Variety is the spice of life, page-34

At this time there is no light at the end of the tunnel for iron ore producers like BCI. They are literally burning cash with no sign of a profit. The company, no matter how good management is, has been caught up in a boom bust cycle and the bust has it locked into a bleak future.

If these guys stopped mining now what would the closure costs be? BCI will always own its royalty debt to government and that is due in the next few months. I would dare say, in a case of closure, the bank account is gone. Continuing to operate at a significant loss will also see the bank account gone.

How fortunate, in so many ways, was Iron Ore Holdings to get out at the time they did? All of the "assets" acquired by BCI through the IOH acquisition are effectively worth nothing as they stand today. In hindsight how clever was BCI management?