morgan ball

I like the ceo he seems one hell of a nice guy and very capable , however i dont like the talk of huge dividends 10 % return is great but I want more (greedy agreed)

I would like to see bc iron get more involved with cleveland where there are huge growth opportunities , they can buy the company at the moment for 25 million , before they invested 6 million for 5% its very cheap withn potentially 1.5 billions tons of iron ore with cheaper capex than bc iron. Plus they have exciting gold assets.

There are a heap of companies stranded with great assets but no money. Bc iron must start taking advantage of these great opportunities otherwise it will just peater out into nothing. The 2-5 year mine life increase that morgan hinted at is not much. Bc iron needs to start thinking about its future. Iron ore will start going down in price the cost of production is around 76 dollars a ton if the io price goes to 80 dollars we have a nice company making 20 million a year before tax . We will be lucky to get 1 cent dividend.

Dont get me wrong i believe we are worth more than 5 dollars with the current situation after all we have 200 million in cash.

morgan could take 100 million invest in some great gold companies like chz , msr (i own shares in both) and the company could have some new assets earning another 200 million a year.

In my opinion morgan needs to start thinking like a business man and not an accountant.I will give him the benefit of the doubt and I presume he will do this.