Member Info for Shatner

Would love to do a Sunday Roast special on this continuing saga. Will try to reach out to Steve N.

Yours Phil from the Sunday Roast crew.

Follow us on the Sunday Roast. I tipped this one on there. It's on Vox and Spotify. We interviewed BEN CEO Adam Wilson when the SP was 12p a week ago. If you haven't heard it then here it is.

https://open.spotify.com/episode/3WsKqynzB2Gt4QHG4ZbhRe?si=vBjRH0TeRWeuY5TYaXzvZw
Cheers Phil.

Again being conservative and staying grounded.

The trades are from Trading 212. No fees.

Met you coggsy at one of those investor evenings. Starting to put the word out there on BEN. Hoping Puddy put you onto this via myself.

They cannot tell us what the AISC/Costs are because it is commercially sensitive information. It is inline with the working capital numbers from the prospectus/IPO document so under $100 per raw ton.

“Adam Wilson, CEO of the Company, commented:
"We are delighted to have secured our first highwall miner to meet our expected production target. The agreement with MHW enables us to commission a second highwall miner to enable the Company to further expand its metallurgical coal production output. The nature of highwall mining is that the recoverability of metallurgical coal via direct mining into the coal seams is considerable which allows for production to be targeted to seams which have a higher level of recoverability than traditional mining methods."

Now if you take 1 million tonnes which is $140m EBITDA or £100m equivalent and use a conservative PE ratio of 4 it gives a Mcap of £400m. That’s well over £1 per share. And this will be starting in the next 6 months. Integrity will take all of the surplus met coal!

Written two docs on the company to read. Have a look on here, the one I posted yesterday with valuation is a good starting point.

Have a look at the document I posted, it spell out the value scenarios.

Price is conservative so no one can complain it is overzealous and ramping.

shorturl.at/gBGW0

Will see 20 and then 31p is fair value here on the numbers.

It seems that all of these companies are now recovering from a severe downturn and Bens creek are now in a prime position to benefit from this long term reversal and demand for steel from production of met coal. The limited downsides effecting BEN are the $7 per ton royalties and how much coal they can produce at these high price levels but with the BOD being conservative in the scale of the recent offtake agreement it could be a case of under promise and over deliver. The CEO has stated that Integrity coal the offtake partner will take more coal than the agreed 22,000 tons per month so there is upside potential to significantly increase the revenues as the plant output increases. With a current SP of 14-15p and Mcap of £50m there is a significant upside in the SP with the current profit per tonne at $150 and the offtake agreement with Integrity at 250,000 tons per annum projecting a share price of 31p using a conservative PE ratio of 4. By reference to the group of met coal producers listed above, it is clear that there is a significant value disconnect between Bens Creeks’ current market value and peers across the three main markets AIM, TSX and NYSE. The mean market cap of the two smaller producers is
circa $1Bn whilst BEN’s market cap is a mere $60m/£45m.

Let’s deal with facts J4AMS! The resource guides are on the CMRS website.

I suggest you stop posting misinformation on the resource size. J4AMS

This is huge, it basically confirms the anomaly and sets us on course for the magical 2Mt figure and more. Come on AA let's see your poker face now!!!!

There was no seed round. Read the prospectus!

I suggested this to her on the podcast if you listen again!

Come join the HUI TG group and also get involved with the IPO.

https://bit.ly/3iWAECr

Mobeus added 13% yesterday (see RNS) and have clearly got a bargain. Couple that with a £105K buy at 10am this morning and you don't need a crystal ball!