Sabine, if everything goes according to plan, we will see well...

Sabine, if everything goes according to plan, we will see well above 10 cents per share, so there is still the opportunity for you to sell some of your holding in order to be free carried.

I've been trawling through the BCK announcements and presentations to try to figure out the profitability of the project. BCK has commissioned several studies to determine the viability of Marillana. A 15 November 2016 presentation at the Melbourne Mining Club presented some findings from those studies that is a useful guide. It showed that the initial mining of Marillana with ore transported by road would result in a Freight On Board cost below A$48/dry metric tonnes (mine gate cost A$17.0/dmt). I think that analysts are touting the long term average price for 61% ore as about $90 USD tonne or about $122 AUD at today's exchange rate. Allowing for $60 FOB cost and $120 sale price, it still leaves $60 per tonne profit. 20 million tonnes per year should or 10 million for each Joint Venture partner still leaves $600 million per annum profit for BCK for an expected mining life of 20 years. Given the circa 10 billion shares, it still works out at about 6 cents per share annual profit before tax, so I'm pretty sure you'll see well about 10 cents per share should the mine operation get under way in the future. Patience definitely needed to hold this stock!

The other snippet of information I got from that presentation is the port issue. From the presentation, it says Port Hedland is managed by the Pilbara Ports Authority (PPA), a Western Australia government enterprise. PPA owns 4 of the 19 existing berths at Port Hedland with remaining berths owned by BHP, FMG and Roy Hill. Utah Point is one of the 4 PPA berths that exports iron ore for various junior producers. South West Creek, currently under development for another 2 berths.

Min Resources has contracts to export from Utah Pt, which is where BCK has an agreement from where to export its initial 2.5 million tonnes pa. However, Min Resources/BCK need the additional space/capacity from one of the two South West Creek berths that are being developed in order to meet the requirements of their proposed 20-25 million tonne pa operation. It's frustrating waiting for the PHPA to finalise its operational review and decision as to which miners will be allocated additional export capacity.