age article. scoping study due this week

Interest in BCiron continues to pick up. Hopefully we get the scoping study released first thing before the open of trade. I have copied the section of the article in relation to BCI. see below

"Junior joins big leagueTHE junior iron ore sector was a good place to hide last week while the rest of the market was undergoing some serious downward readjustment. Rio Tinto's 85% price increase win for the red stuff made sure of that.

Having said that, junior ain't exactly junior anymore, what with stocks such as Atlas Iron and Brockman Resources now boasting market capitalisations of $1.07 billion and $250 million respectively.

That's why Garimpeiro's interest has picked up in Mike Young's BC Iron (BCI).

After a 5.86% price gain on Friday, the company has a fully diluted market cap of $97 million against which it is holding cash of $9.5 million.

More to the point is that BCI is expected to this week release its scoping study into the initial 3-5 million tonnes-a-year development of its Bonnie Creek iron ore project in the Pilbara. It's in the same neck of the woods as Fortescue's recently commissioned Pilbara operation.

Fortescue boss Andrew Twiggy Forrest is not only Australia's richest man, he also claims to be a champion of open access to the Pilbara's rail and port infrastructure.

Now that he has got both of his own in place in the Pilbara, the memorandum of understanding that BCI has with Fortescue to negotiate an access deal means that Bonnie Creek's location could be a real blessing.

The scoping study is based on the recently announced inferred resource of 28 million tonnes of direct shipping ore. As you would expect at current iron ore prices, the potential bumper cash operating margins it might point to will make interesting reading for a company with a market cap of $97 million."

link below to full article.

http://business.theage.com.au/coal-is-still-king-in-the-world-power-game-despite-its-blackened-name-20080629-2yuj.html?skin=text-only