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Georgia? You looking at the wrong mine, Bens creek is in West Virginia by the border with Kentucky. I do agree it is a great entry point, not as good as my 19p last year, but still great for new investors. I also agree that at this low price it is a day trader's market. Just need the big sells to end tomorrow for LTHs to feel it is safe to come back out on Monday, top up and hold for it to rise again like it did February to April when we only had the 1xHWM selling ROM. We will have 3x HWM rigs this month plus an underground rig, a washplant processing the coal from them, trains taking it to the offtake partner's collier ship, and drilling for more reserves. I thought the CLN was convertible at a revised 60p price but I'll have to check last couple of RNS for confirmation. No point releasing positive news this week while JS was having a fire sale for his margin call. Happy for a quiet week next week and news to come 3rd week July of permits and HWMs and maybe some financials confirming profits started with the first train shipment last month. I dare say the MMs are holding a chunk of those JS shares to sell on at a big mark-up in a couple of weeks. For now, enjoy the opportunity as I reckon there is still a slight gap to fill below 35p this week. It is a cliche but IWWTBOOTOTW. Forecast looks good, sun is shining, getting a new PM and cabinet, the $ is strong (BEN get paid in US$ not Zim$!!), great time for chucking some sausages on the BBQ (oops wrong ticker, lol)

Just done my first bed & ISA over the phone. Good idea for any LTH currently below their average but with space in their ISA account. Sell shares from cash account at a loss, buy back at near same price and stick them in your ISA account. The loss can be offset against any taxable profits you make later in the year whilst profits on the ISA shares will be tax free! Glad something good came out of this JS experience.

Well the BoDs clearly don't give a toss about the investors. 11p at news of US distribution and has since slid all the way down to tuppence. Is the stockpile of ingredients being sold and making revenue yet or is there still no cashflow? Would be good for the sp if the BoDs could give an update on how sales are doing Stateside or is it not doing well there?

https://www.**********.co.uk/rns/announcement/da7e59ce-5243-4755-8443-9ce9343391fd

Whilst it may be obvious that 2pr02p's margin figures were wrongly written as 155,000 instead of just 155, those figures he/she quoted were in £GB but should have been in $US.
That sp estimate of £2.10 should therefore be $2.10 which is just £1.74 unless the financial report shows we have a higher margin and perhaps we should be using a higher P/E.
That sp forecast based on 80KT sales each month would equate to 4x Friday's closing price of 42p, but we need 7 or 8 loaded trains leaving each month for that to be realised and metcoal prices staying above $300pT, with dividends making this a pension pot consideration. If we are stuck with just 3 trains per month then perhaps consider just 87p as fair value? We were £1 at one point with no trains! But that was when Adam was buying up more mine sites and seemed to be racing ahead as a new company. We are currently extracting circa 80KT ROM from the HWM on double shift and the deep mine rig rendered down to some 40KT washed HiVolB+ metcoal each month and shipped 33KT of it last month by the first 3 trains sent by the offtake partner to collect it.
News due this month is that we have a permit for the 2nd HWM to extract 80KT ROM per month, that the 2nd leased rig is onsite and being assembled and possibly starting work straight away, that the washplant has increased it's 50% efficiency, the half year financial report is printed and the awaited TR1 to say JS has closed his margin call sell order. Other news could be that the purchased Superior HWM has been fully repaired as a 3rd HWM rig to be used as a back-up until the next permit lands to mine a contiguous site, that more trains are scheduled, that we are doing more underground HiVolA mining, that we are washing coal on a royalty basis for other mining companies using our washplant and rail loadout facilities, and hopefully metcoal prices go back up as steel demand increases.
Guys in the back of the cab, if you have invested or topped up then sit back and see where we arrive at in September ;)

Its $155 margin not £155K!
So come September should be doing maybe 70KT per month washed x $155 margin = near $11m profit per month. If the Rail Company provide the extra trains by October to take away that increased amount then we could get those dividends by Christmas but I'll aim for Easter as bound to be delays with getting those extra trains and staff for the double shift on 2nd HWM.
Keep it real, no point giving the derampers ammunition by putting rampy incorrect figures on here.

beardozer, my dear old mum has now averaged down and as a family we are all still happy to be holding with conviction whilst many seem to be scurrying around in a senseless panic. A large volume sell order by JS (holding 22m shares) to fill a margin call has brought the price down. It was not bought up by PIs in a matching volume as they were waiting for the sell order to be filled and a TR1 issued to that effect. If you are frightened of the action and gonna throw up in the back of my cab then get out now, investing ain't for you. We've been on this £1 journey before with just 1 rig and a few trucks but we had to drop someone off and he ran off with a chunk of the fare. So now with 3x HWM rigs plus a deep mine rig plus more land, permits and increased reserves, a working washplant and several trains taking away washed coal each month, that £1 journey should be in the express lane. Never heard word of 5p dividends, but the CEO has mentioned 10p dividends once we reach £35.4m profits. As always, DYOR and befriend the driver as he/she has probably mapped out the route and looked at all the risk factors. Hurry up, the meter is running ;) Uber and out

no need to feel sorry, she averaged down with a 44p buy yesterday bringing her average to 78p. Will be in profit by October and I'll still have a seat at the dinner table :) Lot of rats scurrying around this morning. Pull your big boy pants on guys and walk away from the screen until next week's TR1 lands unless you have some spare cash to re-invest or have a margin call of your own to fill in which case my advise would be a whisper in your ear "sell something else"

It appears that JS has not yet closed the sell order from his 22m shares, hence the drop again today. Still seeing those 10K chunks and another 1.5m sell this morning. May as well wait till next week if you are thinking of selling already as the sp is not likely to rise until a TR1 is issued to say JS has closed his sell order. Have a nice weekend.

Business as usual at the Creek. We get another HWM rig from Mega this month and the permit is imminent for it to start adding more coal to the 70-80KT being extracted from the first HWM that will be run through the washplant and shipped out by train making yet more profits.

John Story selling his shares and people seeing their stop loss trade plans executed and fearsome just selling in the panic. At the end of the day, nothing has changed at the Creek since we heard about leasing a second HWM. Pop back in September and check the sp of your investment then. Inbetween that time frame let the traders bounce it up (check charts to when we were 40p months ago with no train or washplant working and only 1xHWM and you should be able to predict how this will rise).
Agreement with Integrity January-December 2022 was to supply 22KT per month. So a total of 264K washed short tons.
10th feb we supplied Integrity with the equivalent 9KT washed. In March 12KT. April and May the same I guess. June will be 33KT if the 3rd train has left already. So 88KT sold so far. We need to sell a further 176KT by December. That is about 30KT per month or 3 train loads. We are going to meet the contracted amount for sure.
The 1st HWM rig is now on double shift and the deep mine rig is also mining. The 2nd leased HWM should be onsite July and operational by August and running a double shift by September/October with 7 or 8 trains taking it offsite to the Offtake partner, Integrity Coal. That is 80KT per month with conservative margin of $150pT.
The independent Marshall Miller report has extended LOM by identifying an estimated in-place reserve base of 92.7 million tons, with an estimated recoverable tonnage of 33.6 million. This should ensure that our mining targets are able to extend the life of our mining operations to meet the global demand for metallurgical coal.
Of the total in-place reserve base, 33.6 million tons are estimated to be recoverable, of which 5.2 million recoverable tons are classified as Contingent Reserve and 28.2 million recoverable tons are classified as Contingent Resource. We shall be drilling to prove up the additional reserves. Marshall Miller will continue to update their reports once we have drilled the sites.
It is still the intention of the CEO, Adam Wilson, to Announce 10p dividends once Bens Creek have made £35.4m profits. That is now looking to be end Q1 2023 but no date has been set yet as we have only just started making profits this month of June 2022, just 8 months since the Company listed October 2021.
It is all in the RNSes. If you don't have a margin call like John then I suggest to hold even if just for a few months but that is just what I am doing along with selling off deadweight stocks and topping up more here. DYOR and GL with whatever you do.

Agreement with Integrity January-December 2022 is to supply 22KT per month. So a total of 264K washed short tons. 10th feb we supplied Integrity with the equivalent 9KT washed. In March 12KT. April and May the same I guess. June will be 33KT if the 3rd train has left by Thursday. So 88KT sold so far. We need to sell a further 176KT by December. That is about 30KT per month or 3 train loads. So we are going to meet the contracted amount for sure with just 1 rig. We now have the 1st HWM on double shift and the deep mine output. 2nd leased HWM should be onsite and operational by August and running a double shift by September/October. Sure would make sense to get the Superior HWM extracting too even if just side by side one of the leased Mega rigs.

Amin0406 you called it right. A good opportunity for new investors to take a position or current investors to top up. The only difference of this week to last is that we are set back by 1 or 2 months waiting for the 3rd HWM to arrive, get assembled and extract the extra 80KT ROM=40KT washed metcoal. Not sure why we didn't just lease the 2nd HWM instead of buying a cheap one a few months ago (well I say cheap, but $2.4m instead of $8m new). Permit is due in next week or 2 so once that leased rig arrives it can be put to work. The purchased rig will still be repaired. Both leased rigs will be operated on the same terms agreed with Mega back in October 2021 so margins should hopefully stay around $150 or more, depending on metcoal prices. Steel demand and thus metcoal is due to increase so whilst these 60p+ prices look worrying on the surface, as an invested holder I just see it as a month to skip over and look forward to the new rig coming onsite and 7/8 trains and any other new acquisition plans along with the profit forecast once all rigs are confirmed operational and coal being shipped out in larger quantities. Great if you have spare cash today. At least we have a washplant onsite and are selling our coal from the US.

BEN have exercised their right to first refusal on leasing a second HighWallMiner from Mega. Hence why the one that Mega had for sale on their website is no longer there. Permit is due in next couple of weeks to mine with a 2nd HWM but as this leased 2nd HWM is not due on site until next month we should probably presume that it will be late August by the time it is fully assembled and put to work on single shift with double shift ramping up the following month. The purchased 2nd HWM is still waiting on parts and renovation work but will be used as a back-up during any downtime of either leased HWM. The lease contract with Mega leaves Mega responsible for staffing and repairs of their 2 leased rigs so no union issues for BEN, unlike what was seen at Warrior Met. So another pushback of timelines which is why I have always used August/September as a realistic timeframe for the 2nd HWM to come online and to use the next trading year starting October 2022 as the month we have 2x HWM on double shifts plus a deep mine rig and 7/8 trains taking away 77KT+ washed coal to sell to Integrity. Invest for the future as 2022-23 will be epic! As always, only IMO and DYOR. GLA

Thanks Nursesteve. I get despondent when I see the sp drop but that is on me for staring at the screen every day. I've only done shares since October and am fortunate to have invested in BEN early and topped up along the way (perhaps paying too much at times as my missus and I even added at 91p, whilst mum held off till 99p, but that is OK as she invested it for her grandson's future so plenty of time left now the LOM has increased). Learnt that AIM is a trader's casino which is fine and GL to those whom have known when to sell and when to buy back in. Like you I am in for the longterm and hoping that the dividends will make it worth while. First dividends should be 10p and that should increase each year as profits increase. So taking my own advise I am off outside for some Vitamin D and just see where we are at once that financial report lands (am expecting a dip that day tbh but investors like you and I already expect it will just show costs have been covered and that it won't be until the end of year report that we see profits, so this June report is no big deal).

Gazal69, iirc we still have $5m cashflow so hopefully that would take care of any CAPEX risks, but hopefully after the recent repair and overhaul of the washplant/rail/rigs the risks are minimal. That funding could be used to lease/buy another rig(s) and finance the drilling program to prove the reserves.
Original LOM was about 7years but is now at least double that with the Marshall Miller report. Once BEN starts paying dividends (first one is intended to be 10p once we make £35.44m profits) then this becomes a pension plan investment paying dividends for >15 years . Clearly buying at 70p means we'd get 14% dividends in first year plus growth value of the stock price.
Lot of noise from the usual suspects on the other stockwatch site shaking shares from loose hands. The sp might stay below 90p until July/August waiting for news of the 2nd HWM starting to extract coal and then doubling current output and of the 7 trains carrying away 77KT per month of washed coal.

As always I try to keep a balanced view despite being all in and wanting BEN to do well so here are the possible risk factors: delay on permit for 2nd HWM; delay on 2nd HWM finding staff to run double shifts; delay on getting the extra trains; drop in metcoal price; plant problems; rising OPEX costs.

Pros: confident CEO with great negotiating skills that saw us selling ROM just 3 months from Admission; Bens Creek is in a stable country (not Ukraine's Pivdennodonbaska mine site now in Russian hands, or a hole in the ground in a corrupt African country); BEN is hedged to provide Integrity with 22KT per month washed coal, we have been selling the ROM with sales covering OPEX costs and are now selling 33KT profitable washed coal each month; will be more than doubling output from 33KT to around 77KT per month by BEN's 1st birthday in October; steel demand is expected to increase and consequently metcoal too helped by Russia ceasing supply to Europe; China has ended lockdown of it's steel plants and international shipping ports so metcoal can be shipped there again; increased resources to extend Life-Of-Mine; undergound mining of HiVolA has commenced and further deep mining will be started on contingent sites; as of October if all the risks factors don't come in to play then BEN should be selling >1million ton HiVolB+ metcoal; dividends to come; Adam to acquire further sites and infrastructure, but let's wait and see on that as one $6m CLN was used to extend acreage and buy outright a HighWallMiner rig and he has apparently spent some of the other $6m on OPEX so we will either need to take out a 3rd CLN or wait several months to accrue more profits before we can make further new acquisitions (all such funding adds value to the business); dividends to be paid.
BEN is not even a year old yet but is now in profit although next week's financial report will just probably just show costs covered till June.

and to be more realistic I think the $261 margin seems very high, so to err on side of caution again, use $200 as net margin and hope additional trains to take 88KT per month instead of 77KT will even it out.

did Eric-Eric and captain haggis spawn a love child? lol
At least he has the latter's positive traits.
2 trains done, 3rd coming later this month.
Results due this month for first half of the year which won't include this first profitable month where the trains commenced. They will, however show that this new Company has covered all costs and unlike other new start-ups is not in debt in the first year trading. It will no doubt have a snippit from Adam to say how production is/will ramp up from the first 6 months to include 2 HWM on double shift plus undergound deep mining and the expected amount of trains each month to transport 11KT washed coal rail shipments by start of the next financial year (October 22). In interview he has said to expect 7 trains by Q4.

Looking at the 6th June RNS Adam stated BEN has 30KT washed and 5KT ROM worth $12m revenue = $369 per Ton.
We were told BEN has been paid $1m every payday Friday for the trucked ROM. We were also told that sales of ROM have covered OPEX costs. Assuming the single shift HWM was extracting 40KT ROM per month that puts those OPEX at $108 per Ton. If we sell at $369 that gives us $261 net margin.

So sell 3 trainloads of washed per month till say October gives us 3x11Kx$261x4months= $34.45m profits for this year.
If the 2nd HWM starts before September, great, but assume the double shift starts October.
Looking at October 22-October 23 with just 7trainsx11KTx$261x12 months = $241m net profits.
Each HWM can extract 80KT under contract per month which washed should produce a combined total of 80KT processed HiVolB. Add in the 10KT deep mine HiVolA. That is clearly more than the 77KT I based my calculation on as I cautiously based it on just 7 trains.
Sticking with that modest $241m net annual profits, a PE of 6, 354.4m shares would give a sp value of $4.08 or £3.91 (60p more than what someone suggested as a buy out price, but if we were to get offered £3.31 I'll still be happy. However I doubt Adam would consider selling until he has made BEN into a $bn Company. Personally, I'd prefer BEN keeps on ramping up the mining operations, selling the coal to integrity and starts paying dividends rather than being put up for sale to the likes of Warrior Met or overseas bidders.

Awesome that an offtake deal has been made with them funding coke batteries in return for product. Just need that washplant and testing lab to arrive onsite and start washing the stockpiles now. I thought AtoZ was Amazon, maybe we can get next day delivery.

BBB the half year financial report is due the end of this month. It will only show the amount of Run-Of-Mine unwashed coal sold and shipped out by truck and not the sale of washed coal shipped out by train due to the delay in signing off the rail track repairs and Southern Rail's problem of supplying all the mining community (not just BENS CREEK) with trains this quarter. As such the revenue, that started 2 months earlier than planned by shipping out the ROM in January, has only covered OPEX costs. The HWM has only recently been brought into a double shift/double coal extraction workload so again, that will not be reflected in the half year report.
Unfortunately. once the report comes out, a few may try to use it to pull the price down. So best to be aware now that profits will not appear in it. However in 6 months time the end of year report will show HWM extracting on double shift some 80KT ROM, washed to give approx 40KT HiVolB per month plus around 5KT Hi VolA from the deep mine. It will, hopefully, also show commencement of 2nd HWM ramping up to double shift to produce a further 40KT washed coal. The independent resource report is due this week iirc to give a better realisation of how much coal is within the acreage and determine the Life-Of-Mine. We expect it to be higher than that of the Admission Documents and as mentioned already, it is probably factored in to current investor's considerations of sp value, which makes today's drop a top-up opportunity. I certainly did.
To be upfront, I may have appeared to be ramping this stock over the last few months as I thought we were already in profit, but as the trains have only just started running and the 2nd HWM not due to start until late July/August I can't see my prediction of £1.55 coming true by Christmas. My spreadsheet has moved it all 2 months forward to February 2023 (sorry mum), but that is double today's price!
Only my thoughts on the matter, not advise to buy or sell. Like everyone says, DYOR & GL. And apologies for yet another verbose paragraph.

This is why I stick to conservative figures in predicting profit forecasts. In my verbose non-rampy paragraph at 14:48 today I used $115 as net margin after Opex/Capex rather than 200.
I also admitted that I had been saying we get 10p dividends by Christmas but am now pushing that to February next year. This is again to err on side of caution and avoid disappointment. The disputes within the rail company (not BEN) that have affected all Eastern seaboard US coal mines have caused the delay, but it does appear we are on track(s) to boost the amount of train shipments, each of 11KT washed coal from 3 up to 7 per month. Maybe 8 but lets say 7 and be pleasantly surprised if it is more. Those 7 trains won't start until late August/September as we need the 2nd HWM to be up and running on double shift which we hope will be August rather than September, but again lets pitch for September and avoid disappointment.