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yes

12th July RNS: "... expect to be able to deliver first sales of washed coking coal under our offtake agreement with AtoZ next quarter. I look forward to providing further updates as appropriate."
12th November RNS first sales perhaps? sp >6p this time last year with just a dirt track, wheelbarrow, some shovels and a bucket of water to wash the coal off, but no customers. Now got decent infastructure, trucks, diggers and a washplant to wash 100Tphr and an offtake partner but sp <6p. Go figure!
Like other metcoal companies, the drop in demand and thus market prices per tonne has dropped the stock values. Decent time to buy for another 12 months. Has Carl done a JVA in Mali yet? Advanced funding for coking ovens coming from that gold venture or a hedged upfront deal on sales of coal?

The September 31st interims are published next month as has been stated here and in podcasts already. Ben is in profit but not as much as perhaps we thought we would be 6 months ago. Give it another 6 months and we will be rewarded. Happy IPO anniversary to fellow longterm holders and fingers up to those whom tried to scare about lock ins just so they could short and buy back at 25p. Time to go long as in 6months now and leave the day traders to fek off elsewhere. The other metcoal stocks I follow are down today too (MCM & CGO) due to metcoal prices. At least we have a fully working mine with our own rail infrastructure, 500Tphr washplant, plant and about to up production in a stable US economy compared to the other metcoal mines with sanctions, port strikes etc.

no sorry. Until that latest video from Luther I had assumed we were at 3-4 trains each month already and from podcasts that we are outputting 40KT washed HiVolB+ each month from the double shift HWM and the underground rig. A contractor told me that trains get booked but don't always arrive on the expected date, sometimes a week or more late. Not sure how this will resolve to regular, reliable shipments, but it does seem to be up to Integrity or Norfolk Southern when the trains get sent. The stockyard must be getting to full capacity now. Probably why there is no rush for the 2nd HWM to get here yet. Demand for steel had slumped over recent months but is now on the rise again so hopefully when the train frequency increases the metcoal market price will be higher. The plan is still to get 2x HWM operating by the end of the year which will satisfy NS that enough coal can be produced each month to fulfil regular shipments, starting with 4 trains per month ramping up in Q1 to 7-8 trains. Things may seem to be slow right now, including news, but a lot of things are happening.
New fleet of yellow iron is arriving onsite (see photos as they get drip fed on facebook);
new crew of operators/mechanics etc to operate all the surface plant;
a new belt scale added apparently (pending photos..) to determine rate at which coal travels along the conveyor (weightxspeed=rate) so it also determines exactly how much coal is being output;
drilling commenced for blasting to create new wall benches to mine the new permit area;
and PATT about to close or mess his shorts, lol.
I hear you though picax, we should now be doing more than 2 trains each month. I have no insight as to when this will happen. Hoping Luther will be doing a weekly selfie video by December ;) Double output = double revenue = double sp? So 50p by Christmas which is admittedly £1 short of my earlier forecast. That said, by Christmas BEN will own all the capital assets (except the Mega HWM), be controlling staff as an independent operator free from lease constraints, have had an independent business valuation, published the September interims and maybe market prices will be back to $300+ so who knows what the sp could be. We were 10p exactly a year ago today. We were £1 just 6 months later despite just selling run of mine coal by truck but coal was $450pT. Six months on from then we are shipping washed coal by train with a more efficient washplant and have double output but coal is £275pT.
I am no oracle, I just research and post a lot for egotistical likes and banter, and to understand the metcoal mining business a bit better. As a Yorkshireman my home is built on coal, quite literally as there is even a disused airshaft, now a well, in my drive. A photo is worth a 1000 words so feel free to check out the Bens Creek facebook page to see photos and videos from the site and talk to contractors and other members about non sensitive matters.

Usually just pay the price (in this case A$0.20) with zero brokerage fee. From the RNS: a fully underwritten 1.012 for 1 renounceable rights issue offer of new shares in MC Mining (each, a New Share) at an issue price of A$0.20 per New Share for Eligible Shareholders in Australia and New Zealand and ZAR 2.36 per New Share for Eligible Shareholders in South Africa.

Jltrades check out page 222 of the Admissions Document found on
benscreek dotcom/assets/RNS/Bens%20Creek%20Group%20Plc%20-%20IPO%20Admission%20Document.pdf

The First Locked-in Persons have also agreed to abide by additional orderly market restrictions for a
period of 12 months after the expiry of the First Lock-In Period pursuant to which the Locked-In
Persons agree to ensure that any dealing in their Ordinary Shares during the period between the first
anniversary and second anniversary of Admission is effected, where possible to do so, via Optiva in
order to maintain an orderly market.

Thanks Rak, I trawl the web for relevant info, permit details, site photos, equipment specs, etc with no inside info or help from the BoDs. Fortunately, a search through coal mining facebook groups has found locals willing to post info & photos. We are hoping to get a video of the blasting once the DM45 drill rig has done the shotblast holes to create the benches. Even if not interested in investing that should make an awesome sight especially set against the colours of the Fall scenery there.
When will we be a £1? Asking the wrong guy. I said £1.50 by Christmas remember? lol. Maybe 50p by Christmas and £1 by Easter if I am realistic with just 2 trains each month till 2023.

Let's see how we fare in the next week or few and if there is a TR1 RNS along with info on that elusive HWM, offtake deal(s), interim report from last month, amount stockpiled, if amount of booked trains is >2 each month, if the HWM20 has been repaired, if we are buying another HWM...etc.

26.25p is below my average but it is not a loss unless I sell and I don't plan on selling for a few years assuming those dividends get paid when the Easter bunny comes next year with a £1+ sp.

Or traders shorting on an expected fall from those weak hands? All for the sake of a possible few % drop. Ah well, fair play to them.

Kenny, as Rob has said, the most logical thing would be to agree a direct trade from the major holder(s) to Mittal/Integrity or other(s) off market. That would comply with the soft lock-in rules about to come in to avoid any adverse effect on the market price.
As you correctly point out, those major shareholders control majority voting rights which puts off any pension fund type investors from investing. If they do that transfer above to lower their voting rights then ii will look at investing once the interims are published next month.
Would MBU et leur amis want to sell at 26.75p instead of holding for £1 and dividends? I don't know. It is still more than the pre-IPO price they paid and would pay off any of their debts being talked about so often on that other board.
I am biased as a longterm holder, but I ask myself, if I had not invested in BEN yet would I do so now? Based on how the business is buying all the yellow iron to go independent and what contractors have told me, then I just regret not selling at £1 when the PR was incorrect as I could have been buying in today based on credible facts to get 3x as many shares.
As always DYOR...& check out facebook ;)

Thanks Beardozer. Only commented recently on the other 2 metcoal stocks as they could do well next year.
Pleased to see we have started getting media posts on the BEN facebook from contractors and locals in that area. 1 photo of some of the recent new Komatsu fleet arrivals (dump trucks and loaders) got posted by the Roast PR guys but I have added more photos and now the good folk in West Virginia are posting photos too. Even if you are not interested in investing in BEN, the facebook group is worth a look for general interest in the amount of plant and the different types of yellow iron that are required to operate a mine or just to see the changing colours of the West Virginia scenery. Fall colours are stunning this time of year.
Slow and steady now with a news rich month coming up. Am really optimistic for Ben's future based on what is actually going on rather than what we get told in PR. Just follow the story on facebook and see where we are at when the trees have gone bare.

good not goo, lol

Rak038 and others, thanks for the bigup but I should clarify that I am not an insider and only done this shares malarky for exactly a year now, so am still making mistakes but hopefully learning from them. I run the BEN facebook page. That is my news outlet now. I spend a lot of time on the web researching this stock and associated mining companies/suppliers and chat with various people in the know (not the BoDs, unless you count simple 1 line replies of "don't panic, news on the way"). Please always DYOR. I have called it wrong many a time when I just based research on podcasts and RNSes expecting £1.50 by Christmas. We won't be £1.50 by Christmas, IMO, but I do see it being £1+ next year once in full production (80KT washed per month) and if coking coal prices rise again.
Right now there is 1 HWM and the underground miner and just 2 trains a month. Train dates are not set by the BEN Company.

A contractor whom had worked at the site told me "They (NS train company) will tell you trains on certain dates or so many a month but you're at their mercy honestly. You just never know the dates and things. Same with for instance highwall miner. A map and engineers may project a hole to produce 2000 tons. They can't predict the hole only going 400 foot because of bad top or too much water from an old mining work and things. They are set up for success. The 2 miners, deep mine, ability to ship their own coal, and perform mining operations as 100% independent will be great for Ben's. I'm just guessing he's (Adam) giving time frames based on projections from information he's getting. You know how that goes when you're at the mercy of other companies and things. They pretty much can be on time with what they promise or may take longer."
So despite some disparity at delays, BEN are busy pushing to grow the Company within constraints of Covid/ the ability to mine deep seams without obstructions/ the rail company to send trains on time/ weather problems (BEN made a speedy recovery from the recent floods)/ Government agencies such as DEP to issue permits/ Interstate Highways agencies to issue permits and road closures & dismantling of traffic lights etc where required to enable the HWM sections to be delivered by road from Kentucky/ ability to remove site overburden and load coal in a timely manner. The latter will improve as BEN become an owner-operator of all the onsite 'yellow iron' rather than leasing plant and contractors from JMAC. That leasing contract ends next month. Photos of some of the brand new Komatsu equipment including 63Tonne capacity HD605-8 dump trucks and the 40T WA600-8 loaders awaiting assembly are on facebook now.

Realistically, the next HWM won't be here until next month IMO. We can assemble new equipment, bring new operators & mechanics in, work on the SHM20, ramp up output of the 71SHM & underground miners, and hope we get sent more trains each month to clear the growing stockpile.
"Keep the faith, it will all come goo

Thanks Sandman99
so 250m @21p (52.5m) plus 150m @11p (16.5m) gives an average of 400m @ 17.25p with mcap £69m
So 15p seems a good deal now that some of the loan is paid off and the Makhado project funded for next year?

Hi Rak0328, I tend to just post news on the facebook group nowadays. On the 9th October I emailed Adam about lack of PR. Got a short and simple reply "Don't panic news on the way !!!"
Not sure if that news is about the new Komatsu equipment that has started arriving (drill rig, dump trucks and loaders) or about the HWM everyone is craving to hear about. Would be nice to get news of the latter by RNS as I am not aware of the sections having even left Kentucky yet. Adam told investors at the AGM that it would be there in 4 weeks. So this time next week would be great.
The LSE market today could be a mess as the banks stop buying bonds and pension funds scramble for cash. Fortunately BEN has no fund investors yet. There have been quite a few UTs recently. Not sure if that is a large fill order being worked by a big player/company (not JS, please not him again, lol). Would like to think Integrity or Mittal may look to invest but demand for construction in North America needs to bounce back and car manufacturers need to get those semiconductors they need, to reverse their drop in production, for steel/metcoal demand to increase and push coking coal prices back up.
At 27.25p this has to be attractive to a large investor with foresight as BEN becomes an independent company and the JMAC leasing contract ends next month. A whole brand new fleet of Komatsu plant arriving. A few experienced JMAC contractors even choosing to leave JMAC to work exclusively for BEN as they have that much confidence in the fundamentals here.
Just need to get the 2nd HWM onto the 299acre permit site, clear the benches, push the 1st HWM to 80KT ROM, fill the stockpile yeard, book more trains, and hope price of coal goes up. OK going ghost again as I know the usual suspects will arrive to diss everything I say.
Don't panic, news on the way!!!

Is the Transnet strike going to have any impact on coal exports from Richards bay or is it only affecting CapeTown?

Is 259m shares the total including the rights issued ones?

£37.4m as there are 374m shares, so paying 10p divs will be like giving all initial investors their money back having paid 10p at IPO. Check out BEN's facebook for video of a big red HWM moving around, whilst the big white 71SHM is also on that page spitting out 80KT ROM each month. All the visual evidence gets posted on facebook.
OK am going ghost again now until official news of that 2nd HWM has been released by RNS.

will all depend on finding the right offtake partners. Still unclear if local Chinese owned steel mills & power plants have changed their mind about refusing to buy from CGO as they have Chinese owned coal mines in Zim too. Dinson (Disco) said they would work within a circular economy..
One would think that the huge demand for both coking coal and thermal within Zim alone would see them negotiating hard to buy it but iirc they were only willing to offer a really lowball price last year which Carl didn't accept. With so many power outages in Zim you'd think the govt would be pushing the Chinese companies there to buy thermal from wherever they can get it. And with the new steel plant being built at super speed that gov't will push them to buy the coking coal local too.
Coking ovens will be needed to get the best price so if offtake is currently only via export to SA's A2Z then A2Z will need to front up enough to cover the cost of building the honeycomb coke oven batteries in return for a discounted hedged amount of the resulting coke.
The Mozambique Nacala corridor rail and port project is under construction so longterm, say 2 years, export to Asia is a possibility. Export to Europe is possible via Richards Bay, SA although it often has issues with rail freight workers there.
Obviously export via middle countries to final destinations incurs taxes and costs, but while demand is there it is worth persuing. Got to be better than selling direct to SA where coal prices are fixed lower than world market prices, but maybe that will change. SA needs thermal just as much as Zim as they too have power outages. There is definitely a market for both thermal and coking coal from Muchesu Coal. Payments from foreign offtake must be paid 60:40 US$:Zim$ so there will be some loss in forex there but that 40% can pay the OPEX in local currency so not a big concern.
The washplant max capacity at 50% efficiency is 22.5KT per month. They posted a photo of the bore drill a few months ago. I assume that was to supply water to the Muchesu people but has no doubt been used to provide a water supply for the site and washplant too. The washplant needing a top up of 3-5m³ fresh water per hour and running typically 450 hours per month according to OneVision. Shipping by truck not train, but at least A-Z are collecting it from the yard to take across the border themselves.
The local community displaced by the site seem happy enough in their new homes with better infrastructure, water supply, employment and financial payments. Those bunkhouses look great in the photos. Wonder if they have a guesthouse. I quite fancy taking the family over to visit Vic Falls and the mine site once they are fully operational in next couple of years (might go West Virginia 2023 and do Hwange the year after).
I looked up the definition of Contango a while ago. It is the phenomenon that occurs when the price of futures contracts is higher than that of the underlying asset. whatever that mea

Danke Dir, Hindhead. Vielleicht werde ich die Ben bb wieder besuchen, wenn Sie das zweite HWM rig haben, das ungefähr zur gleichen Zeit mit der Verdoppelung der Produktion beginnt, in der CGO seinen ersten Umsatz erhält. CGO waits on completion of washplant installation, BEN waits for arrival of 2nd HWM. Both stocks should do well by end of the year. Viel Glück.

Might be good time to invest/top up now. First revenue at end of the year for collection of washed coal from the gates to the Lubu site. That revenue can be used to pay for wages, diesel fuel, water, electricity, continuation of resettlement buildings, and to start construction of coking ovens. Hopefully A-Z will front the cash to pay for those ovens in return for a hedged amount of coking coal that will come out of those ovens next year or a CLN so a placing is not required. Can see this going to 15p by eoy and dropping back to 12p on conversion of warrants. With 100T per hour capacity of the washplant being built onsite and average 450 hours per month with typical 50% efficiency that gives a potential 22.5KT per month washed coal output. Just need the fixed coal prices in SA to rise up to near world market values, the rail access to Richards Bay to improve, the new rail link to Mozambique port to be completed, the local Chinese power & steel mills to change their minds about not buying from CGO, get a generator onsite to cope with energy blackouts, bore hole drilled to supply the water required by the washplant. Power requirement for the washplant is considerably lower than for instance a DMS, so easy to run off a generator. Forex problems and thus fuel shortages/high prices may have some impact on operating costs. Water recycles through a settling pond and gets degrited with a cyclone, but this is not strictly required. Top-up is usually about 5% of solid feed due to adherence, depending on feed size. Looking at about 3-5m³ fresh water per hour. That onsite bore hole will help otherwise off to Vic Falls to fill those 1000L water tanks we saw on the back of the Muchesu trucks. Anyway, good time to top up last week and still is for a 50% rise by eoy and for long term investment. No big, extended loans like MCM, not as safe as USA but lot cheaper than BEN. For clarity am in BEN and only toe in water with CGO since 5.4p. Will wait till eoy to see where Muchesu is at and it's Mali Au having been caught out by the BEN rise and fall earlier this year.