doldrums

All will remember the period right through the middle months of 2012 when the BCI share price, see chart, was pretty much steady at around $2.50. Illiquid and going nowhere.

The departure of Regent and a distribution of that holding to a number of new holders was supposed to have shaken off the liquidity issue.

Seems as if BCI is in the illiquid groove again. For the past two months the SP has been hung around $3.20 on daily turnover not as low as mid last year but steady at about 350,000 each day.

My feeling is this will be the situation until we approach the next dividend or the IO sector regains positive support. An inventory update is not due earlier than the dividend.

I do not think the market has priced in the change that occurred last December when BCI increased their share of production by 50%.

Also, I do not think that Cleveland activity will influence the SP for some time.