doldrums, page-2

Hi patprice,
SP action is certainly flat, more to do with macro matters than anything but I think we can be reassured that we have not suffered the falls of comparable IO companies as Chelkn has pointed out.

I understand that the inventory results are imminent and that the next dividend announcement is due after FY13 results in June this year and probably payable in September as it was last year.

With so much talk in the markets about safety, income / yield, growth etc and return on equity being the key to the former, it must be said that BC Iron is de-risked largely, with the exception of being a price taker and having a modest net debt load, all of which has resulted in us having a ROE of some 40% plus. This number provides an insight into the companies ability to simultaneously pay down debt, maintain dividends, grow its operations and presumably, grow its operations and SP.

I clearly have a bias but maintain a buy for what it's worth.