UBS reckons BCI breaks even at about $72 a tonne. We are just about at that price now. Why would they buy back back shares when they are quite likely going to be only breaking even or making losses at these prices?
On the contrary, capital management is even more critical now as they will need it to survive any further sustained falls in the iron ore price in the hope that they will be the among the survivors to benefit from any rise in the iron ore price in the longer after many juniors have folded.
The continued fall in the iron ore price has prompted many to further slash their forecasts so it might very well end up being a self fulfilling prophecy.
Careful capital management is critical.
How many percentage will drop?, page-60
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Last
30.5¢ |
Change
-0.005(1.61%) |
Mkt cap ! $879.7M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.0¢ | 30.5¢ | $88.99K | 287.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 128532 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 40000 | 1 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| BCI (ASX) Chart |