Bens Creek Share Discussion Threads

[millennialinvestor] 20/10/2022 09:30

the classic nob pattern on the yearly chart. avoid.

[purchaseatthetop] 20/10/2022 06:34

Seagreen. Apologies please. I stated that MBU had over £80m of debt and no assets except for BEN shares. You derided it as lies.

Yesterdays accounts show debts were over £100m and no assets except BEN shares.
Going concern note to the accounts say that the Group is not bust because it’s shares in BEN are treated as a liquid asset that can be sold as and when needed to maintain solvency after 19/10/22. So they are telling you what will happen.

PATT was spot on. Wish I had Seagreen as my accountant*




*giggles.

[papillon] 19/10/2022 23:02

Stop fiddling with your scrotum, ohojiim, especially in the presence of company. It's not the done thing.
So Met coal is currently US$275 per ton. Do you expect it to stay that high?

[ohojim] 19/10/2022 21:39

Regarding the chart, it appears that the right portion of the scrotum is likely to complete soon and we will be back to 10p. Is it worth 10p? That would be about Thirty seven and a half million quids worth of mine.

But....1 highwall miner plus washing machine = 40,000 clean tons a month at $275 each ton = $11,000,000, so actually yes, well worth a punt on the face of it....Discuss.

[ohojim] 19/10/2022 21:01

Next time someone extols the virtues of having a "Financial Gymnast" at the helm of their favourite mine, combined with such esteemed backers as MBU, a hint of trepidation should be recommended, especially as he has "previous".

[purchaseatthetop] 19/10/2022 20:55

Are those “my favourite things”……debentures on BEN shares?
FFS…Seagreen…crawl under a stone. Right now.

[ohojim] 19/10/2022 20:39

Great research Patt!

Thank goodness for "Brown paper packages tied up with strings"

..When the dog bites
When the bee stings
When I'm feeling sad
I simply remember my favorite things
And then I don't feel so bad

[purchaseatthetop] 19/10/2022 20:30

Interesting that page 38 of the accounts has an additional £30.56m loss on discontinued operations from MBU Capital Ltd.

So we are now over £100m in losses only covered with the BEN shares (secured on these debts). Which are worth, well, half of naff all right now.

[purchaseatthetop] 19/10/2022 19:53

MBU Capital Accounts Ltd (owner of BEN shares) accounts to 31/3/22 just filed.

Creditors within one year: £22.655m
Creditors more than one year: £28.7m

Therefore over £50m of debt and the only liquid asset is BEN shares. Read page 20 section 2.3 "going concern"

[seagreen] 19/10/2022 14:16

Calm down try not to stress.....your prediction is wrong...very small volume...

[purchaseatthetop] 19/10/2022 13:08

Which bit of sky falling in do you not recognise? Six months ago share price 105p and rising. Today 25p and falling with Megahighwall contract services contract ending in six weeks.

Update. 24.5p now. Seagreen. Can you not see that a large seller is simply selling as many as possible before others join in?

[seagreen] 19/10/2022 12:30

Oh did I say I was a real qualified ACA who does not lie?

[seagreen] 19/10/2022 12:27

Patt no one takes you seriously as all your false predictions that the sky is falling in never happen. Most people are cured of lying by six but you can still work at it even if you are over 60 give it a try.

[seagreen] 19/10/2022 12:24

ENET NAV tops 4p take away the R&D and its negative

BEN NAV probably trading at half its true NAV if you wished to buy/replicate it


The big diference is BEN (now) have reasonable revenue/production no idea when they will recognise it or tell us.

Monthly revenue/production is more than the maniplulated false annual revenue of ENET.


O/T

ENET have already had to fess up and write back some falsly recognised revenue last year, if you look at the notes to the accounts they are recognising revenue prior to invoicing.

The USA can/used to recognise revenue on a cost of completion basis (labour plus equipment) but the UK do not they look at each contract and guage the labour cost of completion. ENET is goverened by UK GAAP/IAS.

I suspect the owners being more familiar with USA accounting thought it was corrrect but had to write it back, so not accusing them of deliberate manipulation.

I did all the DD for a US$60M tech acquistion they booked 100% of the equipment into WIP added some nominal labour. Bobs your uncle due to the high value of equipment they were recognising 75% of contracts profit prior to having done any serious work.

[purchaseatthetop] 19/10/2022 12:04

Sea green. People might take you a bit more seriously if you did not write like a six year old. But actually, I doubt it.

[seagreen] 19/10/2022 12:02

Pants seem to be still smouldering imho

[purchaseatthetop] 19/10/2022 11:57

Papillon. Fully agree. But it is all about where it will be in six months not market mispricing now. Six months ago BEN was vastly overvalued and is about 15p above true valuation now. ENET is vastly undervalued but will correct. Let’s see!

[papillon] 19/10/2022 11:35

Well the BEN share price is currently down today, but the ENET share price is currently down by a far bigger percentage! 😁

[mindminer] 18/10/2022 20:13

I previously said you'd be in the low 20s last week but you're not there yet. Don't worry though. You will be by the end of this week. The chart is tragic. I'd be interested at around 10p after you've gapped down.

[purchaseatthetop] 18/10/2022 16:17

Watch a dump starting now.

[seagreen] 18/10/2022 11:03

What exactly are you good at?

Certainly all your investments have gone down spectacularly down the pan I almost can not bare to watch the ENET shareholders lose all their money by a thousand cuts it is too painful?

I would admire you more if you had a short open on ENET and made some money?

So why repeat the same diatribe over and over and over and over and over and over and over and over

Anyone would think Mr Wilson had upset you lol

Liar, liar pants on fire....