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BREAKING: Ben’s Creek is a life raft being readied by MBU ahead of administration? Tell us about Freeland...

By Tom Winnifrith | Monday 25 March 2024

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.

As my old pal Doc Holliday says “rinse and repeat, rinse and repeat” MBU run by Iqbal Mohammed and Adam Wilson bought the worthless assets of Ben’s Creek (BEN) for buttons from a bank that had foreclosed on the prior owner. MBU packaged them up, floated it, pumped the stock, dumped its shares at bonkers prices ad vended in more pointless assets leaving the cash burning company drowning in debt and unpaid bills. The word on the street is that with contractors unpaid, a highwall miner being taken off site, activity on the ground has almost ceased. There should be an RNS…
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