Bens Creek Share Discussion Threads

[seagreen] 20/10/2022 15:55

Pat

No worries you were not mentioned as you well know they made comments about Sunday Roast going via Pennsylvania and magical faries producing a huge mound of coal as some on the bulitin board accused him of acquiring Bens Creek from Atlantic Carbon and not producing coal.

I thought it was hilarious not least as it shows your repetitive diatrab about never lying is the bigest lie you have posted.

To be fair you appologised for making an accidental error.

[luqs01] 20/10/2022 15:51

Muzaffar Iqbal son Mr Iqbal (head of MBU) has stated on both BEN telegram groups that MBU have no plan to sell and are fully supportive of BENs production strategy for the next 12 months. Vote of confidence from MBU and alleviates fear of them selling their shares.

[papillon] 20/10/2022 15:25

Looking at the trades so far today there is no evidence of shares being dumped by large holders. In fact the trades today are all relatively small.
However the BEN chart is still strongly bearish and in a downtrend. That's fact. BEN need to release some very good news to reverse that downtrend.

[purchaseatthetop] 20/10/2022 14:52

Seagreen. I neither heard what Adam might have said nor care what he might have said. But the mere fact that the CEO of a company would target a bulletin board poster is as big a red flag as you could see and I take it as a compliment.

[seagreen] 20/10/2022 14:34

Patt

If I am not very much wrong he made a public mockery of you for being decietful and lying.

Double standards me old china

Must dash but at least we know now and you think he is believable lol

[seagreen] 20/10/2022 14:29

Pap

I know but that is the bigger reason imho that explorers get hit harder than producers in times of finnancial storms all be it the media have a lot to answer for.

Let us face it MILA is at a very early stage and so if they can get the gold out cheaply then it could still be very profitable irespective of the gold price.

So the explorers trade at a discount even though the grades are great as it is the unknown, we need a jorc resource in due course.

Infact historically gold mines (producers/explorers)trade at a far lower oz in the ground valuation on AIM as opposed to the TSX, I presume that is still the case.

Like you the size of my investments are relatively small so I have to hold them for longer, you only need one Jehdi warrior like Adam to come along once a year!

Sorry I am not dissing MILA as I love the grades.

The reason I compare BEN to ENET is very simple

Its called double standards and he protests too much:

I find the endless pumping and ramping of ENET's future with no real evidence and the humumgous bought forward negative reserves (10 times the annual revenue and higher now) by Patt

vs

The endless deramping of BEN's future which actually made a paper profit (not operational) stating they have huge negative reserves backed by no supporting evidence, as they are moving up to increase production all be it delayed when he dislikes the CEO by Patt

Yet Ben is far more advanced in revenue generation than ENET is.

Yet honest Pat talks about the future revenue growth of ENET and gives no creedance to any possible production growth at BEN

A more balanced view on both might get my respect if you can not see that for some peculiar reason he is so biased then I would dyor on other threads he posts on.

There is a huge difference between delay and pump and dump or fraud and an ability to play by the Queensbury rules would help a lot.

So that is why I currently can not trust a word he says without checking.

[purchaseatthetop] 20/10/2022 14:15

I do not like Adam because he is deceitful. Lieing, greedy, believable. Is that enough?

[seagreen] 20/10/2022 14:11

Patt

Let us at least stick to what you know to be facts or at least say I think when you do not know, You have no idea of my trading p/l and I do not post every trade nor are they of great magnitude I just chip away taking the odd profit here and there tryingto surf the wave whilst maintaining a core position.

Better than sitting there at your desk barking your oppinions as though you are the world expert on mining coal and MBU with no skin in the ground and verbally abusing the CEO.

So why do you not like Adam a simple question do share, you always avoid the awkward questions.

[purchaseatthetop] 20/10/2022 14:09

That report was dated 31/3/22. That was before the @£28.7m loan expired that was July 22. Therefore, since then I think the debt would be guaranteed because there is no other asset to secure against.

[stocky50] 20/10/2022 14:04

“The ring fenced and other spv debts have third party guarantees from MBU” - but they don’t - it says that in the report

[purchaseatthetop] 20/10/2022 13:45

Stocky. Nothing is what it seems. The ring fenced and other spv debts have third party guarantees from MBU. This was disclosed in an administrators report. So, smoke and mirrors. The £28.7m long term loan that is supposedly ringfenced expired in July 22 and will also be guaranteed.

Note 22 of the 31/3/22 accounts says the £28.7m loan is secured with a fixed charge on investment properties. That is correct. But also the debenture for the £28.7m if you read it includes a floating charge.

[stocky50] 20/10/2022 13:42

MBU consolidated debt is £46m? £36m seems to be ringfenced in SPVs against the SPV assets - with no cross collateral to MBU Group.

So MBU only has 10m of debt at the group level ?

Page 23

[purchaseatthetop] 20/10/2022 13:30

Seagreen. We know you sold none because you posted as such. You had a few a 10p, more at 30p and added much higher to an average of more than 50p. Man up and accept it. I have already copied your posts here before. Sad. Sad.

[papillon] 20/10/2022 13:30

"BEN is a producer (NB PAP not an explorer)."
I do know that seagreen! What in heavens name makes you think I don't?
Like you, seagreen, I hold some shares in MILA (a gold explorer). I also hold shares in another gold explorer, EST. Why? Because I believe that gold will eventually start to climb up above the 2020 high. With the benefit of hindsight I bought into both companies too early because I thought (mistakenly as it happens) that the gold price would be higher than it currently is. The grades so far reported by both companies are very good, however and my current paper losses in both are relatively small. I don't bet (gamble) more than I can afford to lose.

[seagreen] 20/10/2022 13:26

Patt my dear old chum what do you not understand about I am in for free and lived off the additional profits in 2022.

Why do you not like a man you have not met unless you have met him or worked for him or he has rightly caught you out for lying?

Do tell us all then we might understand

I think he is magic!

Due to the delays I have a second opportunity to do it all again marvelous chap.

Whatever you think of Adam the share price is trading under the NAV of a recently repared and renovated meturlurgical coal mine.

Infact I bought a smidge today with real money not from one of those fairweather friends at Spreadex. If you have ever spoken to Metal Mat in the back office if your margin is in trouble he understandably will clear your positions out and then come after you for the loss.

If you do not understand that the underlying business is not effected by share price volatility especially as we have suficient cash then go and discuss it with someone you trust.

I have no interest in buying any Etehrnity shares as I have not researched it.

Glad you said "You see" and not "Trust me". LOL

PS I hope you know more about technology than modern mining methods.

Take care I hope ENET doubles whilst BEN quadruples.

[purchaseatthetop] 20/10/2022 12:58

Seagreen. That post is just funny. You see no point in understanding the financial decision making impetus of the owner of 60% plus of BEN shares? That surely is the most important thing in any investors list of priorities.

I do not hate Adam Wilson. I do not like him but no hate. You should hate him as he has caused you all to lose a lot of money with no chance in my view of any recovery.

Ethernity will be fine. You see, I do my research.

[ohojim] 20/10/2022 12:38

Not quite as sad as seagreen. I have it on good authority that he was last seen cutting up his ever so tasteful curtains to make clothes for tree climbing. Hope he hasn't had an accident!

[tburns] 20/10/2022 12:32

This looks like sub 20p at this rate next week. Very sad indeed!

[papillon] 20/10/2022 11:37

Excellent research on MBU, purchaseatthetop.

[purchaseatthetop] 20/10/2022 11:37

Exactly papillon. Let’s keep this discussion sensible and grown up.

Strange that we have not heard from Seagreen today. Odd that. He was very vocal before MBU finally filed accounts yesterday.

Hi Seagreen! Penstock is happy spreading happy words on LSE board. Prozac for stressed investors.

[papillon] 20/10/2022 11:33

The children have arrived. They should be seen and not heard! Hence I have filtered both buy2sell1 & millennial investor.

[millennialinvestor] 20/10/2022 10:42

bum2suck1 has a disturbing penchant of sucking bum

[buy2sell1] 20/10/2022 10:07

that share price chart actually looks like MILLSTONE INVESTOR

because he's just another SKINT nob'ead