RE: All going to plan17 Jul 2022 16:26
BENS interview 17 July
Only 70 million shares to be traded. 40% of free float had to be sold in 3 to 4 days. It shows the strength of the stock that it managed to get through that so well.
SP on current production should be roughly 70p now, 1.20 on full production within 2 months. K H
Took a bankrupt company and turned it into what it is today. We had all the assets.
Absolutely on track, everything is as we had planned.
Repetitive but listed in October last year. Not producing at the time. Transferred the 60 m of debt into a royalty stream. We now produce 40k M Tonnes per month.
Started remediating the wash plant, the railway, the underground mine, hwm, benches and application for second HWM.
We produced Raw coal in January February, we produced Clean Coal in March and April and started shipping in June.
Producing 40 k tonnes of clean coal per month now.
Still waiting on a permit any day, guidance on its receipt for the end of July could move slightly.
All indications are good,
Last few signatures for permit
Has 3rd contract hire hwm
The 2nd one needs a bit of work, not much. Use or lose, so elected to take it. Can switch out to own hwm, 3rd is a spare.
Better to have the machine there as backup . 6 weeks to repair max, 2nd permit mining in august.
Distressed seller, sp is correlated to met coal price, highest was 450 dollars a tonne 1.08p , now is
Close to full production
Delighted that we have been able to replace the seller, the seller has been sold down, and bought.
Margins cfds, perfect storm for a drop but nothing has changed in BENS creek
Trains booked into come in end july, and 3 end of next month, all deliveries on track.
We would still be in the 70p range if J S hadnt had to sell, it was the only asset he had to sell. KH
We were not a producing company when we started, 2nd permit should go from 40 to 70 / 80 tonnes sometime in august.
Once we get to full production we will invite analysts to write figures on the company.
Desire to move to greener economy using steel in wind farms, batteries and solar will be a need for met coal going forward for quite some time.
So we will be doubling production or thereabouts within a couple months.
Dividends on the cards, even with the drop off. Very healthy margins for BEN.
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