That $50 price is still a way off... Market isn't betting on it just yet but some of the futures contracts are already selling for over $50 so it's looking more probable now.
It would be useful to get a firm idea of the scheme of royalty payments from Iron Valley, I suspect it's not simply a fixed rate and as the price goes up there is likely to be an increased rate payed to BCI from MIN. Factor in the AUD has dropped a couple of cents since Dec qtr and MIN was gradually increasing production out of IV - it's possible BCI could earn $3.5 million from Iron Valley this qtr and earnings like that (especially with the very low opex of BCI) are better than most low-cap companies on the ASX.
BCI Price at posting:
9.4¢ Sentiment: Hold Disclosure: Held
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