Production update

RNS Number : 4323I

Bens Creek Group PLC

02 December 2022

 

Bens Creek Group plc

("Bens Creek" or the" Company") 

Monthly 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 announce that from 26 October 2022 to the end of November 2022, the Company has produced a total of 43,736 clean tonnes.  This production came from the newly permitted seam. Despite closing for the American Thanksgiving Holiday, the production in November 2022 is the highest monthly production to date and exceeds by 18% the Company's original peak annual production target at the time of the Company's admission to AIM, details of which are set out on page 24 of the Company's Admission Document published on 13 October 2021; 'to reach peak annual production at 0.44 million (444,000) tonnes in 2025.' which equates to 37,000 tonnes per month.

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

"For the first time we have produced c.40,000 tons in a month. The past month has been a busy transitional period as we moved from mining contractors to an owner operator model for earth removal. Armed with our fully operational fleet and the deployment of our 2^nd High Wall Miner, we look forward to 2023 with confidence. We remain on track to meet our monthly production targets and achieving in excess of 70,000 clean tons per month."

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Murat Erden, CFO	[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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