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I’ve not got the details to hand but I recall the LOM, “Life Of Mine” being 90+ years at current production.
Secondly, in 5 years, if you think there’s an alternative for steel, to construct railways, beams for literally any structure being built in the world, aviation, shipping, containers, masts, military equipment, bridges, boats… etc etc… what will it be made of? 3D printed frog snot? Get realistic, this type of coal literally makes the world go round and there isn’t anything in the foreseeable future that will replace it, like for like in cost.
Share price = not a reflection of what the business is achieving nor its actual value.
If you don’t get that, sorry… but this share isn’t for you - move on! In fact, I don’t want you here!
If you’re a long term investor - get your backside in this and enjoy the next 50 years of your dividend pension plan.
The asset is in the ground, there’s a shed load of it, and it’ll sustain you for the next 50 years at least.
If you don’t get this, shares in mining companies aren’t for you.
Go play with your exploration, estimation and anticipation shares instead!
This is a long term business - it’s backers will enjoy a return, long term.
It’s traders may make a few bucks here and there but the intelligent crowd knows that their investment here
will reward them year after year by being a true Ben Believer, Supporter and Backer.
Only a fool would sell. Build your portfolio here for your future.
A world without steel - never gonna happen.
A world in crises - steel, whether it’s construction, infrastructure, manufacturing, renewables or wherever else required needs metcoal, and that’s our business.
Looking good - a lot of questions answered.
2 confirmed coal transport routes to get our product to the docks. Plenty of confidence shown by the largest shareholder who is happy to be publicly subjected to questions and puts his vision for his investment out there for all to see which is a long term commitment to the business.
Clearly this is a dividend based business with guaranteed coal in the ground for decades to come, confirmed by
independent ground analysis. Iqbal clearly seems to have a great amount of faith in the way Ben’s Creek is being run.
Can only take comfort from what’s been said, this should be good for long term holding with a yearly or twice yearly dividend payment for decades to come.
These two interviews should lay to rest any concerns and attract new long term investors who will look for dividends rather that quick day trading gains.
There are several MBU Capital.
The one with shares in Ben’s Creek = MBU Capital Group Limited
If you’d bother checking Companies House, you’ll find it’s very much active and
up to date with filing history too.
Get fact and then comment rather than confuse and panic people, please
Back to where we were prior to the panic, majority shareholders indicate their continued support, holding and non-selling of shares in the company.
Knee jerk reaction by some leading to panic rather than taking some time to think about it.
Let’s move on and upwards - it’s all good here at Ben.
HH, that was went John Story was flooding the market with shares, and they issued a statement, they weren't aware
why it was happening and are aware of it.
This is slightly different. They're not sold anything yet.
Somehow, this isnt't something I'd expect the company to comment on as it basicaly has nothing to do
with them. It would be the same if they commented on me having a charge on my shares.
We should differentiate between the company and a share holder.
if MBU goes bust, Ben doesn't.
The shares would either go on the market or retained by Bluestar, who already is
a large shareholder.
They've now placed a security on the shares, and assuming their outlook remains unchanged,
similar to the outlook of Ben's directors and long term holders, it'll all be fine.
""Not sure how a company with shareholders funds of £6million can lend another company so much money as to place a charge on £42 million of shares valued at 19.75 each?" Their charge would be on the initial share price at IPO, which would be significantly lower. 42 million shares, would be £4.2 at £0.10 a share, so based on your £6m it's possible.
Taken from Facebook :
Negatives:
Washplant, leased Rail Spur repairs took few months longer than hoped.
Rail shipments started later in the year so coal could only be shipped by truck in first half.
HWM only started double shift in June.
Convertable Loan Notes (CLN) were issued on premise they were being used as CAPEX to purchase 'acquisitions' such as neighboring disused mine sites, but they were used to buy a HWM that needs $1m repairs, to pay OPEX operational costs and to maintain a cashflow whilst sales from trucking coal were not profitable and the market price of coal dropped.
The BoDs hold majority shares and voting rights under a 12 month hard lock-in so other potential large investors/institutional buyers such as pension funds were deterred/unable to find the volume to invest. Exception being JS but he was a private investor.
Positives:
This is a metcoal mine in USA, with all costs and sales transacted in US $. The $:£ now means that a hypothetical $96m annual profit = nearly the same as £96m!
The BoDs will change from hard to soft lock-in next month allowing them to sell shares in a controlled way so as not to have an adverse effect on the share price. My understanding is that they can sell a big chunk to a large investor such as a pension fund/steel plant/offtake partner without it affecting the market price negatively. In fact such a sale/transfer of shares would benefit all as the BoDs would make a profit, and all investors should see a rise in the sp as a consequence of this.
The #20HWM was purchased at a very low price of $2.4m iirc and needs $1m repair works. However, a fully operational HWM costs around $9m so BC got themselves a bargain assuming it can be put to use by the end of the year either as a back up to avoid any downtime should one of Mega's HWM develop a fault, or be used to triple current output levels by mining on the new 299 acre permit site.
The 71SHM rig is outputting equivalent of 30KT+ HiVolB washed metcoal each month now. The underground rig is outputting equivalent of 10KT+ washed HiVolA each month. A combined 40KT+ of HiVolB+. There are 3 trains taking the coal away by the offtake Integrity group each month with more planned. Coal can also be sold by truck to other offtake partners on condition that the hedged deal with Integrity has been reached.
The permit landed this month despite the DEP government office taking a full year to pass it, a few months later than expected/hoped for. Mega can now ship their 77SHM rig from Ashland. Kentucky with anticipated assembly/operation onsite at BC by end of October (admittedly 3 months later than planned, but was no point them sending it until the DEP issued the permit).
*CONTINUED*
The leased rail spur has been purchased to avoid it being used as a ransom strip by the original owners. Integrity inspected and passed the track at the start of the year and immediately after the recent floods allowing BC to continue shipping coal by rail.
All the original leased site equipment has been purchased outright and new 'yellow iron' Cat & Komatsu surface mining equipment has been ordered and arriving onsite already. J-MAc contract ends November at which time BC will employ their own staff to operate the machinery making a more cost effective and productive solution. This CAPEX also adds value to the business as a whole.
The 77SHM should reach 30KT+ output by December and the underground ramp up to 20KT per month. At full production BC will output 80KT washed coal each month. This could increase to 120KT Q1 2023 if the #20HWM rig is put into operations alongside the other 2 Superior HighWallMiners leased from Mega.
The washplant can handle all this plus coal from other sites should a royalty basis be agreed with neighboring Companies. The rail fast-flood system could also be offered to other mining Companies on a royalty basis.
The business is profitable and will become more so once the 2nd HWM is in operation and when market prices increase as expected. I don't like to use the word 'expected' as it has been the downfall here in the June RNS but I use it as the whole coal mining community expect the market price to increase as surplus stocks bought at discount from Russia pre August 10th sanctions run out in Europe and Asia. Steel production to make wind turbines, construction, military hardware, vehicles etc all depend on using metcoal. All these are expected to increase in production.
The last couple of months may have felt like crawling. We are doing now what was 'expected' a few months ago. However, BC is still not even 1 year old. Once in full production, this new mining company will be barely 14 months old and running.
"Keep the faith and it will all come good."
[I am just a private investor so the above notes are just my own take on things. Feel free to correct me on any of it or if you feel you have more to add either positive or negative. I am invested but try not to be biased]
Takeovers of UK-listed companies are subject to a very long and detailed document called The Takeover Code that runs to over 400 pages. It is designed to ensure that shareholders are treated fairly, not denied an opportunity to decide on the merits of a takeover, and afforded equivalent treatment.
There is also an organisation called The Takeover Panel that ensures that The Takeover Code is followed by all parties involved.
However, it is important to understand that neither The Takeover Panel nor Code are designed to decide on whether a fair price is being offered or if the deal makes sense for the businesses concerned. That is for the shareholders to decide for themselves.
They also don’t rule on whether the purchase is in the broader national interest as that is the remit of the government.
Are acquisitions good for shareholders is a question that’s often asked. The research done on this seems to indicate takeovers are usually better for the shareholders of the target company rather than those of the purchaser. Individual cases will depend on the price paid and how good a fit the two companies are, both of which are quite difficult to judge before any transaction takes place.