Bens Creek Share Discussion Threads

[bad gateway] 18/1/2024 13:28

Even metcoal isn't on their side it seems.
HVB $225/T

[jaknife] 18/1/2024 12:35

The last results were terrible, nothing has changed that would make the next results any better than the last ones!

[ianio5691] 18/1/2024 08:45

I agree Papillon - the chart looks terrible.
Can't see anything in the short term that will significantly change the trend.
Wilson really needs to come through with the goods now - but he is already lining up the excuses with the limited availability of trains!
Another lifestyle scam Company with a disingenuous CEO out to fleece PI's whilst lining his own pockets as quickly as he can.

[ahhh luke warm] 14/1/2024 21:13

SG, team Ben, glancer s and chancers, Mr SG afforded us the following line:

> What is not clear is how much is at a fxd price.

I am obliged to adore about the candid misuse of optimistic wordage.

Lets remove “ at a fxd price “ and concentrate on “ what is not clear “

Are there enough hours to get to the bottom of what is not clear with this company, or indeed what is not clear when Mr Top arrives at the card table (with blues&twos), stay in character - to announce “ I ve brought the charity fund chaps - shall we go short or shall we go long? I m good at resuscitation don t you know . . .”

[purchaseatthetop] 12/1/2024 16:13

Trade payables were $4.2m out of the trade and other payables of $8m at 30/9/23. Up from $1.5m at 30/9/22.

I would not be surprised if Megahighwall were not paid and left to somewhere where they would get paid.

[bsg] 12/1/2024 15:05

Looks like it will go in to care and maintenance mode soon. I expect they'll still manage to pay themselves.

[papillon] 12/1/2024 13:28

BEN chart is awful. New all-time low achieved today.

[bad gateway] 12/1/2024 08:03

Don't want to be a gloomyguss but wasn't the $205-$211 range for breakeven dependent on a production/sales profile between 50KT's/month and 66-70 odd KT's/month?
Will have to re watch the vids but pretty sure thats what he was saying and from last RNS they don't seem to be there yet.

[dudishes] 12/1/2024 07:41

Closed short too early?

Positive side, sort of ie, catchup shipments, forward sales etc...

Negative side, lack of accounting facts and excuses (Newport/trucking etc...).

More important, P/L?

Result: share price Sept 18p reduced to 9p.

I think that is a 50% decline.

Maybe charlie may like to check my figures, he is an accountant afterall.

cheers

[purchaseatthetop] 12/1/2024 06:47

28/12/23 RNS

“Our average sales price in the period being only $118/ton against $166/ton for the comparable period in 2022”

And:

“The early part of the 2nd half of our financial year has seen a significant rise in the High Vol B met coal prices, from a low of $191/ton to a current price of $250/ton”

So, if the low for the year was $191 a ton and they averaged a revenue of $118 a ton, this shows that at best they get 60% of the headline met coal price that everybody looks at. integrity (ironic name) get the rest. As the average price for the six months was above $191 a ton this means BEN might only get 55%.

Given the fact as shown by their own RNS that they get only maybe 55% of the headline figire, that is why breakeven at gross margin level is $250 a ton. Believing anything Adam says is a risky game. Check the figures and is reveals the Emperor ain’t wearing a stitch. Glad to help.

[panander] 11/1/2024 23:58

$205 is breakeven - not $250.
[Shareholder Q&A Dec 5 2023]

[panander] 11/1/2024 23:52

$205 is breakeven - not $250. [Shareholder Q&A Dec 5 2023]

[purchaseatthetop] 11/1/2024 20:36

The worry is that at 30/9/23 they had $4.5m of customer upfront payments in the balance sheet.

[seagreen] 11/1/2024 20:32

What is not clear is how much is at a fxd price. especially as it gets an up front payment when its in the hopper so to speak....most things took a dive today....still no position for me.

[papillon] 11/1/2024 15:45

bad gateway 11 Jan '24 - 13:43 - 10985 of 10986
0 1 0
metcoals taken a dive. $230/T for hvb.

>>>>>>>>>>>>>>>>>>>>>>>>>>>

This is very bad news for BEN. It's not surprising that the share price is falling today.

[purchaseatthetop] 11/1/2024 15:24

Based on them needing $250 to breakeven at gross margin level, this is death dive time.

[bad gateway] 11/1/2024 13:43

metcoals taken a dive. $230/T for hvb.

[seagreen] 10/1/2024 20:03

been issues for several years

[purchaseatthetop] 09/1/2024 17:49

8/1/24 RNS said
“The reduced availability of trains was due to coal handling capacity issues at the Port of Norfolk”

Can anybody find any other coal mining company quoting this as impacting their deliveries? Answers on a postcard to [e-mail]

[purchaseatthetop] 08/1/2024 20:11

Says seagreeen looking in a mirror.

[seagreen] 08/1/2024 20:07

Maybe because you are not an accountant and you do not understand finance or cash flow or stocks and shares

[purchaseatthetop] 08/1/2024 13:58

I just wonder how on earth they have not got pop yet.

At 30/9/23 thry had $1.2m of cash and $1.8m receivables
But also advance cash from customers of $4.5m and current trade payables of $8.8m

They had negative net current assets of $15m excluding inventory and that must have got massively worse as selling just 60k tons while mining much larger amounts must mean gross margin loss, more overhead incurred snd more working capital.

Where on earth are thry getting any liquidity?

[seagreen] 08/1/2024 09:58

zzzzzzzzzzzzzzzzzz

[purchaseatthetop] 08/1/2024 07:17

So, 43k tons was inventory at 30/9/23
Let’s assume inventory was 95k tons 31/12/23
With output of 112k tons that means they sold 112+43-95=60k tons in three months.

The 30/9/23 interims showed the produced 205k tons in the previous six months, so 112k tons is a 10% improvement than that rate.
The 30/9/23 interims showed they sold just under 190k tons of coal at a monthly rate of 32k tons.

Therefore, sales in the last three months have been only 2/3rd of the six months to 30/9/23.

I love an Adam RNS. You have to work out what it really means. Here it means thry have sold even lower volumes in the last three months. But Adam doesn’t want to say so.