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BEN Bens Creek Group Plc

0.90 (7.44%)
07 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bens Creek Group Plc LSE:BEN London Ordinary Share GB00BP814F22 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.90 7.44% 13.00 1,149,653 11:00:15
Bid Price Offer Price High Price Low Price Open Price
12.00 14.00 13.50 11.75 11.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Bitmns Coal,lignite Surf Mng 42.21M -24.17M -0.0686 -1.90 45.77M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:53 O 150,000 13.00 GBX

Bens Creek (BEN) Latest News

Bens Creek (BEN) Discussions and Chat

Bens Creek Forums and Chat

Date Time Title Posts
07/12/202321:31BENS CREEK BARGAIN OF THE CENTURY, Highly Profitable10,824
29/11/202310:04Bens Creek 2023 in full production1,221
28/11/202312:50Bens Creek without convicted criminal (purchase at the top)45
27/11/202317:11Bens Creek to infinity and beyond!60
15/11/202308:15BEN great story1

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Bens Creek (BEN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-07 17:06:5313.00150,00019,500.00O
2023-12-07 16:42:5213.0050,0006,500.00O
2023-12-07 16:39:1812.0025,0003,000.00O
2023-12-07 15:57:1713.2525,0003,312.50O
2023-12-07 15:01:2712.3620425.20O

Bens Creek (BEN) Top Chat Posts

Top Posts
Posted at 07/12/2023 08:20 by Bens Creek Daily Update
Bens Creek Group Plc is listed in the Bitmns Coal,lignite Surf Mng sector of the London Stock Exchange with ticker BEN. The last closing price for Bens Creek was 12.10p.
Bens Creek currently has 352,070,880 shares in issue. The market capitalisation of Bens Creek is £45,769,214.
Bens Creek has a price to earnings ratio (PE ratio) of -1.90.
This morning BEN shares opened at 11.75p
Posted at 07/12/2023 16:57 by papillon
Even relatively badly run Met Coal miners can be profitable if the Met Coal price is high enough.
I also posted that the Met Coal price is the primary driving force behind the BEN share price performance, but it's obviously not the only factor.

PS I know nothing about coal mining so I have no idea whether BEN is badly run. I do agree that the CEO makes promises that are not fulfilled. The BEN RNS's highlight that.
Posted at 07/12/2023 14:37 by papillon
Interesting post by CJohn,
I know nothing about coal mining, but agree with him that the survival of BEN ultimately depends on the Met Coal price. I have said that consistently since I first looked at BEN in the summer of 2022. The performance of the BEN share price since it floated is primarily a function of the Met Coal price and how investors forsee it's future direction.
Posted at 06/12/2023 18:24 by purchaseatthetop
A week late on 14/3/22 they RNSd

Bens Creek (AIM:BEN), the owner of a recently re-opened metallurgical coal mine in North America supplying the steel industry, announces that it has become aware that the Company's largest shareholder, MBU Capital Group Limited ("MBU Capital"), had entered into a debenture ("Debenture") with Bluestar Global Capital Limited ("Bluestar") on 24 January 2022, which was filed at Companies House on 2 February 2022. Pursuant to the terms of the Debenture, assets belonging to MBU Capital were pledged as security, which included MBU Capital's entire shareholding in Bens Creek.

The Company and its Directors had no knowledge of the Debenture. The entire shareholding of MBU Capital in Bens Creek is subject to a Rule 7 lock-in until the first anniversary of the Company's admission to AIM, details of which can be found in the Company's admission document published on 13 October 2021.

Two points.
1) it was me who first identified this snd let you know a week before it became public knowledge. The first of five, yes five, RNSs that I forced out of BEN
2) this weasel statement saying “The company and its directors had no knowledge of the debenture” was laughable. Raju Haldarkar was the CFO of both MBU and BEN!!!
Posted at 06/12/2023 17:34 by purchaseatthetop
Seagreen asks why anybody should believe a word I post?

I refer you to my first post here on BEN when it was 85p odd….

Purchaseatthetop7 Mar '22 - 14:41 - 2365 of 10801 Edit
0 5 0
I know that Zak is a well respected analyst (maybe not!) but this is what my research revealed this weekend. I sat down to try to see what BEN was and if it was worth investing. You will not like my findings but here they are anyway:

MBU Capital Group Ltd was incorporated on 15/5/20 with one Director: Mohammed Iqbal. Mr Iqbal has an "interesting" Companies House history with struck off companies, liquidations, and some law cases. All civil and part of slightly edgy behaviour I am sure.

Mr Iqbal is without any doubt very bright. He saw an opportunity.

In January 2021 MBU Capital bought Bens Creek Carbon Mine:

This was an old worked mine that had gone bankrupt and was owned by the repossessing bank. Included mining licence and the unused old and rusting wash plant and equipment. No idea of the price but maybe $3m for the lot. Nobody wanted such a loss maker. But Mr Iqbal is very very bright.

Mr Iqbal created Bens Creek (BEN) and there were 350,000,000 shares of which he kept 280,000,000. The other 70,000,000 were on AIM on 19/10/21.

Clever Mr Iqbal got BEN to buy the old rusting mining equipment off MBU Capital for $10m thereby repaying his funds he paid the USA bank for the whole thing and also leaving a profit:

RNS 25/2/22:"Bens Creek has now completed all the necessary remedial works required on its preparation and wash plant. This work is in line with the Company's stated intentions to repair and upgrade its coal preparation and wash plant, originally acquired at a fair value of US$10 million."

RNS 21/10/21 "Our primary objective remains to move the first underground mine into production by the end of Q4 2021 and following our listing on AIM, we are deploying certain of the net proceeds of our placing in pursuit of this work programme and to ensure the necessary steps are taken towards meeting this primary objective for the benefit of all shareholders."

Why would the RNS specify "underground production"? Why those words. Especially as BEN have bought/leased Highwall Miners that can only be used on Open Pit mines? I look at the small details and this jumps out. All the PIs have looked at the Highwall Miners and have started thinking 40,000 tonnes per month. Possible with the Highwall Miners but these mines are small narrow wet old school West Virginia mines, not open field cuts. These cannot be used underground.

RNS 17/1/22 "The initial agreed volume with Integrity is to deliver the equivalent of 8,840 clean tons of Hi Vol B coal. Payment for this initial delivery is expected to be made over the course of the next ten days". S

So...8,840 tonnes to be delivered and paid for.

RNS 31/1/22 ""We are delighted to have received part payment for our first coal sales in accordance with the anticipated quality of our product and within the timelines previously announced."

So..part payment. So not all the 8,840 tonnes was delivered. Of course not because they cannot mine with the Highwall Miners.

I am afraid to say that I think this share is a well organised and legal fleecing of PI's. Just my view.

Modeller posted a day or two ago that the management team has forgotten more than I have ever known about mining. Lets hope so.

You see this has happened before. Adam Wilson, the BEN CEO was CEO of Atlantic Coal on AIM (ATC in 2015). They were equally bullish about the future:

Of course it was dissolved 29/10/20 after losing all the PI money:

Be very very careful. Please.

Final point. MBU Capital Group has registered a fixed and floating charge for money borrowed from Blustar Global Capital on 2/2/2022. You can see it on Companies House. For those who do not know this is a massive red flag. If the payments go into default then the shares in BEN owned by MBU Capital Group can be sold by Blustar and you would never know. Been done before.

Good luck and this is just my opinion.
Posted at 01/12/2023 15:14 by papillon
I'm ignoring Tweedledum & Tweedledee, seagreen. From now on they are permanently filtered. I'm not rising to their "bait" again.
I've come to the conclusion that purchaseatthetop is the charity thief, Richard Bobath and that ohojim is a supporter of said charity thief. Perhaps they're related? Who knows and who cares?
purchaseatthetop is a compulsive liar and fantasist. I've decided he's a sociopath.
I hope BEN comes good for you seagreen, but it's not for me.

Edit. The BEN share price is currently up against the resistance level determined by the low of 5 months ago.
Posted at 29/11/2023 03:19 by papillon
10p was a major support level for the BEN share price It's now a major resistance level.
I know nothing about coal mining. I'm just going by the chart.
Posted at 27/10/2023 17:50 by papillon
free stock charts from

This chart and chart indicators implies that the BEN share price has further to fall in the short term. Possibly falling to test support @ 10p? Warning; there is no guarantee that this chart based prediction will be proved correct! News trumps charts as SVE has proved today.
Posted at 12/10/2023 22:27 by papillon
Regarding the BEN chart, seagreen. The potentially bearish short term H&S chart pattern I highlighted has yet to form. You can't predict it will form. You have to await it's formation. Even then the implied target share price is only a probability. It's not set in stone.
As I've posted before I know next to nothing about coal mining. I'm not invested in BEN. Unfortunately my BEN long term chart is still bearish. That, of course, could change.
Posted at 11/10/2023 15:09 by purchaseatthetop
I wonder what Avani really want from BEN and why they have a 29.9% shareholding. I don't think it is because they rate the management. But why?

2/5/23 RNS: "In addition Avani has undertaken in the Avani Relationship Agreement that transactions between the Company and Avani shall be in the best interests of the Company and at arm's length and on normal commercial terms."

So, Avani will be buying coal from BEN for export to India etc. The price for export coal to India is about $65 a ton less than the Platts headline price so the returns for BEN will be very low. At 31/3/23 BEN already had a stock of 57k clean tons of coal (they kept that number off the accounts) and that would have risen much further since unless they have been selling to Avani because I think Integrity would only have their offtake two trains a month.

26/6/23 RNS: "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."

7/7/23 RNS: "On 7 July 2023 Bens Creek entered into an unsecured loan note agreement with the Avani for a total subscription of $6.5 million of Loan Notes. The Loan 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"

Therefore Avani have all the assets of BEN and the permits etc secured on these loans.

What I think they are planning is to suck as much really cheap coal out of BEN for the next 18 months meaning that when the loans cannot be repaid in 18 months time they have a lien on everything and can leave PIs high and dry. it has certainly been set up to make that possible.

I just throw these ideas out here because the RNSs make me imagine what Adam and Co are really thinking. It seems extreme and highly unlikely. Until it happens. Every time.
Posted at 03/10/2023 12:08 by papillon
"Clever Mr Iqbal". He was most definitely clever, purchaseatthetop, as his timing with BEN was excellent. If you look back at the earliest posts on this bb (25/10/2021) you will see that back then the quoted price of Met Coal B was $317.50. That price was set to increase significantly over the next 6 months (attracting a certain Mr Storey) and an early poster (25/10/2021), who predicted a 99p BEN share price during 2022, was remarkably prescient. In fact it peaked over a £. Then the Met Coal price started to fall and the BEN share price started to fall and eventually tanked as the Met Coal price started to plummet and a certain Mr Storey decided to dump his large holdings.
Bens Creek share price data is direct from the London Stock Exchange

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