Happy new year everyone. Thanks steamy.The MD/CEO of BCI Mike...

Happy new year everyone. Thanks steamy.

The MD/CEO of BCI Mike Young has amazing energy. Mike's a big picture person and thrives on building something from nothing. Mike's the face of BCI, which is why most of the rest of the board, and those on the ground are largely unknown. Mike's the one who comes into meetings full of beans and skites about what BCI will do, and how BCI plans to do it. After a short period though, Mike usually gets bored and would scamper off to a pub for lunch, leaving all of the work to Tony and/or Morgan, parting with the words, "I'll see you all down there in a bit."

I think most shareholders focus solely on the SP and whether it's going up or down -- me included -- I'm only human. When there's long periods of time when the SP does nothing, and no new exciting news from BCI is coming out, we can become impatient and believe the company is going nowhere. Infact, it's during these long periods of 'nothing' which are most important to the success or failure of the company, and therefore the SP. I'll give you an example:

In June 2009 BCI had signed an "in-principle" agreement with FMG for infrustructure. Over the next month the SP more than doubled going from 62 cents to $1.43. However, in December 2009, or 6 months on, BCI could've been brought for a dollar. There were two main reasons why this SP movement occured. Firstly, too many individuals didn't understand how meaningless an in-principle agreement actually was. Many mistook this agreement for a true FMG/BCI partnership and were wondering why BCI wasn't already loading Bonnie fines onto a train 6 months on. Which leads to the second reason, many thought all of the hard work was in obtaining the agreement with FMG, it was now easy sailing for BCI. No, the signing of the agreement was the beginning of the real hard work. All BCI had in June 2009 were some drilling results,a couple of tonnes of analysed ore and a feasibility study. June 2009 was the beginning of all the boring stuff that takes time, but was the most essential to the company's success. Critically, it was this period when management and those geos on the ground, could've been heros or zeros. FMG said to BCI in June 2009, "OK, so you say you can do this, now go and prove you can do it. If you can't, we won't be taking this agreement any further. That may affect the BCI SP if we at FMG cancel the in-principle agreement." BCI not only did what they said they would do, but exceeded FMG's expectations with flying colours. It was during this period individuals with little experience in taking projects to the production stage were asked to step up to the plate, which is what they indeed did. This was when BCI truely shined with BCI turning an in-principle agreement into a FMG/BCI partnership. However the SP went backwards. People lost patience because the company didn't seem to be doing anything -- in their eyes. But the company was doing plently. It just wasn't spunky and exciting times. We are still going through the boring stage, trying to ramp up production. ALL of this hard work done since June 2009 will one day pay off. And it could start to show in the SP sooner then later.

A massive thankyou to those at BCI who stepped up to the plate post June 2009.