change in substantial holding, page-11

Gidday Tils,

Thanks for that. That's interesting about the fin. review article. Looks like the theory about a Chinese interest buying into BCI via Regent has just been shot down in flames. So it would appear anyway.

I've tried to do a little research on Consmin. It's really hard to get any details on where the origins of companies lie. From what I understand Consoliated Minerals is listed on the ASX, code - CSM, although no details appear for this code if you do a search. Consoliated Minerals overseas parent company is Consoliated Iron. My understanding is that Consmin. isn't restricted by any foreign rules because they're a Australian company even though they are controlled by their overseas parent company Consoliated Iron. I think this is right, please correct me if I'm wrong, you probably already knew this anyway. More importantly Consmin. have no restrictions if they did launch a takeover bid for BCI. Where as Regent I think couldn't launch a takeover bid. Or not as easily I believe. Not that they would, as you correctly pointed out Tils.

Just to recap for readers. In July of 2008 Consmin is said to have tried to unsuccessfully takeover BCI. Both sides say that their wasn't any takeover attempt by Consmin. But if you were to read the newspaper articles at the time about the possible takeover it would seem that there was a little more to the story then both sides were saying.

From SMH on July the 14th 2008

BC Iron says no talks about takeover July 14, 2008

BC Iron Ltd says there have been no talks between itself and major shareholder Consolidated Minerals Ltd about a takeover of BC Iron.

"The directors wish to advise that notwithstanding recent press articles alluding to possible take over talks between BC Iron and its major shareholder, Consolidated Minerals Ltd, there have been no such discussions," BC Iron said in a statement.

"Consolidated Minerals remains entirely supportive of BC Iron."

BC Iron said Consolidated Minerals was particularly supportive of its decision to commit to a feasibility study on the Outcamp and Coongan Well deposits within BC Iron's Nullagine iron ore project.

The decision to commit to the feasibility study follows the completion of a scoping study showing a robust financial model and strong cash flow for the two deposits, BC Iron said.

BC Iron shares were steady at $1.20 on Monday.


Tils I'm still a little curious why Regent has chosen now to increase it's stake?