Bens Creek Share Discussion Threads

[whowantstoknow] 25/11/2022 13:00

MBU Capital Limited wasn’t owned 100% by Mohammed Iqbal

[john henry] 24/11/2022 21:39

Read the RNS you t wat

[purchaseatthetop] 24/11/2022 17:04

So where did your whisper come from Seagreen? Or are you making it up as usual. This board is about BEN. If you have something to say about ENET post it there. Thanks.

[seagreen] 24/11/2022 15:57

ENET whisper of a placement at 5p ...could not happen to a nicer person.....time to bail out

[purchaseatthetop] 24/11/2022 13:18

Interesting that MBU Capital Group Ltd adopted custom written new Articles of Association on 22/11/22. With one shareholder why would they need to change from Model Articles? Surely not necessary?

Not if you read Section 32 which gives the company lien over all registered shares before any other creditor if there is a debt owed by the shareholder.

Protects Iqbal from losing control. Looks like the debts are closing in!

[tburns] 23/11/2022 15:11

14-15p is my guesstimate

[terminator101] 23/11/2022 08:15

Not long now until into the 10's. Wonder how big a discount for the placing?

[purchaseatthetop] 23/11/2022 05:33

Whooops. Down another 7.5%. Didn’t Adam say that Met B was going to rise? As usual Adam was talking rubbish.

Anybody know what is going on at Bens Creek? The LSE board say they are trucking coal again in the absence of trains.

My take on this….
The new joint broker means a cash raise is on the cards.
The use of trucks means far too few or no trains and hence emergency actions to generate cashflow.
No point in approaching the US IIs who funded the two $6m placings as they are conversion underwater at 28p and 40p.
The first repayment of half of the $6m comes up 31/12/22. Need cash for that.
The first repayment of the second CLN is 28/2/23.
So…$6m plus accrued interest so about $7.5m has to be found in the next couple of months or BEN is in default.
Interims coming out that will finally reveal the true cost of mining per ton and the revenue per ton. Plus cash position and cash burn. Not going to be pretty.
Watch out. This is going down or a huge dilution coming.

[mr gf duck] 22/11/2022 10:23

New joint broker = cash raise coming

[purchaseatthetop] 22/11/2022 08:38

New broker = cash raise coming

[purchaseatthetop] 22/11/2022 05:24

I won’t mention the Met B coal price if you dont want me to. Will help draw the right testicle.

[ohojim] 21/11/2022 23:25

Yes, he was a few of my favourite things.

[purchaseatthetop] 21/11/2022 22:24

I miss Seagreen. He was such fun.

[purchaseatthetop] 21/11/2022 09:10

Strangely silent here. Feels like a ghost town. Not specials. Boulevard of broken dreams. No green day.
The sustained seller is still dropping lumps. Will drop soon. Those interims are not far off and they are not going to be pretty. I have done my forecast and posted it here. Give it a try yourselves and let’s see who is closest?

[hamidahamida] 17/11/2022 11:44

Wilson ramping away with straight face Bankrupt Atlantic coal Narrative https://youtu.be/8FVsrQ0f_1A

[hamidahamida] 17/11/2022 11:15

Adam Wilson proudly showing Atlantic coal operations Remember same bankrupt narrative this time it is BEN https://youtu.be/zDn4fAoLdPs

[hamidahamida] 17/11/2022 11:10

Imo It's pretty obvious with all the multiple discounted placings results are going to be bad, the question is how bad. Company is run by the same guy who ran Atlantic coal into the ground

[purchaseatthetop] 17/11/2022 09:46

I do like this thread! Remind me. Why was it set up?

[purchaseatthetop] 17/11/2022 09:35

Agreed Terminator. Clearly an insider who got 5p or 10p admission shares knows the news that is coming with the Interims. There is no chance of hiding the scale of the losses with auditors sign off. They are getting out while they can. Seagreen can post hopeful guesses as much as he likes but these sales are certainly insiders and they know the future. Just my view!

[terminator101] 17/11/2022 09:31

Sub 20p soon.