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Pin to quick picksBens Creek Share News (BEN)

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EARNINGS: Bens Creek sees "difficult" year; Challenger swings to loss

Fri, 29th Sep 2023 21:54

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Uru Metals Ltd - Toronto headquartered, mineral exploration and development company - For the year ended March 31, reports loss for the year of USD1.2 million from USD1.5 million a year prior. Basic and diluted loss per share was USD0.72 from USD0.91. Uru adds that the directors don't recommend the proposal of a final dividend. Chair John Zorbas says: "The Zeb Nickel Sulphide Project located on the Northern Limb of the Bushveld Complex remains the primary focus of URU, through its 75% interest in Zeb Nickel Corp. and URU's continuing role as the technical operator of the project...The recent exploration work conducted by Zeb has continued to demonstrate that the project holds one of the largest undeveloped repositories of nickel globally, and future drilling should demonstrate the continuity of higher grade nickelPGE mineralisation in the footwall of the historical nickel sulphide resource."

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Glantus Holdings PLC - Dublin-based provider of accounts payable automation and analytics services - For the six months to June 30, reports revenue of EUR6.4 million, up from EUR6.6 million a year prior. Pretax loss is EUR949,178, narrowed from EUR1.6 million the previous year. Loss per share is EUR2.40, compared to EUR4.09 year-on-year. On August 14, Genesis Bidco Ltd and the board of directors of Glantus said they had reached agreement on the terms of a recommended all cash offer by Bidco, which has been unanimously recommended by the Glantus Board and pursuant to which Bidco, a newly incorporated private limited company wholly-owned by Basware Oy, will acquire the entire issued and to be issued share capital of Glantus. Shares will have their last day of AIM dealings on October 5, following which they will be cancelled on October 9.

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Bens Creek Group PLC - Owner of a metallurgical coal mine in the US state of West Virginia - For the year ended March 31, reports revenue of USD42.2 million from USD5.4 million a year prior. Pretax loss is USD24.7 million from USD25.3 million the previous year, while basic loss per share is USD6.563 cents from USD6.165 cents. Adjusted earnings before interest, tax, depreciation and amortisation is USD8.1 million from USD3.4 million the previous year. Chief Executive Officer Adam Wilsons reflects that the financial year has been "difficult" with a "range of problems, mostly outside of our control, including a state of emergency storm in August 2022." Maintains, however, that Bens Creek has successfully passed "a number of milestones including the establishment of our underground mine, the commencement of rail deliveries and the introduction of a 2nd high wall miner. In addition, we successfully raised GBP6 million via a placing at 30p per share to fund our transition from contracted to employed staff and to finance our fleet of earth moving equipment, 'yellow goods'." Believes the year ahead will show " a substantial improvement".

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APQ Global Ltd - Guernsey-incorporated emerging markets investor - As at June 30, reports book value of USD5.6 million, down from USD7.2 million at the start of the period. Says the key drive behind the decrease in book value is the foreign exchange losses on the CULS of USD2 million. Book value per share in the period decreased to 7.07 US cents from 9.21 US cents. For the six months ended June 30, reports operating loss before tax of USD689,121, from loss of USD9.8 million year-on-year. Turnover was USD6.4 million, up from USD5.5 million. No dividends were paid in the period, unchanged from last year.

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Challenger Energy Group PLC - Caribbean and America-focused oil and gas company - For the six months to June 30, reports net petroleum revenue of USD1.9 million, down from USD2.7 million the previous year. Pretax loss is USD4.2 million, swung from profit of USD4.3 million a year prior. On August 30, Challenger announced a GBP3.3 million convertible loan note funding facility of which GBP550,000 has initially been drawn down, with future drawdown of the remainder at the group's option, subject to certain drawdown conditions. Challenger says this provides it with the cash resources to cover the funding requirements of the group and bridge any funding gaps over the course of the next 12 months.

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Nov 2023 15:39

IN BRIEF: Bens Creek shares up as agrees coal sale to Avani Resources

Bens Creek Group PLC - Owner of a metallurgical coal mine in the US state of West Virginia - Sass wholly-owned subsidiary Bens Creek Operations WV LLC agrees with Bens Creek's largest shareholder Avani Resources Pte to deliver three unit trains comprising a total of 33,000 short tons of Bens Creek High Vol B metallurgical coal. Says the delivery of the coal is expected to be made, subject to train delays, no later than the end of January. Says this sale is in addition to "existing and ongoing business". Says the coal is being purchased by Avani at a price which is "in line with current market rates for the sale and purchase of High Vol B coal" and that the quality of the coal will be "in keeping with standard production" from the Bens Creek mine. Says this agreement follows on from Avani entering into a non-exclusive sales and marketing agreement, as announced in July. Bens Creek Chief Executive Officer Adam Wilson says: "We are delighted to book our first trade with Avani. It demonstrates their ongoing commitment to the business, and it is the first step to what will, we hope, become a burgeoning and profitable partnership."

Read more
20 Oct 2023 15:44

UK shareholder meetings calendar - next 7 days

Monday 23 October 
abrdn New Dawn Investment Trust PLCGM re scheme and associated amendments to Company's articles
City of London Investment Group PLCAGM
Landore Resources LtdEGM re fundraising
Mothercare PLCAGM
Naked Wines PLCGM re annual report and accounts
Oracle Power PLCGM re capital reorganisation
Provexis PLCAGM
Tuesday 24 October 
Accrol Group Holdings PLCAGM
Oneiro Energy PLCAGM
Tufton Oceanic Assets LtdAGM
WH Ireland Group PLCAGM
Wednesday 25 October 
Arcontech Group PLCAGM
Hargreaves Services PLCAGM
Kavango Resources PLCGM re takeover
MGC Pharmaceuticals LtdGM re consolidation of capital, share placement
Pendragon PLCGM re strategic partnership with Lithia and name change to Pinewood Technologies PLC
Springfield Properties PLCAGM
Thursday 26 October 
Alumasc Group PLCAGM
Brooks Macdonald Group PLCAGM
Feedback PLCAGM
Filtronic PLCAGM
Global Invacom Group LtdEGM re cancellation of admission to trading on AIM
Hipgnosis Songs Fund LtdAGM
Hipgnosis Songs Fund LtdEGM re sale of portfolio
IMC ExplorationEGM re takeover of Karaberd
Made Tech Group PLCAGM
Mattioli Woods PLCAGM
Mid Wynd International Investment Trust PLCAGM
Novacyt SAAGM
South32 LtdAGM
Tirupati Graphite PLCAGM
TMT Acquisition PLCAGM
Friday 27 October 
Anglesey Mining PLCAGM
Bens Creek Group PLCAGM
Dialight PLCGM re admission of shares
KCR Residential REIT PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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4 Oct 2023 11:39

Bens Creek reports strong upswing in coal production

(Sharecast News) - North American metallurgical coal miner Bens Creek Group reported a substantial increase in production for the six months ended 30 September on Wednesday.

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4 Oct 2023 10:12

IN BRIEF: Bens Creek shares rise as produces more metallurgical coal

Bens Creek Group PLC - Owner of a metallurgical coal mine in the US state of West Virginia - Produces 50,100 tonnes of metallurgical coal in September, up sharply from 17,630 tonnes a year prior, and 17% higher than 42,691 tonnes in August. For the six-month period to September 30, coal output more than doubles to 204,998 tonnes from 99,928 tonnes year-on-year. Bens Creek expects October production to rise from September. Chief Executive Officer Adam Wilson says: "With both highwall miners now in full operation the company expects to be able to continue the growth in production into the next quarter. This increased production is further enhanced by the reduction of costs per ton from June 2023, and the recent rebound in the met coal price from its lows of USD191 in August 2023 to USD238 at the current time."

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20 Sep 2023 15:50

UK earnings, trading statements calendar - next 7 days

Thursday 21 September 
Aquis Exchange PLCHalf Year Results
Chesnara PLCHalf Year Results
City Pub Group PLCHalf Year Results
Corero Network Security PLCHalf Year Results
CVS Group PLCFull Year Results
DFS Furniture PLCFull Year Results
Fonix Mobile PLCFull Year Results
Halma PLCTrading Statement
Investec PLC and LtdTrading Statement
James Fisher & Sons PLCHalf Year Results
JD Sports Fashion PLCHalf Year Results
Life Science REIT PLCHalf Year Results
Next PLCHalf Year Results
Octopus Renewables Infrastructure Trust PLCHalf Year Results
Sondrel Holdings PLCHalf Year Results
SSP Group PLCTrading Statement
Strix Group PLCHalf Year Results
Friday 22 September 
Ascential PLCHalf Year Results
Ergomed PLCHalf Year Results
First Tin PLCHalf Year Results
t42 IoT Tracking Solutions PLCHalf Year Results
t42 IoT Tracking Solutions PLCTrading Statement
Monday 25 September 
Alphawave IP Group PLCHalf Year Results
Devolver Digital IncHalf Year Results
Dialight PLCHalf Year Results
Getech Group PLCHalf Year Results
Ondine Biomedical IncHalf Year Results
Real Estate Investors PLCHalf Year Results
SpaceandPeople PLCHalf Year Results
Spectra Systems CorpHalf Year Results
Transense Technologies PLCFull Year Results
Venture Life Group PLCHalf Year Results
Wilmington PLCFull Year Results
Tuesday 26 September 
Alliance Pharma PLCHalf Year Results
AG Barr PLCHalf Year Results
Animalcare Group PLCHalf Year Results
Asos PLCTrading Statement
Boku IncHalf Year Results
Card Factory PLCHalf Year Results
Cambridge Cognition Holdings PLCHalf Year Results
Close Brothers Group PLCFull Year Results
Diaceutics PLCHalf Year Results
DigitalBox PLCHalf Year Results
Dillistone Group PLCHalf Year Results
EKF Diagnostics Holdings PLCHalf Year Results
Ferguson PLCFull Year Results
Finsbury Food Group PLCFull Year Results
IQGeo Group PLCHalf Year Results
Learning Technologies Group PLCHalf Year Results
LifeSafe Holdings PLCHalf Year Results
Mission Group PLCHalf Year Results
Mortgage Advice Bureau Holdings PLCHalf Year Results
NAHL Group PLCHalf Year Results
Next 15 Group PLCHalf Year Results
Newmark Security PLCFull Year Results
NIOX Group PLCHalf Year Results
Origin Enterprises PLCFull Year Results
PZ Cussons PLCFull Year Results
Safestay PLCHalf Year Results
Smiths Group PLCFull Year Results
Time Finance PLCFull Year Results
tinyBuild IncHalf Year Results
Wentworth Resources PLCHalf Year Results
Yu Group PLCHalf Year Results
Wednesday 27 September 
Amicorp FS (UK) PLCHalf Year Results
Aquila European Renewables PLCHalf Year Results
Arix Bioscience PLCHalf Year Results
Avingtrans PLCFull Year Results
Bens Creek Group PLCFull Year Results
Biome Technologies PLCHalf Year Results
BioPharma Credit PLCHalf Year Results
Chapel Down Group PLCHalf Year Results
Everyman Media Group PLCHalf Year Results
Fadel Partners IncHalf Year Results
NCC Group PLCFull Year Results
Old Mutual LtdHalf Year Results
Pantheon Infrastructure PLCHalf Year Results
Pendragon PLCFull Year Results
Plant Health Care PLCHalf Year Results
Safestyle UK PLCHalf Year Results
Saga PLCHalf Year Results
Skillcast Group PLCHalf Year Results
Surface Transforms PLCHalf Year Results
Xeros Technology Group PLCHalf Year Results
Zinc Media Group PLCHalf Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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13 Sep 2023 12:05

Bens Creek breaks clean coal production record in August

(Alliance News) - Bens Creek Group PLC on Wednesday said it recorded its highest monthly production in August, despite only having one functioning highwall miner.

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14 Aug 2023 09:49

Bens Creek highwall miner set to restart operations

(Sharecast News) - North American metallurgical coal miner Bens Creek Group announced on Monday that highwall miner unit 81 (HWM 81) is set to restart operations by 21 August.

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14 Aug 2023 09:28

IN BRIEF: Bens Creek Group highwall miner unit 81 to return to use

Bens Creek Group PLC - owner of a metallurgical coal mine in the US state of West Virginia - Says the highwall miner unit 81 is expected to recommence operating on Monday next week. In June, Bens Creek said arrival, installation, and start of operations of highwall miner unit 81 was temporarily withdrawn from service, as it waited for completion of repairs and the re-establishment of necessary benching after a mining incident earlier that month.

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26 Jul 2023 14:18

TRADING UPDATES: NewRiver hails performance; AFC Energy gets grant

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
11 Jul 2023 14:54

Bens Creek issues $7.6m in new, unsecured loan notes

(Sharecast News) - Metallurgical coal miner Bens Creek announced the issue of $7.57m in unsecured loan notes to ACAM on Tuesday.

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11 Jul 2023 13:15

IN BRIEF: Bens Creek issues USD7.6 million of unsecured loan notes

Bens Creek Group PLC - owner of a metallurgical coal mine in the US state of West Virginia - Enters into unsecured loan note agreement with ACAM LP for a total subscription of USD7.6 million of loan notes, for the now cancelled USD6.0 million of convertible loan notes issued to ACAM on December 14. Loan notes have a term of 18 months, and are not convertible into company shares. Bens Creek issues ACAM with a total of 21.1 million warrants to subscribe for shares in Bens Creek exercisable at 28 pence per share. Warrants have a life of 5 years from issue date.

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7 Jul 2023 11:59

IN BRIEF: Bens Creek issues loan notes to raise USD6.5 million

Bens Creek Group PLC - Owner of a metallurgical coal mine in US state of West Virginia - Raises USD6.5 million through the issue of loan notes to shareholder Avani Resources Pte Ltd. Says loan notes have an 18-month term. Adds issue of loan notes to Avani is a related party transaction. Avani owns a 30% stake in Bens Creek. Bens Creek currently has an outstanding convertible loan note of around USD5.6 million with ACAM LP, issued in February, due for repayment by the end of summer. Proceeds of the issue of loan notes will be used to repay ACAM and for its general working capital requirements.

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26 Jun 2023 17:33

TRADING UPDATES: New patents for Sareum; Guanajuato hails assessment

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News:

Read more
12 May 2023 11:46

Bens Creek welcomes 30% stake purchase by Singapore's Avani Resources

(Alliance News) - Bens Creek Group PLC on Friday said Avani Resources Pte Ltd acquired just under 30% of its shares.

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