I've followed this stock since 2007 when I bought for the first...

I've followed this stock since 2007 when I bought for the first time. Sold out completely earlier this year. Iron ore producers are price takers. The majors are not helping with their never ending production expansion against the back drop of China on its knees. Caveat Emptor.

Me thinks there is much potential downside from here. Iron ore price could go to $60-70 and stay there for five years. That will be the end of things for all but the majors. Probably what they want. FMG I think is in trouble, unless they sell assets like they have prevously planned.

Very sad story for BCI. Management, despite what people have been saying on HC are very capable. They executed a reasonable deal in very tough times, a deal that the market had been requiring of them for some time.

Lastly, if BCI do pay a dividend in FY 2015 the IO price will have to be over US$100 average for the year. Either that or management have lost their minds.