Maybe this spooked people.
Some may be spooked by that, but only because they’re unaware of the difference between metallurgical coal used to create steel (the coal BEN mines), and thermal coal used to heat homes.
Met coal melted along with iron ore is essentially the main way steel is created, if we want to achieve net zero carbon goals and lessen our environmental footprint we need more renewable energy which in turn requires steel.
Thermal coal on the other hand is extremely polluting (a lower grade of coal compared to met coal) and predominately used in coal power stations to generate electricity - this is what developed and developing economies need to stay clear of.
Another train update from Big Ben.
Plus another booked for later this month.
Should expect at least 3 a month going forward.
At 11k tons of cleaned met coal per train, that would generate at least $2.2m of gross margin per train (assuming $200 GM per ton).
Once they’e operating at full production with two HWMs doing double shifts, they’ll be needing to up to 6 trains per month to shift everything being mined…
It’s looking good for Ben! Exciting times and with a dip in the price over the last few days a good time to top up for people with spare cash
I do not understand why this stock drop down every time appear a news about the company.
And what it takes even more my attention is that it happens even been a good news
Is it paranoia…
I’m wondering if all other investors know something I don’t.
Hence they are sell sell sell
Met coal price has dropped in the last couple of weeks from $440 per ton to $370 per ton. This is probably a factor in the drop (although BEN will still be seeing a healthy margin).
Another factor may also be the lack of news due (apart from the reserve report) since we won’t hear about production ramping up until July/August.
Two £120,000 buys before end of trading yesterday
Well that bodes well.
Reserve Base Evaluation RNS
90 odd million tons of coal available
Just me, or is it that everytime there’s news the share price drops
I’m not looking. Has it dropped again.
I may check next week then cry into my coffee
Think I might join you at this rate
Crazy drop today.
Took the opportunity to top up let’s see what the future holds for us
Bankruptcy ! I always look on the bright side…