Bens Creek Group PLC Quarterly production update (8586Y)
08 Enero 2024 - 1:00AM
UK Regulatory
TIDMBEN
RNS Number : 8586Y
Bens Creek Group PLC
08 January 2024
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.
8 January 2024
Bens Creek Group plc
("Bens Creek" or the "Company")
Quarterly 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 three-month
period to 31 December 2023.
Clean tons of metallurgical coal produced in the three-month
period to 31 December 2023 and the comparative three-month period
to 31 December 2022 are set out in the table below:
Year three-month total
(October-December)
2023 112,342
--------------------
2022 73,655
--------------------
Adam Wilson, Chief Executive Officer of Bens Creek,
commented:
"We are pleased to provide our first quarterly production
update."
"In the period from 1 October 2023 to 31 December 2023, the
Company produced 112,342 tons of clean coal, an increase of 52% on
the same period last year (three months to 31 December 2022: 73,655
clean tons). The production in the three month period to 31
December 2023 is equivalent to 41% of the clean coal produced by
the Company in the financial year to 31 March 2023 (272,318 clean
tons)."
"We were restricted in production in November and December
because of a slowdown in the availability of trains in the quarter,
particularly in December, which saw a build-up in inventory to
circa 90,000 tons. This was subsequently reduced to less than
60,000 tons following some deliveries being made. The reduced
availability of trains was due to coal handling capacity issues at
the Port of Norfolk. To partially address this the Company has been
trucking some coal to its customers."
"This increased production is further enhanced by the reduction
of costs per ton from June 2023, and the recent rebound in the
metallurgical coal price from its lows of $191 in August 2023 to
$250 at the current time."
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDZGGMNKFGDZM
(END) Dow Jones Newswires
January 08, 2024 02:00 ET (07:00 GMT)
Bens Creek (LSE:BEN)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Bens Creek (LSE:BEN)
Gráfica de Acción Histórica
De May 2023 a May 2024