George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
https://twitter.com/lewis79654924/status/1513903105389346817?s=21&t=J-N2r4fKZN4PHZX457Ne1w
Arok - thanks, sadly that's just the remaining tip of the iceberg. I sold loads more at massive losses, these are just the final remaining residue that it would now cost more to sell than keep. And when I open my account they're sitting there looking at me, a reminder of the kind of companies and people to avoid.
I was involved and supportive here some time ago, but eventually realised I (and everyone else) was being mightily hoodwinked by AB. I moved on having learnt a painful lesson. I still have a residual shareholding in my trading account which may be instructive re company / Bell performance:
cost: £5853.92
current value: £14.73
change: -99.75%
I don't seem to be seeing any posts after 10:34 yesterday (mon 28/3) morning. All other pages I check seem fine and right up to the minute. Please fix asap as I think today (tues 29/3) is going to be a busy day.
haggis - telegram is an app which enables multi-person chats, each managed by an administrator. there are a number set up for those invested in particular companies or sectors, and there's one for BEN, which has got some great, well informed contributors in it. I think there's a link which you can use to request admin to give you access to the BEN group. Hopefully someone will be able to share it (I don't think I've got it any more). Cheers!
Wow, you're hopeful! There's a lot there - I know they're all in the pipeline - but to be all done by end Jan is optimistic! Even if a small proportion of them are completed that will give BEN and the sp a boost.
Positive sounds via the telegram group that things are progressing well on multiple fronts in W Virginia.
I think we'll be entering a news-rich period very soon, signalling material progress in key areas including wash plant, rail, first deliveries and payments. Also possibility of further acquisitions, royalty deals, offtake agreements (thanks Haggis - though maybe AW will prefer to sell on open market if demand is high and he can get better prices?) (and maybe even progress towards BENs 2 and 3!).
I expect all this will push sp to new highs in the short term.
From mega highwall mining website: 'Mega Highwall Mining LLC. (Mega) was founded in 2015. We operate both ADDCAR and Superior/Cat highwall mining systems. Mega recruits the best operators from around the industry. We are dedicated to producing results safely. We take great pride in our machines and maintain industry leading availability. Our sister company, Mega Rebuilders LLC., operates two fabrication shop allowing Mega to have the ability to produce our own parts and upgrades for our miners. Mega has experience with mining in various adverse conditions including steeply dipping seams, augered works, extreme climate, and numerous others. Our machines have been customized and have the ability to mine coal from 28" up to 28'.'
What we do know is MHW are experts at high wall mining in W Virginia, all seasons, have all the right equipment and powerful motivation to achieve the agreed production targets ie payment is linked to achievement!
£25k buy @ 35.5p at end of day. That plus plenty of buys @ 35p sets us up nicely for Monday.
Great day, hopefully 1st of many. Enjoy your weekends Bennites!
The current 12 month contract with MHW is for a minimum production capability of 40,000 tons of metallurgical coal per month. So at 50% conversion from raw = 80k raw mined per month ie about 2700 tons per day if they work 7 days pw. That covers the 22k pm met coal offtake agreement and 18k over either as extra to the current offtake, or for another contract or to be sold on open market. That gives est. £4m profit per month. If they can get more out of agreement with MHW, or get 2nd HWM then this increases! Big numbers incoming! GLA
Haggis - IMO BEN should go for everything it can as soon as it can. Pursuing acquisitions won't slow down or speed up the wash plant and rail work. They are on track - coming v soon. Acquisitions and royalty deals will accelerate BEN's expansion which will be fantastic news for all holders. Funding for deals already in place and AW stated he does not want to sit on that cash, he wants to put it to work ASAP. Exciting times!
It is annoying though that there are still people (person?) prepared to sell at this low price. Nuts! They clearly don't know what's coming. (Then again, I suppose if they weren't selling then we wouldn't be able to add at current bargain price!)
Haggis - that's exactly what the MMs want you to think! Hold firm! The fundamentals of BEN are EXCEPTIONAL and will be reflected in sp, hopefully sooner rather than later, with assorted positive news expected through this month.
FK1 - it's been in a channel between about 31 and 35 for a little while. It'll break out soon and my view, given next news likely to be very positive, is it'll be to the upside. Don't wait too long - you could miss out on significant rise for the sake of a penny or two. All obv IMHO.
looks like anyone with cash can get a BEN bargain at the moment. sp won't be at this level for long. with current production confirmed, wash plant and rail line refurbs complete - all these could come any time now - and resulting deliveries and payments, simple calcs suggest sp should be at least double current level. Add the strong likelihood of further near-term expansion - again, additional deals could be announced any time, AW has the cash to do it and his eye on a number of targets - and the anticipation of dividends later in the year, anyone getting in now for the first time or adding should be handsomely rewarded.
Happy New Year Bennites and good luck to all of us.
BEN's business is metallurgical coal - essential in manufacture of all kinds of steels, including those required for green industries. Steel will be in huge demand in USA with $1trn+ infrastructure programme now signed off. (i.e. BEN is NOT involved with "murky" thermal coal)
Falling knife - yes, now is the time to get in, currently around support level / bottom of rising trend, and yes, can and will do everything suggested in 2022 (look at recent RNSs, interviews and Sunday roast podcasts) - expecting multibag plus dividends.
Agree, this was a nice, christmassy podcast: https://audioboom.com/posts/7999912-the-sunday-roast-presents-12-stocks-for-the-12-days-of-christmas-episode-6-bens-creek-ben
I am very much liking Adam's vision for BEN for the coming year - more infrastructure, more reserves, much more production. He has explained how this will happen and has already started e.g. 16/12 RNS re lease on neighbouring property, and in the related interview when he explains he will not sit on the recently raised cash but is in advanced discussions with a number of other nearby sites with reserves, infrastructure etc. He's looking to do deals quickly, before anyone else catches on, and is in a position to do so. I am sure there will be more newsflow on this very soon.
Adam's stated aim is for BEN to become one of North America's premium met coal producers. He's said recently that he thinks $1bn company is possible - that's a market cap of over 6x current. He is so clear about how this will be achieved, in sensible, practical, do-able steps, and clearly has the expertise, motivation and backing to drive the agenda forward at pace.
And he never fails to say thank you to shareholders. He expects that during 2022 BEN will become highly profitable and cash generative, and has re-stated his commitment to returning cash to shareholders as soon as he is able, and is certainly expecting to so during 2022.
GLA!!
Haggis - feel lucky, you've been saved, this is God telling you not to bother with shares other than BEN ...