REG - Bens Creek Group PLC - Coal sales and delivery update

Bens CreekAnnouncement

28/04/2023 07:15

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RNS Number : 7897X  Bens Creek Group PLC  28 April 2023

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

 

Bens Creek Group plc

(Bens Creek" or the "Company")

 

 Coal sales and delivery update

 

Bens Creek (AIM:BEN) announces  that it has  completed the delivery, via
four trains, of circa 44,000 tonnes of coal to the largest steel producer in
India. The coal has been delivered to a ship berthed at the Port of Norfolk.

 

This order, through the Company's offtake partner, Integrity Coal Sales Inc.,
is part of a larger order to be completed by the end of July 2023.  The
customer has, post July of this year, the right to order further coal of up to
double the current order and the Company is confident the customer will do
so.

 

This is the first time that the Company has taken the lead in filling a ship.
This is a significant development for the Company, which is now able to
directly fill a ship, on a monthly basis, with anywhere between 40,000 and
70,000 tonnes of high-quality Bens Creek coal, a brand specifically requested
by the customer. For the first time, Bens Creek is able to sell its sought
after branded coal product directly to the customer, clean and undiluted by
other producers, thus firmly establishing the Bens Creek coal brand, for which
the Company is seeing significant demand from the largest steel company in
India.

 

As previously announced, the Company is close to having a second operational
highwall miner which will facilitate an increase in production and, once at
full capacity, the Company believes it will be able to complete sufficient
deliveries of Bens Creek coal to fill a ship each month.

 

Adam Wilson, Chief Executive Officer of Bens Creek, commented:

 

"The completion of the first part of this order is a milestone achievement
providing validation of the quality of our coal product, as well as confirming
our ability to complete substantial orders to a marque customer on time. It is
the first 'all ship' order that we have received, and we are confident that we
will see more."

For further information please contact:

 

 Bens Creek Group plc                                            +44 (0) 204 558 2300

 Adam Wilson, CEO

 Peter Shea, Chief of Staff

 Allenby Capital Limited (Nominated Adviser and Joint Broker)    +44 (0) 203 328 5656

 Nick Athanas / Nick Naylor / George Payne (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 WH Ireland Limited (Joint Broker)

 Harry Ansell / Katy Mitchell                                    +44 (0) 207 220 1666

 

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