We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
charlie - i agree, as long as they hear about BEN and can quickly get the key info, then I can't see how they could resist! (I may be biased!)
DropD, I was thinking this could hang around 40p for a while now, but actually I am starting to think the same as you. There is so much carnage on the market at the moment, that people will be looking for a stock to invest in where they can see a clear trajectory to profit that is increasing in the short, mid and long term, with locked in management making up around 75-80% of the free float (that's in the prospectus, I triple checked that detail).
come on haggis, there's loads of possible news, confirmations etc over coming days, weeks, plus the possibility of something(s) unexpected. and as AW said, if in unlikely event more CLNs are issued, that will only be to take advantage of a short term opportunity where the benefits to shareholders greatly outweigh any cost. Also got the fact that BEN must be attractive now in the wider market - its held up very well today compared with almost everyone else and is looking very robust going forward - I would expect quite a lot of people will be moving funds this way after suffering today and much uncertainty ahead (though not in BEN!)
Haggis - the CLNs were issued to / by ACAM. Where you say we might see a dip as a result of dilution with more CLNs....There has been no dilution from CLNs so far. None of the convertible loan notes have been converted into ordinary shares...we know because there has been no RNS to state that the share capital has increased. To my knowledge, ACAM intend to rollover the CLNs so that they can accumulate the interest and then convert them when the share price is much higher.
So I don't know what dilution there could be in the next few weeks if the CLNs are not converted? There are a couple of million outstanding warrants but in terms of volume that's the same as two trading sessions and the market absorbed 900,000 last Thursday without any impact at all.
Charlie, the CLNs were issued to Barclays I think, and I'm sure they're smart enough to hold on to the stock given what's ahead. They're never gonna be short of a few mil, causing such desperation that they have to sell a stock with such potential.
Fingers crossed.
Will receipt of the payment warrant an RNS?
Based on Adam's info today, I cannot see an major rises here until late Feb or into early March. If anything, we might see a dip as a result of dilution with issuance of more CLNs.
Happy to sit around 40p for a while.
Penstock - I thought with the CLNs that the lender are retaining all the stock. I didn't hear anything in the interview to the contrary, did you? I think we would know by now if it was being sold through as there would be some large sells...so it does look like they are retaining the stock and accumulating more stock from the interest as a longer term accumulation.
· Shipped 1000T rawcoal HighVolB by road Tuesday @washed price, paid Friday
· Shipping 1000T daily
· 2HWM onsite mid Feb to double production
· 1000ft depth mining = 1000T per day x 2 HWM
· Fix washplant to test stage in next 2 weeks to make better grade = higher profit
· CLN was used for 1200acres BEN2 & 2nd HWM
· intention to deep mine Ben2
· may need another CLN to buy 2nd rail and 2nd washplant and another redundant mine (BEN3) plus it's reserves
· Will only cash raise if the benefit to Ben & shareholders > effect of dillution
· bad weather has had little impact on progress
· train will commence in March by which time washplant will already be in full operation
·100mTpy High VolB based on 80KTpd at $310 per short tonne
·High VolA at Ben2 (1200 acres) gets $400pT
·will combine VolA from BEN2 with VolB from BEN1 to sell as VolB+
·3rd HWM to be considered to treble profits
· dividend of purchase price (10p) intended. At current sp that is 25%!!
·every $1 increase in coal price adds $1m to annual turnover!
Check it for yourself (DYOR) by listening to this podcast from the Roast crew: https://audioboom.com/posts/8017904-midweek-takeaway-with-adam-wilson-ceo-of-bens-creek-aim-ben