All is not lost!Some chance of a higher bid which is why I...

All is not lost!
Some chance of a higher bid which is why I hold.
That rail line deal with FMG is worth a lot more I think and hopefully someone else will as well.

Cheers
Hotlegs

ConsMin undecided on BC Iron bid David Fickling From: Dow Jones Newswires January 24, 2011 10:32AM

A CONSOLIDATED Minerals appointee on the board of BC Iron has backed a $345 million cash offer by Regent Pacific Group.
In a clarification to their $3.30-a-share offer released Friday, Regent Pacific said Glenn Baldwin, chief executive of manganese, chromite and nickel miner ConsMin, had supported the bid in his capacity as a director of BC Iron.

"The company should like to clarify that Mr Glenn Baldwin voted on this proposal but only in his capacity as a non-executive director of BC Iron. His recommendation is in no way representative of how Consolidated Minerals may or may not vote at the scheme meeting. Mr Baldwin does not own any BC Iron shares."

Hong Kong-based mining investor Regent Pacific and ConsMin are the two largest shareholders in BC Iron, with respective 19.9 per cent and 21.1 per cent stakes.

BC Iron, a Western Australian iron ore miner, is due to earn its first revenues this month after shipping ore from its 50-50 Nullagine joint venture with Fortescue Metals Group to Fortescue's terminal in Port Hedland.