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The company will have no choice but to suspend the shares and put the company under administration in order to protect the lender and protect the assets. Nothing for shareholders left. Avani will not advance further loans. There is no point. Wind the company down and take all assets to cover loans.
Small shareholder will not want to see this outcome but it is coming. Why put more in and keep a listing? It will get the company for free by refusing further loans. DELISTING on the cards.
...and not reply to those with shorting agendas. Otherwise they're getting paid for it as well.
Let's see what Avani come up with.....
The energy transition is real. (hopefully)
GLA
There is no viable business here. With staff gone, there will be little production. No value left here for the shareholder. Someone will take this over from ADMINISTRATORS. We know who will work this out. Shareholders to lose out.
It will not come out of care an maintenance. Yes value for someone perhaps. Shareholders wiped out. AVION to take over in a private deal looks like.
Rob1967
Thank you for being polite!
:-)
Can't buy a bean RN
It's a shell that owes a fortune on the basis that it will deliver coal.
It's not producing.
Even when it starts again it will need cash to get going.
Share holders will be left with nothing
DYOR and not advice just my expectation.
Brave man…
I reckon BEN is worth more than £1.5m, so I bought.
Not that I’m advising anyone else to!!
Ilovesushi gloating I see... makes you feel good ? get a life
DOWN 40%
0.1
0.2
4k loss.... I'm over to HE1 to regain...damn
0.4 or lower is coming.
Title should have read: Easy to read ONLY the negatives..
"Furthermore, the Board took the decision that, effective from 11 April 2024, the mine will be operated on a care and maintenance basis FOR THE TIME BEING"
and goes on to say:
"Avani Resources Pte Ltd ("Avani"), the Company's largest shareholder, main offtake partner and lender, is currently in discussions with Bens Creek on the terms to provide additional financial support to the Company....."
This is far from over.
GLA
Needs a medal he warned people for a very long time he was up on his game .
Ex ceo adam knew imo the game was up
What has happened here , When i was a scrap merchant i had agreements for all year prices with a few . SOME wanted spot price and at times they won .HOWEVER with my agreements i guaranteed there supply all year round .WHERE AS OTHERS COULD NOT .I HAD EXTRA BARNS TO STORE AND USE TO BUY WHEN THERE WAS GLUTS AND BUY A YEAR A HEAD .Shame the coal game dont work like that nobody should be a busy fool
9 Apr 2024 13:06
Looks like the company has run out of cash. The business has burn through its cash pile and cannot sell the coal it has mined profitably. Its the end of the line.*** "Back to care and maintenance". ***Shares to be suspended in weeks".
I said it was going to happen. Just announced. Also said it was out of cash. That was announced. The company is finished sadly. Was never going to continue if it costed more to mine coal than the price it got for sales. RIP
Looks like the mourning ( sic.) traders have arrived for the last rinse. Karma
Looks like the company has run out of cash. The business has burn through its cash pile and cannot sell the coal it has mined profitably. Its the end of the line. Back to care and maintenance. Shares to be suspended in weeks.
Being laid off at Bens Creek