RE: Loading trains is ZZ ;)1 May 2023 23:12
Is the video with the cat bulldozers archived footage?
Thought Ben had bought all Kamatsu equipment, cutting out contractors! As discussed in RNS below, perhaps so busy Ben has had to re engage contractors again, ifs and maybe's.
Adam Wilson, Chief Executive Officer of Bens Creek, commented:
"I am very pleased to announce the successful Placing and Subscription and are grateful for the strong support for our strategy by new and existing shareholders, particularly MBU and its beneficial owner Mohammed Iqbal.
The net proceeds from this Placing and Subscription will enable us to fulfil the next stage of our growth strategy which is to move away from a contractor model and become an owner of our own rolling stock of heavy equipment. As such we have already started to acquire a fleet and with this fundraise, we will be able to fulfil this objective with new equipment from Komatsu.
The new equipment and new fleet will substantially improve the company's ability to Highwall mine metallurgical coal above ground as we move towards getting the new permit with our above ground Highwall Miners, as we will then have a much larger area under permit to use two, and potentially even three, highwall miners. Accordingly, we need to control the "yellow iron" mobile equipment that does the advancement work and allows these highwall miners to mine into the seams.
When we listed on AIM, we had no choice but to engage a contractor to help us with this advancement, however as we now look to exceed the initial monthly production target of 40,000 and move towards our target of circa 70,000 - 80,000 tons per month, as previously announced, it is important that we own the equipment fleet so that we are able to keep at least two highwall miners operational simultaneously.
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