Ann: Date of Annual General Meeting, page-20

Fact is that no matter what share you buy at whatever price, it is always likely to go lower and you are always going to blame yourself for not getting it cheaper. BCI is likely to continue cruising in the mid 20s, until quarterlies boost it up or down. Pay close attention to cash at bank, should be a good indicator of the companies performance.

BCI is in a good position, most firms shrink in size, become unstable or simply default due to loan obligations.

The managers have done some fantastic stuff which i am really glad to see, they have paid off their debt which makes them a lot more competitive, they have approx 60mil in cash with a market cap of 44mil. For this to make sense the market is expecting iron ore prices to continue to drop and for BCI to operate at a loss.

The way i see it the current iron ore price can stay like this for the next 3-4 years BCI should be breaking even, lets even say it makes a loss each year, it has enough cash at bank for it to continue making losses for years to come. Im willing betting that the Iron ore price will recover in the next 3-4 years before BCI runs through their cash..

There arnt a lot of firms on the asx which have a market cap below their cash level and are sitting on large mine reserves and equipment as well as well trained staff. I don't believe BCI's share price reflects its true value, it is not a risky business its actually quite safe, management have no need for a credit raising, they need to continue dropping input costs.