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I did not realise Avanti was a charity.
So is 13% interest for a loss making mine which even Avani realise that their investment will not make a profit and the ability of Ben to pay the interest on the loans is impossible.
10% is a relative term ffs.
"10% traders" have no impact at all on this share. It hardly ever goes up 10%. All it does is go down.
10% 'traders' and I use that term loosely ,will not only damage this share but kill the market itself.
"Looks like the market does not agree with the doom mongers"
And now the little spike is done and dusted the share is back at all time low. So yeah, market agrees.
The only thing that can save this is a miraculous and sustained increase in coal price.
First time I've seen Aussie met prices under threat by US competition but sounding like mets halcyon days are over?
"Australian HCC metallurgical coal quotations tumbled to 305 USD/t because of higher supply as well as limited demand from India, with Indian traders ready to return to buying Australian material if prices adjust to the level of the US coal quotes.
In China, the buying activity remains subdued since steel producers face slowing demand for their products, as evidenced by the PMI index, which has been in contraction for two consecutive months. Last week, the China Steel Industry Planning and Research Institute forecasted a 2% drop in steel demand to 875 mio t in 2024."
https://thecoalhub.com/world-coal-market-brief-overview-115.html
I rest my case.
Maybe a slight reality check needed. If METB continues down under $200 Ben are toast.
Why unremitting negativity? Surely the sensible thing is to move on unless there is some other agenda perhaps.
Senta add in shipping costs, broker fees etc breakeven $205
BEN is pretty much making SFA at the moment and if they are having to truck some deliveries then they are making a loss.
Latest working capital RNS stated that anything over $120 would go towards paying off this financial agreement.
One could derive from that, that this is a breakeven point. AW has always been very secretive with the actual cost
and hinted here and there, but never confirmed anything as it’s deemed competition/business sensitive information.
The financial arrangement entered into recently would obviously not run at a $85 loss a tonne to the company ( 205-120 ),
as this would bankrupt the mine in a matter of weeks, which doesn’t help anyone, and no, not Avani either before the take-over conspiracies start again.
AW quotes in many interviews that at 50-55k of Met coal /month breakeven is $205
METB currently stands at $208
Good riddance to the mouth piece..he wont be missed
Big issue is that you misread the last few RNS’s and failed to notice
that Adam Wilson isn’t the CEO anymore as of yesterday.
Big issue with BEN short term is that the CEO has completed misread the Market for MET B
Huge risk here is that MET B goes below breakeven for a sustained period,
Operation would surely be Mothballed and taken over by Avani
Looks like the market does not agree with the doom mongers .
It was always going to be like this when avani made the loans. They would take the profit until cleared. That's how it is. Important thing now is to maximise production, sales and shipments. We know cost per ton reduces with increasing volumes, so profit per ton as well as absolute will increase. Strengthening met coal price has potential to quickly boost this. I'm hoping avani involvement + motivated new mgt may be able to find more production efficiencies. No reason to think we won't have sales for 2 months when avani is buying it. Anticipating avani have influence with NS to ensure steady flow of trains. If additional offtake materialises that will further help all of above.
The company can't do anything else can it? The asset is the mine and installed plant. They have debts bearing interest, they need cashflow or go bust.
Numerous posters have speculated that $200/t is breakeven for BEN. Perhaps $120 covers the direct operating costs, but none of the administration, overheads etc.
Either way, it doesn't leave anything for shareholders. That maiden dividend that Adam and the "Sunday Roast" amateur rampers liked to talk about is never going to come.
Why would Ben carry on operating the mine, when there is no incentive for the company?
"would be a"
With the quite specific wording ie "The repayment amount will be the excess of $120 short ton for coal sales achieved by BCO" wouldn't imagine this makes their operations "lossmaking." and would think that would a contract that couldn't be enforced if so.
More than likely $120/short ton covers their AISC and not much else and can't blame avani if so. Hopefully with them at the reins trying to recover their loans the co. will do better than with Adam just trying to scrape together enough revenue from ops for his next bonus payment but we'll see.
But really, why wouldn't Ben be able to sell anything for two consecutive months anyways?? I mean it's not really that hard to achieve this target imo
Very clever indeed. It means Avani now pretty much own the mine and no more bonuses for fat Adam and Co. Very well planned imo