Member Info for ART123

Bens Creek Group plc

("Bens Creek" or the "Company")



Statement re. share price movement



Bens Creek Group plc (AIM: BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, notes the share price fall today and can confirm that it knows of no Company 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 27 June 2022.

This presentation clearly says:

"The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates."

note 'multi TCF gas resource'.

With Canada down 18.37% yesterday after the LSE closed this will probably drop further tomorrow.

Besides it is very naive to rush to buy more on the first signs of a pullback after such a fundamental change in the host country. This could take a while to work out.

Besides there will be plenty of time to see which way this is going to go without the need to rush to buy more at the first sign of a pullback within only days of the presidential election.

The problem is that you are not an investor - you are nothing but a gambler who has got lucky a few times but still doesn't know the difference between a sound investment and a reckless bet.

What sort of an idiot puts huge sums on an oil/gas exploration drill (ADV) - no one with any sense would, however great the COS.

This oil exploration/production outfit (AXL) are the same. You cannot ignore the recent election result and this has now become not much more than a gamble. Before the election result this was a safe jurisdiction - now it is not. Now it might be good - or it might all go belly-up.

The market has already started to factor in the risk with another 11% fall today, despite some punters buying into the fall and this adjustment may increase further.

MountTeide and anyone else who might be interested.

You are either a massive blagger and disruptive influence here OR a massive loser, or even too loaded to even care. I am really not sure which applies.

I and anyone else here can read your posting history and it is perfectly clear that you were previously a very big fan and investor in Advance Energy (ticker ADV). You posted on the Advance Energy board a number of times during the run up to their drill with your final post on 30th November 2021 saying:

"Added a final 721k at the 3.9p Bid price to take the holding up to 7.0m."

7,000,000 shares at 3.9p equals quite a lot of money. People can work it out for themselves but I make it about £273K.

Of course, as we all know the drill was a duster. I agree it should not have been and with such a high chance of success to drill dry was not expected but that was the unfortunate result and the share price immediately tanked to around 0.25p - that is about 15 times less than 3.9p. It has since fallen to about 0.11p - 35 times less than your average of 3.9p.

Either you must have sold at a quick but massive loss - and taken a hit of about £250K - or maybe you still hold them in which case they are worth about £7,000 - OR maybe you never had any in the first place (which I think would please me and most other posters here) and you are just a massive blagger.

The really odd thing is that MountTeide never even bothered to post anything on the Advance Energy board when the drill result was announced on 19th January 2022 and he has never posted on the board since. How strange for someone claiming to hold 7,000,000 shares!!!

My point here is that you need to take the Columbian election result seriously and not continue to post about your holding here like so:

"Recently added 200k(2 x 100k) and another 260k(119k + 141K @ 13.4p) today to take the holding to 2.66m - lifting the average from 7.8p to 9.5p."

when you obviously have such a very poor track record investing in oil shares.

Of course, if MountTeide can afford to take a £250K hit on a share and barely notice it or even care then jolly good for him but that is not the situation that most posters on here find themselves in.

By the way I did not hold any Advance Energy shares pre-drill results; nor do I hold any AXL shares at the moment.

Not that this will completely collapse because they have good steady production rates at super-high oil prices but

I got the impression from the interviews that the CEO felt that there was far more gas than they expected in this first Paradox well. In fact, his wording was at times that the amount of gas almost made the well untenable.

Couple that with the Crypto plans - with bitcoin in total freefall......

Plus, if you listen carefully to the last couple of interviews, the CEO is very optimistic with his predictions of the pipeline being completed and in service by early next year. In truth it could equally be late next year.

Sorry, I hit the wrong key and my post posted itself before I was finished.

Let me continue.

If XTR does hit the 2 million tons of contained copper that will have an in-ground value of a staggering $18 Billion - more than twice the value of the GGP asset when their m/cap hit its high.

Even if XTR only have 1 million tons of contained copper, at maybe a higher %, then the asset will still be worth a staggering $9.5 Billion and still more than the GGP resource at the time of their JORC.

This is what CB was getting so enthusiastic about and in truth it is only because of the target set by Anglo American, which possibly is more than they thought is actually going to be there, that the project has such a lowish valuation.

Unfortunately, the 2 million tons of contained CU has become a bit of a millstone. 1 million tons is a huge prospect, 1.5 million tons even more so, but the way that AA have left it if the target falls short it will be as if the project is almost worthless.

At times during last week's podcast it sounded as if CB was getting a bit carried away when he kept repeating how big an asset XTR have in the Bushranger prospect. However on thinking about it I see where he is coming from and that it is actually just the market that is underestimating and undervaluing the asset. Also some of the confusion must lie with the way that AA left this prospect under the previous ownership.

At the time of the GGP maiden resource estimate the m/cap rose to well over £1 Billion and the in-ground value of the JORC'ed resource was around $7 Billion. If XTR

Okay here is the link. It's hardly rocket science to post one that works is it.

https://audioboom.com/posts/8096984-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr

"We intend to issue a release shortly that gives an interim summary of the Racecourse and Ascot prospects."

This is what we were told on 27th May. There was then an Ascot specific summary released on 31st May. Are we now still going to get a summary for the Racecourse prospect? or is Mr Bird losing his marbles!!

Any links to this interview that work please.

Also are we still due to get a progress summary of the Racecourse prospect as we have already got for Ascot.

Even though it was not mentioned I am still expecting a summary of drilling so far at the Racecourse prospect.

Spacemonkey82

All good but there is only one "t" in Ascot - like the racecourse!!! get it?

Sorry, I did not intend to post this twice. The first post seemed to get lost and it disappeared and then when it reappeared I hit the Post Message button again.

Following on from my question yesterday at 18.55 - "Does the 2 million tons of contained copper have to be independently calculated/estimated and released in a JORC?"

and I what I considered were sensible replies by several respected posters, which all replied that a JORC was not going to be required, I have just looked into this further.

I was sure that the original 71MT was JORC calculated and I got to thinking that if the original resource was JORC estimated then maybe the final resource estimate would have to be done in the same way. I have checked back on the RNS released on 27th October 2020 titled "Completion of acquisition of Bushranger Project."

Sure enough it says: "...which was estimated in 2018 as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, and has been classified as Inferred in accordance with JORC (2012)"

and then a bit further on it also says: "On drilling completion, Xtract plans to re-estimate the Racecourse mineral resource under JORC (2012)"

Link to this info: https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/completion-of-acquisition-of-bushranger-project/202010271534253817D/

So it looks like this will be JORC'ed at the end of the drilling campaign. Obviously the in house team can do their own calculations to make sure that they are at the 2 MT contained CU before they stop drilling and pay for the JORC estimate.

ATB

Following on from my question yesterday at 18.55 - "Does the 2 million tons of contained copper have to be independently calculated/estimated and released in a JORC?"

and I what I considered were sensible replies by several respected posters, which all replied that a JORC was not going to be required, I have just looked into this further.

I was sure that the original 71MT was JORC calculated and I got to thinking that if the original resource was JORC estimated then maybe the final resource estimate would have to be done in the same way. I have checked back on the RNS released on 27th October 2020 titled "Completion of acquisition of Bushranger Project."

Sure enough it says: "...which was estimated in 2018 as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, and has been classified as Inferred in accordance with JORC (2012)"

and then a bit further on it also says: "On drilling completion, Xtract plans to re-estimate the Racecourse mineral resource under JORC (2012)"

Link to this info: https://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/completion-of-acquisition-of-bushranger-project/202010271534253817D/

So it looks like this will be JORC'ed at the end of the drilling campaign. Obviously the in house team can do their own calculations to make sure that they are at the 2 MT contained CU before they stop drilling and pay for the JORC estimate.

ATB

And that should be imminent as well.

It seems odd to bring out the smaller Ascot summary first. I would now expect much of the same with a full chart of all Racecourse Prospect Drill Results plus hopefully some kind of indication of the current size of the asset.