REG - Bens Creek Group PLC - Highwall miner update

Bens CreekAnnouncement

05/05/2023 07:00

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RNS Number : 4761Y  Bens Creek Group PLC  05 May 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.

 

5 May 2023

 

Bens Creek Group plc

("Bens Creek", the "Group" or the "Company")

 

Highwall miner update

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, is delighted to confirm that,
further to the Company's announcement of 23 March 2023, a second highwall
miner ("HWM") has arrived, been assembled and has commenced operating.

HWM unit no 77 started arriving disassembled at the Company's site
approximately 8 weeks ago. Initially there were issues with the infrastructure
arriving in a timely manner and even once finally assembled, HWM 77's software
and associated electronics were unable meet a satisfactory condition to begin
operations.  Despite strenuous efforts by Mega Highwall Mining LLC ("Mega
HWM"), the Company's highwall mining contractor, it proved impossible to
complete the necessary work as certain electrical components proved to be
unobtainable. As such, following consultation between Mega HWM and Bens Creek,
it was agreed that a replacement highwall miner was the only alternative.

Mega HWM quickly identified another available highwall miner, unit 81, which
they moved to the Company's site on Monday, 1 May 2023. The machine was
assembled and tested by Thursday, 4 May 2023 and will be fully operational
today.

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

"While we are obviously disappointed that we wasted considerable time with a
highwall miner which proved to be unusable, we are delighted at the speed with
which Mega HWM have moved to correct the problem. We are now in the position
to advance quickly to full production and deliver on our commitment to our
shareholders."

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)                                                   +44 (0) 207 220 1666

 Harry Ansell / Katy Mitchell

 

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