Bens Creek Group (BEN)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

1.50p
   
  • Change Today:
    -0.052p
  • 52 Week High: 20.60
  • 52 Week Low: 1.50
  • Currency: UK Pounds
  • Shares Issued: 399.87m
  • Volume: 774,767
  • Market Cap: £6.00m

Bens Creek working to recover from Appalachia flooding

By Josh White

Date: Tuesday 02 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Coal mine owner Bens Creek updated the market on its infrastructure on Tuesday, following severe flooding in the western part of West Virginia and in Eastern Kentucky since 27 July.
The AIM-traded firm said the Appalachian region had experienced severe levels of rainfall and flooding "not seen for decades", causing downed trees, power outages, disruption to the water system and road blockages.

A state of emergency was declared in certain areas, while several deaths were reported in Eastern Kentucky.

The company said the areas adjacent to its infrastructure in West Virginia which had been affected were Mingo County and Logan.

Bens Creek said the "vast majority" of its infrastructure was unaffected by the weather other than the railway system, which did suffer some damage to railway ties along with the volume of water washing away ballast along several sections of the line.

However, the railway track itself did not suffer any damage.

The company also reported that it was able to source replacement ballast to ensure the material washed away was replaced ahead of the imminent arrival of trains from Norfolk Southern.

It said the repairs to the railway were complete, and passed an inspection by the rail operator on 1 August.

With the imminent arrival of a train scheduled for this week, the board said it was important to ensure the track was fully functional.

As a result, the scheduling of the train for arrival at the Bens Creek site this week was expected to be unaffected.

The severe flooding had affected the logistical supply and transportation of metallurgical coal from West Virginia and Eastern Kentucky to the various ports linking to the Norfolk Southern railway system.

Bens Creek said that resulted in Norfolk Southern agreeing to supply three trains to the Bens Creek site over the next seven days, to meet the backlog in supply.

"Firstly, I need to thank each and every member of our team, who worked tirelessly round the clock from Wednesday night, often through the night on multiple nights in succession in very difficult conditions, both to allow the huge levels of water to flow down the Bens Creek mountain and into the Tug river, with minimal damage to property, and then to work around the clock again repairing the damage to our railway line so that we are able to accommodate additional trains into the Bens Creek site to help the logistical difficulties caused in the region," said chief executive officer Adam Wilson.

"It is normal for the CEO to thank his staff, but on this occasion, my staff went over and above what could have been expected, as well as maintaining and protecting the assets of the company for the benefit of all shareholders.

"The staff at Bens Creek have also been active in the community trying to help where possible and to minimise any further damage and to prevent the loss of life."

At 1335 BST, shares in Bens Creek Group were up 7.95% at 39.4p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BEN Market Data

Currency UK Pounds
Share Price 1.50p
Change Today -0.052p
% Change -3.35 %
52 Week High 20.60
52 Week Low 1.50
Volume 774,767
Shares Issued 399.87m
Market Cap £6.00m

BEN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.47% above the market average33.47% above the market average33.47% above the market average33.47% above the market average33.47% above the market average
6.87% below the sector average6.87% below the sector average6.87% below the sector average6.87% below the sector average6.87% below the sector average
Price Trend
98.86% below the market average98.86% below the market average98.86% below the market average98.86% below the market average98.86% below the market average
98.6% below the sector average98.6% below the sector average98.6% below the sector average98.6% below the sector average98.6% below the sector average
Income Not Available
Growth
23.74% above the market average23.74% above the market average23.74% above the market average23.74% above the market average23.74% above the market average
28.12% above the sector average28.12% above the sector average28.12% above the sector average28.12% above the sector average28.12% above the sector average

BEN Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:15 53,281 @ 1.55p
16:11 20,000 @ 1.50p
16:10 25,000 @ 1.50p
16:09 20,000 @ 1.50p
16:09 125,000 @ 1.50p

BEN Key Personnel

CEO Adam Wilson

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