Any project that BCI would have to take on would have to be well advanced IMO, Port and Rail sorted out as well.
I found this part interesting in the article
"Young suggested opportunities with lower grade hematite were perhaps being overlooked by Australian companies"
Yilgarn region sprang to mind as maybe an area they are looking at with Governement committing to upgrade of Esperance Port.
Two Companies that could be on a potential shopping list are
Golden West Resources - Mkt Cap $73M - Wiluna West Hematite Project 120MT
Cazaly Resources - Mkt Cap $32M - Parker Range Project - Capex $160M - 4.2 MTPA low phosphorus fines
GWR register looks tight with some big names - Cliffs, Hunan, however I did notice Nefco Nominees already owns 19%.
Food for thought and could be way off the mark.
Hows that for a conspiracy theory Chelks LOL...
Either way with Cash on Hand and use of scrip and the Nulligane project ticking away in the backgorund, BCI are well positioned and have plenty of options.
Just have to sit back and wait and see what unfolds but this company looks to have plenty of growth left IMO.
Cheers
Recent Article about Esperance Upgrade
THE State Government has finally committed to a significant upgrade of Esperance Port, potentially opening up the Yilgarn iron ore district for mining companies.
Transport Minister Troy Buswell announced this afternoon the State Government will shortly embark on a “market sounding exercise” to try to find financial backers for a $300 million expansion of the port.
Mr Buswell said the staged expansion will eventually add an extra 20 million tonnes a year iron ore export capacity from Esperance, which will allow development of the Yilgarn iron ore province, north of Kalgoorlie, to begin in earnest.
Mining companies with projects in the area have been pressuring Mr Buswell for some time to move on the port development while iron ore prices are still high.
Development of the port has been the subject of arguments within the mining community, after an earlier plan for unlisted iron ore company Cashmere Iron to fund and build the expansion attracted criticism from other regional players who were left out of the first stage of the plan, with initial allocations reportedly promised to a small group of rival mining companies.
Cashmere completed an engineering study into the port expansion late last year, but it’s unclear whether the new tender process will incorporate that work, or whether the preferred proponent will start engineering designs from scratch.
PerthNow understands submissions to Mr Buswell from a number of mining companies in the region argued strongly for the incorporation of Cashmere’s work, a view Mr Buswell is said to have been leaning towards during the negotiating process.
Around 11 million tonnes a year of iron ore are currently shipped through Esperance, and Mr Buswell said today that will be increased to 20 million tonnes a year in the first stage of the expansion.
“The Yilgarn province is a rapidly developing iron ore region and, based on current iron ore prices, has the potential to earn the State up to $150million a year in royalties which can be invested into schools, hospitals, roads, police and other essential services for the community,” said Mr Buswell.
A dozen or so mining companies in the region have ambitions of one day exporting through Esperance.
Earlier estimates put the cost of expansion at the port at around $300 million, and around a billion dollars would need to be spent by mining companies to build new connecting rail networks, and upgrade the existing rail lines to Esperance.
The State Government has also already committed to upgrading Esperance port’s existing road and rail access.
BCI Price at posting:
$2.69 Sentiment: Buy Disclosure: Held
(20min delay)