mining. That was to maximise insiders profits and bonuses. Perfectly legal. He did say for example that the revenue per ton was linked to the MetB high vol Hampton price. He did not say it was only 55% of that price.

[papillon] 18/3/2024 12:40

"I am sure that drowning in debt/liabilities cash guzzling Ben’s Creek (BEN) will go bust whatever happens but if Donald Trump wins in November, as I think probable, it might just have a chance. Ben’s has not updated folks here in the UK on what creepy Joe Biden plans for coal but it is grim."

You can tell from this who TW supports out of Trump & Biden! 😂😂

BEN is doomed and has been since early summer 2022 when my log chart turned Strongly Bearish. The BEN bubble burst when the Met Coal price bubble burst. Storey was no fool as he soon parted company from BEN. Only the naive, like Penstocks, kept the faith.

[purchaseatthetop] 17/3/2024 13:01

I had a sell.

[jarega85] 17/3/2024 12:53

Did you short here purchase? You must have made some dollar if you did!

[z1co] 17/3/2024 10:18

For those that do not know who PATT the lying fraudster really is , the following link will help:



PATT's real name is Richard Bobath

Conman jailed for swindling £41,000 working at medical charities allowed to work as NHS ambulance driver
Richard Bobath, 54, served ­almost two years for fraud after duping the British Polio Fellowship, which helps desperately sick people, and the British Institute of Radiology


ByDan WarburtonSenior News Reporter

22:31,10 SEP 2016
|

A conman jailed for swindling £41,000 while working at medical charities is now being allowed to work as an NHS ambulance driver.

Richard Bobath, 54, served ­almost two years for fraud after duping the British Polio Fellowship, which helps desperately sick people, and the British Institute of Radiology.

[john henry] 16/3/2024 09:40

If HVB remains at these levels or lower the mine will be mothballed

[purchaseatthetop] 15/3/2024 21:16

In the six months to 30/9/23 they sold about 190k toms of coal for $23.5m which is $124 a ton. So the $120 cap is only a small drop on their previous revenue per ton. The trouble is that in the six months to 30/9/23 they lost $13.6m or $9m excluding non cash deprn and depletion.

So, how will they deal with losing $1.5m every month? They won’t.

[bad gateway] 15/3/2024 20:08

You maybe right but I thought that avani were only paying spot not over and their agreement is to be paid a royalty from net sales price achieved by BEN at the mine itself..

"Repayment of the WCF will be in tranches based on a royalty from coal sales made by Bens Creek Operations during the term of the WCF. The repayment amount will be the excess of $120 short ton for coal sales achieved by BCO from the mine during the term of the WCF, to any seller, including the Lender. The amount shall be paid within 3 working days of the date when the coal is dispatched from the mine which is when Bens Creek Operations receives final payment for the coal"

In the audioboom interview BEN were quite clear that in the Summer when met collapsed to $191/metric tonnes they only received c.$100/short tonne at the mine and were lossmaking.
If they're again around $20 below the $120 net stipulated in their agreement then aren't they going to be in default as well as in loss?

No's start around 1min 40 secs odd.

[purchaseatthetop] 15/3/2024 16:57

The coal price makes no difference now because they only get $120 a ton whatever they sell. The question is how on earth they can begin to operate with such a low price as they will be literally burning cash.

My guess is that Avani will take security over not just the equipment snd permits and rights but also the coal stockpile. Once that is done they will close the PLC.

[bad gateway] 15/3/2024 16:14

HVA $225 HVB $195. Will they shutter the mine?

[papillon] 08/3/2024 21:52

My only share, GPM, has risen from the 24p open on Friday March 1st to close today, Friday 8th March, @ 30.5p on the back of a rising Gold price. My long term Gold price chart turned Strongly Bullish @ the start of 2023 (Golden Cross on the chart) and the Gold price has finally broken out of an almost 4 year period of going sideways. Gold miners have been described as being "stupidly cheap".
My longer term Gold price chart is implying a rise to $2600+ and then continuing on to $300⁰+.
PS GPM is an investment trust with over 60 shareholdings in junior Gold miners (over 70% of fund) and Silver miners. Such a fund is less dangerous than holding individual junior miners.

[purchaseatthetop] 06/3/2024 17:27

Why on earth has the share risen today? I expected a complete collapse because basically the Game Theory conclusion that I had forecast panned out exactly. The temporary provision of liquidity where there was no next best slternative. Even worse, nothing above $120 a ton goes to BEN. With full security over relevant assets too.

Why has it risen? Can’t understand it.

[papillon] 06/3/2024 16:18

If I don't want to read a book, I don't buy it. If I don't want to watch a TV programme I either change channels, or switch off the TV. Similarly if I don't want to read what a boring poster writes I filter him/her. Simples!

[jbravo2] 06/3/2024 15:07

:D
“I have him on filter so I don’t have to read his posts but I make an effort to read his posts.”

Everyone knows you’re just another one of the countless people who pretend to put others on filter.
ADVFN is full of them.
Didn’t you ever consider that if you get wound up so easily by other people that a BB may not be the place for you? Bless.

[papillon] 06/3/2024 14:26

I do have purchaseatthetop on filter, that way I don't get bored having to read his ramping nonsense on ENET. However I do like to see what he's posted about me so when I see that he has posted just after me I look at his profile and that shows his last 10 most recent posts. It's not rocket science!! 🤣 Even a dope like purchaseatthetop can surely understand that? Maybe not!

PS BEN was oversold on the 14 day RSI indicator so not surprised by today's rise

[purchaseatthetop] 06/3/2024 07:16

“Repayment of the WCF will be in tranches based on a royalty from coal sales made by Bens Creek Operations during the term of the WCF. The repayment amount will be the excess of $120 short ton for coal sales achieved by BCO from the mine during the term of the WCF, to any seller, including the Lender. The amount shall be paid within 3 working days of the date when the coal is dispatched from the mine “

So now BEN will only get $120 a ton max. Take out other royalties and taxes and that is down to $105 a ton. Take out transport and now they get $60 a ton. Their cost per ton to mine is around $130 a ton.

So, targets set that are impossible to achieve and everything now secured for Avani.
“Pursuant to the terms of the Agreement, the Loan Note and the Working Capital Facility now authorise the Lender to secure the repayment obligations by taking and perfecting a security interest in and to certain of the Company's assets.”

[purchaseatthetop] 06/3/2024 04:57

On BEN we await the curtain fall with the new Bens Creek Operstions LLC closing down the operation in the USA. Coal prices where they are means profitable mining is impossible using Highwall mining (while proper miners like Warrior Met Coal spew out cash) and the company cannot sustain the cash burn.

I expect Megahighwall will leave Bens Creek and they will use the huge coal stockpile to repay some of the debts. Permits and equipment will go a new company and another chapter in the endless succession of bankruptcies at Bens Creek will be completed. Adam Wilson will reappear in three years time for a rinse and repeat.

[bad gateway] 05/3/2024 14:57

Strange to see the bears arguing so much with the share price at this level. Would have thought you'd all be busy congratulating each other instead I'm leaving the thread with mental images of pap tearing round on his zimmerframe trying to stuff incontinence pads down an ambulance drivers throat.


Iron ore drop doesn't look as savage as the ft is painting. There are reports of Chinese shipbuilding taking over from housing market for demand so may not crash.

hTTtps://www.barchart.com/futures/quotes/TRY00/technical-chart?plot=LINE&volume=contract&data=WN&density=X&pricesOn=1&asPctChange=0&logscale=0&sym=TRY00&grid=1&height=500&studyheight=100