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Rak - maybe not in the very short term that you're looking at, but over longer term looking backwards it has, and it most definitely will in longer term going forward.

at current production (40k tons met coal pm) each $5 improvement in met coal price adds $2.4m to annual profit.

Yup, upward trend in met coal price is very good news. Looks like permit and 2nd hwm gonna come on stream at exactly the right time. GLA BEN investors.

Personally think it's good news. As Joe says below, it'll reduce operating costs and will give more control and flexibility over production. Another step towards being the larger producer AW is aiming for. Placing would ideally have been at a higher sp, but I don't think we'll be worried about that in a few months time. GLA.

Penstock - you really are getting boring whining on about your misinterpretation of timescales in every post. It has never been stated that 2nd hwm and 70-80k tons per month production will be achieved before autumn.

bankzy - I think you missed 'Buy' as an option off of your thread. I am as I think (said before) sp has become detached from business performance and prospects.

Seems to me most PIs understandably tend to look for short term gains (i.e. days, weeks, months at worst), and for them the gains need to be in share price i.e. so they can see and feel the benefit of the capital gain. When sp goes in reverse then they feel the pain and shout about it and put pressure on the company for a quick fix etc etc..

In BEN's case a short term view may not be helpful, though that thinking was undoubtedly prompted by the fabulous rise in sp after IPO, fuelled by the massive rise in met coal price and the early progress the company made.

In my view, although Adam will undoubtedly be getting flack from PIs re sp and what is he going to do about it (by implication, in the short term), I bet his prime focus is to continue to get everything right and in place so that from next calendar year onwards BEN can reliably and consistently produce and deliver around 80k tons of met coal month-in, month-out for years to come. This is what his customers will require.

Depending on met coal price this could generate at least £100m profit pa, and the company will be in a strong position to award substantial quarterly dividends to shareholders. All of this will likely drive a re-rate in the share price (even on p/e of 6 = 1/2 of coal sector ave p/e in jan22, implies sp of about £1.70) and make the company attractive to other big players for investment or buy-out. As production and deliveries increase to the 80k tons pm over coming months and we have autumn analyst reports etc the wider market may start to wake up sooner.

So although current low share price is painful to see for many, me included, it makes no difference to the company's continuing development towards the levels of production and financial performance I anticipate for next year and many years beyond.

That's why I'm buying when I can now (limited because I invested most of my available funds at higher levels than current!) and holding for years to come, and definitely not selling. And all above obviously IMHO. GLA

bear - I'm fully focussed on BEN! don't know of a better investment for my particular circumstances.

Haha, snap!

an example of sp becoming (temporarily imv) detached from the performance and potential of the business. the big selling by storey put millions of shares back into the market and i suspect many of these now with traders who are trying to make just a few percent each week with small sp movement around these levels, aided by MMs.

unless you need your investment out then not a problem. beardozer, there is walk: the business is cranking up - higher production and deliveries every month compared with previous, 3 trains this week in superb response to flooding etc, and step change coming soon with permit and 2nd hwm operational.

Over coming months BEN will get to delivering 70-80k tons pm + likelihood that met coal price will rise at the same time. Huge profits and regular dividends will become a feature (if AW aims are achieved they could be in a position to pay out 20p + / share over next 12 months).

IMHO that journey will drive sp back to previous highs and likely beyond ... OR ... BEN gets bought out, and price will have to take all of the above into consideration...

All IMHO. GLA!

11k tons per train, my est. $120/ton current profit, .75 exchange rate => my estimate £1m profit per train. 3 going this week.

those 3 extra trains in 7 days likely to generate in excess of $3m profit. Good work if you can get it! With current production rate BEN can continue to fill supply gaps if other producers have on-going problems ... or even if they don't! AW and team have more than demonstrated BEN's capabilities, capacity and responsiveness.

That RNS is everything a shareholder and concerned citizen could hope for. Good on AW and his team in West Virginia.

Couldn't disagree more. BEN has stated what it stands for and should not go back on that. Strong ESG credentials will be increasingly important in the future. Met coal in the quality and volumes BEN will be producing will generate substantial profits for many years to come which we should all be content with.

The financials will be historic. Expenditure has been entirely about getting the company into a position to optimise and regularise production at 1m tons pa. If elements along the way cost more than expected, so be it. Those numbers will be tiny compared to the profits which will be made going forward. And AW will have got BEN there with no debt - practically unique to get a start-up to these levels of production in this industry within 1 year I would think.

I'm just looking forward to the times not too far away when BEN will be producing and shipping 80k tons per month, every month, generating huge, regular profits, paving the way for regular, substantial dividends. GLA

could be heading for perfect storm very soon - receipt of new permit (imminent) + 2nd HWM up and running + russia coal ban pushes met coal prices back up + steel demand rising from national infrastructure, defence and green programmes ... GLA

so from aug/sep (as AW has consistently indicated) 70-80k per month production. If that coincides with $375/ton (luqs post), I reckon that will deliver min $150/ton profit (personally expect more). Using 70k tpm that's $10.5m PROFIT per month (nearly £8m), month-in, month-out. Worth investing and holding for? Will enable ongoing payment of dividends. As others have suggested also highly likely to attract buy-out interest, esp with expanded, JORC resource declared. I agree with lmlom - autumn is going to be very interesting, and great for investors. all IMHO, GLA

Rubbish, there's still an indiscrimate seller undermining sp. That's all. The business hasn't changed over last few weeks despite sp action. I would expect continuing progress being made as regularly outlined by AW towards around 80k tons monthly production from early autumn. There is no point putting out positive info while seller keeps going no matter what. Hopefully sp recovers rapidly once seller has finished whatever s/he is doing.

iceman - good spot, and this is in addition to '... 1.1 trillion yuan [about $200bn] in new support for infrastructure announced over the past few weeks, as President Xi Jinping’s government tries to get the economy back on track toward achieving its annual growth target of around 5.5% ...' (from bloomberg)

from memory MHW contract for 1st hwm is less than $100/ton clean met coal produced. Add other costs of production, delivery, overheads, I think at current prices still making more than $100/ton profit (higher using 20 day ave as luqs mentions ..).

rob1967 - why would they start selling? (a) they're locked in - hard lock til this Oct, soft lock for at least another year; (b) showing confidence and support for the Co. by buying more; (c) they are probably looking for substantial capital growth, esp from current sp; (d) over coming years they will be receiving huge, regular dividend payments; (e) I would expect they'll hold until BEN is sold. But their holding is not new info, so if you don't like it why are you here?