Bens Creek Share Discussion Threads

[hazelst] 26/10/2022 12:49

Convicted charity fraudsters cannot be trusted.

[purchaseatthetop] 26/10/2022 12:44

All very interesting justifications stocky but avoiding the real issue.
BEN has been promising 40k tons per month clean Met b since March 22. The highest it has got is 17k tons with two shifts. It is losing money at that level.
Todays RNS is simply that they have moved the HWMer. They can continue losing money at the new site.
So it is a typical Adam RNS. Written to seem like a breakthrough so Seagreen and the gullible PIs can get really excited. Nothing has changed.

[stocky50] 26/10/2022 11:34

Mindminer - Hope todays RNS about the contract extension puts your mind at ease.

Why the selling ? Not sure, but if the fundamentals of the company stack up - Who cares ?

[stocky50] 26/10/2022 11:32

Patt - Its good to see that the new permitted area is now being mined and good to hear that the MHW contract will continue - as I suspected.

Furthermore its good to see that BC will get the second HWM'er in due course. I suspect that BC will not push for this until the benching for the second machine is complete - which again i suspect will happen soon. BC would not be spending all that money on preparing the ground work unless it had confirmation of delivery.


Regarding the timing of RNS's and delivery of the "statements" - we need to remember this is a mining operation where delays are inevitable. Permit issuance / production ramp ups, repairs & maintenance are not as simple as an excel model would suggest.

PI's need to stop demanding RNS's all the time - and need to stop bringing the company into question for every small delay. (Actually PI's can do whatever they want - so long as the company continues to move forward - all is well). A few months of delay in mining is perfectly normal - especially when you are ramping up a mine that had been shut for so long.

Whatever the previous production numbers were, we have confirmation that BC (under the old permit) was at circa 40,000 per month. Who cares if there was a slight delay. This mine had been shut for 6 years - Needed lots of infrastructure work & spend. Had unprecedented storms to deal with - but still the company manged to get to their initial production target - albeit later than originally anticipated.

Seen a lot of comments on why the HWM that was purchased has not been utilised. I am speculating here but why would BC get this into production given that the first permit area was was running out of its mining life. As for what they do now - lets see. If they get a fully operational one from MHW - then surely that's the preferred route. And then they have the "option" of deploying the third miner (as suggested by the company).

Not sure why everyone thinks John Story spotted something and started selling. He was "part" of the pressure on the share price but surely global Met Coal prices falling from a high of $470 down to $245 was a bigger reason ? Have not seen any comments on the global / macro influences.

More and more - i am liking BC - especially at these levels. Took an entry at the recent lows - and am confident that eventually (soon) - BC will get to the circa 80k of production.

Btw - not sure why you think they can only stockpile 50K. From what I have heard and read - they can stockpile a lot more. The site is 17,000 acres no ? No shortage of space.

[drew lonmenob] 26/10/2022 08:57

'goodbye' you clown

[seagreen] 26/10/2022 08:39

Good-by is perfectly acceptable Time to update the list of lies must be over 30 now.Good-by

[purchaseatthetop] 26/10/2022 08:29

“Good bye” it should be Seagreen. I can tell when your alter ego posts as then you can spell.

[purchaseatthetop] 26/10/2022 08:28

Makes you wonder why this “news” was rushed out before even having a date for delivery of this second Highwall miner. Surely it would really make sense to RNS more output when you are able to say when it will happen. Especially when you have a history of non delivery.

I wonder if it is because a six month interim trading update is due and it will not make pretty reading? Somebody is selling into this news which is why the price is going nowhere. Just my view. So not lies. Just my view.

[seagreen] 26/10/2022 08:26

Top of the mornin to Patt and his various multi log ins Liars get found out in the endGood by

[drew lonmenob] 26/10/2022 08:19

seagreen strikes me as a bit of a loser.

[purchaseatthetop] 26/10/2022 08:16

Seems odd Seagreen. You have been writing reams and reams to me for months. I would be delighted if you stopped. The share price should soar on this “news” but the trouble is that nobody except a small group believe a word of it.

[aimmafia] 26/10/2022 08:15

So when the second high wall miner is in operation. Are you going to give up posting here then? As you would have been proved wrong about this point?

[hazelst] 26/10/2022 08:14

Lying and cheating, that's what the convicted charity thief does best.

[seagreen] 26/10/2022 08:13

Sorry I do not speak to liars and "you are" one

[purchaseatthetop] 26/10/2022 08:10

Seagreen. What has he delivered? He needs two HWMers and to mine it profitably. Long way to go.

“Allowing us to deploy the second Highwall miner when it arrives”

As always with BEN….future uncertain.

[seagreen] 26/10/2022 08:08

As you would say STFU Game is up Your a liarAdam has delivered Best go and find another stock to lie about.Every point you have made is or has imploded

[purchaseatthetop] 26/10/2022 08:04

Sorry. I was driving to a training day and have just read the RNS.
So…the first HWMer is now going to mine on the new permit area. No change as that is simply a move of aHWMer and good news that the contract is not being cancelled.
Still no date for any second HWMer. Clearly that will not happen for a while as they can only stockpile 50k tons and two HWMer operating would fill this in a month.
This is the moment the insiders have been waiting for. Moving the first HWMer and then sell off shares into the spike.
Let’s see.

[seagreen] 26/10/2022 08:00

There is only one moron in the house (presuming the other one is a multi log in) Next stop 80,000 tons No early post from Pinocchio Patt whose pants exploded on today's excellent RNS

[purchaseatthetop] 25/10/2022 20:27

Stocky...lets look at the second Megahighwall RNS 27/6/22:
27 June 2022

Bens Creek Group plc

("Bens Creek" or the "Company")

Update on highwall miners

"Bens Creek Group plc (AIM: BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, is pleased to announce that following the Company's announcement on 29 October 2021 for the supply of contract mining services by Mega Highwall Mining LLC ("MHW") to the Company, which included the supply of a highwall miner and related highwall mining equipment, the Company has now exercised its right of first refusal on a further highwall miner and related equipment to be supplied by MHW."

Comment: "exercised its right of first refusal on a further highway miner". That means first refusal on another available HWMer.

Megahighwall have five machines and none are likely to be coming available.
Therefore, this is simply saying if you have another one we would like it. NOT...we are getting one!


"Whilst the Company's request to MHW has been accepted, it is anticipated the formal agreement with MHW for the supply of a second highwall miner will be completed during July 2022 on similar terms as the initial highwall miner supplied by MHW, including a production target of between 32,000 and 40,000 tons of metallurgical coal per month."

Comment: of course it was accepted. they may have a first refusal right. But there seems to be none available anyway and the production target of 32k to 40k is unrealistic as the first one has averaged 17k tons a month with two shifts.
The contract was expected in July 2022. We are now nearly November 2022. Just how long does this take to sign!

"The Company expects to receive, during July 2022, a permit for the area that is to be mined by MHW using the second highwall miner."

Comment: finally in September the permit arrived. But still no second unit.

"Accordingly, the purchase by the Company of its own Superior highwall miner and related mining equipment, as announced on 25 February 2022, will in due course, once renovations have been completed, enable the Company to have a backup highwall miner to ensure production is not affected by either any planned or unforeseen downtime which results from any of the machines operated by MHW being inoperable."

Comment: having spent $3m on this bought machine that was supposed to be mining May 22 suddenly it is to be a back up for a non existent second Megahighwall machine. Cue John Storey selling.

Adam Wilson, Chief Executive Officer of Bens Creek, commented:

"We are delighted to have had the opportunity to exercise our option for MHW to operate a second highwall miner on our behalf and reinforces our strong relationship with our contract highwall miner. Highwall mining machines are generally in short supply and command a market premium. By operating two highwall miners simultaneously, this will enable an increase in our production capacity to up to 80,000 tons per month."

Comment: Adam confirms it is simply an option. If they are in short supply then why would Megahighwall send them to BEN who are only mining 17k tons a month? Why would they then risk doubling up the machines when they can be paid far more to work at open pit mines where the contour bench does not have to be blasted? BEN is always running out of money and also only has stockpiling facilities for 50k tons. Two machines would fill that in a couple of weeks. It does not make sense.

"With the addition of a further highwall miner on site, the recently acquired highwall miner will ensure that two highwall miners are operable at all times."

Comment: this was in June. More than four months later there is only one HWMer and that does not need backup as they manage and run it properly. To think that Megahighwall who know what they are doing would rely on BENs rusty heap of junk is simply ridiculous.

Summary: Nothing that was promised in that RNS has actually happened. You can look at every RNS and ask the same question. What has been delivered? The answer is always the same. Zilch.

[purchaseatthetop] 25/10/2022 19:19

Seagreen. Stop being so pathetic. This board is about constructive discussion about a share both the positive and negative. We all miss things. Whether it is important or not we do not know yet.

Stop accusing me of “lies” when everybody knows that is not the case, and also of somekind of “hatred” against ADam who I simply dislike, and I welcome anybody telling me where I have made a mistake. Also none of my posting has been “BS” as you should well know. If you do not know that there is no hope for you.

[seagreen] 25/10/2022 18:25

Not even an appology for his "accidental error" and the 24/7 BS claim mining is about to cease...

No respect for genuine posters of logic and truth or indeed the truth

The facade of truthful interpretation of only official documents colapses further

Why do you not give it a break and stop lying on all ADVFN threads?

[purchaseatthetop] 25/10/2022 17:57

Under “current trading outlook”. Did not see that. Well, we will see what happens. Well spotted. However, “current trading outlook” is not future trading outlook. I simply think that the absence of an RNS on such a critical issue when they RNSd in June that they were going to sign a contract for a second HWMer from MegaHighwall in July, and with the October contract running out in five weeks, then this is critical investor information and they must RNS any contract signing. But as you say we will see.