I think it is safe to assume Auzion is out of the picture for...

I think it is safe to assume Auzion is out of the picture for WPIOP. They got hammered when they first invested in the WPIOP, then hurt again when they wrote the investment off. Anketel is way too expensive, I think in the PFS it was quoted at $3-4 bn to develop. I think WPIOP is a very bad memory for them and investors would not be pleased to see them revisit it.

I doubt MIN would use IV as their first project to test BOTS. It was originally put forward, however that was before the fall in I/O prices. It is a long way to Port Hedland (~380km) and would require development of additional port infrastructure, though capacity is likely to present at Utah Point post Wodgina and Abydos (AGO) running out of iron ore in late FY17 (~8mt).

The most likely development of BOTS is to link in stranded deposits of the majors to existing OPF's where the ore body is almost exhausted. The benefit is low capex, which is the mantra in iron ore for the majors. WPIOP is the next most likely project after that, IMO.

Based on Mac's post (thanks for all that info), it is possible that WPIOP starts off small and shares BCI's haul road and shares in the 20mtpa of capacity. This could see the likes of Baosteel and POSCO helping to fund the infrastructure and maybe a commitment to buy product (a big tick to investor if this occurs). There are options to use contractors to fund the OPF, mining equipment and the port. The super large trucks that can be accommodated on a private haul road are probably surprisingly competitive with rail when the much lower capex is factored in.

Only from memory, but I believe Cape Preston is capable of going to 40mtpa, though requires additional approvals. It could cover both Bucklands and most of WPIOP's initial output plan. A mine this size would be a prime candidate for BOTS, as the capex is ~70% less than traditional heavy rail. If built, Bucklands would also probably utilise it. Could be a reason why no announcements - making a decision to build a haul road or commit to BOTS.

Nice share price bounce today . Likely still more to go when more info on projects is released.
IMO, BCI did not need to raise unless it was confident about its strategy, hence news can't be that far away in theory. Even post the rally, it is still only ~2x EV/EBITDA. Probably very little Dep, Int and tax, so PER also very low (3-4x). Hard to find a company with long mine life and potential catalysts this cheap anywhere else.