Wow, I thought we would see a bounce this morning with such a good price available. Hold on tight
I brought more …
Life’s a gamble. It’s only money
Well done to those that held on… 10% up now, after being 18% down at one point
With the news to come and what the SP did the last time it bounced off a support line this dramatically, I like the chances of over £1 again in the next few weeks
A very reassuring bounce. Today’s volume is now an all-time high apparently. I sold out a decent portion of my (admittedly small) holding when we hit £1.04 a while back, now holding only a few thousand but very reassuring to see this SP
Me too, gotta turn around at some point
The way I see it, BEN has been roaring since day 1 without pausing to form a base of more than a week or two.
The base it’s forming now is kind of overdue. If the fundamentals and market are decent, it’ll base out for a few more weeks and then have enough consolidation behind it to fuel a nice rally upwards, but in order to get there, it could base as low as the previous major resistance point which is at about 48.00
Update on BEN - shipping coal from as early as next week… expect to ship 12k tonnes per train load with 3 deliveries scheduled in the next 3 weeks.
With met coal prices pushing $450 per tonne and cost per tonne no more than $200 (IPO prospectus had it closer to $100), very healthy margins being made.
Adam also confirmed to have the high wall miner on double shifts now with the second HWM expecting to come online next month and soon after also working double shifts.
By early summer this would mean approx 70k tonnes of met coal being produced per month at $200 profit per tonne (based on current coal prices and a very prudent extraction cost).
The updated reserves report will also be released and is expected to be dramatically higher than the current 20m tonne reserve.
Exactly the news i was hoping for. And just in time too, nothing negative since the previous highs and if anything that bit about substantial increase to reserves is an added bonus.
And off the share price goes. Haha, this stocks and shares game is a game of patience ain’t it. But BEN has been really forthcoming and above board so far with news, so couple more months and i see some news highs for sure.
So i’m hoping once that secong highwall miner is up and running and the 2nd shift is put on that we can start hearing about the dividend.
All about patience. I think a lack of patience with BEN will cost a lot of people, although I’m sure lots have traded this too.
I wouldn’t expect dividend news until Q4 at the earliest tbh, but it’s certainly looking feasible given current met coal prices and the potential for additional HWMs in the future.
Time to buy a couple of thousand more shares then
Good old Big Ben.
RNS regarding the train. All looking good at the moment.
Ben will take us all to new exciting high returns
Weird day today - not terrible, but I expected a bit of a push now we have the choo choo news.
Delayed “sell on news” reaction today which turned into a bit of a panic.
Great trading opportunity however
Resource report due in the next couple of weeks - any significant upgrade to the reserves could see some momentum in the share price return as we near closer to full production.