BCI 1.92% 25.5¢ bci minerals limited

Guys for me that's a brilliant report and one that most others...

  1. 1,569 Posts.
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    Guys for me that's a brilliant report and one that most others in this sector would give their right arm for.

    Have I read this right?

    Did the report indicate that 50%Fe material can be beneficiated to 60%Fe?

    Did the report indicate that 50%Fe material was economical?

    If that's the case and I haven't misread the report we are looking at least a 20+ year mine life.

    To note there's a 17.5 year mine life already at 54.2% Fe.

    I'm happy to wait for the project inventory results. I know that it was to be released by the end of March and then it was to appear in the quarterly. But my gut is telling me that if the initial results weren't that good, these project inventory results would've been wrapped up long ago. I reckon the longer this goes on, the better this'll be.

    Also to note, Morgan said recently in an article that he would work hard to double BCI's market cap (paraphrasing). Well if you can turn a 7 year mine life into a 20 plus year mine life, you're going a long way to help double the market cap of a company without too much hard work at all.

    Also also, IF we can assume earnings per share of $1 (NPAT $122M for the next 12 months), and if we assume at least 40% returned to shareholders. Could two 20 cent fully franked dividends over the next 12 months be possible. I guess that's in the hands of management. Personally I'd love to see 50% returned to shareholders, or two 25 cent fully franked dividends. I think if management want the SP to go beyond $7, than investors would be expecting at least a return of 50 cents a share over 12 months or they would stick to the likes of Telstra which could be seen as a safer bet.

    And lastly, the fact that the extra 25% can now be sold on the spot price and not receiving any discount that would've occurred if sold via HengHou, has definitely helped a lot with the 25% lift in price.

    ***GO BC IRON GO***

    P.S You've been quite Boydie mate.

    Sentiment has changed from hold to buy.





 
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