RHI - Red Hill Iron - are a JV partner with API and have the largest holding of tenements in Stage 1 of the proposed WPIOP.
Additionally, they also have a separate, 100% ownership of their 'Pannawonica Project' which is located in close proximity to BCI's proposed haul road to CPE.
The following was from RHI's quarterly -
Pannawonica Project (RHI 100%)
The recent announcement by BCI Minerals Limited (BCI) on 10 January 2018 that it had entered into a non-binding agreement with Sinosteel Australia Pty Ltd, a participant in the Channar iron ore mine and a subsidiary of the large Chinese steel company of that name, involving the study of development of BCI’s Buckland Hills iron ore resource evidences ongoing interest in the development of West Pilbara iron ore deposits.
The proposed haul road from Buckland Hills to Cape Preston East, the location of BCI’s proposed export facility and port, passes RHI’s Pannawonica Project. Any development of a haulage road from Buckland Hills could allow the Company to contemplate the feasibility of mining and exporting ore from Pannawonica and also lead to activity on the Company’s hard rock resource at Three Peak Hill which is postulated to be used by developers of road and rail infrastructure in the area.
FYI.
BCI Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
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