Ben's Creek Group Plc ๐Ÿ”โ› - BEN - Share chat

IPO should be around 19th October. :mountain: :pick:

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Tuesday the 19th October is the date. If you can work your magic Freetrade as I would like some of that dirty coal.

And itโ€™s now live on LSE, any chance it could be added FT?

This company is the owner of a metallurgical coal mine in North America. The mine is located in the southern part of West Virginia and the eastern edge of Kentucky, in the central Appalachian Basin.

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Has it been added? Not seeing it yet.

It normally appears within a few hours.

There it is. Shame I missed the 14% jump but thems the breaks, Iโ€™m in nowโ€ฆ For the 14% drop.

I still need to do some more research on this, however it looks like this could have huge upside based on the agreement theyโ€™ve signed for 22k tons of coal per month being shipped from Jan-22 onwardsโ€ฆ

RNS out this morningโ€ฆ

Theyโ€™ve now got the mining contract sorted for 40k tons per month starting in December 2021.
The offtake agreement signed last week for 22k tons per month means they have an additional 18k which will be mined and easily sold on (effectively almost doubling their revenues).

IMO BEN is still massively undervalued based on the expected profits just from the offtake agreement alone:

Expected GM per ton @ $150
22k tons per month = 264k per year
GM per year = $39.6m = ยฃ28.9m
Market cap currently ~ยฃ50m

PE ratio looks very low currently (obviously only forecast right now).

They begin production in December and will have a total production capacity of around 500k tons per year.
Reserves of coal stand at 17m tons but estimate an additional 34m tons that needs to be formed up once they have free cash flow.

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So far itโ€™s doing really well. Aside from a little mishap I had with a stop loss triggering in one of those 1 second deep blips.

I do love an Ipo.

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Nice mention in the Honey newsletter today.

Letโ€™s hope the momentum continues and we get another RNS confirming increased production and another offtake agreement soon :facepunch:t3:

They should be mining and shipping it as soon as next month. Excluding any issues with setting up, this should re rate accordingly.

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Nice it had a bit of a dip today, thought I wouldnโ€™t get a chance to top up some more.

No idea where its going price wise, but so long as its up thatโ€™s good enough for me.

I love how a dip is going from 17% up to 6% up :joy:

But yeah this is a solid hold for me. When we get a red day Iโ€™ll be topping up.

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Bens Creek Group reflect on October listing as share price doubles since IPO - YouTube
m.youtube.com โ€บ watch

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Up to 26p this morning - I wonder how much more it has in the tankโ€ฆ

Equipment arriving on site now.
Expect an RNS on production starting in the next few weeks (most likely early December).

Also potential for another offtake agreement to be signedโ€ฆ hopefully this news flow should keep the momentum until year end :crossed_fingers:t3:.

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And today marks my second bagging stock of the year. A couple of weeks ago it was Premier African Minerals and itโ€™s now been joined by the beast that is BEN.

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Any more room for a multi Bagger?

Based on current forecast production I expect this could double from here. Thatโ€™s assuming several factors stay constant:

  • met coal price stays high (currently near ATH)
  • wash plant is operational
  • railway is repaired and operational

IMO there is however lots of upside to also consider:

  • future acquisitions - expecting an announcement on another acquisition this week. It could be more land with reserves or another high wall miner.
  • dividends - CEO has mentioned dividend payments as early as this year and would like to โ€œrewardโ€ early investors which has been taken to mean paying dividend close to the IPO price of 10p per share.
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