Despite the global push towards renewable energy sources, coal continues to play a crucial role in the world’s energy mix. The continued importance of coal stems from its reliability, affordability, and the challenges associated with a rapid transition to alternative energy sources. While acknowledging the environmental concerns, it is essential to consider the nuanced role that coal plays in supporting energy security, economic stability, and technological advancements.
Introducing Benjamin Hill Mining Corp.
(CSE: BNN) (OTCQB: BNNHF)
(CSE:BNN) isn’t ignoring the major role that coal has to play, and the potential upside of mining it. In fact, the company has just released some major news…
Out of the gate, our newest pick is already up 015c, 4%.
One of the primary reasons for the sustained importance of coal is its contribution to energy security. Unlike some renewable sources, coal provides a stable and consistent energy supply, making it an essential component of a diversified energy portfolio. As nations strive to reduce dependence on fossil fuels, coal serves as a reliable backup during times of intermittent renewable energy generation or supply chain disruptions.
(CSE:BNN) sees the value of coal, and as such Benjamin Hill has just signed a Letter of Intent to Acquire Interest in Fully Permitted Coal Project
Coal remains an affordable energy source, particularly in regions with abundant coal reserves. Its cost-effectiveness makes it a viable option for developing countries seeking to meet their growing energy demands without incurring exorbitant expenses. The affordability of coal helps bridge the energy accessibility gap, providing electricity to communities that might otherwise struggle to afford alternative, more expensive energy sources.
Lets just say… coal is in high demand right now, with Thermal coal prices standing at around $120 a tonne, after surging to a record high above $400 last year as countries desperately sought alternatives to Russian gas after the start of the war in Ukraine.
The global coal price index reached 242.2 index points in March 2023. Although figures decreased comparatively in the last few months, coal prices have still seen a significant net increase over the past two years. This was largely due to greater fuel and electricity demand as countries slowly exited more stringent coronavirus restrictions as well as fallout from the Russia-Ukraine war. As many European countries moved to restrict gas imports from Russia, coal has become the alternative choice to fill the power supply gap, driving up prices.
According to this recent news, Benjamin Hill Mining (CSE:BNN) has entered into a non-binding letter of intent with Aion Mining Corp. outlining a proposed transaction whereby Benjamin Hill will acquire 20% of Aion and its interest in a fully permitted coal project located in Santander, Colombia.
Key components to the acquisition:
- The property contains eight known seams of metallurgical and thermal coal from recent and historical diamond drilling programs and surface exposures;
- The project is fully permitted under Colombian Law, including environmental licencing;
- Location and existing regional coal mining infrastructure is excellent.
The big fish are keeping on trend with the potential elicited by coal too, HCC, AMR, METC, & CEIX for example, and we’re seeing constant growth and huge price targets for all of these major players.
Thermal coal is used to produce electricity and is being phased out as part of a global transition to clean energy sources, but despite the rhetoric that Western companies may be dismissing the search for new coal sources, Reuters.com affirms that investors investors say coal still has a powerful role to play in the coming years since it can be used to feed the needs of the global shift to cleaner energy. Demand for coal – driven by Asia – remains strong, lifting prices.
The coal industry contributes significantly to economic stability in many regions, providing employment opportunities and supporting local economies. The extraction, transportation, and utilization of coal create jobs and foster economic development in areas where alternative employment opportunities may be limited. As governments work towards a just transition, it is essential to consider the economic implications of phasing out coal and invest in strategies that mitigate potential negative impacts on communities that rely on the coal industry.
The continued use of coal also fuels ongoing research and development efforts to improve its environmental impact. Advancements in clean coal technologies, such as carbon capture and storage (CCS), aim to reduce greenhouse gas emissions associated with coal combustion. By investing in innovation, the coal industry can evolve into a more sustainable and environmentally friendly sector, ensuring its relevance in a carbon-conscious world.
According to TradingView.com’s analysis, 13 technicals are reflecting a BUY sentiment, and the company’s behavior over the last year has shown consistent growth.
And let’s be clear here.. Benjamin Hill Mining is hedging their bets, not to be left out of the renewable energy game either.
The Western Copper and Gold Casino project in the Canadian Yukon is considered one of the largest in the world, however (CSE:BNN) is turning heads with their 100% interest in a property with soil deposit anomalies indicating their occurrence may be twice the size of one of the biggest Copper and Gold Projects in the world.
KEY HIGHLIGHTS OF THE ALOTTA PROJECT
- Magnetic depletion coincident with gold/copper in soils anomalous geochemistry indicates the occurrence of a large, porphyry related hydrothermal system.
- High total potassium counts from radiometric surveys support porphyry potential.
- IP chargeability results overlap the same area of interest as coincident soil geochemistry and geophysical anomalies.
- Allota shows insitu Gold/Copper in-soil geochemical anomalies over 4.0 x 1.0 kilometers.
- Similar intrusive complex geological setting to the Casino deposit. Casino deposit is host to 2.17 billion tonnes of measured and indicated resources containing 7.4 billion lbs of copper and 12.7 million ounces of gold – Western Copper and Gold, June 22, 2021 news release announcing PEA outlining the deposit.
- Never drill tested, the project is permitted for drill testing. Drilling commences in early November.
- Management of the project by Archer Cathro and Associates, the same company responsible for Casino exploration.
- Archer Cathro has defined targets for drill testing. Initial proposal is 2 holes, each to 500-meter depths.
Just 40km to the south-east of the Casino project, the Alotta Property shows Gold/Copper in-soil anomalies over 4 Km X 1 Km in size, twice the size of the resource area of the Casino deposit.
The Yukon Area is home to such industry GIANT mining corporations as Barrick Gold, Kinross, White Gold, and Newmont. Gold and copper mining in the Canadian Yukon is deeply intertwined with the region’s rich history and natural resources. The Yukon, situated in the northwest corner of Canada, has been a focal point for prospectors and miners since the late 19th century during the Klondike Gold Rush. Today, the territory continues to be a significant player in the mining industry.
This positive sentiment seems likely to continue, following some exciting news from Benjamin Hill Mining Corp. at the beginning of this month. In addition to the Copper, Gold, and Molybdenum porphyry that we have seen, the company announced the start of the diamond drilling program at the Alotta project in the West-Central Yukon. The drilling program will test the central area of a large chargeability anomaly over 2.0 kilometers long. The IP data outlined areas of high chargeability/moderated resistivities, that are also coincident with the anomalous copper and gold in soil and geophysical anomalies.
In this situation, we are comparing apples to apples, and considering both Western Copper and Gold, and the newcomer to the scene, Benjamin Hill Mining (CSE:BNN) share an unequivocally similar geological setting
Let’s also consider the investment that has been put into Western Copper and Gold’s operations in the Yukon.
Rio Tinto Canada Inc. has bought a $25.6-million stake in the Casino project which is owned by Western Copper and Gold.
“This is a large project and we’ve been pretty open that it was going to require probably a bigger company than ourselves to move it forward,” said Paul West-Sells, CEO of Western Copper and Gold.
“Now we have … depending on how you look at it, the second- or third-largest mining company in the world, with Rio Tinto involved.“
With consideration that Benjamin Hill Mining (CSE: BNN)’s 74 claim Alotta project “shares a similar geological setting to this (Casino Project) deposit”, the inference that BNN is sitting on a lucrative opportunity is unequivocal.
Despite the fact that both are junior explorers with claims in the same Yukon region …
Western Copper and Gold’s has a market cap of $276,884,049
Benjamin Hill Mining (CSE: BNN) has a market cap of just $13,536,907
And in further breaking news…
Diamond drill testing within this zone is recommended for further exploration to better understand the cause of the chargeability, elevated soil geochemistry, and relative magnetic lows.
The completion of the induced polarization survey confirmed a large chargeability anomaly over 2.0 kilometers long. The IP data outlined areas of high chargeability/moderated resistivities that are also coincident with the anomalous soil and geophysical anomalies. As a result, camp construction has been completed to facilitate the requirements for a diamond drilling campaign proposed for this fall.
We’ll be keeping CSE:BNN at the very top of our watchlist. This company is diversified, and their capitalization on the coal market right now leaves them poised to take off in a big way.
Stay tuned, we will keep you apprised of this evolving situation.