Interesting mate, very strong buying on Friday and again today clearly the rising iron ore price is a factor but with the offer closed and (as you explained) dilution now being a factor it's great for holders to see the SP still rallying.
I'm not sure how much Fe MIN sell out of Iron Valley at spot price, but I recall the royalty agreement is set up to deliver significantly higher cashflow to BCI with higher sales prices rather than a flat % rate. So at $80USD we might see a return from IV far exceeding the forecast $19mill but of course the price needs to stay elevated for a long enough period so that MIN can make some hay.
Entitlement Closed – What now for the SP?, page-2
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Last
23.5¢ |
Change
-0.005(2.08%) |
Mkt cap ! $677.8M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 24.0¢ | 23.5¢ | $68.18K | 285.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 199470 | 23.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.0¢ | 28358 | 6 |
View Market Depth
| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| BCI (ASX) Chart |