Luckily for MBU (mining advisor Mr. Adam Wilson of Daniel Stewart infamy) it has been dumping its shares in Ben’s Creek (BEN), CEO Mr. Adam Wilson of Atlantic Carbon/Coal infamy as fast as it can. Because today there is news of two more events in what is becoming an increasingly less slow motion car crash.
The FCA always tells us, when not lecturing us on climate change or the need of the financial services industry to employ more lesbians of colour, that past performance is no guide to the future. But the thing is that it very often is an excellent guide to the future. And that is one of the reasons why I have always regarded Bens Creek (BEN) as an accident waiting to happen.
At 6 PM last night, nobody is watching O’ Clock, Ben’s Creek - CEO infamous Adam Wilson of Atlantic Carbon/Coal and Daniel Stewart disgrace - (BEN) announced that its largest shareholder MBU (main advisor the same Adam Wilson) had dumped 22,222,222 shares (5.92% of the equity) at just 18p. As with all share dumping by Wilson entities this is not what it seems and it stinks.
Even Stevie Wonder can now see that the optics here are dreadful. It is as you would expect with Adam Wilson of Daniel Stewart, Atlantic Carbon and Atlantic Coal infamy. It stinks. Today there is another shocking announcement.
In a brochure boasting of its (dis) services to the capital markets, auditor PKF Littlejohn proudly lists some of the clients it has helped bring to London’s capital markets (some of which it also audits). The roll call of shame includes:
It is short podcast time as I am having issued sending material back to the UK. The Albanians did not turn up today so the olive harvest is delayed by 24 hours. It may be delayed again if I have to head to Athens on Global Shorting Conspiracy business. Things are starting to get interesting as I mention briefly and this is NOT Globo (GBO). Elsewhere I cover Edenville (EDL), Gulf Keystone (GKP), Sweet Group (CSG), Atlantic Coal (ATC), Iofina (IOF) and African Potash (AFPO). Warning: this podcast contains bad language and rather too many references to Britain's most talented chanteuse Ms Cheryl Cole.
John Meyer of SP Angel this morning comments on Atlantic Coal (ATC), Dalridian Resources (DALR), ASA Resource (ASA), Sirius Minerals (SXX), Rambler Metals (RMM) and SolGold (SOLG) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Atlantic Coal (ATC), Herencia Resources (HER), Kefi Minerals (KEFI), Obtala Resources (OBT) and Weatherley (WTI) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond and some thoughts on lithium.
We always thought that AIM listed Atlantic Coal (AC) was a 100% dog but the world’s number one mining analyst Roger Bade of Whitman Howard thinks otherwise and has initiated his coverage with a buy note. Whatever. In the interests of balance, the great man writes:
US-focused open-cast anthracite coal producer Atlantic Coal (ATC) is ‘actively looking for further high-quality and economically viable anthracite properties’ after turning a $272,000 (£175,000) loss into $3.7 million (£2.4 million) pre-tax profits in the six months to June. That is the word from chairman Adam Wilson, former head of entrepreneurial City stockbroker Hichens Harrison, following a near-40% increase in volume sales from the AIM-quoted company’s Stockton mine in Pennsylvania to 106,000 tons (not metric) in the first half year.
Before heading to the White Bear with my father, a brief podcast. Armadale I question its maths but its shares could well be cheap even after soaring 155% today. Then onto Atlantic Coal (dog), Sound Oil, Sefton, Jiasen & Cyan.
I was just riding into Kambos from the Greek Hovel and as I turned to go up deserted monastery hill I encountered a shocking member of the wildlife diversity community. More on that later. Meanwhile in today's bearcast I look at MoPowered,Tungster, Brammer, Tribal Group, Coms, Atlantic Coal and have an apology for Falanx.