Bens Creek Share Discussion Threads

[purchaseatthetop] 28/10/2022 16:00

In post 7630 I showed how the cost per clean ton equivalent was $149 a ton up to 31/3/22 with their own data from the Final Results.

It struck me that I have the real cost per ton too low.

All the coal mined to 31/3/22 was ROM (run of mine so untreated). Therefore, there is no cost of processing this coal into washed high vol Met B coal. It means that if this ROM coal had been processed into clean coal the cost per ton would have been a lot higher than $149 due to the allocated processing costs of water, chemicals, processing plant staff, energy etc. Might be near $180a ton.

The Ittman cost is $60 to $70 Aton per their release documents and this should be BENs target. The BEN admission document target was around $85 Aton.

[oapknob1] 28/10/2022 15:26

Think I'll pass and watch for now.

[purchaseatthetop] 28/10/2022 13:35

And unfortunately for holders here this is only going one way for the moment. Until Adam can show cash generation this is a value trap. He was still talking about dividends in the most recent Sunday Roast FFS! Who is idiot enough to fall for that?*

It remains very simple. Adam needs to release proper data so investors can evaluate their investment regularly. Best each month. Instead of monthly Sunday Roasts. Then I would have nothing to say. Why does he not do this? Only because it would be bad news.

But that news will come in time. This is teens bound soon.




*except Seagreen

[stocky50] 28/10/2022 12:34

Patt - "My guess is Itmann has control and will hit its output targets. BEN…..well we know the answer already. Cannot wait to see the interims. They are going to really show the horror."

Itmann have not produced anything so far - They just started - but you are very confident they will hit their targets.

BC have shipped 12 train loads, produce circa 40,000 and are on the path to ramp up to 80,000 - Yet you dismiss them completely. Interesting was of looking at things.

[seagreen] 28/10/2022 12:29

Even dispicable

[seagreen] 28/10/2022 12:28

Good to see Meturlurgical High Vol Coal is back up to US$280

Of course our resident Chief of Staff for bashing BEN and the CEO does not mention that US Low Vol Coal sells for US$100/ton

Of course that is why a good margin can be made by using several HWM's on BEN's High vol coal which those nice fella's from Alcor Mital lap up......can not see them allowing N&S stopping or wanting to stop BEN's deliveries of the higher margin High Vol Coal as they almost certainly earn a bigger margin



Pass the Horseradish

What a fraud

HA HA HA ...pathetic

This thread needs to be renamed Carry on lying Pinochio Patt

[seagreen] 28/10/2022 12:24

Conveniantly forgets to mention the companies main income is from lower grade coal

Why I am not shocked he has conveniantly removed the key phrase from the official Consol Energy announcement

"premium, low-vol metallurgical coking coal"


CONSOL Energy commissioned the Itmann coal preparation plant in late September, with the first train of Itmann coal loaded and shipped on October 12, 2022. When fully operational, the Itmann No. 5 mine is projected to produce approximately 900,000 tons per year of premium, low-vol metallurgical coking coal

[purchaseatthetop] 28/10/2022 12:18

Stocky. So have Itmann. End result is what do they each have? My guess is Itmann has control and will hit its output targets. BEN…..well we know the answer already. Cannot wait to see the interims. They are going to really show the horror.

[stocky50] 28/10/2022 11:56

BC have not spend $45m on just 1 HWM'er - Thats a gross oversimplification. They have had to carry out extensive repairs to the infrastructure and have purchased a large stock of yellow equipment.

Still better than $100m? Will be interesting to compare what the 2 mines actually produce.

[seagreen] 28/10/2022 11:37

Interesting to see along with the USA minining sector they also suffered logistical delays in equipment but I guess as they are not run by Adam they are excused....

Funny old world....double standards

Pass the Horseradish



hxxps://www.prnewswire.com/news-releases/consol-energy-announces-the-commissioning-of-the-itmann-preparation-plant-301655671.html

The preparation plant commenced operation in Q3 2022 as anticipated, but equipment delays and supply chain bottlenecks have delayed the third and final continuous miner section,

[purchaseatthetop] 28/10/2022 10:44

No worries stocky.
Itmann are busy recruiting endless underground staff. Google Itmann jobs.
They are only mining underground and my guess is that they will produce at a cost of around $70 a ton. That is under half BEN cost per ton.
Check out their infrastructure. They have built a proper long term underground mine. Very impressive.
BEN has now spent $45m as compared to Itmann $100m but what have BEN got? One HWMer that they are renting that can produce 20k tons a month at well over double the cost per ton of Itmann. I know which one I think is better!
Wonder why they did not use HWMer if they are so good?

[stocky50] 28/10/2022 10:36

Thanks for sharing Patt. Interesting to see that they spent $100m to get this up and running - With a capacity similar to BC (900k).

BC has spent a fraction of this!


hxxps://www.prnewswire.com/news-releases/consol-energy-announces-the-commissioning-of-the-itmann-preparation-plant-301655671.html

[purchaseatthetop] 28/10/2022 09:26

The new Consol Itmann mine opened last week just round the corner from Bens Creek. They are brand new with a 900k output capacity. Interestingly, Norfolk Southern are an investor in the mine. So, if you want to know where the BEN trains are going, you only need look at the Itmann Mine Number 5.

[seagreen] 27/10/2022 17:36

Just like you said all the Megawall subcontractors were about to down tools and walk off with their HWM's and chose not to interpretate that RNS correctly.

I know I do not recognise those numbers and you were claiming far lower production in the early months when it suited you but I have not got the time to be concerned or worried currently as I know you have the time lines wrong too.

Just because you are bored yawn....we have had this discussion you lost

Its a bit l;ike ENET who recognise Revenue too early and have been froced to admitt they need to push their pathetic little revenue fraud out o a later period.

HA HA HA HA as you would say.

Deviant extremus

[purchaseatthetop] 27/10/2022 17:30

Seagreen. I have detailed exactly what the outputs are by month directly from their own RNSs. The fact you do not get it is your problem.

[seagreen] 27/10/2022 17:26

Because you are both such charming and spiffing chaps who never attempt to retrospectively prove your eronious beliefs

I will treat you gratis

Listen very carefully I shall only say this one more time

There is a huge diference between

Average annual output (Total annual production divided by number of months)

and

Current average output in full production (Total production since two shifts divided by number of months two shifts were fully operational)

Slightly diferent here we have an example of our resident liar wishing to hide any improvement in production rates as the two shift ramp up kicks in.

All you have done is work out how you can show the lowest production level with two shifts and overstate the production in earlier period and understate the production in the later periods....

If you were not so pathetically sad you woud be both laughable.

[purchaseatthetop] 27/10/2022 16:36

Thank you ohojim. I am very pleased to help the good investors here. One day, hopefully soon, one of my actual shares will have some RNS that excites me. Until then I am dedicated to BEN.

[ohojim] 27/10/2022 16:31

By the way Patt, that was a most excellent post 7643, that should probably go in the header, as it lays out and answers all the questions regarding production that is in the public domain, in a very succinct and professional manner. You should be an accountant I reckon.

[purchaseatthetop] 27/10/2022 16:24

Well it wasn’t me because I think Seagreen is a c*nt.

This is about to drop below 25p. Not looking good.

[ohojim] 27/10/2022 16:21

Hmmmmmm. Anyone know who said this earlier today?


"But FFS lets try and put personal hatred of individual;s aside and try and keep the thread relevant, unbiased, interesting and civilised to encourage open debate. (If possible)."