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

Wed, 04th Oct 2023 10:12

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."

We remain optimistic for the future for the Company."

Current stock price: 14.73 pence, up 7.1% on Wednesday morning in London

12-month change: down 49%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

More News

2 Aug 2022 14:09

Bens Creek working to recover from Appalachia flooding

(Sharecast News) - Coal mine owner Bens Creek updated the market on its infrastructure on Tuesday, following severe flooding in the western part of West Virginia and in Eastern Kentucky since 27 July.

25 Jul 2022 14:17

IN BRIEF: Bens Creek falls on weak coal price due to Russian coal bans

Bens Creek Group PLC - operates metallurgical coal mine in US state of West Virginia - Estimates that coal production from April to July was likely to be around 80,000 clean tonnes. Anticipates monthly production from August onwards to be to roughly 40,000 clean tonnes, or 80,000 raw tonnes. This is in line with its production targets and will be enabled by underground mining, which started recently. Sold 44,000 raw tonnes to Integrity Coal Sales Inc from December to March 31. Notes the last two months have seen considerable market price volatility for coal.

12 Jul 2022 10:27

IN BRIEF: Bens Creek hires Murat Erden as new chief financial officer

Bens Creek Group PLC - London-based mining company focused in North America - Hires ARCH Emerging Markets Partners Chair Murat Erden as its new chief financial officer, effective immediately. Bens Creek says Murat has over 25 years of experience in private equity, banking and technology. He served as the chair of private equity firm ARCH since 2018. Prior to that, he served as the CFO of NYSE-listed Turkcell, a communication and information technologies company.

12 Jul 2022 07:45

Bens Creek names Murat Erden as CFO

(Sharecast News) - Coal mine owner Bens Creek has tapped Murat Erden to take over as chief financial officer of the group, with immediate effect.

29 Jun 2022 14:28

IN BRIEF: Bens Creek knows no reason behind fall in share price

Bens Creek Group PLC - London-based mining company focused in North America - Notes recent drop in share price, and confirms it knows "no specific reason" for the share price movement. "The company confirms that there has been no material developments since the update released by the company on June 27 2022," the firm says.

27 Jun 2022 14:58

IN BRIEF: Bens Creek expects boost to monthly production capacity

Bens Creek Group PLC - London-based mining company focused in North America - Says it expects an "increase in production capacity to up to 80,000 tons per month" at its two highwall miners. It says the supply of a second highwall miner by Mega Highwall Mining LLC will be completed during July this year. Bens Creek expects the second highwall miner to have a production target of between 32,000 and 40,000 tons of metallurgical coal per month.

16 Jun 2022 18:21

IN BRIEF: Bens Creek notes favourable report on West Virginia assets

Bens Creek Group PLC - London-based mining company focused in North America - Reports updated reserve base evaluation undertaken by Marshall Miller & Associates Inc of its coal properties in Mingo County, West Virginia.

8 Jun 2022 12:17

TRADING UPDATES: City Pub Jubilee boost; Fulham Shore fights inflation

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

6 Jun 2022 12:10

TRADING UPDATES: Nanoco ups outlook; Seeing Machines wins deal

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

6 May 2022 11:53

Bens Creek CFO to resign as firm seeks further independence from MBU

(Alliance News) - Bens Creek Group PLC on Friday announced steps to increase independence from its largest shareholder, MBU Group Capital Ltd.

6 May 2022 11:46

Bens Creek working to increase independence from biggest shareholder

(Sharecast News) - North American coal miner Bens Creek Group said in an update on Friday that it was taking "a number of steps" to increase its independence from its largest shareholder MBU Group Capital.

14 Apr 2022 21:36

TRADING UPDATES: Polar Capital assets up; Brooks Macdonald funds fall

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

14 Apr 2022 12:19

Bens Creek enters sublease to mine adjacent land

(Sharecast News) - North American coal miner Bens Creek announced on Thursday that its BC Operations subsidiary has entered into a coal sublease agreement with Star Ridge Land.

14 Mar 2022 11:32

Bens Creek upbeat on latest production, delivery data

(Sharecast News) - North American metallurgical coal miner Bens Creek updated the market on production and deliveries on Monday, confirming completion of the first purchase order from Integrity Coal Sales of 17,000 raw tonnes - equivalent to around 9,000 clean tonnes.

14 Mar 2022 11:26

Bens Creek jumps monthly coal supply deal and positive price outlook

(Alliance News) - Bens Creek Group PLC said on Monday it will supply 264,000 tonnes of raw coal to New York-based coal supplier Integrity Coal Sales Inc on monthly basis beginning from April.

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

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