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NOT all time lows. At current met coal price, production and sales BEN is profitable.
Production and sales increasing to 70k+ tpm. Production costs reduce and profitability improves.
Demand for met coal strengthening as demand for steel increases and some production reduces.
Avani will have known all finance figs etc when buying in at 18p and supporting with loans. They are also BEN gateway into India which is a strong market
New All Time Lows.
And expect it to go lower. Much lower. With coal prices at this level the company cannot continue to operate. Losses will get larger as prices continue to drop as there is over-supply. All reasons this could eventually head back to being mothballed.
You cannot continue a business where it costs more to operate than income received. This is very very very bad. Heading to 5.0 and below.
He/her thinks its a mess because they are trading or shorting -talking to suit their book---
Sounds very much like they need this $250/T minimum going forwards. $280-$300 would be better..
"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. This will bring our sales prices to levels seen in the comparable period in 2022. This has resulted in an improved order book and it has allowed us to commit to sales through to the end of the third quarter which, if trains booked run to schedule, could see the Group produce its first monthly profit. We are also delighted to announce that a number of those confirmed trains have been negotiated with Avani to be shipped to India. This will help the Company enter the Indian market, which is a key target for the future."
None of that is news, Adam has explained it multiple times over the last few months.
I've no idea why you think it's a mess, it's market economics. The market, if you belive the commentators, is on a bull run. Enjoybthe ride from here!
If there is a downward cycle this could to back to mothball from whence it came. No point in mining a product if it costs more to mine than the amount they can make from selling. Bad business. They will eventually have to make redundancies and pull back on supply. What a mess.
Am I correct in thinking we may be expecting a quarterly update in early Jan 24?
We had a half yearly update in early October for period April - Sept 23.
Merry Xmas to all and GLA
Hold Ben & also some GCM. Guess coal is coming a necessity in both regions for these two stocks.
GCM Resources plc (LON:GCM), the AIM listed mining and energy company, has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh.
They have had one aim since IPO - to bring AW down. Its personal.
Unfortuntely things have played into their hands throughout 2023.
Im very hopeful that 2024 will be rebound for BEN and for those of us who believe in BEN's business and have stuck by the Co through a tough year.
IMV prospects for met coal for next 10 years are looking good.
Season's Greetings to all fellow BEN-believers, and let's look forward to a good 2024!
Only mean advfn Padd1, just they're quite noisy on there. Think its correct enough to call it the shorters thread?
Panman - can you elaborate or your last post. What site? Whose consensus?
Sorry been away and not been following.
Bar stewards
A$285 B$255
They're expecting results this week on the other site and consensus there is that they'll be poor leading to the eventual collapse of the co. as the sky falls so not too surprising to see the dip last couple of days imo.
Good to see metcoal recover today all the same thought the metcoal A drop may have been a precursor for a dip in B. Glad it wasn't.
@rpg7 : I have been looking at trades as I saw no reason for the recent recovery, and just about every day there are thousands of £ sales and few buys. Even when it went up on general market sentiment. Looks like a sell-off to me.
HOVOL B - up another $5. Now at $255. And yet the share price keeps declining. So much for the share price correlation to met coal !
Probably traders thinking they’d turn a profit pre Xmas but now need their money out..
From the sp it looks like a sell off until you look at the trades -what a bullsh-te market this really is!
-3 A$280 B still $250
A-$7 283 B still 250
Still need buyers /investors not plank traders,
Yes this is brilliant news. Shows that the blockage (caused by NS trains, not port issues) has been resolved. Also good that train activity expected by AW has happened ie delivering on stated expectations (which has sometimes not been the case in the past). It has cleared 66k tons from the stockpile which releases storage capacity to enable further production increases towards the target 70k tpm. Shows NS are taking BEN seriously in scheduling so many trains in short space of time - it must be the most intense period of train activity since IPO. And it means we've sold 66k tons, got the money in and made around £2.5m profit from those deliveries alone.
A sign of things to come. Setting BEN up very well for 2024. GLA
Thanks Mark, 2 trains a week for the last three weeks is very good news imo.