was i right in selling?, page-16

hi Bernard

Its a million dollar question to buy or sell, personally i have tried to way up both camps and i am still of the opinion bc iron CAN keep increAsing in sp.

Bc iron have not yet had a full production year at full capacity at 4500,000 million tons. at the moment with the weaker aussie they are making around 90 dollars a ton profits .This would give them around 400 million coming through the door over the next year if the iron ore price could stay around 135 but even if it slips to 110-120 and we keep a lower dollar possibly even lower 250-300 million is realistic add that to the 157,million we have in cash we could be sitting on a mk not far off what we have in cash. Although we do have 90 million in dept you get what I mean.

WITH INCREASE IN RESERVES possibly 5 years purchase of another mine , australia growing , brazil I see plenty of growth opportunities and plenty of cash . i could easily see bc iron with a billion dollars mk in 2 years.

My VIEW IS STILL BUY