Bens Creek Share Discussion Threads

[seagreen] 21/2/2024 09:30

GPM's issue is potentially they have quite a high overdraft if you look at the accounts and being a close end fund they can only raise money it would appear via a subscription which is set at the begining of the year and is now materially higher that the current share price (how ever unfair that share price might appear to be as in theory it is trading at a sunstantial discount to the BID NAV). Something that remains a mystery unless their NAV just relates to their stock holdings and does not reflect liabilities etc I should look I guess.)

Where as the JP Morgan global fund has raised shares in a secondary issue in line with the current share price.

[seagreen] 21/2/2024 09:13

Historically I would concur when certain hoods transfered their assets via BVI companies etc but these charlatans have been chucked out of AIM in the main.

I also have concured that the level of bonus payments particularly in the second year in this case were unjustified, extraorinarily high and frankly revolting considering the delays and the potential further delays that must have been clearly apparent when the remuneraton committee approved them.

You know the BOD's are working for shareholders when they take shares in lieu of salaries and bonus. (the EISB CEO has put 75% of his shareholding up as a guarantee for the convertible so I respect that. Although that could result in a cheaper take over for example.)

The converse argument is that if you pay peanuts you get monkeys, some would look at MP's low salaries as compared to business salaries and wonder why genuine leaders do not become MP's.

You have to pay the going rate or you will not be able to attract good people, what that is depends on your political leaning I suspect. But as the shorters are presumably making money through the capitalist system as opposed to just trying to destroy the capitalist system by taking personal risk is far from convincing.

In BEN's case there has a lot of assumptions and posts that have not been proven that the initial loans were ilegally traded for shares when it was clear in the prospectus and yet there is no evidence that some of the key holders sold these shares without declaring these sales and no clear evidence of the dark arts or ilegal behaviour. Certainly the CEO has not sold a share. The big error was the convertible structures when the broker was crying out the demand was there for a secondary rise at a multiple of the IPO price, Then of course the majority holder ran into financial pressure when they could have found a strategic partner like Avani at a multiple of the price struck. This in my view is circumstantial evidence they believed they were nearing full production but the trains issue seems to have thwarted this.

ENET took the disasterous route of death spiral finance. PXC did not take a strategic investor as I sugested but I have a feeling that may be because their resource is not JORC compliant (Canadian compliant I believe), they do not have a feasibility study that is "bankable" and their continual assertion the final permit is a foregone conclusion may turn out to be false. Plus greed of the board not wanting their cheap stock to be diluted.

All these issues have been highlighted accross AIM due to the global economy where with resources it seems China is the lender of last resort. (Bit like Africa)

I just do not buy the level of suposed skuldugary that is pedled as AIM is currentely regulated to death some would say.

I would ban short selling of AIM companies if it is to survive but people will probably find ways round that in an unregulated manner via derivatives.

Things will improve but it will take interest rates to fall significantly I suspect.

Each case is diferent

[dudishes] 21/2/2024 08:33

Charlie,

Replace "long term cash flow models"

with

"Short term cash in pocket models"

More appropriate what?

[dudishes] 21/2/2024 06:17

G'day papillon,

The 3 shares I mentioned were SHEL, WTB and BA.

I'm short BA. @ 1252, results today.

Other two, no decision as yet.

I take your point re AIM. I'm very short term in that area.

cheers

[papillon] 21/2/2024 00:30

I just adore figures! When I was young it was the figures of glamorous film stars, such as Sophia Loren, Marilyn Monroe, Brigette Bardot, etc, now it's figures of a more abstract nature! 😁
What caught my attention today was that BEN & EISB were both down by 9.52%. I wonder what the odds were on that?

PS I'm not "knocking" AIM, seagreen, but, in my long experience, over 90% of the minnows listing on AIM (and the dodgy Standard List) prove to be awful investments (I should know as I've had a punt on some right dogs in the past! 🤬). I suppose they float as small fish in a large pond, soon flounder and fail to survive and grow into large fish. It's a tough, competitive, world out there for small fish. Only the fittest and most agile survive and grow

[papillon] 20/2/2024 23:08

🤣 👍

[seagreen] 20/2/2024 20:50

The honest and less crazy looking one 8-)

[papillon] 20/2/2024 19:59

Which one is meant to be me? 🤣🤣

[seagreen] 20/2/2024 18:14

Stay tuned for the next AIM bashing from PAT and PAP on the BEN thread

[papillon] 20/2/2024 16:01

Even with nickel back at 2022's high price the latest funding requirements to turn HZM's Brazilian prospect into a mine likely makes it uneconomic to proceed.
Similarly even with the Met Coal price back at 2022's high of $440 the very hyped BEN share price high of just over a £1 was wildly over optimistic based on BEN's actual production figures since the IPO. The actual production figures show that the early company forecasts, issued officially and especially via social media, were wildly over optimistic. Did the BoD know that at the time? If that was the case you'd have a hard job proving it.
Shareholders can be very gullible. It's best to take what the Directors of AIM listed shares forecast with a large pinch of SALT (very apt bearing in mind SALT is the latest share to be over-hyped).That apples to ENET and EISB as well as BEN & HZM. Hopefully Penstocks (BEN), purchaseatthetop (ENET) and davethechef (EISB) have learnt from their experience and don't fall in love with a share in future. However that's unlikely given davethechef's current love is SALT!

[purchaseatthetop] 20/2/2024 14:54

Don’t ever claim that BEN was anything but a share pump.
From the getgo AW issued endless pumping RNSs based on hot air
RoastPR merrily pumped away with endless podcasts
Paid analyst WHIreland issued ridiculous valuation.
Board rampers emphasised all the guff
Insiders paid themselves huge salaries and bonuses plus expenses
Unknown loan participants dumped tens of millions of shares secretly issued to them at 10p

Neither HZM nor BEN had a DFS to show how to mine. But with BEN there was never really an intention to mine. They pretended to mine with Highwall miners.

[seagreen] 20/2/2024 12:40

We get it you have some personal issue, you set up a log in November 2022 location Istanbul Tukey purely to berate Mohamed Iqbal and MBU. If you have proof or a genuine issue go and talk to the proper authorities.

[whowantstoknow] 20/2/2024 12:16

Mohammed Iqbal and Adam Wilson are a bunchy of fraudsters, plan from the beginning was to fleece as many investors as possible to fund their lives.

[papillon] 20/2/2024 11:36

Proof that it pays to take heed of my log charts! Gamblers had a possible 10 bagger in the 6 months following BEN's IPO when my charts were strongly bullish. They should have banked their profits when they turned strongly bearish. It pays not to be too greedy!
Unfortunately I didn't start following BEN until after the bearish descent had started. Not that I gamble on coal miners these days, even Met Coal miners, because of greenhouse gas emissions.

[papillon] 18/2/2024 21:22

AMRQ Ichimoku chart showing Heiken-Ashi candlesticks. The chart is still Strongly Bullish, but it's possible it's peaked. Maybe only temporarily?

[papillon] 18/2/2024 21:18

AMRQ log chart showing EMA's and 14 day RSI. This chart has been Strongly Bullish for over a year.