Gidday boydie, thanks for the kind words once again. I'm a...

Gidday boydie, thanks for the kind words once again. I'm a little surprised to see none of the longer term BCI holders appear here today, in fact, only yourself mate. Before I start, I did make a post on the IOH forum around two or three years ago, which was probably fair to say less than flattering about IOH. That's always a tough gig and could see me as a bit of a shyster by any IOH holders reading this ... who knows, who cares I guess,

Anyway, I don't know enough about IOH to give an informed opinion regarding off takes etc, only it's quality. I am concerned about the Phos level being ten times that of BCI and probably grade the company unfairly as a whole on this fact. So what I did was text a friend in Western Australia who not only works in the sector at a senior level, but also knows both companies inside and out. Below is the text conversation, I hope he doesn't mind me doing this, please TOU this post if it's deemed unacceptable:

CHELKN- Mate I don't understand bci buying out ioh????? Unless there's something regarding synergies, I'll read tonight.

REPLY - It's a very good deal. Cash flow from Iron Valley, working relationship with MinRes, big upside in Western Pilbara. There are few good growth options in the Pilbara. This gives BCI a shot at 20yr + life with a proven team and a scenario of tying up 3rd party access in West Pilbara. It has success written all over it. It is truly visionary.

Personally speaking, I think it depends on your personal opinion on the future of China. If you believe that China will still be going strong into the future -- it's a great deal. Although if you think that the good ol' days of high Chinese demand are over, you are probably going to find this deal harder to accept.