Member Info for Mick007

Platts HVB up at $240

The AGM is on the 27th (details are on the RNS). I hope many of us will turn up. There is positive talk and negative talk on this and other forums. I do hope that investors who have concerns and issues, turn up and voice those concerns - and get them addressed. No point bashing a stock and then not take advantage of getting answers and debating. THIS IS YOUR CHANCE ! MAKE THE MOST OF IT.

Wilson said we will quarterly updates. They should be coming soon.

Cash position was March - not now. BEN is 6 months into a new year - so the going concern issue is 6 months old already. AND they have raised more cash, bought more equipment and ramped up production 2-3x! £25m loss was with minimal production and full overheads - so a little meaningless. Bonuses were based on turning a shut down operation - into a company that suddenly had a mkt cap of £400m+.

If investor focus is purely on looking backwards (with this being a start-up company) - this is NOT the stock for you.

There are MANY start up companies that are valued higher - and still have no revenues. $40m revenue to March - with revenues in the 100’s of millions next year is why this is an interesting stock.

MOST mining startups / turnarounds FAIL in their first few months / year. BEN keeps on getting better.

Like I said - if you are backward looking - this is not for you.

A start up with sales exceeding $40m. Given current production and pricing this only gets better

Before market close hopefully - And then a weekend of reading.

See https://www.barchart.com/futures/quotes/U7*0/futures-prices

AUS Coking Coal Futures market - NOT the same as platts, but October and November futures trading at ~9% premium. Platts and AUD coking coal will have SOME correlation.

Futures market remains higher than spot out till March next year.

October AUS Coking coal futures are trading circa 10% higher than Sep spot. Assuming Platts Coking coal is correlated, either spot prices will rise another 10% ($20-25 / tonne) or October futures will come off (Spot and Oct prices will converge soon). Given the current trend - seems like we can expect further price increases.

All about results this week though. Am more interested in the outlook than the year-end results (which we all know will not be great given the expected production levels).

Am surprise too. With almost a $40 move up in pricing (almost $30-40m extra to the bottom line - would have expected more of a sp move. I guess we are waiting to see if this move lasts.

Up another $10 …. Platts now at $230.

Up another $10 on Platts last night. Great time to be at full production.

Platts up again - Now at $203 - Slowly crawling back

Platts up on Friday again - HIVOLB now $201

Up again - now at $198

Platts HivolB is up $5 to $196

Platts still at $206 for Hivol B

After investing £2m?! Weaker hands selling / cashing out / throwing in the towel. At least 70-80% is in the hands of people who know whats going on.

New investor buys 12.6m shares - 3.2% of the company (RNS). And no reaction.

How many trains / trucks has BC sold / delivered since end of Sep ? Any guesses ?

Need a more thorough update! Is this all they have sold / shipped over the last many months ?

WHI View: Important news today that Bens Creek has firstly the confidence to take the lead in filling a ship in its own right – it has the ability to produce coal to time for customers and the necessary transport links; secondly Bens Creek coal is beginning to get a name and be specially requested, which will only be good for sales going forward. The company is “close to having a second operational highwall miner”, according to the RNS, which will facilitate the production of over 70kt/month of clean coal and, at this point, and in this price environment (coal price is ~$250/t), we expect to see good cash flow for Bens Creek. We still see fair value at 86p/sh based on a risked DCF using a long-term coal price below current spot pricing.