This article is a nice read...Please read fully and the n try...

This article is a nice read...

Please read fully and the n try work out what u think FDL's SP should be.......remember they are looking for 300mt.......


Why?

In the article below....

BCI-These guys are looking for 70mt iron........lol

$1.60 odd a share already
MC of 97million already.........more than FDL

States in the article "with a re-rating coming"

results of resource out in the new year
tenement near fMG

FDL MC only 80 mill

looking for 300mt or more.......lol

please try to work out where this SP is going

Those that think it will drop below 6c......good luck, may not see it again..

You may as well buy at 8 or 9c while u still can...........just my opinion.


article below.........



Trading halt is a pointer that BC Iron is about to sharpen its drilling program

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* Barry FitzGerald
* November 26, 2007
* Page 1 of 2

BC IRON chief Mike Young swept through town last week, on a roadshow about the status of the group's Nullagine iron ore project.

It must have gone well - by the time the energetic Young was back in Perth, BCI had gone into a trading halt pending an announcement.

There are no prizes for guessing the likely reason for the trading halt as allowing BCI to bed down a share placement to fund an aggressive 2008 drilling program.

The rumoured $7-$10 million institutional placement would keep BCI on track to confirm the 70-million-tonne potential of its channel iron deposits, with confirmation of an initial 30 million tonnes-plus expected early in the new year.

There are plenty of juniors with their foot on good-sized iron deposits in Western Australia, be it in the Pilbara or the mid-west. What gives BCI the edge on most of them is the location of its Nullagine tenements - up close to Fortescue Metal's shiny new Cloud Break and Christmas Creek projects.

More to the point, BCI's iron ore is in easy trucking/spur line distance of Fortescue's "open access" railway - the first third-party-friendly infrastructure in the Pilbara.

One of the first things Young did after BCI listed last year was to sign a memorandum of understanding with Fortescue for the bulk transport of up to 5 million tonnes a year of iron ore, as well as mine gate sale options or a potential joint venture.

It was all about BCI getting into production as quickly as possible, either through access to the railway or through a mine gate sale to Fortescue. Either way, BC Iron is eyeing an early move to production and cash flow to capitalise on the strength of the iron ore market.

A scoping study is set to kick off as early as March, and a full-scale feasibility study towards the end of the year.

That's not bad for a company that only had its $6 million float last December. It is now valued by the market at $97 million ($1.69 a share last sale), with a re-rating to come as the exploration potential of its tenements is converted into stock-exchange-compliant resources/reserves. BCI was the product of the combination of adjacent iron ore tenements of the highly sought after manganese producer Consolidated Minerals, and Alkane Resources. They now hold 28% and 17% respectively.

Given ConsMin will eventually fall in the takeover shoot-out between Palmary and Pallinghurst, there will be questions before long on the future of the 28% stake in BCI.