agm preso, page-2

I'll hold until Christmas on the chance their maybe a merger with FMG. I'm starting to think however that won't happen. I can't see any catalyst for the SP to go too much higher then what we have at the moment. The SP probably won't gain momentum until we get closer to production. I'm not going to hang around for another 12 months to just watch the SP go sideways. There is still the risk that the world economy isn't out of the woods. Who knows, the SP could go down from here if this turns out to be a W shaped recovery. I'm fortunite enough to have an average far below the current SP of $1.16. So it's easier for me to sell then other.

Anyway, the fact that production has been delayed for 6 months. Which infact is on the top of earlier delays is the thing that has swayed my decision to probably sellout of BCI. I like the fact that in the past management have just given us the facts on what they are doing and the SP would rise on that. There is now far too much talk about,"What we have achieved", and too many excuses in why we won't achieve our future targets. Disappointed, my opinion on BCI is starting to slide. I wouldn't have believed 5 months ago I would have been writing a negitive post about BCI's management.

Like or dislike my comments, I'm just trying to be honest. My target is $1.35. However I have a feeling I'm being optimistic. Apart from a merger with FMG, I can't see where a lift in the share price will come from. Maybe from another off-take agreement. Bear in mind, we just had a off-take agreement and the SP ended the day lower. I'm not naturally expecting the SP to do great things on the next off-take agreement.