Coal sales and delivery update

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 Adam Wilson, CEO Peter Shea, Chief of Staff	[phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas / Nick Naylor / George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)	[phone]
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell	[phone]

 

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