BCI 3.92% 24.5¢ bci minerals limited

Iron Valley Numbers

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    Revenues from Iron Valley for 1H 2017 were reported as around $35.5 million.

    The Earnings from Iron Valley were reported as around $12 million.

    I was surprised to see so much of the revenues from IV are being chewed up somewhere as costs given the project is farmed out.

    A review of the financial reports for IV lists "cost of sales" around $22 mill, can anyone shed some light on why BCI's costs are so high for IV? It's not staff salaries as this is listed as a separate item in the report.
 
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