Bens Creek Share Discussion Threads

[seagreen] 14/11/2022 19:02

Allotment you would think ENET holders out of anyone would understand that or at least ones who do not have the hump with the excellent Adam/Sunday Roast.

Rotten luck if the unforseen delay to the global roll out of 5G due to Covid has robbed them of a potential multibagger.

But as a charitable person I hope it survives for them eventually.

[allotment] 14/11/2022 18:54

Excellent post seagreen, shame some think its all about themselves vs Adam/Sunday Roast despite the numerous incompetent lies they post and the utter rubish they post.
None of which have come to fruition.

Of some frivolous interest will be Septembers production and the closing stock balance further to Purchaseatthetop's statement that they only produced 20Ktons in September.

Of more interest for the future will be the number of trains that have been delivered and confirmation that the second shift has been "RE" started since the 1st HWM was moved. Unless the 2nd HWM is on site there is such a potential lead time in the US mining logistical chain we might as well be patient.

A shame people sitting in the comfort of their own home/villa think every unforseen mining logistical delay in the USA means a CEO is a liar or incompetent.

They really need to get out more or at leasst check how the unforseen covid delays have stuffed projects world wide.

5G springs to mind.

[purchaseatthetop] 14/11/2022 17:23

Sea green. That is all very reasonable except that the reason BENs price has fallen is that Adam spouted huge over promises that he has failed to deliver. Whether he was deliberately lying or being over exuberant is irrelevant. He is either a liar or incompetent. There has been RNS after RNS plus Sundayroast that have proven to be complete rubbish.

The accounts are signed off by experts so I pay attention to those. It will be interesting.

[seagreen] 14/11/2022 16:48

What I said was

Personally I will be far more interested in the progress trading outlook and the progress made since September contained with in the interims as it will have been reviewed and approved by the auditors and in the form of an RNS.

[aimmafia] 14/11/2022 14:39

Does look like it's near the bottom now

[seagreen] 14/11/2022 13:35

Sunday Roast had a very sensible prudent overview of several/many stocks, currency US$, China and overview of commodities. They put forward some interesting comment and view and did not appear to be ramping anythinng in particularly and put forward some interesting stocks to look at for the future. They put a sensible case for MBU and Blue Star being committed to the long term now and effectively being locked in for the long term, pointed out how all mining stocks have suffered from logistic issues. All points I have politely pointed out and how they have effected all commodity stocks and they pointed out the issues that all mining stocks face. Just their views no ramping and time will tell how the commodities markets will fare over the next six months. Rather professional overview all in all.

Personally I will be far more interested in the progress trading outlook and the progress made since September contained with in the interims as it will have been reviewed and approved by the auditors and in the form of an RNS. But then people know I think BEN have been fighting a head wind of logistical delays, weather, scare tactics that have not come to fruition both with false forecasts and predictions of mass sell offs etc. Some will not agree but that is life.

[purchaseatthetop] 14/11/2022 10:52

Must be by end of December as three months limit but they have previously stated by end of November fir six months ended 30/9/22. I forecast an operational loss of $3.5m.

[the modeller] 14/11/2022 10:26

When are the interims due?

[purchaseatthetop] 14/11/2022 10:09

There was another S7nday Roast this weekend. Cannot be bothered to listen as I assume it is the same gumpf as usual. Cannot wait for the Interims though. That will be an interesting read.

[blackhorse23] 14/11/2022 08:20

Bought last week MCL (LSE) , looks good mcap 3m but cash in hand 140m

[purchaseatthetop] 12/11/2022 14:33

Dead right Papillon. Should have could have would have didn’t. I research. Sometimes too much!

[papillon] 12/11/2022 14:27

You must admit, purchaseatthetop, that bearing in mind your admitted ENET buying prices, that your timing was abysmal.
Why are you so certain the ENET share price "will reverse in weeks" and will it "reverse" enough to overcome your substantial losses? Are you privy to inside information? 😁

PS You should have studied the ENET chart

[purchaseatthetop] 12/11/2022 14:08

Very interested in ENET papillon. Very interested. But nothing I can do right now. I simply wait. You see, that is the difference between BEN and ENET. ENET have never issued a deceitful or pumping RNS. The share price has collapsed on lack of news because the BoD do not worry about the share price. The drop will reverse in weeks.

[papillon] 12/11/2022 14:05

I would have thought, purchaseatthetop, you would be more interested in what is happening to ENET, rather than BEN, bearing in mind your substantial shareholding in ENET. Your losses on paper must be sizeable and increasing after the big drop yesterday in the already very weak ENET share price

[purchaseatthetop] 12/11/2022 12:45

Well stocky if you don’t understand you don’t understand. Nothing I can do about that! Good luck.

[stocky50] 12/11/2022 12:21

Not expected to means they dont have to - but MBU scan repay if it chooses to. It’s a term loan! Hence the “expected̶1;.

No margin calls and low leverage - at least we agree on that.

MBU has been in existence since 2013 - so who cares if the relationship has been with a single particular entity or a wider relationship with other companies that have been - or are - a part of the group. This is such a non-point I don’t understand why you are trying to make a big deal of this.

[purchaseatthetop] 12/11/2022 05:43

Stocky. Read the RNS.

“Not expected to be repaid for at least twelve months”.
Don’t you hate it when there is any word such as expected. Either it is or it isn’t.

“Not subject to any margin calls related to the share performance of the company”
The debt is supposed not to be highly leveraged and the security is the entire share stock held by MBU. Of course there are no margin calls.

The point is that you cannot believe a word you read in the RNSs. It is simply false that MBU Capital Group Ltd has had a successful eight year relationship with Bluestar. They have only existed for just over two years. MBU Capital Ltd has had a relationship with Bluestar going back to 2018 but that debt is in default with the charge unsatisfied and MBU Capital Ltd being struck off with huge debts and no accounts filed.

Bens Creek is MBU Capital and Iqbal. I have said that from the getgo and these recent RNSs confirm it. To understand Bens Creek you must first understand MBU Capital and Iqbal because BEN is their child. It has their genetics. There is no “risk of default” because I think it is already defaulted!

[stocky50] 11/11/2022 22:27

Yep …. And the wrong view. You are so clueless on this point and yet you keep banging on about it ?

The important things ….

Neither MBU or Bluestar have sold
The debt (against which the charge is registered) is not due for at least 1 year - and can be extended
The debt has no margin calls
And there is no risk of default

Focus on Bens Creek !

[seagreen] 11/11/2022 15:42

Soon be time to sit on the benches......and enjoy the 2nd HWM

[papillon] 11/11/2022 14:11

I don't subscribe so can't read the article. It sounds like Winnifroth isn't a fan of Adam Wilson! 🤣

[papillon] 11/11/2022 11:07

Well yesterday's GAP down has been filled this morning.

[purchaseatthetop] 11/11/2022 10:11

Seagreen. The RNS states that MBU Capital is MBU Capital Group Ltd. It defines it as such. MBU Capital Group Ltd is only 2 years old.

MBU Capital Ltd also dealt with Bluestar but MBU Capital Ltd is being struck off with vast debts and having not filed accounts.

So, the RNS should point this out. This is a really inaccurate RNS. It says that they have had a long and successful relationship. What!