Bens Creek Group PLC H1 Production Update (5917O)
04 Octubre 2023 - 1:00AM
UK Regulatory
TIDMBEN
RNS Number : 5917O
Bens Creek Group PLC
04 October 2023
Prior to publication, certain information contained within this
announcement was deemed by the Company to constitute inside
information for the purposes of Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310. With the publication of
this announcement, this information is now considered to be in the
public domain.
4 October 2023
Bens Creek Group plc
("Bens Creek" or the "Company")
H1 Production Update
Bens Creek Group plc (AIM:BEN), the owner of a metallurgical
coal mine in North America supplying the steel industry, is pleased
to provide the following production update for the six month period
to 30 September 2023.
Clean tons of metallurgical coal produced in the six month
period to 30 September 2023 and the 6 month comparative period to
30 September 2022
April May June July August September 6 month
totals
2023 27,681 34,116 29,416 20,994 42,691 50,100 204,998
------- ------- ------- ------- ------- ---------- --------
2022 13,065 8,970 20,897 14,166 25,200 17,630 99,928
------- ------- ------- ------- ------- ---------- --------
Adam Wilson, Chief Executive Officer of Bens Creek,
commented:
"We are delighted, as previously promised, to move to providing
details of quarterly production numbers of clean coal.
In the period from 1 April to 30 September 2023, we produced
approximately 205,000 tons of clean coal, which was a record six
monthly production figure for the Company and up over 100% on the
same period last year (six months to 30 September 2022: 99,928
tons). The production in the six months to 30 September 2023 is
also equivalent to 75% of the clean coal produced by the Company in
the financial year to 31 March 2023 (272,318 tons).
September 2023 itself was a new monthly production high for the
Company with over 50,000 clean tons produced, despite only having
the two Highwall Miners ("HWMs") in production, one of which was on
double shift, for around half of the month. With the two HWMs being
in full operation the Company anticipates that clean coal
production in October 2023 will be higher than September 2023.
In July 2023 we also suffered a period with no HWM production
following the previously reported mining incident which resulted in
both HWMs being out of action for a short period. This resulted in
clean coal production during July 2023 being 50% lower than August
2023 and July 2023 being the lowest production month in the six
month period.
With both HWMs now in full operation the Company expects to be
able to continue the growth in production into the next quarter.
This increased production is further enhanced by the reduction of
costs per ton from June 2023, and the recent rebound in the met
coal price from its lows of $191 in August 2023 to $238 at the
current time.
We remain optimistic for the future for the Company."
For further information please contact:
Bens Creek Group plc
Adam Wilson, CEO +44 (0) 204 558
Peter Shea, Chief of Staff 2300
Allenby Capital Limited (Nominated Adviser
and Joint Broker)
Nick Athanas / Nick Naylor / George Payne
(Corporate Finance)
Kelly Gardiner / Guy McDougall (Sales and +44 (0) 203 328
Corporate Broking) 5656
WH Ireland Limited (Joint Broker) +44 (0) 207 220
Harry Ansell / Katy Mitchell 1666
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END
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