IOH BCI

I will re-read i thought they had accept unless there was...

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boydie63

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11/08/14

17:57

Post #: 13801094
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Originally posted by doctornoh ↑

Why do people think the deal wont proceed? The target company Board has recommended the offer. And the 51% shareholder has accepted the bid. Im not aware of too many takeover offers failing when this happens.

As I understand it you have 5 years left on your one producing mine and then its scrapping the barrel. You are effectively buying an about to produce mine with no capex required at all (crimping a royalty from MIN who do all the heavy lifting with upside if IO goes up). You also get access to an infrastructure solution that could give infrastructure type returns from juniors looking to use the port (i.e potential cashflow not tied to the IO price which in my mind can only help future dividends) with letters of intent signed with many Chinese steel mills for the product. Its taken IOH many years in planning, design and seeking approvals which are all received and a lot of cash to get the Bucklands project to where it is now. BCI has just secured its growth strategy in one hit. And basically all for scrip.

Its not as if BCI is buying some wildcat tenement in Rhawanda. Not too sure why BCI holders seem so negative about the deal?

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I will re-read i thought they had accept unless there was another higher offer maybe my mistake,i am not negative at all i was always worried about the short mine life we have,just glad its an Australian company,i have been in BCI from the 25cent float in 2009,they are a good company very well run lets see where this goes,good luck to all.

IOH Price at posting: $1.33 Sentiment: None Disclosure: Not Held

BCI Price at posting: $2.99 Sentiment: Hold Disclosure: Held
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