Bens Creek Group Plc (GB:BEN) has released an update.
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Bens Creek Group Plc, a metallurgical coal mine owner supplying the steel industry, is facing severe financial difficulties after receiving a redemption notice for approximately $6.5 million in unsecured loan notes from Avani Resources, its largest shareholder. The company, already cash-strapped with a runway only until the end of May 2024, has also received a similar notice from ACAM LP and is considering filing for administration as it is unable to meet its repayment obligations. Trading of the company’s shares on AIM remains suspended as the Board explores available options.
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