UK 00:10 Sunday, 25 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Ben’s Creek (BEN) is – as I have warned for so long - a company that was always going to go bust. Now it seems that the Fat Lady is gargling.
Ben’s has sent an additional shipment of 20,000 tons of “off spec” i.e. sub standard coal to its 29.9% shareholder Avani selling it at just $60 a ton, as opposed to the normal coal price of $195. Avani has paid a Bernie up front and the remaining $200,000 will be paid on delivery. This is not a commercial deal it is just a way of staying afloat for a few days longer. Indeed Ben’s admits its fecked.
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