And there is more....
New Australian iron ore float, BC Iron Limited (ASX Code BCI), made a promising debut on the Australian Stock Exchange at 10.30am (WST) today (Friday, 15 December 2006) opening at 48 cents, at a 92 % premium to the issue price. BC Iron issued 24 million shares at 25 cents each to raise $6 million under the IPO which closed heavily oversubscribed on Friday 1 December. BC Iron – which is headed by Mr Young as Managing Director, and well-known Perth-based lawyer and businessman, Mr Tony Kiernan, as Chairman – was formed earlier this year through the amalgamation of particular iron ore assets of Alkane and Consolidated Minerals Limited in the Pilbara region of Western Australia.
At least Alkane then had the sense to create a separate entity to operate their iron ore interests - if they had done that with the DZP they would have been able to concentrate on their gold interests in NSW.
Read the following...
https://investorintel.com/sectors/technology-metals/technology-metals-intel/alkanes-golden-moment/
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