Bens Creek Share Discussion Threads

[seagreen] 25/10/2022 16:26

stocky50

Bingo


"Move from contractor model to equipment owner to "face-up" surface areas to be highwall mined by our contractor, Mega Highwall Mining, to achieve cost efficiencies"

What do you think this so called Moron/C*nt as the resident liar has been politely calling me has been saying over and over again.

He is a fraud he ignores any content in an RNS or a set of accounts or an admission document that contradicts his false propaganda.

You have to tripple check everything he says, thank you for independently confirming that Purchaseatthetop lies and does NOT interpretate RNS/documents truthfully.

So as I say I am sure he is a fine lad but he lies and that is why I have no intention of STFU and he is the moron.

(See he is using the same words as one of his multi log ins now)

[stocky50] 25/10/2022 15:25

You may be right - And we will see. Like i said - i dont expect an RNS every time the company makes a move. That would be ridiculous. I personally think BC RNS too much !

When you Mega have not been named again ... its in the Annual Report:

"Move from contractor model to equipment owner to "face-up" surface areas to be highwall mined by our contractor, Mega Highwall Mining, to achieve cost efficiencies"

[purchaseatthetop] 25/10/2022 15:19

Good luck with that. Months ago Megahighwall we’re named in almost every RNS. Since June they have not been mentioned once. Now it is Highwall contractor, not Megahighwall. Little things like that count. Like not RNSing $6.1m of financing.

[stocky50] 25/10/2022 15:15

I think we are mixing things up. The recent purchases replace the yellow equipment - which is a good move in the long run and will benefit the bottom line. MHW will continue to mine using the HWM'ers.

Need to dig into Adam - and get a better idea on his ability to deliver.

[purchaseatthetop] 25/10/2022 15:13

Of course the request has been accepted. That is sending an email. But if they have no more Highwall miners in 2022 what good does that do BEN?

[hazelst] 25/10/2022 15:11

No respect for a charity thief.

[purchaseatthetop] 25/10/2022 15:10

Stocky. Why would you assume that? The fact that BEN are trying to buy mining yellow metal and finally recruit means they are facing a deadline. The company has not mentioned Megahighwall on its RNS for many months. I think the absence of any RNS means the contract is lapsing. But as you say, we will see. But it is an existential threat as BEN seem unable to mine themselves. Would you trust Adam to actually do anything except get paid?

[stocky50] 25/10/2022 15:05

Since then nothing - does not mean it has not happened ? MHW accepted the request for the second HWM. So its only fair to assume that terms have been agreed. The company has repeatedly stated that it expects this to arrive soon.

We will know soon enough.

[purchaseatthetop] 25/10/2022 14:54

Stocky. They did not order a second HWMer. They asked to have first refusal on a future available HWMer. Which Megahighwall do not have. They only have five that you can see on their website. A contract was supposed to be signed in July. Since then nothing.

I am sure that if a new contract had been signed that would have been RNSd because they said they were going to sign one.

[stocky50] 25/10/2022 14:50

Why would Mega contract terminate ? Especially since BC has confirmed that they want the second high wall miner - which as far as i know - is expected to be delivered imminently.

Am sure the contract has been extended when the order was placed for the second HWM.


I personally dont expect the company to RNS everything they do in the ordinary course of business.

[purchaseatthetop] 25/10/2022 14:49

Seagreen. STFU you moron. Thanks

[stocky50] 25/10/2022 14:47

Re the 2x $6m CLN's .... "Interest will be payable via the issuance of additional Convertible Loan Notes as payment in kind. The Convertible Loan Notes are unsecured. The Notes shall be issued by the Company in multiples of $500,000."

So dilutive - but not a cash call on the company

Not sure terms of the MBU CLN. I suspect these are PIKS also.

[seagreen] 25/10/2022 14:46

Patt

Alternatively to summarise

You have repeatedly lied on this thread for anyone to trust you any more.

[purchaseatthetop] 25/10/2022 14:46

Stocky. It would be interesting and should be EXCEPT…..
At the end of November 2022 unless we hear otherwise, Megahighwall will stop mining with their Highwall miner and there will be no mining happening any more. That is exactly five weeks away.

[stocky50] 25/10/2022 14:43

Agree that the share price got ahead of itself - But do remember that at the same time Met coal prices rallied to as high as $470 /tonne. This had a lot to do with where the share price went. Since then, Met coal went as low as $240! but has since stabilised around $280 / tonne. I think this is a big factor in what the share price has done.

At current share price - this is much more interesting. I have a positive outlook on Met Coal. This plus the fact that BC is now in production (which it was not when the stock was at £1) - should see the stock doing well in the future.

The stock IS correlated to global met pricing - as it should be.

[purchaseatthetop] 25/10/2022 14:43

Stocky. Agree with the hybrid structures. But right now the true debt is all the finance debt, the MBU loan and the CLNs and the interest is about $3m per annum. The debt would reduce if they were converted and the investors diluted. But that has not happened yet.

Until it does interest accrued. Remember they have to start being repaid in the next four months. Millions at a time.

[stocky50] 25/10/2022 14:37

Patt - Re your debt and interest assumptions on BC:

$6m CLN – A hybrid structure convertible at 28p
$6m CLN – A hybrid structure convertible at 40p
£7.2m MBU Facility –A hybrid structure some at 15p conversion and some at 60p
$6.1m equipment financing – Which is typically 60-70% LTV at rates of circa 4-5%

So true debt is $6.1m - the balance being CLNs.

Total debt (inc CLNs) is circa $27m – “ASSUMING̶1; no equity conversion – which in itself is unlikely since some of that will be in-the-money and will most probably be converted.

Still, lets assume that of the $21m of convertible debt - $15 does not convert – then the interest cost would be sub $2m

The $9m on IPO and the $6m recently raised were equity raises – So clearly no interest cost.

[purchaseatthetop] 25/10/2022 14:35

Or…to summarise

The share price got ahead of itself due to the massive ramping by Adam and the Sunday Roast crew
The share got ahead of itself as inevitable delays occurred given that Adam and crew had promised deliveries that were never ever possible in the first place.
The share price fell because the 27/6/22 Highwall miners update made it finally clear that this share was hugely ramped and ahead of itself. John Storey was the first to sell.

[seagreen] 25/10/2022 14:21

Patt

To sumarise for your lap dogs who are happy to read reams and reams of BS and lies from you but can not understand simple well thought out logic.

The share price got ahead of it self due to the spike in met coal prices
The share price got ahead of itself as unforseen delays ocurred which would have halted the rise if known
The share price fell due to John Storey's decession to close his huge derivative position.

None of your scare tactics/lies/BS have a significant impact on any of the share you comment on as everyone knows you do not speak the truth and you have zero respect.

Appologies for the spelling I need to buy another key board.

Now try and get a life and learn to speak the truth there's a good lad.

Toddle Pip
Over and Out
DYOR, never trust PAtt, nag, etc

[bonzo03] 25/10/2022 13:19

I've never in my life seen someone talk so much brown as you lad

[purchaseatthetop] 25/10/2022 10:29

I reckon Seagreen should work for Russian media. He has an amazing ability to completely ignore reality and simply pump out propaganda from a made up world justifying his position.

Seagreens retirement from this board is not going well.

[ohojim] 25/10/2022 10:00

In my oppinion it's clear you need a crystakl ball insisit o exsasperated disingenious c*nt wors higfher halviong pepople.

[bbmsionlypostafter mk2] 25/10/2022 09:36

At 1,253 words is 7567 a record for our resident gas bag?