Member Info for DropD

JH we hear you. I don't know why you feel the need to keep coming back and saying the same thing. You're clearly not invested so gloating? Shorting? Trolling? Whichever, its unnecessary and unpleasant.

It was always going to be like this when avani made the loans. They would take the profit until cleared. That's how it is. Important thing now is to maximise production, sales and shipments. We know cost per ton reduces with increasing volumes, so profit per ton as well as absolute will increase. Strengthening met coal price has potential to quickly boost this. I'm hoping avani involvement + motivated new mgt may be able to find more production efficiencies. No reason to think we won't have sales for 2 months when avani is buying it. Anticipating avani have influence with NS to ensure steady flow of trains. If additional offtake materialises that will further help all of above.

Actually its a big holder increasing his holding

Bomber - thanks for sharing your humble opinion. What have you detected re CW, and what qualifies you to make your judgement?

Stock trolls answer

Wrong. The company is profitable at current met coal price. Avani are not a coal producer and there is no indication they want to be.

Whats your interest here? I note your occasional interventions, always negative.

In the words of one of my contacts closer to the business than I am: 'They will need to buy it first - And for that they need to secure an additional 60% (in addition to the 30% they have - so total 90%) of equity holders to accept their bid for the company. Only then can they take this private.'

Despite current sp I can't see mbu or Adam accepting an ultra-lowball offer. So even if you think this of avani it would likely need to be at higher, perhaps multiples of current sp.

The company will recruit CEO, not avani. the CEO is accountable to the board which in turn is accountable to all shareholders. The good thing is all - avani, board, CEO ... - will be focussed on maximising production, selling and distributing it all in the most efficient (cost effective) manner. With avani having put so much money in it is in their interests for the company to be sustainable - which means profitable - for the long term, both for repayment of their loans and for a return on their investment as a shareholder.

Is that why avani have put $millions in and agreed a 400k tons pa offtake agreement?

They know the business inside out and continue to show confidence and support. As a major shareholder too their interests in that respect align with ours . The 400k pa offtake is brilliant for BEN - more than underpins this years operations. Let's hope for news quickly about new CEO and CFO, improved confidence re trains, and icing on cake would be an additional offtake agreement, maybe with Integrity (to secure the level of supply from BEN theyve had over the last year or so)

JH that's a rather negative view. You could equally say if the met coal price increases from current levels BEN will be very much more profitable than it currently is. I believe futures prices for met coal are above current levels.

BS - as I said 'NS were making repairs and upgrades before Christmas which caused problems for all their users'

BS - the fact that neither BEN nor any other coal producer controls the NS trains doesn't mean they're not coming. It's how NS makes their money so why wouldn't they provide as many as BEN needs all else being equal. NS were making repairs and upgrades before Christmas which caused problems for all their users. AW said they are complete so there should not be a problem now. Just regurgitating what mouthy people say elsewhere isn't helpful.

Why are you suggesting trains aren't running?

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

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!

Bar stewards

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

Macro environment for met coal keeps improving ...

Rise in Chinese steel output drives sharp rally in iron ore

https://www.ft.com/content/b47c78f6-f618-4af6-9a51-ec4869ddc67a

Adam said 2 more trains coming last / this week to add to the 2 already been through the site at the start of Dec. Hopefully at least another 1 later in the month. That'll be 55k tons shipped from the stockpile this month, which should provide around $2m profit.

That'll be closer to $2.5m once we're getting 6 or 7 trains per month in the new year.

As he said in the interview, BEN is now in the best operational position its been in since IPO.